Retaining an existing customer is supposed to be a whole lot cheaper than attracting a new one. According to research, even a 5% rise in customer retention rates can boost profits drastically. But with shoppers constantly moving from store to store, this is easier said than done. One way sellers can attract customers is through location-based personalized shopping experiences. There are a number of ways to do this. Stores can entice opt-in customers by sending push notifications and email...

Americans are letting billions of dollars worth of gift cards go to waste. Time is money, and for American gift card holders, time is ticking! Gift cards are a popular choice for consumers for gifting and loyalty programs, but Americans are hoarding their gift cards instead of redeeming them. According to a report by Credit Summit, two-thirds of American consumers have at least one giftcard that is left unused. In addition, the report they released goes to show that there is around about a...

The Metaverse has been growing since 2020 and is predicted to hit $800 billion by 2024. The Metaverse has always been extremely popular with the gaming industry, but there are more areas where the Metaverse has been proven to generate revenue for companies. Retailers are now expanding and using Metaverse marketing to reach younger generations of consumers. Maybelline New York is using a virtual avatar alongside Gigi Hadid to promote their new Falsies Surreal Extensions Mascara. This...

Payment processing fees are becoming a source of discontent for many small business owners. In today’s world, customers often have the opportunity to make store purchases through a variety of options. Because card and mobile payments are extremely common now, a lot of businesses have adopted payment processing technology to provide that option and collect charges. However, the payment processing fees that come along with preparing these payments have also become a bane in the existence of...

What better time to run a quick spending spree than right after the fall of Covid? As the world recovers from the pandemic, a surprising trend has emerged – consumers are increasing their luxury spending despite the overall reluctance to spend. A recent survey by Criteo, an online advertising firm, found this trend across all income levels. So, what is driving this trend, and can it continue? According to a report by McKinsey & Company, the pandemic has created a K-shaped recovery, with the...