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Business Dictionary

Navigate through the most commonly used words, terms and jargons in Ecommerce.
From retail and enterprise to branding and entrepreneurship, you’ll find everything you need to know about building a successful business.

Churn Rate

The rate at which your customers discontinue their relationship with your business or services, over a time period is known as the churn rate or attrition rate on your business.

Building loyalty in ecommerce is key! If someone bought a product from you once and stopped buying from you again – you need to determine why that is the case and try to find multiple ways to reignite their interest in your brand.

Use promo codes to run special offers for your products either on your webstore or on your social media and chat channels, to re-engage with such buyers and incentivize them to buy again.

Continually, update news and content on your webstore and social media handles to keep customers interested, engaged and loyal to your business.

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