At an exclusive strategy and networking event for online retailers, JupiterResearch’s Patti Freeman Evans unveiled a recent study focused on consumer online shopping trends, before joining a panel of web retail experts who advised attendees on how best to respond to the weakening economy.
An infinite amount of hypothesizing and contemplating can be applied to the question: “What to do given the market is going to crap?” The number of hypotheses as to what exactly will happen and how this will affect our businesses is equally untenable.
Customers typically go through a series of lifecycle phases including prospect, acquisition, cross-sell, fading, churn (a.k.a. attrition), and reactivation (a.k.a. win-back). In subscription-based products like cable TV and magazines, churn is well-defined: if the don’t renew then they churned.
Innovation in ecommerce is experiencing a renaissance of sorts. Whereas the last sweep of tools and technologies available to etailers came nearly a decade ago and more or less simply facilitated getting products online, today’s entrepreneurs are delivering everything from ratings and review widgets to deep analytics to personalization.
Richrelevance, a provider of personalized recommendations for e-commerce businesses, announced on Tuesday that it has raised a $4.2 million second round of venture capital financing, from Greylock Partners and Tugboat Ventures.