A STUDY ON MEASURING CUSTOMER SATISFACTION AT RELIANCE FRESH OUTLET IN DELHI

Abstract

India’s service sector has matured considerably during the last few years and has been globally recognized for its high growth and development. The Indian retail market, which is the fifth largest retail destination globally, has been ranked as the most attractive emerging market for investment in the retail sector by AT Kearney's eighth annual Global Retail Development Index (GRDI), in 2009. As per a study conducted by the Indian Council for Research on International Economic Relations (ICRIER), the retail sector is expected to contribute to 22 per cent of India's GDP by 2010. In today’s complex business environment, it has become very crucial for companies to attain high customer satisfaction for long term sustainable growth and like companies of the other business domains. Retail also considers their customers as the most important asset, is not just a theory but also an economic fact. Therefore in the current scenario, the research on customer satisfaction on business domain of retail sector is quite important and critical for understanding of customer satisfaction and retention, it is very crucial for any company to learn what actually differentiates the satisfied customers from the unsatisfied ones. In a sharp contrast to the retail sector in developed economies, retailing in India - though large in terms of size - is highly fragmented and unorganized. With close to 12 million retail outlets the country has one of the highest retail densities worldwide. Retailing like rest of the world retailing is one of the largest industries in India with sales amounting to about $350 billion, but organized retail is estimated at only US$ 8 billion. It is country’s largest source of employment after agriculture, has deepest penetration into rural India and accounts to about 10-11 % of’ India’s GDP and around 8%of the employment. Inefficiency in the existing supply chains presents further opportunity for organized players to draw on this large market even as lack of consumer culture and low purchasing power restricted the development of modern formats. Migration from unorganized to organized retail has been visible with economic development in most countries.