It has always been a simple idea, find out what a customer likes, do it, and they will come back. However it appears that the shift in consumers buying patterns, after the recession, has been grossly ignored by a number of industries. High street retail in the UK has been one of the worst hit; with the likes of La Senza, HMV, Habitat, Jane Norman, Barrats, Peacocks and Clinton Cards all either selling up franchises or entering administration over the 2011-2012 period (BBC News, May 2012).
Finding and keeping customers is the name and game of business. Every business needs customers, and very simply the more customers, the more profitable and successful a business becomes. So why are some businesses growing with new customers while others as mentioned above have failed? Source Marketing Direct say it is most likely down to how much effort each business put into attaining the right information, and more importantly how effectively the business utilises that information from their customers.