Furever 31 is based in Vancouver where it has its retail store. The store is specialized in
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Question:
- Furever 31 is based in Vancouver where it has its retail store. The store is specialized in clothing, fashion and accessories geared towards those who are older than their 20s but not senior citizens (65 years old).
- The average check (purchase by a customer at the till) is $50. The majority of purchasers tend to be women, although Furever 31 also carries men's fashions and accessories. Each customer tends to visit 1.5 times per week.
- The average profit margin at Furever 31 is 20%.
- Customers tend to stay at Furever 31 for 10 years.
- Questions:
- 1) What is the average customer spending every week?
- 2) What is the Customer Lifetime Value (CLTV) per year (52 weeks)?
- 3) How much can Furever 31 spend up to in order to acquire a customer over their lifetime at Furever 31?
- 4) How would you use the CLTV for digital marketing? Cite examples.
- show calculations to explain answers.
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date: