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The four trends defining online retail in 2024

Inside Retail

Customer retention With both consumers and retailers feeling the pinch of increasing costs, customer retention will be a key theme of 2024. The competitive landscape is overflowing, making customer acquisition more expensive. Customer retention efforts are six to seven times more cost-effective.

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

Inside Retail

An alternative approach is to focus on delivering an overall Customer Experience (CX) specifically designed to drive consistent and co-ordinated interactions across all touchpoints along the shopper journey.

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“No immediate impact”: Experts weigh in on Senate Committee’s recommendations

Inside Retail

This will allow consumers to align and ‘buycott’ from a supermarket that promotes their values. If adopted, this could be capitalised by supermarkets demonstrating altruism and corporate social responsibility – which consumers may consider when deciding where to shop.

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Supermarket loyalty schemes will be key for customer retention in the UK during cost-of-living crisis, says GlobalData

Retail Times

The soaring inflation rate is squeezing consumers’ budgets in the UK, and many are choosing to shop at supermarkets that are perceived as the best value for money as a result, says GlobalData.

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Smarter data: Reach high-propensity shoppers and deliver optimal digital impact

Inside Retail

So how do you know how, when and where Aussies are shopping and reach the right consumer for optimal digital impact in a sea of brand switching? Using a high-propensity audience is a very effective way to promote your products or services through digital channels. It’s time to target people, not browsers.

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Survival guide: The keys to resilience and success in tough times

Inside Retail

It’s also important to leverage existing technology and integrate online and offline retail, to create a cohesive shopping experience no matter how your customers choose to shop. Using technology effectively to streamline operations can free up staff to focus on other areas of the business, such as customer service.

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Welcome to the new customer experience

Inside Retail

In today’s new normal, the shopping experience is no longer defined by the boundaries of bricks-and-mortar, but by the customer journey as a whole. Consumers now expect retailers to engage them whenever and wherever they want, with a shopping experience tailored to their individual needs. Revolutionising loyalty programs.