Direct-to-customer/Retail eCommerce sales have been on an absolute tear these past few years. The US alone is set to reach $150 billion in 2022 D2C sales, a 17% increase from 2021. Was this always the case?
Brands are increasingly turning to mobile apps to solve a plethora of challenges. While eCommerce growth has its own challenges and numerous aspects are crucial for online retail growth (such as shipping costs, payments, and marketing), the mobile app emerges as a critical channel with tremendous revenue potential and the ability to provide a best-in-class customer experience.
In this day and age, it’s no secret that having an app is a must for brands looking to take their growth to the next level. Not only does it allow customers to interact with a company on a more personal level, it can also help boost sales and create a more loyal customer base.
It seems now more than ever; that brands are dusting off their customer retention strategy. There is a 42% rise in the Google search term ‘customer retention’ (2018-2021), which shows this growth output is on the rise, and rightly so!
You’ve heard it over and over again: as a business owner, you need to know how your business is doing financially. Broadly speaking, financial metrics capture information indicating your business’s financial health. It’s important to track these measures so that you can make informed decisions about the future of your business.
Do you believe that one of your company’s most important indicators has the potential to build or ruin your brand so soon? It might be able to; it might not.
Why do new businesses fail? The most frequently stated factors are timing, money, poor market intelligence, and, in certain situations, a lack of focus, resources, or expertise. The more crucial question is: Why don’t startups grow into successful businesses?