Remove 2023 Remove Consumer Remove Customer Loyalty Remove Technology
article thumbnail

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. Collect and Leverage First-Party Data .

article thumbnail

How to Improve Digital Privacy and Trust Between Consumers and Companies

Retail TouchPoints

Consumers are quickly losing trust, and companies must act swiftly and responsibly to restore it. A Pew Research study reveals a concerning trend: 67% of consumers have little understanding of what companies do with their data, a sentiment echoed by an IAPP study which found that only 29% feel informed about how their data is protected.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Sensory Enabling Technologies are Radically Reshaping the Future of Digital Retail

Retail TouchPoints

Today, it is possible to stimulate all consumer senses online. Sensory Enabling Technologies (SETs) enable consumers to feel textures, smell and even perceive the taste of a product. Key takeaways: SETs enable brands to craft exemplary customer experiences online by appealing to consumers’ multisensory perception.

article thumbnail

Discount disbelief, returns charge debate, and customer loyalty at a premium. Consumer expectations for 2023

365 Retail

Consumers are looking to get more with less with the same high expectations of brands as the cost-of-living crisis and looming recession rolls into 2023. Karel Schindler, CEO of ROI Hunter outlines four trends that retailers cannot afford to ignore next year: 1) Discount doubt: Consumers will wise up. in November 2022.

article thumbnail

Four Ways Retailers can Boost Retail Media Network Profitability

Retail TouchPoints

However, there is a growing need for technological advancement in this market, particularly in terms of improved targeting and data strategy. The unique advantage of retail media, which includes access to customer transaction data, provides advertisers with reliable data, closed-loop measurement and proven performance for their ad spend.

Retail 238
article thumbnail

If You Want to Succeed in High-Heat Retail, Bake Fairness into the Experience

Retail TouchPoints

Consumers are often met with an unfair experience, failing websites, bots eating up stock. With limited edition products, brands are attracting and unleashing a whole new set of customers and brand loyalists. Thus, instituting more guardrails during peak moments protects not only a company’s business but customer loyalty as well.

article thumbnail

Mastering Customer-Centricity in Retail: Evolution of Consumer Experience in 2023

Dynamic Action

How is The Customer Experience Evolving in 2023? Customer Loyalty is More Important than Ever As inflation and rising living costs continue to increase, customer loyalties are being tested as purchases become more considered and restricted to essentials. McKinsey & Co. Interested in learning more?