CRM

Ghosting in Retail: The Silent Threat to Reputation and Revenue
July 17, 2023 at 4:31 pm

In an increasingly omnichannel and digital landscape, shoppers expect quick and dynamic communication from brands they engage with. Unfortunately, a significant portion of retailers are falling short in meeting this basic expectation.  At my company, SOCi, we recently conducted our fifth annual audit of nearly 600 U.S. chain retailers. We found that 54 percent of all…

5 Ways Customer Data Can Help Retailers Navigate an Economic Downturn
July 6, 2023 at 12:10 pm

The latest figures in the U.S. show that inflation is now slowing down to 4 percent, yet the International Monetary Fund has also stated that the world economy faces “feeble and uneven” growth for the rest of the decade. So, how should businesses adapt? When spending increases, growth is easy. Businesses get to focus on acquisition and celebrate natural…

As Retailers Use New Tactics to Drive Loyalty, Here’s How to Tell What’s Working (and What’s Not)
June 26, 2023 at 5:03 pm

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…

Driving Brand Loyalty Amid Supply Chain and Price Pressures
June 15, 2023 at 12:03 pm

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…

What Retailers Need to Know About How Today’s Shoppers Are Using Reviews
May 22, 2023 at 3:41 pm

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…

Digital Shopping Tools: The Key to Financial Wellness and Sustainability
May 15, 2023 at 8:52 pm

Inflation and high costs have greatly affected consumer shopping behavior, leading to a rise in the use of digital tools that compare prices and apply coupons. In particular, Gen Z shoppers have shown greater adoption rates of digital tools compared to older generations. This article delves into how a new generation of shoppers is using…

Providing Personalized Experiences While Ensuring Data Privacy
April 25, 2023 at 9:17 am

Personalized customer experience (CX) has become one of the key differentiators for retailers, and today’s digital-savvy customers expect retailers to provide a seamless CX both offline and online. In fact, 82 percent of customers are even willing to share their personal information for personalized experiences. However, customers have also become conscious of how their data…

3 Common Data Strategy Mistakes Retailers Are Making
April 13, 2023 at 7:50 am

Change and disruption is rife in retail. Gaining and sustaining a competitive advantage means delivering timely and relevant customer experiences at every touchpoint. In fact, 70 percent of consumers spend more with companies that offer fluid, personalized and seamless customer experiences. Yet despite most retailers being data rich, data strategy mistakes are making them insight…

4 Tips for Growing Your Retail Business During a Recession 
April 3, 2023 at 10:21 am

The number of small business owners expecting better business conditions over the next six months fell by 8 percent, according to the National Federation of Independent Businesses’ December 2022 Small Business Optimism Index Report. This is likely due to the rising economic uncertainty small business owners face. You might even be one of these business…