Retailers are at an impasse today — they feel plenty of pressure to attract as many new consumers as possible to generate more traffic and sales, but they also have an equally important task — ensuring that these shoppers will return again and again after their initial purchase. Merchants are discovering that strategies for both customer acquisition and retention should complement rather than compete with one another.
The second annual Retail TouchPoints Customer Acquisition and Retention Benchmark Report is based on a survey of 109 retail executives. The responses provide insights about the newest trends, business models and technologies impacting how retailers gain and retain shoppers, as well as which traditional strategies and solutions are still proving successful in today’s rapidly changing landscape.
The survey results reveal mobile’s increasing influence on acquisition strategies and highlights the necessity of rock solid in-store experiences to strengthen retailer-consumer relationships, while also covering the growth of subscription retail and the barriers retailers face in retaining shoppers.
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