A customer retention framework within the CRM concept for companies involved in the fashion industry

Abstract

Most of the businesses have grown tired of spending large amounts of money to acquire customers which after few weeks if not days, they are lost. Throughout the years, businesses realised that focusing on existing customers is more beneficial than focusing on acquiring new ones. Consequently, customer retention has become the newest challenge and goal for many businesses today, including retailers in the fashion industry. The aim of this study was to design an effective customer retention framework to be utilized by businesses in the fashion industry. Moreover, the purpose of the research undertaken was to identify the main causes that lead clients to desert from a particular company's services, identify which are the most effective customer retention tactics in this competitive environment and determine whether customer service, loyalty programmes, reward programmes, community building and customization are good factors to form an excellent customer retention programme.This study is backed by several former literatures on customer retention and customer relationship management. A quantitative research instrument has been used to collect data from fashion customers with the attempt to understand some issues with regards to customer retention from the customers' perspective. The analysis and findings are interpreted and presented later on, in this study. Based on the data collected, a customer retention framework has been created and is recommended to be utilized by retailers in the fashion industry. Such framework will help businesses in maintaining existing profitable customers.