Focusing on customer retention is a powerful way for brands to navigate this challenge. By honing in on the needs, preferences, and desires of their existing customer base, brands can create tailored and personalized experiences that foster long-lasting relationships and drive brand loyalty
As the new-age consumers grow increasingly discerning and constantly explore new brands, it has become more important than ever for businesses to focus on both retaining existing customers and attracting new ones. A recent Euromonitor report on GenZ and millennials show that only 29% of millennials remain loyal to brands, emphasizing the need for a dual approach.