Online Retail: Sales and profitability growth of New vs. Existing Customers
When a business gets a little older, it has an existing customer base while new customers keep adding. In such a case, it is hard to determine which customers are contributing to the profits of the store. It is also a hectic thing to sort out which sales came from which of the customers. Without analytical help, it gets troublesome as the statistics of sales become uninterpretable.
Enalito helps retail stores to figure out the sales and profitability of both New and Existing Customers. It creates effective customer segments to differentiate the contribution made by different customers. Enalito induces customer segmentation based on Recency in Days to recognize new and existing customers.
For example, Enalito creates two customer segments to resolve this purpose. One customer segment is ‘Existing Customers’ while the other is ‘New Customers’. The ‘Existing Customers’ segment includes those customers who signed up before 30 days. While ‘New Customers’ segment shows customers who have purchased recently and bought only once. New customers are those who have recently made their only purchase and have a relationship with the store for less than a month.
Enalito creates different customer segments to interpret sales and profits achieved from customers. Analysis of new and existing customer segments reveal the number of purchases made by each segment. Along with the number of purchases, it also tells the amount contributed by them. This way, Enalito helps to find the sales and profitability growth from new and existing customers. A retailer can also know the number of purchases and amount contributed by each customer of these segments.
Besides these, Enalito also gives every necessary detail of the new & existing customers. It provides individual as well as segmentwise details. Whether it be recency in days, purchase frequency, AOV or discount % of the purchase.
Enalito gives every insight that a retailer needs to understand the customers to uplift the business. Through the adamant customer segmentation done by Enalito, the knowledge of sales and profitability of new and existing customers is just one thing, whereas this product suite unravels the retail problems like no other tool has ever done.