Retail Industry is Redefining the Customer Experience
Retail industry is undergoing a massive transformation due to the changing consumer trends. The advancement in ecommerce has made retail more competitive, and retailers are geared towards bringing experience to the customers. As a result, loyalty becomes an important factor in the retail game.
For retailers, the primary benefit of Customer Loyalty is customer retention. Loyalty programs accomplish customer retention by rewarding loyal customers for their repeat purchase behaviors. Loyalty members spend 5-20% more on average than non-loyalty members. If customers are retained, retailers get huge ROI through incremental increases.
Key Products to Accomplish Growth in Retail
Online
Revenue Benefits to Retailers
25%
Increased profit
5-20%
Increased frequency of purchase on average
Retailers that succeeded with Annex Cloud’s Platform
Building Strategies to Advocate Loyalty
Retailers must integrate 'advocate loyalty', build lucrative campaigns, implement end-to-end marketing, and create omni-channel opportunities to engage customers.
DOWNLOAD WHITE PAPERResources for Retail
Market Movers Video
Learn what Maria Morais, Global Industry Principle at SAP says about. Industry experience physical to digital & challenges caused by the COVID-19 Pandemic.
