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How to Retain Your Retail Customers

Jun 15, 2022

It goes without saying that customers are the lifeblood of any retail business — so it’s important to do everything you can to keep them coming back! By understanding your customers’ needs, giving them what they want and providing outstanding customer service, you can create a loyal customer base that will keep your business thriving for years to come. Use these 10 tips to retain your customers and keep them coming back for more.

10 Tips to Retain Retail Customers

1. Understand what your customers want

The first step to retaining customers is understanding what they want. What are their needs and expectations? What do they value most? Take the time to get to know your customers and what they’re looking for. This will help you better serve them and keep them coming back. If you're wondering how to do this, the easiest way is to simply ask customers about their experience and what they're looking for. You can also look at customer surveys and reviews to get insights.

2. Give your customers what they want

Once you know what your customers want, give it to them! If they value selection, offer a wide variety of products. If they value low prices, make sure you’re offering the best deals. If they value great customer service, provide outstanding service at every opportunity. By giving customers what they want, you’ll keep them coming back.

3. Train your employees to provide excellent customer service

If you want to provide great customer service, you’ll need to train your employees to do so. Teach them how to greet customers, how to handle customer inquiries and complaints, and how to go above and beyond to exceed your customers’ expectations. By paying close attention to your customers, you'll be sure to get in front of any issues they may be experiencing.

4. Reward your customers for their loyalty

One way to keep customers coming back is to reward them for their loyalty. There are a number of ways to do this, such as offering discounts, coupons or exclusive deals. You can also offer loyalty programs that give your customers points or rewards for shopping with you.

5. Use technology to improve the customer experience

Technology can be a powerful tool for retaining customers. Use it to make your customers’ experience more convenient, perhaps by offering online ordering or in-store pickup. You can also use technology to keep customers informed about new products, sales and promotions.

6. Keep your store clean and organized

First impressions matter, so make sure your store is clean and organized. This will give your customers a positive impression of your business and make them want to come back. A neat and tidy store also makes it easier for customers to find what they’re looking for, which can improve the overall shopping experience.

7. Stay up to date with industry trends

To keep customers coming back, you’ll need to stay abreast of industry trends. This means offering the latest products, services and technologies. It also means keeping your store and products updated. By staying ahead of the curve, you’ll show customers that your business is worth their time and money.

8. Always be prepared for the unexpected

Things will go wrong from time to time, so it’s important to be prepared for the unexpected. This means having a plan in place for how you’ll handle customer complaints and problems. It also means being proactive about identifying potential issues and addressing them before they become a problem. By being prepared, you can keep customers happy — even when things don’t go as planned.

9. Go above and beyond for your customers

Customers remember when businesses go out of their way to meet their needs. Whether it’s putting in extra effort to help them find a product, or offering them a discount on their next purchase, little gestures can make a big difference. By going above and beyond, you’ll build strong relationships with customers that will keep them coming back.

10. Say “thank you”

Sometimes the simplest things can make the biggest difference. Saying “thank you” to your customers shows that you appreciate their business. It’s a small gesture that can go a long way toward building customer loyalty.

How Can Acima Leasing Help?

Acima Leasing can help you grow your business by providing lease-to-own solutions* that unlock shopping power and choices for your customers. Offering the no-credit option* from Acima Leasing can help you drive more revenue, increase incremental sales, attract new customers, and save on the expense of rewards and retention programs. With Acima Leasing, you'll be able to provide your customers with the solutions* they need to make a purchase without having to use credit.* Learn more about how we can help you grow your business.

Common Questions About Customer Retention

Why is retaining customers important?

There are a number of reasons why it’s important to retain customers. Most importantly, it’s cheaper to keep a customer than it is to acquire a new one. Repeat business can also help you generate word-of-mouth marketing. Satisfied customers are more likely to give you positive reviews, which can attract new customers.

How can I improve customer retention?

There are a number of ways to improve customer retention. Some common strategies include providing excellent customer service, offering loyalty rewards, using technology to improve the customer experience and staying up to date with industry trends.

What is the opposite of customer retention?

The opposite of retention is attrition. Attrition occurs when customers stop doing business with you. This can happen for a number of reasons, such as poor customer service or a bad product experience. Learn more about how to decrease cart abandonment.

How do I build customer loyalty?

Building customer loyalty requires creating a strong relationship with your customers. This can be done by providing excellent customer service, offering loyalty rewards and always being prepared for the unexpected.