We analyzed over 150 billion dollars in retail transaction volume to determine the customer-centric KPIs that drive growth.
Players like Amazon are transforming the retail industry. Those that survive (and thrive) are the ones that focus relentlessly on the customer. They obsess about customer KPIs in the boardroom. And they've organized their teams and technology to be able to focus on customer goals like boosting the 1-2x buyer rate and preventing churn.
To understand which customer KPIs are responsible for stellar growth, we examined five drivers of growth from over 100 of our retail customers (over 500 million end customers and 150 billion dollars in annual transaction volume) and uncovered the metrics that matter. The findings? Acquisition is a reliable but inefficient way of driving top-line growth. The savviest retailers are focusing on increasing the engagement of their customers while they're active—a strategy that, point for point, drives 3x the growth of acquisition.