CRM PRACTICES IN RETAIL SECTOR: BUSINESS ASPECTS AND CUSTOMER PREFERENCES & BELIEFS

doi:10.17605/OSF.IO/P79Y2

DOI:

Keywords:

CRM, Future Of CRM, Business Analysis

Abstract

Retailing is the largest private industry in the world, with total sales of $ 6.6 trillion World over the retail sector is not only the oldest but also one of the most advanced users of the technology. Retailing is also India's largest industry accounting for over 10% of the country's GDP and around 8% of the employment(CII-Mckinsey report). Retailing in India is gradually inching its ways towards becoming next booming industry. The Indian retailing industry is highly fragmented with 97% of its business being run by the unorganized retailers such as the traditional family run stores and corner stores.

Organized retailing, however, is at a very nascent stage though its share is expected to rise to 9-10% by the year 2010.The figure is much higher for the U.S. & U.K. and relatively higher too for neighboring Asian countries like China, South Korea, Indonesia, Philippines, Thailand and Malaysia. (Vedamani G. Glbson "Comprehensive policy vital", The Hindu survey of Indian Industry 2007).

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