The retailing industry today has knowledgeable and demanding customers. Since business exists to satisfy the needs, demands and expectations of the customers, retailers are obligated to change the formats of their retail outlets and product offerings according to customer requirements. In this age of insightful competition, a retail organization, big or small, is concerned with the image that it creates and retains in the minds of customers. This image is largely determined by the service provided through Customer Relationship Management (CRM).

Retailing is the largest priate industry in the world, with total sales of $6.6 tn. World over, the retail sector is not only the oldest but also one of the most advanced users of technology. The world of retail is a fast changing one. A retailer not only needs to keep up with the ever-changing expectations and demands of the customers, but he also needs to keep track of competition, the changes in technology, and the socioeconomic climate of the nations where he operates.

Retailing is also India's largest industry accounting for over 10% of the country's GDP and around 8% of the employment. It has emerged as one of the most dynamic and fast-paced industries with several players entering the market. But because of the heavy initial investments required, break-even is difficult to achieve, and many of these players are yet to taste success. However, the future is promising; the market is growing, government policies are becoming more favorable and emerging technologies are facilitating more efficient operations.

According to Ernst & Young's Retail News - Spring 2006, retailing in India is gradually inching its way towards becoming the next booming industry. The whole concept of shopping has altered in terms of format and consumer buying behavior, ushering in a shopping revolution. Modern retailing has entered India and can be seen in the sprawling shopping centres, multi-storeyed malls and huge hyper markets. The new retailing formats offer shopping, entertainment and food—all under one roof. The Indian retailing sector is at an inflexion point, where the growth of organized retailing and the growth in consumption by the Indian population are going to take a new growth trajectory.

Marketing Mastermind Magazine , Indian Retail Market, Customer Relationship Management, CRM, Retail Organization, Gross Domestic Products, GDP, Marketing Strategy, Indian Council for Research on International Economic Relations , ICRIER, Foreign Direct Investment, FDI.