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Maximizing customer loyalty begins with understanding high-value customers and assessing their level of loyalty, according to IRI Worldwide’s Times & Trends Report titled, “The Omnichannel Journey: Translating Big Data into a Prescription for Growth.”
But to move customers up the loyalty ladder, and even acquire new customers, retailers need to shift from the standard category management perspective to a customer management perspective.
Industry experts estimate that it costs anywhere from five to 25 times....
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