According to IBGE (Brazilian Institute of Geography and Statistics), the IPCA (National Consumer Price Index) has accumulated an increase of 5.48% over 12 months. In the year, until April, the growth is 2.48%.With high inflation, the public's purchasing power decreases, digital game spending has increased (R$ 30 billion per month, according to the Central Bank), and price sensitivity has risen, forcing companies to rethink their customer retention strategies. And consumers are increasingly changing their behavior to adapt to the rising costs of various products and services.
In this scenario, retail faces significant pressure to maintain a loyal customer base, despite the growing physical and online competition and economic difficulties. Brands need to establish a new type of relationship with the shopper, as they seek more convenience, fair prices, and personalized experiences in the current context.
It is necessary to innovate to create long-term relationships with customers. Exploring the technological universe is the only way to ensure competitiveness in the face of contemporary challenges, especially in Brazil.
Data monetization
To reach an increasingly demanding consumer who has a range of options ahead, it is necessary to understand their preferences and interests. This is where consumer science, supported by technology and data intelligence, becomes a great ally for companies, as it has the potential to turn this information into profitable strategies.
CRM (acronym in English for "Customer Relationship Management") is strong evidence of that. This tool allows companies to collect, organize, and analyze data on consumer habits and purchase history, both of current and potential customers. This enables the creation of more personalized experiences for each shopper, ensuring that they receive offers and communications aligned with their needs.
Relationship programs are good examples of actions derived from the use of CRM. The retailer can implement them by considering a structure that targets consumers with lower purchasing power, who prioritize lower prices – as often happens during periods of high inflation. Whether through discounts, rewards, or other advantages, it is possible to keep this person satisfied, which tends to promote their loyalty.
Integrated physical and digitalThe transformation of brands' physical environments has also become relevant, especially regarding interaction with the digital. A meaningful experience for modern customers fully involves the integration of these two spheres.
In this sense, we can see many retailers understanding this dynamic when they invest in retail media strategies and commercial partnerships. With this, they can create advertising spaces on online platforms, allowing brands to invest in ads directly targeting qualified consumers.
Or we can also think of extended gondolas, which emerge as an intelligent solution for retail to expand the offering without needing to invest in more physical space or stock. In this model, the customer accesses a digital catalog within the store itself or through online channels, being able to purchase products that are not physically available at the location but will be delivered directly by distribution centers or the industry. In other words, sales are maximized by delivering the desired product to the consumer, and traditional operational costs are still cut.
Other advantages of loyalty strategiesMore than the increase in revenue itself, seeking actions to retain customers brings other advantages that can make a big difference during challenging economic periods. Cost reduction is one of the main strategies, since maintaining a base of loyal customers costs less than attracting new ones.
Another benefit is that loyal customers tend to spontaneously promote the store due to their positive experience. In other words, the image and public perception of the company are developed organically, showing that it is a healthy consumption environment even during challenging times.
One advantage leads to another. Keeping up with market and consumer changes through innovation is not just a matter of survival, but of maintaining the business's relevance by looking at its own potential.
