Remove Consumer Remove Customer Loyalty Remove Data Remove Recommendation
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

Balancing Privacy and Personalization: The Key to Customer Loyalty 

Retail TouchPoints

This is before they even address the issue of managing customer data. Customers are also becoming more wary of the way retailers are storing their data. Businesses need to be transparent about their data protection approach and adapt existing procedures in line with digital innovation and regulatory expectation.

Insiders

Sign Up for our Newsletter

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

article thumbnail

6 reasons you should implement customer loyalty programs

Omnisend

There are different types of rewards and recognition programs that businesses can offer their consumers, but the challenge lies in how well the loyalty program objectives are met—such as helping the business grow or raising brand awareness. All of which helps to leave a strong, lasting impression and build brand loyalty.

article thumbnail

Personalization that Consumers Expect Post-Pandemic

Retail TouchPoints

Retailers must create experiences that are unique to their brand and tailored to individual customers based on their behavior, needs and habits. These highly personalized experiences, when offered to thousands of individual customers using proprietary data, are difficult for competitors to imitate and set the retailer apart.

Consumer 220
article thumbnail

High-Quality Data is the Key to Unlocking the Power of Generative AI in Retail

Retail TouchPoints

It came down to coding: Because generative AI is built using pre-existing data and rules, it can only produce results that are similar to, or derivative of, things that have been done or said before. Let’s talk about your data. Strong data is vital. The reason for these shortcomings was fairly simple.

Retail 217
article thumbnail

The Psychology Behind Customer Loyalty

Optimizely

But few brands are lucky to attain the ranks of true customer loyalty. For ecommerce brands today, the sad truth is most consumers go wherever the trends go. Sure, many of us— 77 percent, in fact —participate in some kind of customer loyalty program. Talk about setting a high bar! . Maslow’s Hierarchy of Needs.

article thumbnail

3 Ways to Maximize Zero-Party Data Collection During Black Friday and Cyber Monday

Retail TouchPoints

In today’s hyper-competitive ecommerce landscape, data isn’t just a buzzword. However, as stringent consumer privacy laws like GDPR and CCPA make collecting customer data more difficult, brands are having to adapt their data collection strategies to adhere to new standards.