Customer Retention

One of the most effective ways to develop a profitable retail business is to retain existing customers, getting them to come back to your brand to purchase again and again. The cost to acquire a customer, even if diminished post-COVID-19, is still significantly more expensive than it is to retain an existing one. Therefore, retailers…

In this episode of Retail Right Now, Total Retail's Joe Keenan and Kristina Stidham discuss the recently released report, Customer Loyalty in a Fragmented Retail Market. The report, which was produced by Total Retail with card-linking technology provider Fidel, dives into how retailers can leverage data to create long-term customer relationships, and the role of…

There’s a small bright spot for the retail trade sector, even if it might be short-lived. After two straight years of decline, the industry improved its customer satisfaction, edging up 0.1 percent to a score of 77.3 (on a 100-point scale), per the 2019-2020 American Customer Satisfaction Index Retail and Consuming Shipping Report. Now everything…

As we move past the mitigation phase of COVID-19 and embark on reopening strategies, smart retailers and brands will learn from the early lessons we can draw from the unfolding crisis. The past several weeks and months have brought more disruption than almost any other series of events in recent American history. Previous disruptions, ranging…

With the abundance of choice that today’s consumers have, particularly online, we’ve seen loyalty to retailers and brands decrease. If a retailer can’t meet the immediate and increasingly stringent needs of a consumer, be it price, product quality, service, delivery time, etc., they simply move on to a competitor. And those shifts are occurring across…

Consumers willingness to adopt new products and try new experiences hasn’t merely increased; it’s reached an entirely new level of hyperadoption that retail brands are claiming they can’t keep up with. With consumers just as quick to try new brands as they are to walk away from ones they were once loyal to, retailers are…

In the “retailpocalypse” — i.e., the age of mass closings of brick-and-mortar retail stores falling to new online competition — brands live and die by their ability to communicate a strong purpose that resonates with their core customer base. In the absence of abundant sales leads, companies must instead bolster long-term relationships with customers. This…

Online shopping has become an essential service during the COVID-19 crisis. No longer is going to the supermarket, bank or mall a safe option for consumers. Rather, sourcing and purchasing from the safety and comfort of one’s home is the new normal. Online retailers are experiencing surges of 30 percent and higher, traffic is scaling…

In this episode of Retail Right Now, Total Retail's Ashley Chiaradio and Kristina Stidham discuss an article recently published on Total Retail titled, “Consumer Shopping Habits During the COVID-19 Crisis,” authored by David Fisch, general manager of Shopkick. Shopkick recently conducted a survey of nearly 25,000 consumers across the country to gain insights into changing…

In today’s competitive retail landscape, customer experience (CX) can make or break a brand. The numbers are clear that CX is now a primary factor in growing revenue and retaining customers. That means your store’s CX is too important to leave to chance. To deliver the experience your customers expect and then surpass their expectations…