The relationship between customer retention and Customer Lifetime Value (CLV) is that customer retention directly influences CLV. Customer retention refers to the ability to keep existing customers engaged and loyal to the brand over time. CLV represents the total value a customer brings to a business throughout their entire relationship. By retaining customers and extending their lifetime with the company, CLV increases as customers make repeat purchases, provide referrals, and potentially become advocates, resulting in greater overall value for the business.