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7 Targeted Retail Strategies for Revenue Growth and Margin Improvement

Retail TouchPoints

In today’s challenging business landscape, where profit margins are shrinking, supply chains are slow and uncertain, labor shortages are prevalent and inflation is a concern, it is crucial for retailers and brands to differentiate between understanding customer habits and fostering customer loyalty in order to succeed.

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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. Despite their investments, there are a few gaps and opportunities for improvement.

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Rethinking Returns: Innovative Strategies for Retailers to Drive Growth in 2024

Retail TouchPoints

There’s also a cost consideration for retailers: faster and more convenient returns mean products are restocked sooner, and customers who return items are more likely to shop again quickly. This cycle not only improves inventory efficiency but also encourages repeat business, creating a win-win for both the customer and the retailer.

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What is Customer Loyalty?

Smile.io

Loyal customers are the ones who eagerly await every product release you announce and shout your brand from the rooftops. But what exactly is customer loyalty? We’re going back to basics in this post to learn what customer loyalty is.   Table of Contents  What is customer loyalty?

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Product Substitution: How Savvy Retailers and Manufacturers can Build Supply Chain Resiliency, Reduce Costs and Improve Customer Experiences

Retail TouchPoints

When customers place ecommerce orders, the last thing they want is an unhappy surprise. Shipping delays and stockouts lead to frustration and disappointment, especially when logistical problems impact time-sensitive purchases, such as special occasion gifts, event tickets or prescription medications.

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Mastering Assortment Optimization: The Power of Wiser’s Product Intelligence in Retail Strategy

Wiser

Understanding Assortment Optimization Assortment optimization involves selecting the right mix of products to offer in order to meet customer needs while maximizing sales and profitability. This rich dataset allows retailers to gain a detailed understanding of product performance and market dynamics.

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Post-purchase Strategies to Turn One-Time Holiday Shoppers into Your Brand’s BFFs

lateshipment

With the importance of customer retention clear, it’s time to focus on one particular component that is crucial to increasing your customer loyalty in the long run — ‘the post-purchase customer journey’. The Power of Post-Purchase CX Post-purchase issues tend to drive customers away.