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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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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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Why Use Bindy?

Compliantia

This article lays out the business case and return on investment for Bindy retail execution across the customer experience, merchandising, time and cost savings, health and safety, loss prevention and communication. HAPPY CUSTOMER = PROFITABLE OPERATOR. 5% increase in customer retention can boost profits by 95%.

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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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5 Retail Marketing Strategies to Drive Sales

Creative Displays Now

In-store marketing: These are the marketing collateral and techniques businesses use to promote their products within a physical environment. There are many avenues to promote your products to potential warm leads. Build and Maintain Customer Databases Keep track of all your customers’ information and buying habits in a database.

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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