Definition
Repeat customer rate is a metric that measures the percentage of customers who make more than one purchase from a business during a specific time period.
Related Services
Customer retention strategies, marketing analytics, and customer relationship management (CRM) systems help businesses increase repeat customer rates by targeting existing customers with relevant offers and communications.
Problem and Application
A low repeat customer rate may indicate poor customer satisfaction or loyalty, requiring businesses to improve their product offerings, customer service, or retention strategies.
Conclusion
Improving repeat customer rates is vital for long-term business success, as it lowers acquisition costs and drives sustainable revenue.
