Is there anything more valuable than a returning customer? I think about the bodega I frequent in my neighborhood in Brooklyn: how each transaction begins and ends with some pleasant conversation with the guy behind the counter, a scratch on the resident cat’s head, and the confidence that yes, I’ll be back, and that my local bodega will keep on thriving.
But haven’t you ever wondered how you compare to other businesses? SumAll recently researched and quantified the numbers of just how many customers were returning customers for a wide variety of online shops. Now I’m not just saying this because I’m employed by SumAll, but some of that data is truly impressive—and it verifies other research done on returning customers, like how 48% of all U.S. e-commerce transactions in 2015 were made by returning customers, profiting online businesses $2.7 billion. That’s almost an equal split between returning customers and new customers, and since the data reflects new customers as well, it pitches the opportunity to make those new customers returning customers as well. Now let’s dive into SumAll’s research!