CRM in Retailing Sector Conduit To Delight To Customers

Abstract

In India, retailing is one of the fastest growing industries. It is estimated to be the largest single sector (after agriculture) both in terms of turnover as well as employment. After leading the IT bandwagon, India is poised to grow as a retail hub. The retail environment is changing rapidly in terms of quality of retailing, varieties of retail formats, change in consumer preferences and shopping habits and is also facing competition from domestic and foreign players. The characteristics and the number of activities in retailing as well as approaches to manage customer relationship in retail sector have changed across the globe, including India. CRM has emerged as the latest buzzword in retailing, especially in organized retail sector, and an important tool to enhance retailer performance. But, before understanding CRM in this sector, one must know the dynamic retailing scenario in India. The paper explores the present scenario of retailing and suggests Customer Relationship Management (CRM) as a Competitive Strategy in the era of economic slowdown. Key words: Retailing, Customer Relationship Management, market, customer, shopping, strategy

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