A customer who has made just one purchase has a 27% chance of coming back again, whereas second-time shoppers have a 45% chance of returning for the third time. The longer your customer lifetime span, the easier it is to sell—mostly because new customers are harder to convince than returning customers who are already satisfied with their purchase and therefore more willing to spend money with a business they’ve already tried out.
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Five Effective Ways of Boosting Your Repeat Purchase Rate
Despite the importance of increasing your repeat purchase rate, just 18% of businesses focus on customer retention whilst 44% of businesses focus on customer acquisition. That’s nearly half of businesses failing to put time, effort, and money into the right long-term investment.
Here are five strategies we recommend turning your attention to boost your repeat customer rate.
Focus on improving your CX
Building a fast and frictionless customer experience should be a top priority for any e-commerce business. Brands that highly customize their online experience also tend to outsell competitors by 30%. Your customers should enjoy a seamless and personalized customer journey from start to finish, from their very first visit to your website to the email confirmation of their first purchase.