How Retail Brands Can Retain Consumers Rather Than Simply Attracting Them

by MR Magazine Staff

The last several years have challenged retailers to become digital and then mobile brands. They’ve had to shift their focus from selling products to creating memorable experiences for consumers. Now the time has come for all brands to prioritize the user experience (UX), designing every customer-brand interaction with the user’s emotions and exact needs in mind. The UX mindset is more software developer than salesperson, and it works. Research by SAP, Siegel + Gale and Shift Thinking found today’s most reputable brands inspire loyalty and retain customers by focusing on how users experience their brand, not just on driving one-time sales. Loyalty today is more crucial to growth than ever, and a loyalty strategy must involve much more than a points program. According to an Accenture study, 77 percent of consumers say they’re quicker to retract their loyalty today than they were three years ago. At the same time, 68 percent of consumers are willing to pay up to 15 percent more for the same product if it entails a great experience. Read more at Adweek.