Competition has intensified in the modern age, as consumers are increasingly expecting retail firms to meet and surpass their standards. Owing to the fact that the goods sold by retail firms are homogeneous, they are increasingly focusing on providing efficient customer services to gain a competitive edge. Maintaining consumer loyalty and confidence is vital for such organisations to ensure repeat customer purchases. Since these companies operate in a highly competitive environment, consumers have several options to turn to other retailers, retailers are engaged in the analysis of factors that contribute to consumer loyalty and retention in such circumstances. View Society of Workforce Planning Professionals.
Retail is a form of trade in which a business organisation sells items directly to end consumers. These companies have direct client relationships, so they are actively engaged in supplying the client with products combined with services. Customer loyalty and confidence in retail business rely largely on the nature of the services rendered when they sell homogeneous goods, on the basis of which it is difficult to distinguish one store from another. Supermarkets, grocery shops, book stores , convenience stores, and drug stores are examples of retail sector.
Books-A-Million is also a bookstore company known as BAM! (Toys, books and more). Since the company operates nearly 200 stores throughout the country, it is the second largest bookstore chain in the United States. In addition to the items they sell, such as books , toys, stationary, etc., they are distinctive in their services. For customer service, the bookstore has created an online help desk. By visiting the Books-A-Million customer service website, clients can verify the status of their order or gift card balance. They are prompt to respond to complaints and requests from their clients.
Books-A-Million aims to achieve a strategic edge over other bookstores in order to offer exclusive and superior offerings synonymous with the store’s prime items. The key strategy embraced by the book store is to achieve dominance in supplying customers with reliable and timely services in order to generate consumer repurchasing intentions. The repurchase behaviour of the customers indicates their level of satisfaction with the company’s services, satisfaction or confidence eventually contributes to consumer loyalty and customer satisfaction.
Wal-Mart runs a chain of department stores and warehouse stores and is a multinational retail company. It is one of the biggest department store chains in the United States, operating 4177 stores. Wal-Mart ‘s CEO claimed that the secret to generating income for Wal-Mart Business is loyal and repeat customers. In addition, he claimed that customers are more loyal to our store because, compared to other stores, our employees treat them competently. Wal-Mart has always concentrated on educating and cultivating friendly partners who appreciate the fact that the consumer is the king and behave according to the needs of the customers. Wal-Mart has been more effective in pursuing customer-centered strategies than competing businesses that are simply based on increasing income.
Wal-Mart ‘s service approach entails employee gratitude at its heart, which eventually contributes to customer loyalty. It has been suggested that Wal-Mart is in the business of supplying its clients with commodities while its rivals are in the business of serving the CEO. Wal-Mart’s core values include: the manager is the consumer, delivering value to the customer, delighting the customer, providing employee appreciation and concern for the communities in which it works.