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What is Customer Retention, and Why is it Important?

Smile.io

As we enter a period of economic uncertainty, one thing will be more important than anything else for small business owners–customer retention. When customers are spending less on discretionary purchases, it’s important to emphasize loyalty. What is customer retention?

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Retailers Increasingly Turning to Third-Party Resources to Handle Fulfillment

Retail TouchPoints

While nearly two-thirds ( 65% ) of retailers responding to the 2022 survey had assigned in-store staff to these tasks, that percentage dropped to 56% in 2023. Another indication of this change is that the number of retailers providing dedicated space for order prep also dipped between 2022 and 2023, from 60% down to 43%.

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Digital Brands Groups Moves into Physical Retail with Plans for 50 Stores

Retail TouchPoints

DBG said it will use this first store to “to clear excess inventory at a meaningfully higher margin than selling into the off-price channel,” noting that it received a significant amount of excess inventory with its Sundry acquisition in late 2022. million in annual revenue and annual cash flow of over $500,000 a year.

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Seven DTC eCommerce Trends in 2022

GetElastic

The world of digital commerce is constantly changing, and with the rapid shift to online retailing as a result of the COVID pandemic, 2022 promises to be no different. With that being said, in this blog, I will give a general overview of seven major DTC eCommerce trends you should keep an eye on for your brand to succeed in 2022.

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3 Predictions for the Future of Omnichannel 

Retail TouchPoints

In fact, Retail TouchPoints has seen the number of channels used to conduct business grow year after year in its annual Omnichannel and Fulfillment Benchmark Survey. Mobile channels generated significant increases for 30% of respondents, and ecommerce marketplaces made significant revenue gains for 27%.

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2022 Predictions: Unified Commerce Increases Total Revenue

GetElastic

Industry analyst Gartner publishes predictions for the upcoming year based on research and trends, and 2022 brings us to their latest findings; perhaps the most dynamic subject on the minds of analysts and organizations alike, is the future of buyer behavior. 100% Digitally Focused on the Buyer’s Needs. Unified Commerce Experience.

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5 Ways Retailers Can Tackle Wavering Customer Loyalty

Retail TouchPoints

As you develop your plans for 2023, consider these recommendations, based on the 2022 survey findings: Diversify Your Marketing Mix . Customer acquisition costs online have reached unprecedented levels, which means marketing leaders are trying to diversify their toolkits. Stand Out Beyond Free Shipping .