Mystery shopping in Indian retail banking industry

Abstract

The project targets to discuss the phenomenon of Mystery Shopping in the field of Retail Banking and how it can be used to measure customer satisfaction. Customer Satisfaction is a very important tool which helps businesses gain profitability and sustainability over the years to come. By analysing past literature & secondary research we presented the identified customer satisfaction levers in the Interim report. In this final report these levers were used to design a questionnaire on the basis of which the final results were calculated. Further on the basis of the results of the questionnaire a final list of satisfaction levers was constructed and those were used to prepare an observation sheet used to conduct Mystery Shopping. The mystery shopping was conducted across 4 bank branches namely, ICICI bank (BTM Layout Branch), Indian Bank (Ahmedabad branch), State Bank of Mysore (IIM Bangalore branch) and State Bank of Mysore (Bannerghatta road branch). The primary research results so achieved are used to device recommendations for enhancing customer satisfaction in Retail Banks.