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12 Proven Customer Retention Strategies in Retail

RETAIL MANAGEMENT SOFTWARE

Retaining customers not only ensures consistent revenue but also fosters brand loyalty and advocacy. In this blog, we will explore proven customer retention strategies that retail businesses can implement to boost customer loyalty and long-term success.

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How Retail Businesses Can Use Customer Data to Enhance Targeted Marketing

Retail TouchPoints

In order to do this, retailers need to leverage valuable consumer data to create a more targeted marketing strategy. With innovative technology and data solutions, retail stores can deliver highly targeted offers to engage customers. Reward Your Most Loyal Customers. billion in 2019 and is projected to reach $10.02

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Balancing Privacy and Personalization: The Key to Customer Loyalty 

Retail TouchPoints

This is before they even address the issue of managing customer data. Customers are also becoming more wary of the way retailers are storing their data. Businesses need to be transparent about their data protection approach and adapt existing procedures in line with digital innovation and regulatory expectation.

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5 Ways Retailers Can Tackle Wavering Customer Loyalty

Retail TouchPoints

New research from PwC has found that three in 10 customers are more likely to try a new brand — and that number is even higher among younger consumers. But winning (and keeping) customersloyalty is no longer confined to programs and points. Despite their investments, there are a few gaps and opportunities for improvement.

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Loyalty 101: How To Turn Browsers Into Buyers For Lasting Engagement

Speaker: Shaunna Bruton, Danielle Wyllie, and Kailey Holmes

Say goodbye to one-size-fits-all retail, and say hello to experiences that keep your customers coming back for more! Customer loyalty isn’t just earned - it’s cultivated through meaningful engagement with the help of data.

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Holiday Shopping Trends and Payments Innovations: Experience as Competitive Advantage

Retail TouchPoints

This is an opportunity to not only capture share of wallet but also build lasting customer loyalty and trust. According to McKinsey , digital trust principles are nearly as important as price and delivery speed, with over 50% of consumers choosing to buy online only from companies known for safeguarding customer data.

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Top 4 Strategies for AI-Powered Profitability

Retail TouchPoints

Competitive pricing is a key strategy to build customer loyalty and increase sales. By using AI to calculate prices based on market demand and other market conditions, you can ensure that you’re offering the best value to your customers. . This can help improve customer loyalty and help you stand out from competitors.