Customer Satisfaction in the Retail Market: Reliance Industries

This report provides a comprehensive analysis of customer satisfaction within the retail market, specifically focusing on Reliance Industries. The study investigates the role of customer satisfaction in the retail industry, examining strategies employed by companies like Reliance Retail to understand and meet consumer needs. It delves into the impact of the COVID-19 pandemic on the retail sector, considering factors like supply chain disruptions and shifts in consumer behavior. The research incorporates a literature review exploring various determinants of customer satisfaction, including pricing, motivation, and brand emotion, and the methodologies used for data collection. The report highlights the importance of understanding consumer needs and implementing effective strategies to enhance customer satisfaction and overall business productivity. It addresses the research questions regarding the strategies used by Reliance Retail, the importance of customer satisfaction, and the impact of COVID-19 on the retail market.

Running head: RELIANCE INDUSTRIES 1
A Study of Customer Satisfaction in the Retail Market in Relation to
Reliance Industries

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ABSTRACT
This study has effectively analyzed that, customer satisfaction is a significant measure which
evaluates whether the customer is happy with the specific products, capabilities and services of
the company. It has been examined that, satisfaction of the customers play significant role in
improving the brand image of the company. Resolving their queries and providing proactive
assistance helps in boosting up the satisfaction level of the customers. . The COVID- 19 has
shifted the face to face interaction and wide set of digital channel platforms. The engagement of
the digital tools and software is useful because it helps in effectively resolving the queries as
early as possible.

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ACKNOWLEDGEMENT
I would like to express my sincere gratitude towards my professors who has given me
this opportunity to carry out the project on the topic customer satisfaction in the retail market in
relation to Reliance Industries. This study helped me explore my knowledge and understanding
by learning various new things by researching on the relevant topic.
I would also like to thanks my parents and my friends for their constant support and who
helped me finalize the project within the specified time frame.
Last but not the least, I would like to thank my colleagues for their constant support and
guidance.

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TABLE OF CONTENTS
INTRODUCTION ........................................................................................................................ 5
LITERATURE REVIEW............................................................................................................... 8
RESEARCH METHODOLOGY..................................................................................................11
DATA ANALYSIS....................................................................................................................... 13
CONCLUSION........................................................................................................................... 16
RECOMMENDATIONS ............................................................................................................. 17
REFERENCES.......................................................................................................................... 18

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TITLE: “A Study of Customer Satisfaction in the Retail Market in Relation to Reliance
Industries.”
INTRODUCTION
Reliance Industries is one of the most successful companies in India. The company has
various subsidiaries, including Reliance Retail Limited, which focuses on providing various
goods under the retail approach. The company was formed in 2006 and is classified as the largest
retailer in the country in terms of total revenue. The company provides various products,
including apparel, groceries, footwear, electronic goods, farm implements, and home
improvement products. The company recorded total revenue of US$ 18 billion, which indicates
they have continued to meet consumer demands. Reliance Retail has approximately 3,837 stores
in India and continues to seek expansion into other markets. To reach all markets, the company
has to focus on an aspect such as consumer satisfaction. Consumer satisfaction encompasses
various aspects, including understanding the different consumer needs and developing policies to
ensure the needs can be met.
The research will be developed in a bid to understand the different aspects of consumer
satisfaction in the retail market. It will focus on aspects such as the strategies utilized by
companies such as Reliance Retail to understand consumer needs. Additionally, it will focus on
the strategies used to enhance organizational structures and processes to meet consumer needs.
The study will incorporate a study of the effect of the Corona Virus pandemic on the retail
industry while focusing on Reliance Retail Industries. The current pandemic has affected most
businesses and the retail business has been the worst hit based on factors such as the disruption
of the supply chain, reduction in international trade, and consumer buying power.
Research Aims

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The research will focus on the inclusion of consumer satisfaction as part of the retail
industry. The research will focus on the processes being adopted by various companies such as
Reliance Industries as they seek to meet consumer demands and enhance consumer satisfaction.
The research will also focus on the research by various scholars and their understanding of
different strategies used to enhance consumer satisfaction. The study will also seek to understand
the effect of the COVID 19 pandemic on the retail industry.
Research Objectives
 To identify the role of consumer satisfaction in the retail industry.
 To identify the strategies applied by Reliance Retail Industries in a bid to boost consumer
satisfaction.
 To understand strategies that can be applied by other businesses to boost consumer
satisfaction and overall productivity.
 To identify the impact of COVID 19 on consumer satisfaction in the retail industry.
Research Questions
 What strategies are used by Reliance Retail Industries to boost the concept of consumer
satisfaction in the retail sector?
 What is the importance of understanding the role of consumer satisfaction in the retail
market?
 What strategies can be employed by other companies as they seek to improve consumer
satisfaction in the retail market?
 Has COVID 19 had an impact on consumer satisfaction, consumer buying power, and
international trade in relation to the retail market?
Limitations of the Research

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There are various limitations that have been identified and will have a significant impact
on the research and the ability to deliver as per the desired research objectives. The primary
limitation of the research is the lack of time that could allow comprehensive research. The
research process can be termed as comprehensive if it can be conducted for the right duration.
The research process involves gathering data from different sources, and it is essential to ensure
each piece of data matches the research objectives and contributes significantly to the final
research product. Additionally, the research is also likely to be influenced by the lack of proper
research materials relating to consumer satisfaction as it relates to Reliance Retail Industries.
Most of the research can be termed as generic as it focuses mainly on the generic principles of
consumer satisfaction. Trying to tie the research to Reliance Industries can be termed as a time-
consuming process. Some of the information gathered in the process might not be applicable to
the research at hand.

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LITERATURE REVIEW
Different scholars have tried to focus on various aspects that shape customer satisfaction.
The article by Auf, Meddour, Saoula & Majid (2018) focuses on the role of aspects such as price,
perceived culture, motivation, and religious orientation on customer satisfaction. The concept of
pricing will tend to have a significant effect on purchase decisions. The United States of America
has faced a number of challenges in terms of the economic condition. As such, the consumers
have to ensure that their spending patterns are prudent. They have to spend in a manner that is in
line with their financial condition. Businesses have to ensure that their prices are acceptable
within the market. They have to study the market to understand the overall financial state of their
target market (Auf, Meddour, Saoula & Majid, 2018). This would help them set prices that
would appeal to the consumers. The market is likely to respond to products that offer low prices.
However, businesses should also ensure that their products are of the best quality. This would
make it easy for the consumers to make the purchase decision. Pricing may also take into
account aspects such as lifestyle, and particular businesses may charge higher prices to ensure
they appeal to a specific section of the market.
The article also shows that customer satisfaction can be studied by focusing on
motivation. It is critical to understand the factors that push an individual to make a particular
purchase decision. Individuals might have different motives to purchase a specific product.
Individuals might be influenced by their reference groups such as their family. One may also be
influenced by their culture, and they will tend to get products that appeal to their cultural values.
For example, the Hispanic community in the United States of America undertakes purchase
decisions based on influence by their families (Auf, Meddour, Saoula & Majid, 2018). They will
also tend to undertake consumption decisions after consulting their family. They also tend to

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visit malls as a group, and this would have a significant effect on their consumer choices. One
might also be motivated to make specific purchase decisions based on social status and financial
position.
The article by Katrodia, Naude & Soni (2018) focuses on the various determinants of
customer satisfaction. The study focuses on the shopping mall in Durban and tries to focus on the
shopping patterns exhibited by shoppers. By choosing to focus on malls, the research gets to
explore different types of shoppers that may display different consumption patterns. The study
has established that shoppers are likely to choose specific times to take part in shopping. The
research states that most individuals would like to visit the malls during the holidays. During the
holidays, they have the time needed to help them go through the different alternatives and get the
products that meet their needs. At this time, the shoppers can also tag along their friends and
family that can help them make the purchase decisions.
The research also addresses the source of information and how that can help the
consumers make the best decision. While shopping at the mall, there are different stalls, and
some may tend to offer substitute goods. The consumers can seek information from the various
stalls, and they can compare the data to help them make the best decision. Malls also tend to
conduct promotional offers which offer the needed information. The customer can use the data
from the offers to arrive at the best purchase decision. The study also focused on the effect of
buying capacity on the consumption behaviors in malls (Katrodia, Naude & Soni, 2018). The
study states that shoppers have different abilities and each will tend to engage in purchase
decisions based on their level. For those with a higher buying capacity, they will tend to spend
more time at the mall and will also engage in impulse buying. Those will lower buying capacity
will manage to purchase the basic products.

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Koshkaki (2014) focuses on the role of brand and product emotion in purchase behavior
and customer satisfaction. The study focuses on Iran and the manner in which home appliances
are purchase in the region. The product offered by any business has to ensure that elicits
particular emotions among the consumers. The product has to fit within the needs of the
consumer and has to make them feel that they are comfortable. Consumers are willing to engage
with a product that offers a sense of belonging. One would be willing to engage with such a
product in the long run, and this will boost business performance. The article focuses on the
manner in which self-image enhances the concept of brand and product emotion. One must feel
that the product is representative of what they stand for and they would be willing to engage such
products.

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RESEARCH METHODOLOGY
Research methodology focuses on the procedures to be applied by a researcher in
conducting the research effectively. The research methodology can focus on different approaches
to be used in collecting the data. The methodology will also focus on the need to collect data in a
manner that helps achieve business objectives.
Research approach
The research will use a specific research approach that will offer data related to consumer
satisfaction and its influence in the retail industry.
 Qualitative approach – Qualitative investigation approach is significant for collecting
in-depth data. This can be defined as the examination where precise data is gathered. The
subjective examination is essential for responding to how and why the question identified
with the exploration and breaking down collected data through appropriate data. In this
case, the research will be in a position to gather data on consumer satisfaction in the retail
industry.
Research philosophy
The concept is considered as the brief to be used by a researcher to assist in gathering
data and getting needed results. This is significant as it gives direction to the analyst to lead
research exercises. In this investigation, the research will rely on the positivism approach as it
will make it easy for the researcher.
Data collection method
There are a number of sources that are critical in collecting as well as analysing the data
to attain the outcome of the research. The data collection process is essential as it will lead to the
decision taken by the researcher regarding the investigation topic or problem. In this research,

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the investigator will be using secondary methods of data collection. For secondary data
collection sources, the researcher will be considering online data, books and journals, and
different other sources.
Ethical consideration
It is crucial for the researcher to consider ethics and morals while performing different
activities of the research. By considering ethics while performing research practices, it will
positively affect the whole research process and help in successfully attaining desired outcomes.
It is essential for researchers to correctly record and store the collected information to protect it
from getting misused.

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DATA ANALYSIS
The data considered in this case is related to the literature. The data has to be subjected to
a data analysis process. In this case, the focus was on identifying the various themes related to
consumer satisfaction. Identifying the themes offers an opportunity to understand the construct
of consumer satisfaction and how it can be used in decision making for companies such as
Reliance Industries. The data analysis process can be complex as the information provided by the
different authors might not match the required objectives. In this case it was essential to focus on
the research that would improve the understanding of consumer satisfaction and its role in the
retail market.
Customer satisfaction is referred to as the effective measures which is useful in
determining whether the customer is happy with the products, capabilities and services of the
company. It is considered to be best because it helps the management of the company in
effectively improving and managing the operations of the business. Within the Australian retail
market, the customer satisfaction level generally scales from good to excellent (Hamilton, 2020).
As per the 2019 report, the retail industry of the Australia tends to receive customer satisfaction
ratings between 70% to 95%. The high degree of customer satisfaction tends to effectively
demonstrate improved degree of brand image for the company. The Australian hardware stores
tends to give high degree of customer satisfaction scores. This eventually leads to high rate of
operational efficiency and productivity. The jeans retail tends to largely dominate the clothing
store in terms of customer satisfaction.
Offering proactive customer service is considered to be one of the key relevant strategy
which helps in improving the customer satisfaction (Xie, Jia, Meng and Li, 2017). Resolving
complaints as early as possible is highly significant because it is useful in improving the

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goodwill of the Reliance Retail Industries. This is one of the key significant way through which
it helps in improving the level of customer satisfaction with utmost degree of accuracy and
efficiency. Personalizing the experience of the customers is highly significant in boosting up the
satisfaction level of the customers. Moreover, providing the customers with the multi- channel
support is highly significant because it leads to improved degree of customer satisfaction
(Sreelakshmi and Prathap, 2020). The Reliance Retail Industry must focus on effectively
developing high degree of customer service communities which helps in meeting the key
relevant needs of the customers. As per the research, providing additional set of benefits to the
customers is one of the key significant strategy which is useful for increasing the satisfaction
levels, sales and profitability of the company (Karpen and Conduit, 2020). Engagement of the
real time tools and resolving the queries of the customers proactively is highly significant for the
reduction within the churn rate. Providing instant response using live chat and also maintaining
the customer service etiquette is useful and helps in improving the better customer satisfaction.
Around 62% of the customers across the globe tends to demonstrate that, they have
actually stopped carrying out the business activities after a poor set of customer service
experience. Another alternative method which is useful in reduction of the customer service gap.
However, 90% of the customers need self service customer support which helps in educating
themselves on their own terms (Hussain and Dawoud, 2020). Using artificial intelligence helps
in providing customer service support on a real time basis. However, COVID- 19 has greater set
of impact on the retail industry. The retail industry of the Australia tends to mainly account of
9.8% of the overall workforce. COVID-19 has adversely impacted the Reliance Retail Industry
of the Australia. The retail market has has also decreased by 3.2% in the year 2020 and the
customer has faced recession. Large number of employees has lost their job which has resulted in

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lower degree of the customers satisfaction (Howell and Potgieter, 2020). The COVID- 19 has
shifted the face to face interaction and wide set of digital channel platforms. The engagement of
the digital tools and software is useful because it helps in effectively resolving the queries of the
customers. Feedback strategy is also highly significant because it helps in effectively
customizing the satisfaction of the customers which is useful in creating high degree of brand
image and customer loyalty (Xie, Jia, Meng and Li, 2017). It is of key relevant importance to
have the online communities because it helps in increasing the customer satisfaction rate.
However, customers which give significant positive experience and helps in increasing the
lifetime value towards the company.

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CONCLUSION
The research also focuses on the perceived risks associated with coming up with product
and brand emotion. The business has ensured that their products can elicit positive reactions
from the consumers. While trying to come up with a brand, a company runs the risk of using the
wrong approach which would alienate consumers from the brand and the product. Companies
should engage the market to understand what the consumers need, and this would help them
avoid risks. The consumers also focus on the hedonic value of the products which takes into
account the ability of the products to provide the required pleasure. The consumers also take into
account the symbolic value of the products and what such products mean to them.

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RECOMMENDATIONS
This study has recommended that, Benchmark the customer satisfaction and
demonstrating clear knowledge of the product is considered to be highly relevant which helps in
improving the level or degree of satisfaction among the customers. Boosting up the loyalty of the
customers and improving the brand image is one of the key prominent measure which helps in
increasing the customer satisfaction level ((Xie, Jia, Meng and Li, 2017)). Offering proactive
customer service, taking feedback and personalizing the experience of the customers are key
relevant strategy which helps in improving the customer satisfaction. Engagement of the real
time tools and also resolving the queries of the customers helps in providing high degree of
customer satisfaction.

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REFERENCES
Auf, M., Meddour, H., Saoula, O., & Majid, A. (2018). Consumer buying behaviour : the roles of
price, motivation, perceived culture importance, and religious orientation. Journal Of
Business And Retail Management Re Search (, 12(4).
Hamilton, J. (2020). The Strategic Change Matrix and Business Sustainability across COVID-
19. Sustainability.12(15). 6026.
Howell, B. E., & Potgieter, P. H. (2020). A Tale of Two Contact-Tracing Apps–Comparing
Australia’s COVIDSafe and New Zealand’s NZ COVID Tracer. Available at SSRN
3612596.
Hussain, R., & Dawoud, D. M. (2020). Drive-thru pharmacy services: A way forward to combat
COVID-19 pandemic. Research in Social and Administrative Pharmacy.
Karpen, I. O., & Conduit, J. (2020). Engaging in times of COVID-19 and beyond: theorizing
customer engagement through different paradigmatic lenses. Journal of Service
Management.
Katrodia, A., Naude, M., & Soni, S. (2018). Determinants of shopping and buying behavior: a
case at Durban shopping malls. African Journal Of Business And Economic Research,
13(1), 219-241. doi: 10.31920/determinants_of_shopping_and_buying_behaviour
Koshkaki, E. (2014) "The role of product and brand emotion in purchase behavior, a study in
Iranian home appliance context," Journal of Asia Business Studies, Vol. 8 Issue: 3,
pp.233-248, https://doi.org/10.1108/JABS-10-2012-0047
Perreault, W., Cannon, J., & McCarthy, E. (2014). Basic marketing (19th ed.). New York:
McGraw-Hill Higher Education.

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Sreelakshmi, C. C., & Prathap, S. K. (2020). Continuance adoption of mobile-based payments in
Covid-19 context: an integrated framework of health belief model and expectation
confirmation model. International Journal of Pervasive Computing and Communications.
Xie, X., Jia, Y., Meng, X., & Li, C. (2017). Corporate social responsibility, customer
satisfaction, and financial performance: The moderating effect of the institutional
environment in two transition economies. Journal of Cleaner Production.150. 26-39.