Remove Consumer Remove Customer Retention Remove Other Remove Social Media
article thumbnail

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.

article thumbnail

Here’s what retailers need to know about social media use in Apac: Report

Inside Retail

When it comes to the Asia-Pacific market , three in five marketing professionals regard social media as more important due to economic uncertainties, according to a recent State of Social Report from software firm Meltwater. It’s becoming more important for retailers to engage with consumers.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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.

article thumbnail

Planning to sell online in the US? Here are some tactics to ensure success

Inside Retail

“You need to really lean into understanding your customer and their value and create personalised experiences that minimise wasteful spending for you as a retailer and that also drive customer retention.” The ease of returns has become a basic expectation among consumers shopping online.

Planning 290
article thumbnail

Driving demand with data: a recovery roadmap for retailers

Inside Retail

After two years of immense disruption, cost-effective customer acquisition is a challenge, particularly given decreasing retention and loyalty and an upsurge in ‘switching’ among consumers. This will help avoid negative retargeting experiences, such as repetition or obtrusiveness, which can discourage consumers. .

article thumbnail

Adapting To Changing Consumer Behavior: Strategies For Indie Retailers

RetailMinded

According to McKinsey & Company , 75% of consumers are exploring new shopping behaviors, indicating a significant change in their preferences and priorities. Understanding Changing Consumer Behavior The retail industry is undoubtedly no longer what it used to be; customer shopping habits and preferences are quickly changing.

article thumbnail

Adapting To Changing Consumer Behavior: Strategies For Indie Retailers

RetailMinded

According to McKinsey & Company , 75% of consumers are exploring new shopping behaviors, indicating a significant change in their preferences and priorities. Understanding Changing Consumer Behavior The retail industry is undoubtedly no longer what it used to be; customer shopping habits and preferences are quickly changing.