Customer loyalty on the Internet is a key driver of long-term profitability. Loyal online customers, just like offline ones, spend more, refer more people, and are more willing to expand their purchasing into new categories.
E-commerce is a term for any type of business that involves the exchange of information across electronic networks. It involves all aspects of an organization’s interaction or commercial transaction with suppliers, clients, stakeholders, and customers, etc. The greatest advantage is its huge reach across the global market and being able to conduct business 24x7x365 days by selling various kinds of goods and service.
Since the e-commerce platform has enabled the customers to directly interact with sellers, it has led to a reduction in the supply chain process and accordingly customers also get to buy at a lower rate. It provides various choices for customers to choose among different sellers according to their preference for a product and budget ascertained.
Today the users of e-commerce platform are increasing rapidly it urges every seller to pull new customers and also to retain loyal customers. Retaining on loyal customers creates a regular income, the ultimate goal of every seller is to transform occasional customers into loyal a one. Thus, it has urged sellers to create various retention strategies to increase profitability and gain market share by retaining customers.
Retention Strategies of E-Commerce Business Customers
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