Acquiring and keeping customers is paramount in today’s competitive marketplace. It is increasingly important for retailers to retain their most important asset — their existing customers. This is because
customer loyalty is the most cost-effective way to profitably grow a retail business.
The challenge to all retailers is “How can I get my customers to be loyal?”
Building loyalty and retention, cross-selling related goods and services, broadening offerings to fulfil more of customers’ needs are just some ways of adding to the retailer’s profitability.
Some retailers are even going to the creative extremes ...