According to various studies, nearly 70% of consumers will abandon their carts before completing purchases. What drives this behavior in consumers and how can retailers and brands combat it? Common Causes for Abandonment The popularity, accessibility, and convenience of online shopping have created higher consumer expectations than ever, leading to lost sales. High Shipping Costs: […]
Customer lifetime value (CLV or CLTV) is a way to measure the total profit a company can earn from a customer throughout their entire business relationship. This includes their first purchase, future purchases, and how long they shop with the company. For example, think about someone who loves Apple products. They regularly upgrade their iPhone, […]
What Is Checkout Optimization? A smooth and hassle-free checkout experience can make all the difference between a sale and a lost opportunity. This is where checkout optimization comes into play. Checkout optimization is a strategy aimed at boosting a retailer’s conversion rate by fine-tuning the final steps of the customer checkout process. Why Does Checkout […]
Customer data has always been an asset for brands, and its importance continues to grow. The ability to collect, analyze, and leverage customer information holds a lot of potential for driving the growth of your business. In this blog, we will explore the impact that customer data can have on various retail operations and its […]
