And in the words of DJ Khaled...You smart, you loyal. I appreciate you.
Background: Adore Beauty is an online beauty retailer that launched back in 1999. In 2020, this crew listed publicly, taking its valuation to more than $650 million.
What happened: Today, the company's market cap is around $254 million 📉. But Adore just announced sales jumped 18% to over $113 million thanks to a jump in customer numbers.
What else: Adore's loyal, returning customers were the real MVPs, leading to 71% of their revenue.
💡Customer acquisition is important for growth, but customer loyalty works even better.
💡We know that loyal customers are 60 to 70% more likely to make repeat purchases than new customers. And loyal customers spend around 33% more per transaction. They also act as brand advocates.
💡Adore's loyalty program which launched last year has been key in bringing customers back time and time again...and it's paying dividends now.
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