As a customer, where will you look for, say, a new pair of shoes? If you’ve previously bought comfortable shoes from a store or website that offered a pleasant, smooth, and straightforward experience, chances are you’ll look there first. By doing so, you’ll become a repeat customer — and that makes you very valuable for […]
The core of customer loyalty is building a trusting relationship with consumers. While customers like to know what they’re getting, companies depend on consumers’ loyalty for the larger part of their revenue. A loyal customer looks for familiarity, reliability, and consistency from brands. They will thus buy a product even if it’s not currently widely […]
What’s in a name? For companies that want to succeed, the answer is — everything. But branding is much more than just the name. A brand is the emotion and story behind a business that the company relays to its customers through everything it does. The concept has become very prevalent in the last few […]
For the first time, images of huge, lined-up crowds armed with excitement and promo leaflets didn’t travel the world on Black Friday 2020. Instead, the shopping holiday was preceded by uncertainty in the retail industry as the global pandemic didn’t allow for mass gatherings. As you’ll learn from these Black Friday stats, this shopping holiday […]
For most people, luxury shopping is about occasional splurges on more expensive items. Whether you’re buying a gift or just want to treat yourself, luxury shopping isn’t something you often do. However, the market of luxury items has been thriving for decades, if not centuries. The luxury shopping statistics you’re about to read will answer […]
Word-of-mouth marketing (WOMM) occurs when consumers share their experiences and opinions on a product or service in interactions with other people. This has the potential to make those other people try it and become consumers themselves. As you’ll learn in our overview of the most recent word-of-mouth marketing statistics, it’s one of the most effective […]
Do you even remember what it was like to call your go-to pizza place on the phone and order your favorite pizza? For most of us, those days are long gone. Digital platforms have completely revolutionized the way we eat at home. Their websites and apps now even allow us to track our food step-by-step […]
Although many claim it’s a dying industry, retail is at the heart of every modern economy, and people worldwide participate in it daily. Because it’s so unavoidable, it’s crucial to stay up to date with the latest developments. Retail statistics provide important insight into the current state of the market. As such, they represent a […]
It’s been roughly a decade since the subscription box business model kicked off, and the very first boxes arrived at the doors of dopamine-filled customers. Since then, the number of recurring revenue-based businesses has skyrocketed. There are many financial benefits to this model, both from the perspective of the seller and the consumer. According to […]
Social proof is the unspoken force that fuels our deep-seated biases toward word-of-mouth recommendations. Otherwise known as informational social influence, this psychological phenomenon teaches us how to behave correctly in a given situation based on others’ observable actions and opinions. In this day and age, there’s no richer source of social proof than online reviews. […]
