Customer Attrition is the gradual decrease in the number of a company’s existing customers over time. Put simply, it’s when customers stop doing business with your company because they move on, find an alternative solution, or simply no longer need what you offer. To understand customer attrition better, it helps to look at the entire customer lifecycle. Attrition takes place during the disengagement stage. It’s important for businesses to identify why their customers are leaving so they can take action to prevent it from happening too often. Fortunately, there are many tools and strategies that companies can use to retain customers and reduce attrition rates.