Eric Cohen

April 20, 2022

Tech Talks - 4 Metrics to Reduce Customer Churn

In today's global and digital marketplace, many retailers have gone from shopkeepers to customer keepers. What does it take to compete in an omnichannel world?

In this episode of Tech Talks, EDITED unpacks the key strategies successful retailers keep top of mind for maximum customer retention. 

Retailers have gone from analyzing weekly data from their brick and mortar stores to monitoring real-time metrics from their websites - and the difference between a quick churn and a customer for life often rests on a brand's ability to have what that consumer wants, in stock, when they want it.

In this episode of Tech Talks, EDITED's Senior Vice President of Retail Science, Michael Ross, and President/Chief Strategy Officer, John Squire, join host Grace Hill to discuss retail's new reality when it comes to retention and how AI and analytics have shifted the goal of savvy retailers from thinking of product as their most important asset to that of their customers themselves.

 


Notable Quotable: "To learn the new metrics for what it means to measure your customer, how to talk about it, how to make decisions, whether it's on a Monday or a Tuesday or everyday becomes something that is unnatural...and causes a lot of pain and angst for retail executives." - John Squire

Michael Ross is the Senior Vice President of Retail Science at EDITED, Co-Founder of DynamicAction and an Executive Fellow at the London Business School.

John Squire is the President and Chief Strategy Officer at EDITED, Co-Founder of DynamicAction and a member of the NRF Digital Council.

 

Get in touch now to take the guesswork out of planning, pricing and phasing assortments for your category using the power of EDITED's SaaS connected Cloud Commerce Platform.