Think Tank: Myths and Realities of Your Most Valuable Customers
4 monthes ago - By WWD
“Describe your most valuable customer .”
Even the most savvy fashion executives will begin by touting metrics surrounding recency of purchase or loyalty status. Closely followed by frequency of purchase, with that coveted shopper set who has bought more than eight or 10 times firmly holding the executive's trophy for MVC.
“Yes, but who is your most profitable customer?” The discussion will most likely shift toward lifetime value versus cost of acquisition. There may be a discussion of multiple channel purchases or return patterns, but suddenly the “greatest of all time” is much more...
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