Customer Relationship Management Practices in Retail Industry

Abstract

Currently, it is crucial to establish an immediate rapport with clients because they are the ultimate decision-makers and the success of the business depends on their happiness. Therefore, businesses use a variety of techniques to inform clients about their products, including e-commerce, contact centres, online shopping, and so forth. A practical strategy for incorporating venture applications regularly is now being given in Indian business. Business insight (BI) and customer relationship management (CRM) frameworks are becoming increasingly important as more shops transition to customer-driven, fragment-based businesses. The developers have had the extraordinary opportunity to observe and interact with employees and managers from three different management groups at three different Fingerhut firms as they investigated various options about various ITs for their organisations for as long as 10 years. In today's highly competitive market, the importance of customer relationship management has been growing significantly for creating and retaining customers by organised retail establishments. Client relationship management (CRM) mistakes are becoming more and more common, and this is continually causing concern among service providers—particularly among organised retail establishments, where each retailer has a unique approach to managing customer interactions. As a result, the current study's main focus is on Customer Relationship Management (CRM) in India's retail industries.

Keywords: Business Intelligence System, Customer Intelligence Relationship, Competitive Environment, Competitive Advantage and Customer Preservation.