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Cracking the Code of Customer Loyalty in 2024 Means Prioritizing Customer Lifetime Value Over Speed

Retail TouchPoints

There are two types of customers: those who buy and those who keep coming back. For VCs backing ecommerce upstarts, exponential growth and expansion often focuses on speed and a “growth at any price” mindset. The first is that loyal customers pay off by spending more and referring more.

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Product Substitution: How Savvy Retailers and Manufacturers can Build Supply Chain Resiliency, Reduce Costs and Improve Customer Experiences

Retail TouchPoints

When customers place ecommerce orders, the last thing they want is an unhappy surprise. Shipping delays and stockouts lead to frustration and disappointment, especially when logistical problems impact time-sensitive purchases, such as special occasion gifts, event tickets or prescription medications.

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Want to Cut the Cost of Fast Fulfillment? It All Starts with Inventory Placement

Retail TouchPoints

The problems with getting products to people quickly and cheaply are well-known: consumers want fast fulfillment, which is costly to provide, but they don’t want to pay high (or really any) shipping fees. Even Amazon , the trendsetter in fast fulfillment, isn’t immune to higher labor costs. in an interview with Retail TouchPoints.

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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. Stand Out Beyond Free Shipping . Top data-related challenges include: .

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Post-Purchase Experience: Building brand trust and customer loyalty

Fabric

“You’ve got to start with the customer experience and work back toward the technology, not the other way around.” – Steve Jobs One critical aspect that retailers can often neglect is the post-purchase experience for customers. The post-purchase experience refers to what happens after a customer has made a purchase.

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What Is AOV? Meaning, Importance & Tips to Improve Average Order Value

Groove

The AOV meaning is simple: It measures the average amount of money that your customers spend in a single transaction with your eCommerce business. Thankfully, this vital metric is simple to calculate, even while providing unmatched insight into your store’s performance and customer behavior. What Is AOV? Ready to boost your AOV?

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How Ecommerce Discounts Hurt Customer Loyalty

Optimizely

People choose to shop with Amazon because of the competitive prices, wide selection of products, familiar (and trusted) brand name, and an impressive range of delivery options. You’ll never be able to compete with Amazon because all of this is incredibly expensive! Build trust with your customers in every interaction.