Customer Retention

There's pressure for brands to compete on customer experience (CX) in nearly every industry. Retail marketers, in particular, are pressured to meet growing expectations from today’s empowered customer for an experience tailored to their preferences at every stage of their specific journey. For retailers, this change may seem daunting, as companies must update their business…

Simply put, brands are addicted to customer acquisition. Driving net new sales and acquiring new customers is often the primary key performance indicator (KPI) for any given marketing campaign, leaving little to no resources devoted to the actual key business driver: repeat customer acquisition and lifetime value (LTV). Whether they’re selling to consumers, businesses or…

With the importance of customer experience (CX) firmly entrenched in their psyche, most successful retailers now understand that if they want to retain customers long term, they need to think about what happens after shoppers hand over their credit card numbers. These retailers get that they need to think about customer journeys and not one-off…

Retail and brand leaders face a common and critical challenge today: finding new ways to retain customers in a hypercompetitive marketplace. Consumers have more choices than ever when it comes to where and when they buy. This forces retailers to think differently about how they keep customers coming back — to avoid incurring all the…

The transformation of the global retail market would be unbelievable if it weren’t happening right in front of our eyes. With the increasing presence of giants like Amazon.com and the growing online footprint of established retailers like Best Buy and Walmart, the number of store closures for smaller retailers is ramping up, and the banking…

One of the biggest challenges for retailers is not acquiring customers, but keeping them. Loyal brand ambassadors are the backbone of growth. However, building long-term interest in a brand is no easy feat. Customers want personalized experiences and services that make them feel that they are the most important customer. A 2018 Bond Brand Loyalty…

E-commerce sales represent around 10 percent of retail sales in the U.S. and are expected to reach 14 percent — $4.5 trillion — by the end of 2021. The retailers that succeed in this next phase will be those that use data and artificial intelligence (AI) to make every customer’s experience memorable in a positive…

Retailers today are faced with more competition than ever before, making it challenging to both attract and retain customers. Customer expectations are elevating too, driven by new technologies from point-of-sale engagement and artificial intelligence engines all aiming to enhance the shopping experience. Marketers must put their customers first by using data intelligence to stand out…

In today’s evolving retail climate, consumers are straying from shopping exclusively in-store or online. Instant gratification, control and face-to-face customer experiences entice consumers to still shop in physical stores. Yet, the convenience of online shopping was a primary factor in e-commerce sales increasing by 15 percent in 2018. As customers  incorporate both shopping methods into…

For years, the retail industry has been plagued by high-profile store closures, like Sports Authority, Payless, and Toys“R”Us. These retail chains buckled under economic pressure, but brick-and-mortar stores aren’t necessarily doomed if they can embrace the retail renaissance. Research from Deloitte indicates that as Americans spend less, it most affects retailers in the middle —…