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

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. Parcel Pending.

Insiders

Sign Up for our Newsletter

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

article thumbnail

How fierce competition in digital channels is reshaping marketing budgets

Inside Retail

Amid significant shifts in shopper buying behaviours throughout last year and already this year, retailers are working hard to stay in front of existing customers and attract new ones. Economic uncertainty and customer purchasing habits are weighing heavily on marketing leaders’ minds. However, the acquisition is only half the story.

Marketing 287
article thumbnail

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. Inside Retail spoke to Philip Shelper, founder and CEO of Loyalty & Reward Co, to better understand the chasm between airline loyalty programs and retail loyalty programs.

article thumbnail

Redbubble sales fall despite Covid boosting online shopping

Inside Retail

The group has also registered ‘strong’ overall customer retention during the quarter with 47 per cent of marketplace revenue coming from repeat purchases – the highest level since the company was founded. Operating EBITDA was $4.5

Shopping 246
article thumbnail

KFC operator Collins Foods breaks $1 billion sales threshold

Inside Retail

“Whilst inflationary pressures have played into our profitability in the short-term, our long-term growth plans remain on track, and we will continue to prioritise providing exceptional value across each of our brands as a primary driver of customer retention and engagement.”

article thumbnail

How online shoppers really judge your delivery experience: new research revealed

Inside Retail

Nailing each stage of the delivery journey The research identifies a close link between the delivery experience and customer retention. The results of the survey – which we conducted together with Inside Retail – are now available in a new research report.