With consumer expectations higher than ever and brand loyalty subject to shoppers’ fickleness, winning customer loyalty while maintaining healthy profit margins is no easy feat for today’s retailers. In fact, 59% of shoppers will not return to a store after they’ve had a bad experience, according to a recent study by technology market research firm Dimensional Research. On the other hand, customers who have a great experience will spend 2.5 times more than those who did not, Harvard Business Review reports.
“When you look at Amazon, it provides an endless product assortment and makes it incredibly easy for shoppers to get what they want, when they want it, all while delivering an impeccable customer experience,” says Chad Caperelli, director of product management at Radial, a global omnichannel technology and operations provider. “The ability to deliver on consumers’ expectations…
To get immediate access to the rest of this article and thousands more, sign up for a free Strategy Membership using the Join for Free button below. If you’re already a member, please sign in.
Want to read more? Unlock Free Strategy Membership