Little more than 10 per cent of Matalan's database of customers shop in the retailer's stores once a month or more.
Despite having a database of more than 9 million active customers, the retailer confirmed to analysts that only about 1 million are frequent key or star shoppers.
Chief executive John King admitted previously in April that the value retailer had struggled to attract frequent shoppers.
A CSFB note reported that management broadly confirmed numbers and provided background data.
'It is surprising that Matalan has arguably worse customer retention statistics than a mail order big book, that it needs to replace 40 per cent of its existing customers every year,' according to the analysts.
No comments yet