Antecedents of Loyalty and Satisfaction of Supermarkets Consumers in the Organized Retail Sector

Abstract

The retail industry in India has seen phenomenal advancements. Retailing and various brands of retailers have come a long way out of Pandemic situations which lasted for three years all over the world. The organized retail industry saw challenges logistics and supply chain of products and services, pricing inflation, uncertain economic conditions and geo political factors which created a great impact on retailers and their financial settings. In the year 2023, various studies show that there is positive comeback and focus on the consumer buying pattern and shopping journey. The future of retailing is expected to give seamless shopping experience to consumers across our country. According to Boston Consulting Group (BCG), it is predicted that Indian retail would reach a whopping $2 trillion value by 2032. This means 2023 is expected to have great business value prepositions in the retail sector. Consumer satisfaction and loyalty has a radical impact on the organized retail sector, where brining back consumers is a huge challenge amidst massive competition among retailers. This study focuses on Supermarket section which is one growing segments of organized retailing. Consumer requirements are highly categorized by Supermarkets in order to meet their daily and monthly needs. This study emphasized to encounter the factors leading to consumer satisfaction and their loyalty towards supermarkets of Tamil Nadu with specific reference of Chennai city sampling around 126 consumers under non- probability judgement sampling. Based on statistical analysis using SPSS for the data collected it was found that there is great connect between consumer satisfaction and loyalty towards services rendered by Supermarkets.