The Dynamics And Trends Of The Service Sector In The 21st Century
India's services sector covers a wide variety of activities such as trade, hotel and restaurants, transport, storage and communication, financing, insurance, real estate, business services, community, social and personal services, and services associated with construction. Service is far more important in the guest-purchase decision than even price and location.
Rise of the internet has also created a new framework for many retailers, in which electronic operations and those at physical stores are blended with each other, as demanded by the customer. Retail banking, along with a few other industries, remained in the top sectors that provide a positive customer experience. Although hospitality operations have their own levels of intricacy, the operating issues faced by healthcare operators and Banking are even more complex. The importance of cross-pollination between service industries is essential to explore and analyse the collaboration opportunities amongst each other in areas of Service Excellence, Human resource and Training.