Remove 2024 Remove Customer Loyalty Remove Improvements Remove Operations
article thumbnail

Balancing Customer Loyalty in an Age of Growing Business Costs

Retail TouchPoints

Those forces from the days of the pandemic look to continue well into 2024 as stubborn inflation and higher interest rates continue to burden brands and retailers, which are faced with the unenviable task of balancing increasing costs with what consumers can bear. in February 2024 , an increase from 3.1% in January.

article thumbnail

2024 Predictions and Trends in B2B Ecommerce: Navigating the Digital Evolution

Retail TouchPoints

As 2024 unfolds, the B2B ecommerce sector is undergoing significant transformation driven by technological advancements and shifting buyer behaviors. Navigating digital transformation in 2024’s B2B ecommerce landscape hinges on a deeper comprehension of AI, omnichannel strategies and social commerce.

B2B 214
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Rethinking Returns: Innovative Strategies for Retailers to Drive Growth in 2024

Retail TouchPoints

There’s also a cost consideration for retailers: faster and more convenient returns mean products are restocked sooner, and customers who return items are more likely to shop again quickly. This cycle not only improves inventory efficiency but also encourages repeat business, creating a win-win for both the customer and the retailer.

Retail 254
article thumbnail

7 Targeted Retail Strategies for Revenue Growth and Margin Improvement

Retail TouchPoints

In today’s challenging business landscape, where profit margins are shrinking, supply chains are slow and uncertain, labor shortages are prevalent and inflation is a concern, it is crucial for retailers and brands to differentiate between understanding customer habits and fostering customer loyalty in order to succeed.

article thumbnail

How To Scale An Ecommerce Business (2024 Guide)

Smile.io

Scaling a commerce business is increasing revenue without a significant increase in operating costs. There are many scaling strategies for commerce brands—laying the foundation for growth, enhancing operational efficiency, expanding market reach, focusing on customer loyalty, and adding programs like Smile.io

article thumbnail

Passkeys: A Trifecta of Benefits for Easier and Safer Online Shopping

Retail TouchPoints

The Trifecta for Retailers: Security, Revenue and User Experience Passkeys are the perfect triple play for retailers: they offer enhanced security, improved user experience, and they help maximize revenue. Improved User Experience Research indicates that consumers may abandon their carts if there’s friction throughout the buying process.

article thumbnail

Data-Driven Dominance: Retail Analytics Insights for 2024 Success

Retalon

They offer a competitive advantage by delving into consumer behavior and operational insights. Forbes Those who have already embraced advanced analytics report a boost in operational efficiency by up to 60% McKinsey & Company. This approach helps businesses optimize their operations and create better experiences for customers.

Retail 41