Bluecore

🚨🔬New Bluecore data finds that retailers with the highest shopper identification rates see 53% more repeat purchases vs. brands with lower identification rates. 🔬🚨 For most retailers, this year’s profits will come from the customers they already know. So this new data is a significant indicator for how marketers can simultaneously build short-term revenue lift and long-term profitability. This is one of many new findings from the industry’s first-of-its-kind Customer Growth Benchmarks report. Instead of capturing the data that is easy to collect (i.e. channel metrics such as open rates, click rates), Bluecore’s annual benchmarks report focuses on the *critical benchmarks that are most aligned with business health.* 🤯 Our report dives into key customer-centric metrics for retailers across the lifecycle, and across retail categories. Each category is benchmarked separately so that retail leaders are able to compare their own performance with a relevant peer set. While every brand has unique trends, Bluecore finds that retailers focused on the metrics and best practices that drive customer movement have higher performance across the customer lifecycle. Check out the full report to see how your brand stacks up against your peers for: 🔹Shopper identification rates  🔹Retention rates  🔹Repeat purchases  🔹Reactivation  🔹and more Read more: https://lnkd.in/eecebNgw

Our data shows that 74% of a retailer’s customers are one-and-done, which drags down average purchase frequency within a new customer’s first year. The percent of first time buyers who made a second purchase was only 16.5%, leaving a lot of room for improvement across retail sectors. Repeat purchase rate varies widely. Different retail categories see major differences in repeat purchase based on differences like price point, how often people need to replace consumable products. 💄 Health & Beauty retailers had the highest repeat purchase rates at 21.5%. These brands tends to sell a range of lower-cost items that people purchase often. 💍 Jewelry and Luxury had the lowest repeat purchase rate, possibly due to the high price point and durable nature of many luxury goods. Understanding how you compare to your category is a good place to start. For any brand, regardless of category, focusing on strategies that improve repeat purchase rates will have a positive impact on revenue. In fact, our research shows that repeat customers have the biggest positive impact on a brand’s profit, higher than newly acquired customers. Brands can drive their repeat purchase rates up with strategies that prioritize identification and marketing strategies that focus on customer movement. Check out the full report to see how your brand compared to peers across critical metrics like repeat purchase rates and more: https://lnkd.in/eecebNgw

Once you acquire a shopper, you can set the stage for what will (hopefully) be a long, fruitful relationship. But first, you have to convert them. Conversion is easier said than done given fierce competition, cagey social platforms, and budget-conscious shopping. During our most recent Coffee & Commerce event, we shared four ways you can overcome these challenges and turn non-buyers into customers. ☕ Pay attention to customer signals: From visiting a page to carting an item, everything a shopper does represents a signal you can react to with relevant messaging. They’re especially powerful when combined with product signals, such as whether an item is new or low inventory. ☕ Implement frequent testing: If you’re not sure what will get a shopper past the final hurdle of the checkout page, you can also use those customer signals to A/B test your way into a substantial conversion lift. We’ve found that free shipping is far more enticing toward the *end* of the purchase funnel than the beginning. ☕ Boost first purchase value through recommendations: Think of magazines and chocolate bars by the register. Most people aren’t going to the grocery store specifically for those items… but while they’re there, they may as well, right? You can mimic that by enhancing search result pages with relevant product recommendations. ☕ Optimizing social marketing: Social media marketing has grown far more expensive while walled gardens have made the platforms harder to scale. One workaround is to separate buyers from non-buyers before you input your audiences, and discount accordingly. Learn more here: https://lnkd.in/gB6rVRpX

New Bluecore data finds that the ability to ID shoppers and customers = the ability to create experiences that increase repeat purchases (and retention) for your brand. Identification is the foundation of moving your customers -- and in our first annual Customer Growth Benchmarks report this is one of the many stats that prove it: Retailers with the highest shopper ID rates (>40%) have ✨53% higher repeat purchase rates✨ vs. those with the lowest ID rates (<10%). Check out Jason Grunberg's thoughts on our top 3 findings — to compare your performance relative to your peers in similar retail categories check out the full report. https://lnkd.in/gUYuq6Nw

Every year the Women in Retail Leadership Summit gets better..and bigger. Not easy with the attendance & content focused on retail and technology executives. I had the pleasure of presenting on stage with Karilyn Anderson from SPARC Group LLC to discuss navigating the COE model to pick the right partners to drive meaningful growth and customer loyalty. And it was incredible to have close to 20% of the attendees from the top retail 1000 as Bluecore customers 🤯 Huge-shout out to a ride or die crew of Bluecorians who gave every brand the VIP experience they deserve: Sarah Cascone Rosy Kehdi Liz Madsen Caitlin Vance Jasmine Bienvenue-Arnesen @michellegabson @samanthafreeman

The key to our company’s success? The Bluecorians who power our platform. Today, we’re shining the spotlight on Codey Oxley, who was drawn to Bluecore for the Engineering team’s “As simple as possible, as powerful as necessary” mantra. Get to know him below!

Less than one week out from my favoriteeee event of the year. #WIRLS 🥂 Excited for sunset cocktails to kick off the event on Sunday 📊 We've got an exclusive Customer Growth Blueprint for retail mktg leaders 👟 AND we're offering custom Nikes for anyone onsite (DM me for deets) Looking forward to spending time with my fellow Bluecorians and our fantastic customers and partners ❤️ Karilyn Anderson Jennifer Slegers (Sopko) Gabriela Phillips Cindy Marshall Jennifer DiPasquale Melissa Campanelli Sherene Hilal Liz Madsen Rosy Kehdi Jasmine Bienvenue-Arnesen Michelle Gabson Samantha Freeman Caitlin Vance

Excited to be speaking at CommerceNext 2024 on June 11th alongside an incredible group of panelists: Noam Paransky, Amber Turley and Ryan Fagan. We’ll be talking about how Tapestry, Sephora, and Lowes are using a customer-first approach to grow both online and offline sales for the long-term. Can’t wait to see everyone in the CN community. Register here to join me: https://lnkd.in/e-NAyxa2 #CN2024

“Make new friends, but keep the old. One is silver; the other, gold.” While that old poem wasn’t written about retail… it could have been. Last week, we released our first-of-its-kind Customer Growth Benchmarks Report. Rather than focus on channel metrics such as opens and clicks, we zeroed in on the customer-centric metrics most aligned with a brand's business health. One of our top takeaways? Across every vertical, active buyers placed 57.6% more orders than new buyers. And they spent nearly 70% more as well. 🤯 Check out the full report to see how you compare against your peers for: 🔹Shopper identification rate  🔹Repeat purchase rate 🔹Reactivation rate 🔹and more https://lnkd.in/eecebNgw

Reach drives retail growth. But between cookie depreciation and rising acquisition costs, it’s never been more at risk. Many retailers may default to “more” — more emails, more texts, more discounts — which can help hit quarterly goals. But they need a sustainable growth framework that *also* drives long-term, profitable growth. That framework is customer movement. Customer movement is the practice of understanding customer value and using signal-based strategies to “move” shoppers from: 🔹  Unknown to known 🔹  Non-buyers to new buyers 🔹  One-time buyers to repeat and eventually, loyal customers 🔹  Lapsed to reactivated buyers Customer movement increases reach, relevance, and purchase frequency. No wonder retail leaders who embrace it see an average three-year customer retention rate of 59%. Learn more: https://lnkd.in/eT2ehSxM