Toronto, Canada, November 21, 2014 – 3C Contact Services Inc., North America’s premier cost-effective provider of contact center solutions for small- and medium-sized businesses, is weighing in on both Black Friday and Cyber Monday forecasts and the importance of client retention on a brand’s bottom line.
“With the U.S. economy showing signs of sustained economic growth, most retailers are expecting to announce increased sales this holiday season. Overall, retail sales are predicted to increase between four percent and 4.5%,” says Damian Reyes, customer service manager for 3C Contact Services. “If the expected increases come to fruition, this would represent the largest increase in three years and would also mark the first time since 2011 that holiday sales climbed more than four percent.” (Source: “With Black Friday just around the corner, most forecasts call for an increase in holiday sales this year,” OregonLive.com, November 6, 2014; www.oregonlive.com/window-shop/index.ssf/2014/11/forecasts_call_for_another_ste.html.)
While overall retail sales are forecast to be robust, online sales, especially for Black Friday (November 28) and Cyber Monday (December 1) will be record-breaking. Internet sales on Black Friday are projected to climb 28% year-over-year to $2.48 billion. On Cyber Monday, sales are predicted to increase 15% to $2.60 billion. (Source: “2014 Holiday Shopping Prediction,” CMO.com; www.cmo.com/content/dam/CMO_Other/ADI/ADI_2014_Holiday_Prediction/2014_Holiday_Shopping_Prediction.pdf, last accessed November 20, 2014.)
Reyes explains that November and December sales can account for as much as 30% of a business’ annual revenue, and that a customer’s interaction with a brand lasts long after they make their initial purchase. The way in which businesses conduct customer service impacts both client retention and the bottom line, because the cost of keeping an existing customer is 10% the cost of acquiring a new one.
“After the holidays are over, customer service departments field all sorts of calls, many of which have to do with returns or issues with a purchase. In this environment, brands need to stay ahead of the competition; that’s where client retention comes in,” Reyes concludes. “A knowledgeable, informed customer service team enhances brand awareness and encourages repeat business. That’s why brands that use 3C Contact Services have seen their retention rates climb by 33% and save rate improve by 43%.”
3C Contact Services Inc. provides its clients with top-quality, best-of-class outsourced contact center services and customizable solutions. To learn more about 3C Contact Services Inc., visit the company’s web site at www.3CContactServices.com or contact 3C Contact Services Inc. at 1-888-353-2335 or via e-mail at firstname.lastname@example.org.