Customer Retention
Retailers, particularly those in high throughput categories like footwear and apparel, are still feeling the effects of the inventory glut that started in 2022. The issue is so severe for some brands that the tactics being used to clear inventory have moved from desperate to dangerous. We’re already seeing brands offering 40 percent off site-wide…
In today’s highly competitive retail market, customer loyalty is often a pivotal driver of business success. So much so that studies have shown that increasing customer retention rates by just 5 percent can boost profits up to 95 percent. However, gone are the days of one-size-fits-all loyalty programs that offer the same rewards and incentives…
In the rapidly evolving retail landscape, the brands poised for success in 2023 and beyond are those that can effectively demonstrate empathy toward their customers and deliver a highly personalized customer experience. These times present significant challenges for retailers. The escalating cost of living has caused consumers to scale back on spending. Geopolitical uncertainties have…
The job of a retail marketer is to adapt. Adapt to new trends and changing customers behaviors. Adapt to declining channels that were once effective. Adapt to customers' high expectations. Adapt to changing data privacy regulations. But instead of being reactive to trends, why not be proactive? Look to where consumer marketing is headed, and…
Several companies are experimenting with new initiatives to improve customer loyalty, including Amazon.com paying customers to pick up purchases and retailers like Abercrombie & Fitch, Anthropologie, and Gap ramping up discounts. Others, like Jenni Kayne and Madison Reed, are leaning into membership programs — but are these efforts truly worthwhile? Companies often turn to business…
In episode 406 of Total Retail Talks, Editor-in-Chief Joe Keenan interviews Emily Teele, retail loyalty expert, Nike leader and KindWork board member. Listen in as Teele provides an overview of her role at Nike (0:42), what drew her to take on the international position (1:33), and how she's seen the loyalty space evolve throughout her…
Brand loyalty can be a fickle thing, especially when consumers feel the pressure of high prices and the frustration of out-of-stocks. When shopping online, these issues can come across as even more impersonal, further hindering brand loyalty. For example, after a long workday, there are perhaps fewer things more frustrating for a busy parent than…
Retailers of all sizes strive to acquire high-value customers who are loyal and willing to spend their money with the brand, especially in today’s climate. High-value customers are the integral component of any business. These types of consumers rely heavily on a store's products or services and regularly make large purchases time and time again.…
The retail industry is a marathon, not a sprint. While retailers and brands can’t risk falling behind their competitors in the short term, they also must plan for the long haul. To achieve this, investments must be made in areas that improve customer retention and conversion and reduce operational costs over the long term. However,…
In today’s competitive, increasingly omnichannel marketplace, retail leaders know great customer experiences (CX) are key to revenue growth, customer retention and long-term brand success. Investments in CX and building genuine customer relationships pay off by driving customer loyalty. In fact, Kroger shared that its loyal shoppers spend 10 times more than occasional shoppers. To see…