Customer Retention

There are many reasons for consumers to consider acquiring insurance when financing major purchases. For example, credit insurance can help ease payments on lines of store credit, installment loans and other short-term advances. At the same time, retailers and financial institutions benefit greatly by offering credit insurance options to customers. One big reason? It can…

There are many reasons for consumers to consider acquiring insurance when financing major purchases. For example, credit insurance can help ease payments on lines of store credit, installment loans and other short-term advances. At the same time, retailers and financial institutions benefit greatly by offering credit insurance options to customers. One big reason? It can […]

Building customer loyalty is becoming more and more difficult in today’s omnichannel retail environment. Your competition is always just a simple search, click or tap away. It’s much more cost effective to retain existing customers rather than acquire new ones. So how can retailers gain customer loyalty? In the webinar “Customer Loyalty: The Holy Grail…

In today’s hypercompetitive retail environment, there’s mounting pressure for retailers to leverage their brick-and-mortar presence as a competitive advantage. This reality arguably makes the store associate the most important asset retailers have. Associates can provide the personal service that differentiates their shopping experience from their competitors, including online pure-play retailers. In fact, store associates that…

Keeping up with innovation has retailers investing phenomenal amounts of time on “what’s next” since the launch of digital in the 90s. However, newer technology and innovation can only be considered a success if they can support a diverse collection of KPIs, including lifetime value (LTV), average order value, brand engagement, share of wallet and…

It’s no secret that Amazon.com is disruption with a capital D — and has been since your neighborhood bookstore disappeared. However, while most of us recognize the pressure Amazon has put on on retailers, not many are focusing on the similar effect it’s having on brands. Companies across the spectrum are finding it increasingly difficult…

The American Customer Satisfaction Index (ACSI) recently released its Retail Report 2016, and there's good news for retail brands. The report shows that the overall retail sector has mounted a bit of a comeback when it comes to customer satisfaction. Retailers scored a 78.3 average on the ACSI, a 5 percent increase from 2015 and…

It’s been hard times recently for retailers, for example, R.H. Macy & Co. Founded by Rowland Hussey Macy in 1858 in New York City, on opening day the company had sales of $11.08. That would be $328.10 today based on inflation. Macy's moved to Herald Square in 1902 and through expansion eventually became the “largest…

At one time, location trumped nearly everything else in retail. Success lay in creating loyal customers who lived close enough to regularly patronize your store, often with heavy local advertising to generate regular foot traffic. Maybe you visited a favorite in the local mall because you liked its clothes or prices or salespeople. Maybe you…

Americans are growing increasingly wary of credit cards. The percentage of Americans under 35 holding credit card debt has reached its lowest level since 1989 — when the Fed first began collecting this data. And 70 percent of millennials believe how we pay for things will be totally different in as little as five years.…