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Measuring and Improving Customer Retention in eCommerceDemac Media 71 King Street East, Suite 200 Toronto, ON M5C 1G3www.demacmedia.customer Retention Have you ever thought about it? To any e-commerce
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Customer retention metrics are key performance indicators used to measure the rate at which a company is able to retain its customers over a period of time.
Companies in various industries, such as retail, e-commerce, and subscription-based services, may be required to report customer retention metrics as part of their financial reporting requirements.
Customer retention metrics can be calculated by dividing the number of customers at the end of a period by the number of customers at the start of that period, and then multiplying by 100 to get a percentage.
The purpose of customer retention metrics is to help companies identify trends in customer behavior, measure customer loyalty, and evaluate the effectiveness of retention strategies.
Companies may need to report metrics such as customer retention rate, customer churn rate, and customer lifetime value.
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