When consumers are not feeling too confident about the direction of the economy or their own financial conditions, it certainly takes a toll on retailers. During times like these, which is occurring now due to slow recovery from the global recession, merchants do everything in their power to keep shoppers coming back for repeat purchases.<\/p>\n
Brand Channel reports that there have been recent declines in consumer optimism<\/a>, mainly due to ongoing economic recovery and payroll tax hikes that took effect at the beginning of 2013, leaving many workers with less take-home pay. The source explains that this has led to drops in brand loyalty for many companies, as shoppers look to more affordable businesses to find the products they want and need. This is taking place both in brick-and-mortar locations as well as ecommerce platforms.<\/p>\n So what can retailers do to combat this decreasing loyalty and keep their valued customers? In a blog post for Media Motivators, retail industry<\/a> professional Thomas Murrell writes that companies should offer repeat shoppers a way to share their positive experiences<\/a>, whether through social media, retail websites or referrals. Providing loyalty programs is an effective strategy to enhance satisfaction and loyalty, so handing out deals and discounts to patrons will keep them coming back, Murrell notes.<\/p>\n","protected":false},"excerpt":{"rendered":" When consumers are not feeling too confident about the direction of the economy or their own financial conditions, it certainly takes a toll on retailers. Continue reading