Return fraud is accelerating: That's forcing retailers to evolve beyond traditional prevention methods.
Brands can’t afford to take their value-based propositions lightly: Roughly 2 in 3 consumers have stopped or reduced purchasing from brands that conflict with their values.
US financial institutions (FIs) will face low digital account growth over the next few years. But some customer groups will have higher growth potential than others, and FIs must understand how to build relationships with them.
Retailers turn to returnless refunds to cut costs and boost loyalty: Amazon, Walmart, and Chewy are among the companies that rely on flexible returns policies to keep shoppers in the fold.
Retailers can distinguish their brands via the post-purchase experience: A handwritten note, branded packaging, or free gifts with an order are more likely to inspire repeat purchases.
Despite making frequent purchases, only 10% of customers are truly loyal to a specific brand, new research from Cardlytics found. Brands can boost growth by targeting nonloyal shoppers and increasing their spending share.
Banks should plan to adjust their products to meet changing customer needs and sentiment, while considering changing financial regulation.
Building and renovating branches to align with their new vision is bringing them new business.
Payment providers are tapping genAI to personalize marketing offers and virtual assistants while streamlining customer checkout. These tools could help providers monetize transaction data and help merchants drive sales.
42% of retail executives worldwide say the most important role of physical retail as omnichannel buying evolves is to provide an in-person component to the customer experience (CX), according to April 2023 data from Bain and Aptos.
The CFPB's proposed Personal Financial Data Rights rule accelerates progress toward open banking in the US, changing the game for customer retention.
To retain existing customer relationships and forge new ones, Adobe’s 2023 Digital Trends: Retail in Focus report found that crafting impactful, hyperpersonal shopping experiences is essential. Learn how retail leaders can meet consumers’ rising expectations across all channels for a more efficient year’s end.
“We all want to create that aura and the air of excitement so the customer across all channels can say, ‘It is indeed my happy place we’ve got here,’” Dhriti Saha, COO of The Container Store, said at eTail Boston this week.
Macy’s looks to private labels to boost its bottom line: As consumers pull back on discretionary spending, retailers are turning to private labels to differentiate their merchandise and improve margins.
Along with digital upgrades, banks must improve the customer experience with relevant products and services.
Banks that win customers through high savings rates or acquisitions still need to put in work to earn customer trust and loyalty.
Amazon, Costco Wholesale, and other retailers now face an uphill battle to win recurring revenues in the era of subscription fatigue.
Inflation is starting to ease, but consumers remain cautious with their spending. This puts pressure on consumer packaged goods (CPG) brands and retailers to attract customers without affecting the bottom line.
Charging for returns is an easy way to lose customer loyalty: Retailers need to think of returns as an extension of the customer experience—and not just a cost to be managed.
Retailers enhance their rewards programs as inflation shifts consumer spend: But that’s easier said than done, as overly complex rewards can steer away customers rather than encourage their loyalty.
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