Big spenders are expected to help global eCommerce sales surpass $6.5 trillion in 2023.
Big spenders, customers who spend more than $500 annually in online retail purchases, make up 39% of all retail eCommerce customers. This piece recommends brands should encourage these consumers to sign up for newsletters and then send tailored offers.
Tailored offers can encourage not only big spenders to spend more, but also turn small spenders into big spenders. A CFI Global and Radial survey found that big spenders are 7% more likely to be loyal to the retailer than small spenders.
The author suggests that brands should understand the big spender mindset and offer services accordingly. Most consumers expect to be able to place an order and check their status without any customer service interaction.
[3 minute read]