article thumbnail

[eCommerce 2021] A Step-by-step Guide to Customer Retention

lateshipment

Did you know that the average Customer Retention Rate (CRR) is just around 35% for eCommerce businesses. Just take a look at these stats 65% of a company’s business can be credited to existing customers. Companies have to spend 7 times more to get a new customer than to retain an existing one.

article thumbnail

Delivery Experience Management (DEM): Retail’s New Weapon To Drive Customer Experience

lateshipment

Hence the need for Delivery Experience Management (DEM). What is Delivery Experience Management? Organizationally Delivery Experience Management (DEM) sits at the very intersection of onsite customer experience, post-purchase customer experience, and last-mile order fulfillment. . Final Word.

Insiders

Sign Up for our Newsletter

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

article thumbnail

The Limited Role of AI in Ecommerce

Retail TouchPoints

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 customer retention and a brand’s bottom line.

eCommerce 264
article thumbnail

E-Commerce Post-Purchase CX Playbook For The Up-And-Coming Holiday Season

lateshipment

The impact they bring is catastrophic — wrecking customer experience, straining customer support teams, and ultimately threatening profit margins. By bringing all business functions together and working towards excelling in both, your post-purchase customer experience and operations at every stage of the process is vital.

eCommerce 130
article thumbnail

Expanding Your E-Commerce Enterprise: What You Need To Do To Foster Growth

365 Retail

As an e-commerce business owner, stagnation is your enemy; growth is the goal. To foster expansion, you must optimise various aspects of your business, from customer experience to data analysis. Identifying Market Opportunities Recognising market gaps and consumer demands is paramount for e-commerce growth.

article thumbnail

5 Must-Know Tips For Shopify Subscription Programs

Groove

Finding a loyalty and rewards tool that integrates with not only your eCommerce platform (Shopify) but also your Subscription platform ( Recharge ) used to be time-consuming and difficult. Increase Customer Retention. Reduce Customer Acquisition Costs.

article thumbnail

A Modern Retailer’s Guide to Dropshipping Fashion & Apparel: Part 2

Fabric

Throw in soaring customer acquisition costs , high cart abandonment rates , and declining customer retention rates , and you start to see why the fashion retail sector is such a competitive and unforgiving industry. Test, test, test! Feel free to schedule a call with us here.

Apparel 130