Categories: Product Development
In marketing, Retention rate is used to count customers and track customer activity irrespective of the number of transactions (or dollar value of those transactions) made by each customer. (Source: WikiPedia)
Definition of "Retention rate" by Chat GPT: Retention rate refers to the percentage of customers or employees who continue to use a product or remain employed by a company over a specified period of time. It is calculated by dividing the number of retained individuals by the total number of individuals at the start of the period, then multiplying by 100. High retention rates are typically a sign of customer or employee loyalty and satisfaction.
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