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Harnessing the Potential of Returnless Refunds to Improve Profitability and Customer Experience

Retail TouchPoints

At a time when acquiring a new customer is five times more expensive than retaining a current customer, there is another return on this investment that might be even more lucrative in the long run. Returnless refunds are improving the almighty customer experience, and in turn, their potential customer lifetime value.

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Role of Knowledge Management in the Retail Customer Experience Scenario

Retail TouchPoints

According to Forbes, today’s business benchmark is customer experience. The key to having that edge over the competition is delivering top-notch customer experience, ensuring the quality of well-trained staff and continuously studying customer behavior and trends to ensure that customer needs and expectations are met.

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How Technology Fuels Customer Experience and Brand Value

Retail TouchPoints

At a time when brand interactions bridge both digital and physical shopping, it is increasingly important for retailers to leverage technology to improve customer experiences and create value. Here are a few examples of how technology enhances customer experience and strengthens brand value.

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Study: Why Marketplaces Attract Valuable ‘Power Shoppers’

Retail TouchPoints

Given that many of these expectations were first set by customersexperience with Amazon , it should come as no surprise that third-party marketplaces have become a key tool for many retailers to meet these consumer demands. It’s a high bar. Concerns about product quality ( 46% ) and negative reviews ( 45% ) are the top reasons U.S.

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The Trouble with Endless Aisles, Rogue Sellers, and Losing Control Over the Customer Experience

Fabric

Furthermore, losing control of the customer experience can attract bad actor sellers and expose businesses to financial, legal, and operational risks. Their marketplace has attracted bad actor sellers and their carefully-planned expansion into the long tail has eroded the customer experience and negatively impacted the brand.

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Why Mobile App Customer Experience Lags Behind Other Channels

Sailthru

Mobile commerce is set to grow 29% in 2019 , however, our research shows that mobile lags far behind on-site and email personalization, and doesn’t deliver the same level of customer experience. One study indicated that 38% of companies updated their apps once per month, and 45% update their app every two months to six months.

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Twitter and Facebook worst channels for retail customer experience, finds research by Eptica

Retail Technology Review

Retailers are neglecting social media when it comes to customer service, and are not listening to consumers to drive customer experience improvements, according to the 2019 Eptica Digital Trust Study.