1. – Ittihad University, United Arab Emirates
| Received
19-May-2013 |
Accepted
- |
Published
19-May-2013 |
Abstract
The focus of retail marketing is on customer retention and satisfaction instead of solely selling. The ever changing digital
revolution, driven by the spread of internet, mobile technology, and recently the social networking phenomena resulted in a new ‘Information
Age’ of consumers. Due to the ease of access to various information sources, which allows shoppers to compare a variety of available
goods and services, this consumer segment is becoming very much price-and-quality sensitive, demanding “more for less” from the shopping
experience. The effective use of relationship management strategies will allow retailers to consistently identify and communicate meaningful
value chain elements to its market segment, which will ensure differentiation and build on loyalty. The renowned 20-80 rule, states that eighty
percent of a company’s earnings is produced by twenty percent of its core customers. Based on these findings, many of the most successful
retailers have shifted their focus towards CRM strategies which largely embrace the use of loyalty schemes. The purpose of this paper is to
identify the various aspects of customer relationship in retailing and to explore the loyalty programs and its future in United Arab Emirates.
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