Nearly 15% of all online shoppers are repeat customers.
While they’re a relatively small percentage overall, returning customers actually make up about 1/3 of all online shopping revenue, and they spend 3x more than one-time shoppers on average.
Not only that, it also costs less to bring back a previous customer than to acquire a new one. So, focusing efforts on customer retention strategies — whether by community building with UGC, or optimizing lifecycle emails — is key to eCommerce success.
Why your brand should focus on growing repeat customers
Repeat customers are the backbone of a growing eCommerce brand. A strong focus on customer retention is essential for long-term success. In fact, customer retention statistics show that it costs five times more to acquire a new customer than it does to retain an existing one.
By nurturing loyal customers and maintaining a high level of customer satisfaction, eCommerce brands can build trust and a positive reputation, leading to repeat business. Satisfied customers are also more likely to recommend the brand to others, bringing in new customers at a lower cost.
Investing in customer retention strategies, such as personalized promotions, high-quality customer service, and effective communication, can lead to increased customer satisfaction and repeat business. Repeat customers are a reliable source of revenue and a key driver of business success. In short, repeat customers are a crucial component of eCommerce success, and should be a top priority for all growing brands.
