Crm in Indian Retail Sector
CRM in Indian retail sector K. Sarada madhavi ABSTRACT
Retail is India 's largest industry, accounting for over 10 per cent of the country 's GDP and around eight per cent of the employment. It is one of the most dynamic and fast paced industries with several players entering the market. The growing middle class, who has a substantial disposal income in hand, constitutes the largest shoppers ' segment in India. Its consumer behaviour is changing continuously and reaching new levels of tastes and preferences. IT is emerging as major tool of customer relationship in the retail markets in India. They are doing this by aggressively adopting IT applications to streamline from accounting and human resource management to core functions like buying, merchandising, supply chain management, store management, marketing and especially customer relationship management.
This present paper highlights the strategies followed by the retail industry in India for retaining their large customer database. It also made an attempt to bring out the applications of information technology in retailing
Introduction:
Retailing in India is gradually becoming one of the key industries for economic development .The changed consumer behaviour and in creased standard of living in the growing middle classbrough t arevolution in Indian retail scenario. Modern retail has entered India as seen in sprawling shopping centres, multi-storeyed malls and huge complexes offer shopping, entertainment and food all under one roof. The other reason is a significant change in th demographics. A large young working population with median age of 24 years, nuclear families in urban areas, along with increasing working-women population and emerging opportunities in the services sector are the key growth drivers of the retail sector in India..
Now there is a tough competition between the organized retail chains and unorganized
Retail is India 's largest industry, accounting for over 10 per cent of the country 's GDP and around eight per cent of the employment. It is one of the most dynamic and fast paced industries with several players entering the market. The growing middle class, who has a substantial disposal income in hand, constitutes the largest shoppers ' segment in India. Its consumer behaviour is changing continuously and reaching new levels of tastes and preferences. IT is emerging as major tool of customer relationship in the retail markets in India. They are doing this by aggressively adopting IT applications to streamline from accounting and human resource management to core functions like buying, merchandising, supply chain management, store management, marketing and especially customer relationship management.
This present paper highlights the strategies followed by the retail industry in India for retaining their large customer database. It also made an attempt to bring out the applications of information technology in retailing
Introduction:
Retailing in India is gradually becoming one of the key industries for economic development .The changed consumer behaviour and in creased standard of living in the growing middle classbrough t arevolution in Indian retail scenario. Modern retail has entered India as seen in sprawling shopping centres, multi-storeyed malls and huge complexes offer shopping, entertainment and food all under one roof. The other reason is a significant change in th demographics. A large young working population with median age of 24 years, nuclear families in urban areas, along with increasing working-women population and emerging opportunities in the services sector are the key growth drivers of the retail sector in India..
Now there is a tough competition between the organized retail chains and unorganized
References: • CRM – An Indian perspective by chaturvedi & chaturvedi • Retail reality." November 7, 2007. • "ICRIER Begins Survey of Indian Retail Sector." March 19, 2007. • "Retailing in India Unshackling the chain stores". The Economist. 2008. http://www.economist.com/displayStory.cfm?story_id=11465586. • "India again tops global retail index." June 22, 2007. • "Interview - Technopak Advisors Pvt. Ltd.." December 11, 2006. • "Economic and financial indicators" July 3, 2008. • "Indian Retail story from Myths to Mall." August 11, 2007. • "Centre consulting states for setting up retail regulator." July 2, 2008.