Strategies to help retailers and brands compete for demanding consumers
When it comes to retail trends, topics like global choice, AI and voice-enabled ordering grab all the tech headlines. A lesser-known trend is the movement of consumers to membership-based shopping alternatives when they buy online. These kinds of sites – often called “shopping networks” – offer members special shipping, returns and selection benefits by aggregating stores and purchasing processes under one unified system or platform.
These networks provide services – like free and fast shipping – that shoppers can leverage across participating retailers. This, in turn, increases customer acquisition rates, improves purchase frequency, and raises conversion rates. Ultimately, it develops customer loyalty. With the right shopping networks, retailers can gain this loyalty without investing time and money into building these services themselves.
In this paper, we will examine the evolving retail landscape and explore how retailers can leverage membership-based shopping to:
- Boost profits by increasing purchase frequency, improving conversion rates and growing Lifetime Value (LTV)
- Leverage data and analytics across shopping sites for better customer insight, segmentation, and optimal offers
- Offer capabilities like frictionless checkout and multiple shipping options
- Access high value, frequent shoppers who heavily over index in online spending
Kathy Kimple & Terri Pucin, FitForCommerce