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Retention and loyalty – how to grow when the market is down

Inside Retail

Retailers have also been hit with rising input costs eroding margins, leaving many merchandise, marketing and commerce functions wondering how they are going to achieve more with less. This view is supported by KPMG’s December 2023 Retail Health Index, which suggested that a recovery in retail spending might not occur until late in 2024.

Marketing 290
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Welcome to the new customer experience

Inside Retail

To close this gap, 44 per cent of retail and consumer goods marketers say they are now leading customer experience initiatives across their organisations (versus just 24 per cent in 2017), and metrics are being shared. In this regard, retailers are re-evaluating and revolutionising their value propositions for higher customer retention.

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No one will escape: Industry leaders on navigating the retail recession

Inside Retail

And while some retailers made staff redundant across their store networks and head offices, Mansfield observed that brands that did well during the GFC offered additional training, recruited staff let go by other brands, and doubled down on their customer service and customer experience offerings.

Consumer 246
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How to transform returns from a costly headache into a profit centre

Inside Retail

If reducing overheads is not a sufficient incentive in itself for adopting a smart, automated returns process, customer expectations should be, Daly tells Inside Retail , referencing the company’s recently released Future of Commerce Report. The average rate of customer retention in e-commerce is around 38 per cent.

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How to transform returns from a costly headache into a profit centre

Inside Retail

If reducing overheads is not a sufficient incentive in itself for adopting a smart, automated returns process, customer expectations should be, Daly tells Inside Retail , referencing the company’s recently released Future of Commerce Report. The average rate of customer retention in e-commerce is around 38 per cent.

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Different Things to Consider Outsourcing in Your Retail Business (and Why)

Retail Focus

This can lead to increased conversions and higher customer retention rates. Social Media Management Outsourcing social media management to experts allows you to leverage various platforms to engage with customers, build brand loyalty, and promote your products effectively.

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3 Reasons Digital Marketing Matters To Your Retail Business

RetailMinded

If you have businesses in Surrey or Guildford, for example, you might have probably already earned loyal customers in the area due to personal connections and networks. However, if you want to boost customer loyalty in more comprehensive geography and reach, digital marketing is the way to go. . Social Media Engagement.

Marketing 106