Keep ’em Coming Back!
arketing research shows that it’s much more expensive to acquire new customers than to retain current ones. In fact, according to a web article by the marketing firm Outbound Engine, it can cost five times more (bit.ly/Cust-Retention). The article adds that “one customer experience agency found loyal customers are 5x as likely to repurchase, 5x as likely to forgive, 4x as likely to refer, and 7x as likely to try a new offering.” With statistics like this, it’s worth taking the time and effort to create an effective customer retention program. Retail expert and consultant Flora Delaney addresses this topic in “Pull Off a Winning Loyalty Program” (pg. 36). She brings a wealth of experience to the table, providing insightful tips to help you keep your shoppers returning to your store.
CANDLES FOR ANY OCCASION Candles are a staple gift product. They’re ideal for a housewarming present or for almost any celebration or event, as they’re available in every imaginable color, shape, and style. See what we’re highlighting in “Candles & Scents to Fire Up Your Customers” (page 12). Because candles are such a common gift item, they could become the basis for a shopper loyalty program. After all, if you know your customers are going to buy candles fairly often, you’ll want to make sure they’re consistently buying your candles. STORIES TO INSPIRE There’s nothing more encouraging than success stories of everyday small business owners. They’re joyful reminders of the David and Goliath paradigm; you don’t have to be a Wall Street tycoon to achieve your dreams. Read the exciting accounts of retailer The Lazy Daisy (pg. 50) and wholesaler Second Nature By Hand (pg. 52). LAS VEGAS FIRST LOOK Check out the preview for the Las Vegas Market (July 28 to August 1) in “Las Vegas FIRST LOOK Summer Focus 2020 Vision” (pg. 44). You’ll find trend news and new highlights for the show. Get complete information at lasvegasmarket.com. TO YOUR SUCCESS! DAN BROWNELL, EDITOR
VOLUME 27, NUMBER 6
DIANA JONES President/Publisher, ext. 151 email@example.com
DAN BROWNELL Editor, ext. 154 firstname.lastname@example.org
MELISSA JONES Product Editor email@example.com
ANDREA GARBE Sales Account Executive, ext. 114 firstname.lastname@example.org
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ELIZABETH KROGWOLD Art Director
ROCKY LANDSVERK Editorial Director
CONTRIBUTORS: Flora Delaney Stephanie Finnegan Sarah Hoban Amy Meadows Jennifer Raines
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6 Smart Retailer AUGUST/SEPTEMBER 2019
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