Our data shows that on average 75% of customers never make a second purchase. That means most customers are one and done shoppers. One way brands attempt to address this is by creating a loyalty program to increase the number of repeat customers. However, jumping into any loyalty program without thinking about your customers and business goals can lead to a lot of wasted time and money.
For many marketers, organizing data into individual customer profiles is common practice. Organizing information in this way makes it easier to look up information about customers, and target them with personalized communication. But how much information does your customer profile truly have about your customers?
We are living in the age of Big Data, where 2.5 quintillion bytes of data are created each day. Data comes in every form and tells us everything we need to know about customer shopping habits and preferences, and retail marketers can and should use this data to create a better shopping experience. Customer data allows retailers to see a customer’s browsing and purchase history, send personalized emails, or check out a customer’s loyalty rewards, just by collecting information as the customer shops.
It seems that each year, I begin to notice holiday marketing earlier and earlier. This year, the unofficial start to the holiday season was October 20. This is when I saw the first holiday commercial of 2016. It was subtle, but there was a Christmas tree and lights hung in the background. Disenchanted, I took to everyone’s favorite soapbox, Facebook, to share my displeasure.
Numbers tell a very interesting story. For retailers, with such a heightened importance of the back-to-school shopping season, what are the key stats and facts? Our infographic identifies the emerging trends and statistics that every retailer and marketer of as they are crafting their back-to-school strategies.