Louis Van de Water

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Top Stories by Louis Van de Water

Years ago, retailers grew by opening new stores, thus gaining new customers and sales revenue from each new locale. As many retailers added stores, an over-stored condition resulted. Retailing success then depended more on increasing revenues by maintaining customer loyalty and attracting customers from less successful retailers. This customer loyalty was achieved by providing acceptable products and competitive prices, and giving the customer a positive, even exciting, experience in the store. Thus, success came to the retailer that made customers feel special while providing convenience at an acceptable price. The scrap heap is full of out-of-business retailers that didn't understand what drives individual customer loyalty and what motivates them to shop with one retailer versus another. It's not uncommon for a retailer to have as many former customers as current... (more)