Crm at Retail Sector
A Project Report
On
“CRM practices in Retail Sector”
Submitted to:
Prof. Sushil Chaurasia
Tolani Institute of Management Studies
Submitted by:
Neha Das
Retail sector is one of India's fastest growing sectors with a 5% compounded annual growth rate. Retail is India’s largest industry. It accounts for over 10% of the India's GDP and around 8% of the employment. Driven by changing lifestyles, strong income growth and favorable demographic patterns, Indian retail is expected to grow 25% annually. India's huge middle class base and its untapped retail industry are key attractions for global retail giants planning to enter newer markets. It is expected that retail in India could be worth US$ 175-200 billion by 2016.
The organized retail industry in India had not evolved till the early 1990s. Until then, the industry was dominated by the un-organized sector. It was a sellers market, with a limited number of brands, and little choice available to customers. Lack of trained manpower, tax laws and government regulations all discouraged the growth of organized retailing in India during that period. Lack of consumer awareness and restrictions over entry of foreign players into the sector also contributed to the delay in the growth of organized retailing. Foundation for organized retail in India was laid by Kishore Biyani of Pantaloon Retails India Limited (PRIL). Following Pantaloon's successful venture a host of Indian business giants such as Reliance, Bharti, Birla and others are now entering into retail sector.
A number of factors are driving India's retail market. These include:
• Increase in the young working population,
• Hefty pay-packets,
• Nuclear families in urban areas,
• Increasing working-women population,
• Increase in disposable income and
• Customer aspiration and increase in expenditure for luxury items. India's retail boom is manifested in extensive shopping centers, multiplex-malls and huge complexes that
On
“CRM practices in Retail Sector”
Submitted to:
Prof. Sushil Chaurasia
Tolani Institute of Management Studies
Submitted by:
Neha Das
Retail sector is one of India's fastest growing sectors with a 5% compounded annual growth rate. Retail is India’s largest industry. It accounts for over 10% of the India's GDP and around 8% of the employment. Driven by changing lifestyles, strong income growth and favorable demographic patterns, Indian retail is expected to grow 25% annually. India's huge middle class base and its untapped retail industry are key attractions for global retail giants planning to enter newer markets. It is expected that retail in India could be worth US$ 175-200 billion by 2016.
The organized retail industry in India had not evolved till the early 1990s. Until then, the industry was dominated by the un-organized sector. It was a sellers market, with a limited number of brands, and little choice available to customers. Lack of trained manpower, tax laws and government regulations all discouraged the growth of organized retailing in India during that period. Lack of consumer awareness and restrictions over entry of foreign players into the sector also contributed to the delay in the growth of organized retailing. Foundation for organized retail in India was laid by Kishore Biyani of Pantaloon Retails India Limited (PRIL). Following Pantaloon's successful venture a host of Indian business giants such as Reliance, Bharti, Birla and others are now entering into retail sector.
A number of factors are driving India's retail market. These include:
• Increase in the young working population,
• Hefty pay-packets,
• Nuclear families in urban areas,
• Increasing working-women population,
• Increase in disposable income and
• Customer aspiration and increase in expenditure for luxury items. India's retail boom is manifested in extensive shopping centers, multiplex-malls and huge complexes that