What Does It Mean?
Customer retention refers to the ability of a restaurant to retain its existing customers over time. This may be achieved through various strategies, such as offering loyalty programs, providing personalized experiences, and delivering high-quality products and services.
Why Is It Important For Restaurants?
Customer retention is important for restaurants because it can significantly impact their profitability and overall business performance. By retaining existing customers, restaurants can generate repeat business and reduce their customer acquisition costs. Additionally, customer retention can help restaurants to build customer loyalty and generate positive word-of-mouth recommendations, which can attract new customers to their business. Finally, effective customer retention strategies can help restaurants to improve their overall customer experience and increase their revenue streams over time.