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Let’s stay together—customer retention in retail

February 1, 2021


In brief

The value of customer engagement in retail

A surge in digital customers is creating huge opportunities for retailers to review and adapt their customer engagement strategies.

Three waves of retail customer engagement

Wave 1: Know thy customer

Retailers are just starting their digital journey, with a primary focus on understanding the customer. Most retailers are in this wave.

Wave 2: Begin to take action

Retailers are deliberately structuring their data and insights engines to fuel personalized action.

Wave 3: Full personalization for each customer

Retailers deploy one-to-one personalized journeys in a seamless and automated way at scale, often running on cloud-based systems.

Retailers move from customer retention to value

1. Understand where you are today

Assess whether you are adapting to consumer behavior by using analytics and making data-informed decisions.

2. Align on customer strategy and gather insights

Put in place the right KPIs and analytics to measure truly customer-centric and retention-focused behaviors and activities.

3. Assess your technology and partner strategy

Determine current gaps in the technical architecture and how best to close these, such as using partners for speed to value where appropriate.

4. Turn insights into action, at scale

Summarize insights into key themes and outline specific actions that different business teams can own and act upon.

5. Establish clear governance

Assign clear ownership and incentives to equip your organization to deliver on the customer strategy.

Matt Jeffers


Matt works with leaders to re-imagine growth and digitally transform.

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