Abercrombie & Fitch Bounces Back, Ways to Boost Your Revenue

| INSIGHTS

4 Ways To Increase Conversions & Revenue  

Retailers face a pressing need to retain customer loyalty and minimize cart abandonment rates. Highlighting essential strategies for success, key insights from nShift reveal the critical role of customer experience in sustaining market share amid heightened competition.

Retailers can leverage four fundamental strategies to boost conversions and drive revenue growth:

1. Optimize Delivery Options: Offering a variety of delivery choices during checkout can significantly reduce cart abandonment rates, potentially increasing conversions by up to 20%.
   

2. Leverage Post-Purchase Opportunities: Integrating marketing messages within delivery updates provide a valuable avenue for upselling after the purchase, capitalizing on the high open rates of such communications.
   

3. Prioritize Last-Mile Loyalty: Recognizing the impact of positive delivery experiences, retailers can cultivate enduring loyalty, as evidenced by the 58% of shoppers inclined to make repeat purchases following satisfactory deliveries.
   

4. Streamline Returns Processes: Simplifying returns procedures, particularly by prioritizing exchanges over refunds, enables retailers to retain revenue and mitigate the financial impact associated with returns, thereby strengthening overall profitability.

| NEWS

Retail

• Abercrombie & Fitch bounce back from near bankruptcy to growing sales & stock prices

• Nordstrom expects sales to decline in 2024, despite strong 2023 revenue

• Target to open 300 new stores and launch a paid membership subscription

• Foot Locker reports holiday-quarter loss of $389 Million 

• Macy’s take-over bid now at $6.6 Billion from investment firm

Ecommerce

• Puma is building a global e-commerce platform with Google Cloud

• Zulily inside story on its rise from Unicorn status to bust

• Growify releases marketing attribution software to provide insights on marketing performance

• Klaviyo launches Klaviyo AI with several key automation features

• Makip launches Unisize technology virtually sizes clothing items, reducing returns by 20%

Fashion

• REI Co-op unveils inclusive Spring gear line with non-gendered apparel

• Vista Outdoor rejects $2.9 Billion purchase offer

• Castore extends F1 Red Bull Racing apparel partnership with $200M deal 

• Spanx pushes into apparel with first-ever global campaign

• Congress’ Americas Act earmarks $14 Billion for circular fashion

• Ben Sherman launches first golf apparel collection and unveils tour ambassador

• Athleta partners with Ambercycle to incorporate textile-to-textile recycled materials into products

| EVENTS

Mar 12 - The Power of the Passionate Consumer (rsvp)

Mar 17-20 - Shoptalk (rsvp)

Mar 20 - Turn Shoppers Into Brand Advocates (rsvp)

Mar 27 - Consumers Want Meaningful Content. Can Brands Deliver? (rsvp)

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