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Building and maintaining a loyal customer base is critical to the long-term success of retail. This is especially true in today’s multichannel digital shopping space that now even includes hybrid brick-and-mortar “smart stores.”
Retail predictions recently released in a worldwide study by IDC strongly indicate that by 2024, 40% of retailers will adopt a multilevel loyalty strategy. To do so, they will leverage a “unified view” (think omnichannel) of the customer experience to increase retention rate by 20% and Net Promoter Score (NPS) by 35%.