Churn also goes down in retail. If you look at retail cohort analysis, you will say that 10% of users are active three months after their first transaction, and then 5% are still active six months later. So you lose 90% in the first three months, and then only 50% in the next three months.

This is particularly important in the RLV calculations, as assuming a constant churn rate will undervalue your existing customer base.

Sounds like you are taking the right factors into account. What sort of accuracy are you getting with your calculations?