Traditional Promotional Practices Not Sustainable for Building Long-Term Loyalty
3rd March 2021 Symphony RetailAI has released a new piece of research entitled ‘Personalized Promotions: The Key to Bigger Baskets and More Frequent Trips’ – in partnership with Retail Systems Research (RSR). In the paper, RSR revealed that 64% of ‘Retail Winners’ say that “increased price aggressiveness from competitors” is the top external challenge in winning a greater percentage of consumer wallets. With this in mind, RSR explored the opportunity retailers have to drive profit and loyalty through more customer-centric promotions, breaking away from a routine “race to the b...
Source: kamcity.com