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

Omnichannel Loyalty

  • Online
  • Instore
  • Mobile

Refer-A-Friend

  • New Customer Acquisition
  • Referral Gamification

Ratings and Reviews

  • Engagement
  • Omni Channel R&R

Revenue Benefits to Retailers

25%

Increased profit

5-20%

Increased frequency of purchase on average

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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.

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Resources 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.