Customer retention is the process of keeping customers engaged and interested in a business, product, or service. It is an important part of a company’s long-term business strategy, as it ensures that existing customers continue to purchase the product, thus creating a steady revenue stream for the company. It includes activities such as providing loyalty rewards, offering incentives and discounts, and providing good customer service. By maintaining communication with the customer and ensuring their satisfaction, companies hope to create a long-term relationship with them.