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Why Uncommon Corporate Partnerships are a Must in 2024 (and How to Make Them a Reality)

Retail TouchPoints

The trend of a cautious yet resilient consumer has continued into the early stages of 2024, with high-ticket luxury and department store industries underperforming sectors that sell necessities — online retail, discount/club, automotive and grocery. Full-service restaurants are trailing their limited-service peers.

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RSP21 Reveals Top Growth Drivers for the Post-COVID Era

Retail TouchPoints

And how can retailers best prepare for these spikes? You have to have [social media] surveillance of course, but a better strategy is to use actual cloud-based software-as-a-service that handles the spikes for you,” Goetsch noted. All of these things are impacting your people in-store and your customers.”.

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How Do You Successfully Manage a Small Business?

Korona

Satisfied customers can generate profits through customer retention and referrals and lower customer acquisition costs. Lack of customer focus, on the other hand, can drive churn. Yet there are several strategies to improve your customer focus strategy: Meet your customers where they are.

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How to Recession-Proof Your Online Retail Business Without Raising Prices

Korona

It is much more cost-effective to focus on retention and lifetime value than to try to get new customers to make a purchase. It is five times more expensive to attract a new customer than to retain an existing one. However, by increasing customer retention by 5% , profits can increase by 25-95%.

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7 Tips To Improve Retail Store Performance

Korona

Providing your customers with a great customer experience means hiring sales associates who are passionate and knowledgeable about the products you sell. This requires a significant commitment to the interview and hiring process. Train these associates to create exceptional shopping experiences with every customer.

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Delivery Experience Management (DEM): Retail’s New Weapon To Drive Customer Experience

lateshipment

In a typical online retail transaction, the customer adds the item they wish to buy to their shopping cart. On the checkout page, they select delivery speed and shipping service type. Gain Control of Your Customers' Delivery Experience Like Never Before. Improve Customer Retention and Customer Lifetime Value (CLV).

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Are online marketplaces the future of eCommerce shopping?

365 Retail

With brands increasingly investing in technology to develop their own marketplaces – what impact will this have on ecommerce retailers who stick to traditional processes? . The rise of online marketplaces. Increasingly, online retailers such as ASOS are incorporating reviews from customers as they rely heavily on reviews.