According to David Sambor, a leading expert in loyalty programs, acquiring new customers is 7x more expensive than retaining an existing one and compared to new customers, existing customers are 50% more likely to try a new product and spend 31% more on average. Retention has 2-3 times more impact on your growth than acquisition does and a 5% increase in customer retention can increase profitability by 75%!!! All this
According to David Sambor, a leading expert in loyalty programs, acquiring new customers is 7x more expensive than retaining an existing one and compared to new customers, existing customers are 50% more likely to try a new product and spend 31% more on average. Retention has 2-3 times more impact on your growth than acquisition does and a 5% increase in customer retention can increase profitability by 75%!!! All this
Want more tips and insight on what’s happening in the retail industry?
Sign up with 55,000+ retail and wholesale industry insiders on our weekly email list!
As boutique store owners, you understand the importance of gearing up for the retail extravaganza that is this entire holiday season. That’s why we’ve curated a set of exclusive tips, tailor-made for boutique stores like yours. Whether you’re a seasoned pro or diving into this season for the first time, our expert advice is here to empower you!
We are so excited to be bringing you some tips to make rolling into 2024 the smoothest transition yet! Here you will find our Boutique Owner’s End of the Year Checklist, filled with info on taxes, inventory, and more!
Anais Almazan, founder and owner of Pretty & Pink Boutique, shares her story from growing her business to building a true community.
As we approach the dawn of a new year, savvy small business owners are already gearing up to elevate their marketing game in 2024. Crafting a robust marketing plan is pivotal to staying competitive and relevant in the ever-evolving business landscape. To help you navigate this exciting journey, we’ve put together a comprehensive guide with valuable tips and insights. Plus, we’ll introduce you to two indispensable tools: the Small Business Marketing Handbook and the 2024 Boutique Boss Planner, designed to be your partners in success throughout the coming year.
