Antecedents And Outcomes of Customer Experience In Organised Retail Sector

Abstract

In commerce, retailing is referred to as a distribution function where a retailer (an individual, an agency, or a company) buys the product in very large quantities from supply firms, manufacturers, wholesalers, importers, and then sells these goods and commodities in small quantity directly to the customers. A retailer performs a range of functions like understanding market requirements, assortment of goods, holding adequate inventory, extending service, obtaining market information, recording and providing customer feedback. In India, the retail sector is mainly divided into two namely, unorganised and organised. The liberalization policies and Foreign Direct Investment (FDI) have made first-generation retail entrepreneurs and many corporate multinational companies enter the Indian retail sector. Within a very short period, India has become the most emerging retail market in the globe. Healthy and steady economic growth, increasing disposable incomes, and customer preferences are some of the main factors that are driving growth in the Indian organised retail sector. newlineThe study was conducted in Kerala state, which is located in the southernmost part of India. Kerala is one of India s most progressive States in terms of high literacy rate, social welfare, and quality of life. The organised grocery retail sector has a wide scope to expand further since the State is known more as a consumer State rather than a producer State. Government-owned Maveli stores, Thriveni stores, Margin-free shops, Co-operative societies owned retail stores, and local retail chains, etc. have turned out to be the forerunners in Kerala s organised grocery retail market. Most of the national players in the organised grocery retail sector have got footprints in the major cities of Kerala. Many big conglomerates in the organised retail sector such as Reliance Retail Ventures, Future Group, R. P. Goenka (RPG), LULU Group, and Aditya Birla Retail Limited have entered into the State foreseeing its bright future in the grocery business.