How to retain customers in this highly competitive age
Whenever I walk into a mall or a bazar shop on any week day, I hardly notice customers there. When I enquire comes the quick reply online players taking away their business, they offer such a huge discounts that the customer can hardly contain desire to buy, online spot deals are sometime available at a whooping discount of 85%. Even within the online space the competition is very sharp. So my point is how to distinguish yourself from your competitors and stay firm in the market place. There is no fixed formula but to win a customer the brand or store has to go beyond lure of discount. Amazon has devised annual loyalty programme which allows members to enjoy product subscriptions, video streaming of popular films and shows, same day shipping of thousands of items and much more. This annual loyalty after paying $99 , became instant hit it has tens of million members world wide. This unique concept has helped Amazon to swell its profits. In India also many companies trying to ...