The competition among the organizations in financial services sector is continuously increasing. Banking industry is a backbone of nation’s economy and it is one of the largest industries in India in terms of revenue and employment. The banking structure played a major role in the mobilisation of savings and promoting economic development. The intensity of customer-organisation relationship has changed dramatically over time. Customer experience is the product of an interaction between an organisation and a customer over the duration of their relationship. The key elements like strategy, culture, processes and systems etc. impact the CEM in banks. The antecedents like customer knowledge management, satisfaction, trust and loyalty influence the CEM in organizations. This paper is an attempt to trace out the elements of CEM and the various factors leading to the neglect of CEM in banking sector.
In India there has been a tremendous change witnessed on the consumer behavior since the liberalization of Indian economy from the year 1990s. In a developing economy like India, the biggest challenge a retailer faces would be to tackle the ever-changing consumption practices. India is the world’s fifth largest global destination in the retail space. The consumers in different socio-economic classes will generally have different priorities which will affect how they spend their money. It is essential on the part of retailers to understand socio-economic and demographic factors of consumers, affecting the antecedents of customer experience management in retail trade. This paper is an empirical analysis to know the socio-economic factors impact on consumer behavior in retail sector.
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