The Concept Of Loyalty In Retail As A Corporate Strategy

This research is based upon the perceptions of loyalty and customer relationship management. In a country like India with over a billion population, loads of customers indulge in shopping and equivalent is the number of retailers trying to snatch away each other s competition. What aggravates the situation is that the customers; who don t feel satisfied; don t complain and simply move on and change the brand or company. Hence, retailers find a need to keep a track of their customers & put their best effort on satisfying them and exceeding their expectations through the use of loyalty schemes and programs. The customer loyalty is driven by customer behaviour, which in turn is driven by customer satisfaction. Retailers want to have an insight of customer needs; exploit and utilize customer satisfaction to the optimum in order to boost their sales, and hence, growth.Thus, it became necessary to study and investigate the effects of customer loyalty following which the retail sector, the Shoppers Stop Company, is taken as a case study here.This research will give insights on the myths and realities of loyalty schemes and its influences to deliver a successful business plan.

Autorentext

Ankit Khandelwal hails from Ahmednagar - a small town in India. He has completed his graduation in Mechanical Engineering from Pune University (India) in 2007 and post graduation in MBA from Liverpool Business School (UK)in 2010. He is currently working in 'Project Planning and Product Development' at Tata Motors Ltd. in Pune,India.