Indian Retail Industry accounts for more than 10% of the country's GDP. Retail industry, being an incentive-induced industry exercises the fundamental principle of Economics extremely well.
Retailers organize contests and giveaways to register new customers and engage with existing customers. The benefits of such incentives are manifold. They help in capturing customer data and demographic information and act as a catalyst in building relationship with the customer base.
The holidays, events and seasoned offers are custom-made to attract people. The retail outlets give a mind-boggling discount to lure in customers in region-specific viable season.
Online retailing has made the whole process much easier. The comfort factor associated with online shopping is a default incentive for consumers. The wide array of products and the user-friendly website with offers as well as premium services for registered members has made the purchasing experience much smoother.
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