Customer Retention

The number of small business owners expecting better business conditions over the next six months fell by 8 percent, according to the National Federation of Independent Businesses’ December 2022 Small Business Optimism Index Report. This is likely due to the rising economic uncertainty small business owners face. You might even be one of these business…

From Sydney to San Francisco and everywhere in between, global shoppers are struggling to keep up with the increasing cost of living. Inflation is leading to rising costs for food, fuel and heating, leading to serious consequences for businesses and consumers alike. In the shadow of the current downturn, Mirakl aimed to understand how the…

Whether it’s the loss of third-party tracking or a new Google algorithm update, marketers always have a new challenge to face. Today, that challenge is inflation. An overwhelming majority (85 percent) of consumers say inflation has caused them to change their shopping habits, with 79 percent seeking out discounts and 77 percent reducing their shopping.…

In episode 388 of Total Retail Talks, which was recorded at the ICR Conference earlier this year, Editor-in-Chief Joe Keenan interviews John Merris, CEO of Solo Brands, a pure-play direct-to-consumer (DTC) company with a portfolio of rapidly growing lifestyle brands, including Solo Stove, Oru Kayak, Chubbies, and ISLE. Merris discusses why so many public DTC…

In a year when holiday spending on gifts, travel and entertainment was down 1 percent from the year prior, one age group bucked that trend in a huge way. Millennials, perhaps aided by increased incomes due to “The Great Reshuffle,” told us it would spend a whopping 11 percent more than it did in 2021,…

The beginning of the year is a time of great momentum and in the ever-evolving retail industry, you must always be prepared for what’s coming down the pipeline. In the past few years, I’ve seen a significant shift in retailers using technology to create more meaningful and personalized engagement strategies to inspire consumers to take…

​Understanding the value your customers bring and how you can maximize it is crucial, especially when there’s an impending recession. When the economy suffers, customer lifetime value (CLV), or the long-term revenue that customers create, can take a huge hit. Consumers are more cautious and they’re likely to shop around in search of alternative or…

The grocery sector has undergone serious shifts in the past couple years. From upgraded technologies that enable digital ordering to pandemic-era shopping habits that sent certain products flying off the shelves, today’s grocery shoppers are no longer loyal to the same store or chain. They hunt for the retailers with the best products, selection and…

Significant transformations are taking place within the fuel and convenience retail industry, resulting in convenience stores rethinking how to handle operations during this period of transformation. Consumer needs and expectations look different than they did even just a few years ago — with an increased focus on convenience, speed and value. As a result, retailers…

Loyal customers expect brands to treat them differently than the average customer. Forrester’s Consumer Benchmark Survey, 2022, shows that 50 percent of U.S. online adults who belong to a loyalty program(s) say they join to get messages, offers or promotions that are more relevant to them. However, today’s marketers struggle to deliver on that expectation.…