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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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Why Innovative Loyalty Card Programs Can Significantly Improve Customer Retention & Engagement

Parcel Pending

Savvy retailers are updating their customer loyalty programs to increase customer satisfaction and ensure customer retention. The lure of loyalty cards remains the same since its inception: it’s more cost efficient to retain an existing customer than it is to acquire a new customer.

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Frequent flyer initiatives saved airlines – can loyalty programs save retail?

Inside Retail

Frequent flyer programs infamously saved airlines’ profit margins by driving customer retention and eventually lucrative partnerships with banks. In the current economic downturn, consumers are prioritising retailers which are delivering additional value,” Shelper told Inside Retail.

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Crafting A Unique Brand Identity And Customer Engagement In Retail

RetailMinded

Welcome to the world of crafting a unique brand identity and customer engagement in retail. In this article, we will explore the art and science behind creating a retail experience that not only stands out but also forges deep connections with your customers. The USP is the magnetic force that draws consumers to your offerings.

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Loyalty card wallet app Stocard drawing shoppers to engage with brands

Inside Retail

This global behavioural evolution – which has its roots in the accelerated e-commerce phenomenon consumers underwent during the pandemic – is particularly marked in Australia, where shoppers tend to be big fans of loyalty programs. . We can run multiple creative solutions for brands and retailers to engage with the user base.”.

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Redbubble sales fall despite Covid boosting online shopping

Inside Retail

Online marketplace Redbubble says its sales fell by 16 per cent in the third quarter, despite a high level of returning customers who first engaged with the brand during Covid lockdowns. Last year, the business hit $144 million in profit, up by 118 per cent, reflecting its strong consumer demand over the holiday period.

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Why retail leading experts are remaining focused on emotion, not technology

Inside Retail

The consensus is that both online and offline stores require a deep understanding of brand and consumers. Technology and opportunities to connect with customers are rapidly evolving but top industry marketers are still championing the fundamentals.