- November 1, 2016
Loyalty-Building Retail ExperiencesShare this:
The winners in the idea economy will be those organizations that are data-driven in their approach to innovation.
Customer loyalty is a crucial part of retailers’ long-term strategy. According to RIS News, “Earning and maintaining loyalty is the key to creating differentiation, a stable customer base, and enduring success.”1 But today’s consumers are fickle, jumping from brand to brand in search of a better customer experience or better deals.
How can you build loyalty? Consumers are more loyal to businesses that consistently exceed their needs and expectations in satisfying ways. But consumers are all individuals with different needs and expectations. Treating customers as a consumer segment is no longer acceptable.
To satisfy them, according to EKN, “Consumers expect personalization – being offered an experience tailored to their needs and preferences based on their implicit behavior and explicit permission – across all interactions with a retailer. Not delivering on this counts as a failure in the eyes of the consumer.”2
In this blog series we explore how analytics helps retailers drive customer retention and loyalty. Learn more about the customer analytics opportunity for retail and join the discussion on the HPE Community Blog:
- Retail customer experiences that promote loyalty – Retail CX part 1 of 5 article
- Understand, predict, and shape retail consumer behaviors – Retail CX part 2 of 5 article
- Winning with retail analytics across the omnichannel journey – Retail CX part 3 of 5 article
- Deliver personalized customer experiences with retail analytics – Retail CX part 4 of 5 article
- Operationalizing customer analytics within retail – Retail CX part 5 of 5 article
1 “Winning the Loyalty Game,” October 2015, RIS News.
2 “A Framework for Omnichannel Personalization,” November 2015, EKN.