Customer Retention
Faced with intense competition and shocking levels of store closings, retailers are scrambling to get up-to-date with what customers expect, embrace new models of smart store technology, and encourage customer loyalty. The speed at which retailers are falling has made this imperative all the more pressing. The desire and need to have loyal customers isโฆ
Today more than ever, retailers are being forced to take their focus on customer satisfaction to extraordinary levels. The standard for customer satisfaction is being driven higher by companies like Amazon.com and its large retail competitors as these companies move from a focus on โcustomer satisfactionโ to โcustomer obsession.โ This obsession has made factors suchโฆ
The heat is on retailers to become customer-centric. Customers have higher expectations than ever before, and competitors that reliably meet those expectations seize a reliable edge. The key is to put the customer at the center with cohesive data and purpose, starting at the top.
Black Friday is poised to be strong for U.S. retailers this year, according to findings from a recent study conducted by Periscopeยฎ By McKinsey, which was designed to determine consumer sentiment towards the shopping event as well as the categories consumers will shop in and how they will shop. Almost half (44 percent) of U.S.โฆ
With the threat of online shopping, brick-and-mortar retailers have been forced to embrace the importance of the experiential aspect of their stores to drive repeat foot traffic. It takes something really compelling for the average consumer to go to a physical store instead of ordering whatever they need from the comfort of their own home.โฆ
With the threat of online shopping, brick-and-mortar retailers have been forced to embrace the importance of the experiential aspect of their stores to drive repeat foot traffic. It takes something really compelling for the average consumer to go to a physical store instead of ordering whatever they need from the comfort of their own home. [โฆ]
Most retailers put a lot of time and effort into attracting new customers. It makes sense: you need customers to buy your products and sustain your business. However, generating more sales from existing customers is a more efficient, less expensive way to grow. The probability of selling to an existing customer is 60 percent toโฆ
Stitch Fix, the online personalized styling service, announced yesterday that it has filed for an initial public offering (IPO). While the company didn't state how much it expects to raise, sources familiar with the situation said the retailer anticipates it will be valued at roughly $3 billion to $4 billion. An IPO filing had beenโฆ
Everywhere you look, all you see is doom and gloom for retail. Foot traffic is in decline by 50 percent in recent years. Eight thousand-plus U.S. retail stores projected to close this year. Is this the beginning of the end? Hardly. We all know that people are doing more shopping than ever, but their shoppingโฆ
Tommy Bahama is winning over todayโs distracted consumers by focusing on unique, unconventional retail experiences for them, according to Doug Wood, CEO of the Seattle-based manufacturer and retailer of casual men's and women's sportswear and activewear, who spoke at the 2017 SAP Retail Executive Forum in New York City yesterday. Case in point: Wood discussedโฆ