Customer Retention
December 4, 2015 at 10:10 am
Amazon.com’s Prime keeps attracting more and more members, and new data from Wall Street firm Cowen & Co suggests the subscription service is getting stickier, posing a more intense threat to traditional retailers trying to claw back market share. The survey suggests Amazon Prime is drawing younger and wealthier shoppers who are now using the…
November 4, 2015 at 10:27 am
The lowest price always wins in online retail, right? Not necessarily. Amazon.com is a perfect example of a company that doesn’t always offer the lowest prices, but has built up a strong perception of being a loss leader. While Jet.com has recently joined the online retail game, Amazon’s customers haven’t jumped ship just because Jet…
October 28, 2015 at 11:22 am
The holidays are just around the corner, and most merchants have already put a lot of thought into how they’ll try to maximize sales during the annual shopping blitz. But those with their eyes on the real prize will focus not only on sales volumes this holiday season, but also on how many of those…
October 27, 2015 at 4:13 pm
Loyal customers are what every brand is after. Considering the cost to acquire new customers — as well as the challenge of identifying which of the multiple touchpoints drove them to purchase — many retailers are recognizing the value in spending to retain the customers they already have. From technology upgrades to improve the shopping…
October 27, 2015 at 12:27 pm
Website and customer experience optimization aren't new. Both have been slowly and steadily evolving over the past decade and have become a key competitive differentiator for many retailers, especially global brands that have created a “culture of optimization” throughout their organizations. Along with this evolution comes new tips, tricks and techniques based on the previous…
October 9, 2015 at 10:44 am
Crowds are following Marvin Ellison around these days. The J.C. Penney CEO is spreading the word about what’s next for the department store chain after his predecessor, Mike Ullman, stabilized a company that had been on the brink of disaster. His strategy: focus on fostering customer loyalty.
September 16, 2015 at 1:46 pm
Over the past few years, the media has painted millennials as a generation of high-maintenance, lazy and entitled people. Considering that there are more than 75 million millennials in the U.S. alone, it’s a bit faulty to lump them all together. These consumers vary drastically from one another. They’re the most ethnically diverse generation of…
September 16, 2015 at 12:09 pm
The borders in retail have been broken. Would you agree that customer retention is less expensive that customer acquisition? To put it into perspective, a report by Bain & Company showed that increasing customer retention rates by just 5 percent could increase retail profits anywhere from 25 percent to 95 percent. How’s that for a…
September 10, 2015 at 11:14 am
Fact: most retailers simply aren’t doing enough to keep their customers engaged. While many retailers have taken significant strides toward optimizing their appearance and sales channels for omnichannel shoppers, when it comes to increasing customer retention, their strategies are largely still behind the curve. Before providing perspective about what organizations should be doing to increase…
September 9, 2015 at 10:56 am
The mixed success of Amazon.com’s Prime Day can teach us something about how customer retention works today. Any retailer can tell you that bargains alone don’t earn loyalty. But what specific tactics do turn deal-seekers into lifetime loyalists? I have some advice to offer about what works now. Before: Set the Table Making a good…
