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Abstract

India is witnessing a major shift across sector and retail is no exception to these changes. In this overpoweringly competitive market, customers are driving business to modify the modus-operandi that they have been following for last so many years. Seller’s market has now become Buyer’s market and every retailer is trying to lure these buyers for their sustainability and profitability. Every retailer be a mom-pop store, local kirana store or organized retail, has their own way of making and managing relation with their customers. With change in market dynamics, evolution of modern retail, new international entrants, more national and international exposure due to increased travel, customer’s buying pattern and buying behavior has also witnessed dramatic changes. Today’s customers look for best of the products, service and experience and are willing to pay for it. Any compromise or substandard products or services leads to switchover to other store or brand. This shift in customer behavior and expectation has mandated retailers to think beyond the normal practices of relationship management and adopt much evolved CRM practices.

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