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This question is about customer retention statistics.
What is the average customer retention rate?
The average customer retention rate is about 75.5%. This is the average of all global industries' retention rates, the greatest of which (84%) belongs to both the media and the professional services industries.
The insurance and automotive/transportation industries come next with 83% customer retention rates, followed by the IT services industry with a rate of 81%, and construction and engineering with an 80% retention rate.
Financial services and telecommunications both retain about 78% of their customers, while the healthcare and IT/software sectors both have retention rates of 77%. Banking comes close behind with a 75% retention rate, followed by consumer services and manufacturing with rates of 67% each.
The retail industry has a 63% customer retention rate, while the hospitality, travel, and restaurant industry rounds out the list with the lowest retention rate of 55%.
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