Neiman Marcus names a new chief marketing officer and restructures staff to address the growing importance of e-commerce.
Customer acquisition costs fell from $20 in the third quarter of 2000 to $12 in the third quarter of 2001, says The State of Online Retailing report from Shop.org and the Boston Consulting Group.
The cost of acquiring customers dropped in the past year, says the latest edition of Shop.org/Boston Consulting Group’s The State of Online Retailing report.
Customer acquisition costs fell 40% from $20 in the third quarter of 2000 to $12 in the third quarter of 2001, the report says. "Since the dot-com correction and through the current recession, retailers have learned to be better marketers online, which is helping to put them in stronger financial shape than last holiday season," said Elaine Rubin, chair of Shop.org.
Keeping customers fell, too; retention cost per customer was $9 in Q3 2000 and $5 in Q3 2001.