Role of customer relationship management (CRM) in retail industry -an overview

Retail is India's largest industry as for over ten per cent of the country's GDP and around eight percent of the employment. Technological improvement is responsible for majority of innovation in retail sector over past few years. Customer Relationship Management systems are adopted by the retail sector in order to get success by improving customer satisfaction and enhancing loyalty. CRM motivates a customer to return again and again as they receive good services. This paper throws light on the need of CRM in retail sector. With the help of CRM system and strategies, retail sector can retain their customers even for the life time. India is progressing towards a tough competitive environment where only those retailers would survive who can understand their customers and develop a strong bond with them by developing and implementing appropriate CRM strategies and programs effectively.