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In the world of retail, the importance of customerretention cannot be overstated. As businesses focus on attracting new customers, it’s equally crucial to invest in keeping existing ones. Retaining customers not only ensures consistent revenue but also fosters brand loyalty and advocacy.
What is the Shipping Journey? Your customers shopping journey refers to the steps theyve taken before, during, and even after they make a purchase at your store. To ensure your existing customers stay hooked, consider post-purchase emails, loyalty programs, and a hassle-free returns and exchange process, should they need it.
There are hefty fees for merchants when it comes to returns — shipping is costly and restocking takes time and money, which can take a toll on any business. However, not providing a frictionless customerexperience has long-term growth implications that you need to consider if you hope to maintain a successful e-commerce business.
So, in this blog, we’ve covered a comprehensive holiday schedule in the form of information on shipping deadlines and peak season surcharges for the 2024 season. The holiday shopping rush can turn out to be overwhelming, leading to issues like shipping delays, inventory shortages, customer service overload, and so much more.
At a time when brand interactions bridge both digital and physical shopping, it is increasingly important for retailers to leverage technology to improve customerexperiences and create value. Here are a few examples of how technology enhances customerexperience and strengthens brand value.
Stitch Labs is a purpose-built inventory management software to help brands improve customerexperience and scale efficiency. When we talk about the future of retail, industry news is abuzz with the idea of brands creating experiences for their customers. Using Data To Improve CustomerExperience.
Shipping delays are inevitable even with the most efficient carriers. And when they happen, they tend to drive your customers away. Dealing with shipping delays is no rocket science but first, we’ll bust a few delay-related myths along the way to make it easier for you. Shipping Delays are More Common Than You Think.
Low prices, fast shipping, and free returns are three must-haves for an online business to make the cut in today’s market. With Amazon rewriting the eCommerce playbook and retailers having followed suit to stay competitive, the focus has now shifted to the quality of delivery experiences. The Post-Purchase Experience Gap.
Such instances can instantly escalate things and infuriate your customers, who might make hasty decisions that can prove to be costly for you. The first action a frustrated customer would take in such situations is simply choosing to quit shopping with you, as a result of the bad experience they faced.
These sorts of requests — known as chargebacks — are very expensive and time-consuming for all parties involved. In fact, there are roughly 615 million chargebacks happening every year and the average chargeback costs $191, which amounts to $117.46 Tackling issues that affect the overall customerexperience is crucial.
You pick it, pack it, and ship it via an expedited service from your shipping partner. As fate would have it, your shipping carrier fails to inform you of it and John, couldn’t make it to his high-school reunion looking dapper in his swanky , new tux. So much for paying your shipping carrier all those dollars.
The Human Cost of Late Deliveries. You would most certainly not accept an excuse like “We outsource our shipping needs to FedEx, UPS, or DHL, so please check with the shipping carrier.” Now put your customer in the same situation. They lead to customer churn. Neither do they help in improving customer satisfaction.
Finding Partners to Tackle Fulfillment Complexities These developments are part of a larger trend of outsourcing fulfillment’s last mile, traditionally the most expensive leg of the product’s journey, to partners that specialize in mastering its complexities. The percentage using third-party companies also rose, from 29% to 38%.
The reasons can range from fit or quality issues to customers simply changing their minds. Exchanges streamline the process by allowing customers to swap items without disrupting sales. Both options enhance customerretention while minimizing the financial impact of returns on your eCommerce business.
However, every ecommerce merchant reaches a tipping point where it makes more sense to focus on retention. Of course, creating a customerretention strategy is easier said than done—unless you have data to back it up. In this piece, we’ll cover what it means to create a data-driven customerretention strategy.
Meaning, the customerexperience (CX) has become a cornerstone of customers choosing brands to shop with and businesses need to go above and beyond to provide a positive delivery experience in order to keep customers coming back. The e-commerce landscape today is more competitive than ever.
It costs 5X less to retain a customer than it does to acquire a new one. That’s why customerretention is crucial to growing your Ecommerce business. What is customerretention? Customerretention is the ability to encourage customers to keep coming back to make purchases.
Post-purchase engagement is not simply customer service, although customer service interactions can be a component of it. It’s also not solely about transactional communications like order confirmations or shipping updates; purchase engagement is more proactive and focused on nurturing your relationships with customers.
So much that late deliveries tend to drive customers away. Read on further to know how much late deliveries can cost your business and how you can deal with them in order to spur customers to spend more on your brand! The Human Cost of Late Deliveries. You Bear the Cost of Late Deliveries. How much, you ask?
For instance, if you spent $5 to earn a customer and you know that over the course of that customer’s lifetime with your brand, they will likely spend about $100, that’s a great lifetime value to churn (or cost to acquire a customer) ratio ( LTV to CAC ). What is a Customer Loyalty Program? Acquire new customers.
Before we get to the context of things, remember that the post-purchase phase takes up 50% of the overall customerexperience. But most eCommerce brands, who take a top effort to convert prospects into customers, unwillingly neglect to do the same for what comes after.
The importance of a quality shippingexperience in e-commerce cannot be stressed enough. This is primarily due to the fact that the post-purchase (shipping + delivery) takes up 50% of the overall delivery experience. Thus, make sure you understand and follow these 10 best practices when it comes to e-commerce shipping.
Retailers have a vast amount of data about customer shopping behavior and purchase history. Generative AI can dramatically improve customerexperiences and drive revenue by helping shoppers find the products that most match attributes of what they’re looking for today, not just what they have purchased in the past.
It often has to do with the price: they simply want a sweeter deal. You can entice them back by sending them a coupon or discount via re-targeting – either through the email address they left, or via social media. Why focus on customerretention , and not just increasing the number of new visitors? Think Ahead.
Some may tell you that even if you can’t compete with their scale, you can compete in other ways, like offering competitive discounts and free shipping for your own customers. But in terms of product pricing, you still probably can’t offer a better deal to your customers than the price they could find on Amazon.
The Cost of Maintaining the Returns Status Quo The existing fragmented and outdated returns process carries significant costs for retailers, both in financial terms and in customer satisfaction. Retailers must recognize that an efficient returns process is not just a cost-saving measure but also a growth strategy.
The Dippin’ Dots team wanted to ensure that this identity transferred 1:1 to their new eCommerce experience. Shipping: The client’s primary technical requirement was the ability for consumers to purchase Dippin’ Dots online. Finding a way to engage with customers, however, can be a challenging task for merchants.
Retailers can no longer turn a blind eye to the reality that today’s increasingly online shoppers are savvier than ever and quick to make snap judgements about brands for as little as delayed shipping. From order placement to shipping notifications, consumers demand regular updates about their orders or returns.
Shipping is the most important factor in any online shopper’s decision criteria. Why Customer Satisfaction Takes a Hit in the Post-Purchase Phase. Loss of Last-Mile Control to a Third-Party Shipping Partner. Most businesses outsource the delivery process to a shipping carrier like FedEx, UPS, or DHL.
However, according to the Adobe Digital Index Report , returning customers make up 40% of revenues whilst representing only 8% of visitors. This tells us there’s a huge opportunity to increase customerretention rates further to support revenue growth. Why would a customer come back? It’s important to set the scene.
The Benefits of a Mobile POS for Retail Stores In the fast-evolving retail environment, where customer expectations continue to rise, delivering quick, personalized service is no longer optional; it’s essential for business growth and customerretention.
Omnichannel e-commerce is a marketing approach that creates a unified customerexperience across multiple platforms. Specifically, omnichannel retailers deliver the same experience across every channel and create a seamless experience that transcends individual platforms. Increase CustomerRetention Rates and Sales.
It involves taking action as required to correct issues in the last mile and constantly engaging customers to validate brand promises. DEM is all about offering each of your customers a memorable last-mile shippingexperience that not merely satisfies but also delights and makes them advocates of your brand.
Customer acquisition costs online have reached unprecedented levels, which means marketing leaders are trying to diversify their toolkits. However, brands cannot underestimate the importance of implementing a compliant and transparent process for collecting and using customer data. . Stand Out Beyond Free Shipping .
To drive customerretention and loyalty, most brands and retailers continue to rely on purchase discounts ( 77% ) and loyalty program points ( 61% ), according to Retail TouchPoints research. The financial piece is important, where people get access to additional discounts, special prices or free stuff.
Customers use this offering because of the convenience of items showing up at just the right time. On top of that, these replenishment programs typically include a modest discount on products that would otherwise be bought at full price. The most well-known example of this program is Amazon’s Subscribe and Save on Prime-shipped items.
The primary role of a 3PL provider is allowing their customers, i.e., primarily e-commerce and B2B businesses to scale without needing to invest in additional warehousing or labor. However, as your 3PL business scales and your customer base grows, managing post-purchase operations manually can become unmanageable.
The primary role of a 3PL provider is allowing their customers, i.e., primarily e-commerce and B2B businesses to scale without needing to invest in additional warehousing or labor. However, as your 3PL business scales and your customer base grows, managing post-purchase operations manually can become unmanageable.
In the ever-evolving landscape of ecommerce, building a profitable pricing strategy is like orchestrating a symphony that can significantly impact your success. Nowhere is this more evident than on popular online marketplaces, where the art of pricing can make or break your business.
Use this data to forecast what products your customers are most likely to buy, then plan what your business needs to do to meet the coming sales peak and holiday season demand. Zero in on what customers are expecting in terms of products, price, convenience, etc. and act accordingly to provide great customer satisfaction. .
Underlying these experiences is the invisible hand of artificial intelligence, steering our post-purchase journey. While AI presents vast possibilities to enrich this journey, it also ushers in significant challenges that could negatively impact customerretention and a brand’s bottom line.
Customers use this offering because of the convenience of items showing up at just the right time. On top of that, these replenishment programs typically include a modest discount on products that would otherwise be bought at full price. The most well-known example of this program is Amazon’s Subscribe and Save on Prime-shipped items.
Leslie Hand, GVP of IDC Retail Insights, discusses the new parameters of the customerexperience: “Think about the enhanced customerexperience through one-to-one mobile and one-to-many streaming content personalization capabilities — we’re starting to see that pop up. Key Ecommerce and Digital Marketing Trends.
Existing customers vs. new prospects graphic. Image Source: Antevenio Your post purchase customerexperience can make a huge difference to your customerretention rate. A good post purchase experience shows the customer that you’re invested in their satisfaction.
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