Importance of Customer Loyalty In Retail Business

1. Importance of Customer Loyalty In Retail Business Loyalty customers are more worthy than the new customers as they spend more money and cost around 7 to 10 times less to keep, than it does to acquire a new customer. On an average, repeat customers spend more over 60% per transaction than new customers. At the end of the day, nurturing a loyal customer bodes well and should be an integral part of any retailer's strategy. Customers won't give their loyalty for free and in the present retail environment, the new customer is to surpass expectations. You need to offer a great customer experience, whether in store or online. Its difficult task, however without it "business as usual" can rapidly change into "out of business." The biggest thing is to get the retail right The secret to success is the loyalty to his customers and the relationships he has worked with them. "Customers buy from people whom they trust. Right now of digital everything and recorded in epos system, trust matters like never before". Money can't get you love "Trust is earned, not bought. Despite the fact that saying this doesn't imply that it can't be measured. The currency of trust is embodying steady attention regarding customer needs and desires all through the whole retail experience. How your staff engages in and manages them as people, shows enthusiasm and knowledge for the products they are selling, gives instances of use cases, processes returns if the product fails to deliver on its guarantee. Each customer interaction has the potential for you to create impact, from the copy in your communications to the customized offers you send them." Reap what you sow, use of epos system How many loyal customers can your business count on? Who are the most productive? How regularly would it be a good idea for us to communicate with them? What are their

2. preferences and how would we customize our interactions with them? Are there open doors for us to sell them different things? These are important questions that many retailers come up short on the time, data and tools to reply and follow up on. But, with the right tools, even independent retailers without a marketing team, can stay competitive and thrive. "Once completing all the hard work by finding the unique products, delivering world-class service to customers and with an incredible experience with store and online". The loyalty program helps us get the right information, the analytics give us the insights we need and the marketing automation makes it simple to follow up on those insights – all in one place. As a result of the hard work and using the epos system our business is up 70% compared over a year ago!