What Retailers Can Learn About Customer Retention From the Latest Airline Mega Merger

Any retailer that's been in business for five minutes knows that a loyal customer is far more valuable than a churner. Yet, an unfortunate fact of entrepreneurial life is that most businesses see half their customers change in five years, according to Fred Reichheld's "The Loyalty Effect." Engaging a new customer is more expensive, costing a whopping seven times more than retaining an existing one.