“Assessing the Effectiveness of Information Technology Applications For Customer Retention In Retail Sector – a Sample Survey” |
The study at handexplores the role of IT on customer retention practices adopted by theretailers in the city ofAurangabad (MS), India. The study is based on both secondary and primary data. For theprimary data, an empirical study was conducted amongst the customers andemployees of the five chosen retailers. The content analysisof the qualitative data was done through a combination of all threemethodologies, conventional, summative and directed. Forquantitative analysis, the researcher has considered SPSS analysis, descriptiveanalysis and the inferential analysis. The key findings of the study were that IT has played a vital role inbridging the communication gap between the customers and the brands andcompanies and also promote a two-way communication which helps the companies to understand the customers, their characteristics, consumer behaviorand buying patterns more comprehensively and thus can derive more effectualcustomer retention strategies. The study has also pavedway for further study in regards to other industries, geographical locations orone particular company. Also, the efficiency of different IT tools and CRM canbe analyzed in context of the above mentioned frameworks. The findings of thestudy holds a lot of relevance even for other sectors as it is about customerretention and each company is struggling to device strategies to attract andretain customers for long-term sustainability and profitability.