In the retail industry, it seems as though we are constantly faced with the issue of trying to find new customers. Most of us are obsessed with making sure our advertising, displays, and pricing all “scream out” to attract new business. This focus on pursuing new customers to increase sales is certainly prudent and necessary, but, at the same time, it can wind up hurting us. Therefore, our focus really should be on the loyal customers - the 20 percent of our clients who currently are our best customers.
In retail, this idea of focusing on the best current customers should be seen as an on-going opportunity.