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12 Proven Customer Retention Strategies in Retail

RETAIL MANAGEMENT SOFTWARE

In the world of retail, the importance of customer retention 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.

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Shipping Journey: Everything You Need To Know

lateshipment

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.

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2024 Holiday Shipping Guide: Deadlines, Surcharges, and Smart Strategies for E-commerce Businesses in the US and Canada

lateshipment

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.

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How to Optimize Your Business’ Contribution Margin Ratio

Kissmetrics

Understanding the finances behind your business can help you increase your profits, cut back on expenses, and operate more smoothly. A contribution margin ratio is the difference between sales and variable costs within a company. The difference will then get used for fixed costs, like rent and insurance.

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How 5 Brands Grew Their Customer Lifetime Value 2X in Less Than 1 Year with Loyalty Programs

BigCommerce

And you can clearly see this particular brand is heavily focused on increasing returning customer spend. . This is because earn net new customers is expensive. It also means your customer lifetime value is low (which decreases how much you will be willing to spend on advertising –– and thus will limit your ad visibility).

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How to Use Data-Driven Customer Retention to Grow Revenue

Omnisend

However, every ecommerce merchant reaches a tipping point where it makes more sense to focus on retention. Of course, creating a customer retention 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 customer retention strategy.

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The Real Impact of Late Deliveries & How to Handle Them

lateshipment

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.