The Impact of customer relationship management on customer retention in aspect of Daraz Bangladesh LTD

Abstract

The study intended at assessing the effectiveness of Customer Relationship Management (CRM) strategies used by Daraz and their impact on customer retention in the rapidly evolving ecommerce industry of Bangladesh. By conducting a comprehensive analysis of Daraz's customer relationship management (CRM) practices and administering a survey to a sample size of 100 customers, significant trends and patterns were identified. The most significant factors influencing customer retention were found to be personalized communication, effective grievance resolution, and customized loyalty programs. These findings highlight the need to adopt a customer-centric strategy to enhance brand loyalty and, therefore, maintain a high level of customer retention. This research not only contributes to the advancement of knowledge about customer relationship management (CRM) dynamics within the e-commerce industry, but also offers practical suggestions that may be implemented by Daraz Bangladesh Ltd. Through the process of enhancing personalized communication channels and optimizing loyalty programs, Daraz has the potential to enhance consumer satisfaction, cultivate long-lasting customer connections, and establish a competitive edge within the market.