Sarang banubakde retail_report_bigbazaar
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Big Bazaar, India's largest retailer. Understand the retail strategy, marketing strategy, sales promotion and other retail aspect at Big Bazaar.
Transcript of Sarang banubakde retail_report_bigbazaar
- Retail Visit Report: Big Bazaar Sarang Banubakde Individual Assignment-RMS Page 2 Guided By : Prof. Bibhas Basumatray Submitted by: Sarang Bnaubakde 1361 MBA3
- Retail Visit Report: Big Bazaar Sarang Banubakde Individual Assignment-RMS Page 3 Table Of Content Sr.No Topic Page No. 1. Indian Retial Industry: An Overview 4 2. About Brand: Big Bazaar 5 3. Socio Economic Importance of Big bazaar, Mulund, Mumbai 6 4. Retail Type and Product/Service Categories 8 5. Key Strategic Drivers Of Hypermarkets 11 6. Modern Technology Deployed by Big Bazaar 13 7. Marketing Mix Strategy by Big Bazaar 15 8. Refrences 19
- Retail Visit Report: Big Bazaar Sarang Banubakde Individual Assignment-RMS Page 4 Indian Retail Industry: An Overview India, one of the most diversified and second largest populated nation in world, have biggest number of consumer in world except China, which tops the list. With 1.25 billion of population, India is hot market for retail industry and great deal to cater for. Today Indias total retail industry stands for $450bn. A large young working population with median age of 24 years, nuclear families in urban areas, along with increasing working women population and emerging opportunities in the services sector are going to be the key factors in the growth of the organized Retail sector in India. The growth pattern in organized retailing and in the consumption made by the Indian population will follow a rising graph helping the newer businessmen to enter the India Retail Industry. Indian retail is expected to grow 25 per cent annually. Modern retail in India could be worth US$ 175-200 billion by 2016. The Food Retail Industry in India dominates the shopping basket. The Mobile phone Retail Industry in India is already a US$ 16.7 billion business, growing at over 20 per cent per year. The future of the India Retail Industry looks promising with the growing of the market, with the government policies becoming more favorable and the emerging technologies facilitating operations. According to the Global Retail Development Index 2012, India ranks fifth among the top 30 emerging markets for retail.
- Retail Visit Report: Big Bazaar Sarang Banubakde Individual Assignment-RMS Page 5 About Brand: Big Bazaar Launched in August 2001, Big Bazaar a child of Future group India, has now become the iconic destination of modern retailing for all sections of Indian consumers. Big Bazaar is credited with bringing organized mega retailing to India. Brand Big Bazaar stands for delivering value for money. Customer service and shopping comfort are at the core of Big Bazaars philosophy. Innovation and initiative define its brand character. It strives to reach out to its customers by imbibing the local flavour and melting into the local geography. The first Big Bazaar store, with an area of about 24,000 square feet, opened on VIP Road, Kolkata in August 2001. This was followed by stores in Hyderabad, Bangalore, Mumbai and Gurgaon. Their vision is to deliver everything, everywhere, every time for every Indian consumer in the most profitable manner. Brand Associ- ation for Big Bazaar After 2011 Till 2011
- Retail Visit Report: Big Bazaar Sarang Banubakde Individual Assignment-RMS Page 6 Socio-Economic Importance of BigBazaar Mulund, Mumbai Mulund is a suburb in north-east of Mumbai, India about 32 kilometers from it. It is also has a railway station on the Central Railway line of the Mumbai Suburban Railway It is nestled alongside the foothills of the Sanjay Gandhi National Park with easy access to the Eastern Express Highway and Navi Mumbai through the Mulund-Airoli Bridge. Mulund is known as "Prince of Suburbs" due to its trendy lifestyle. Mulund is one of the few suburbs of Mumbai to boast of a vibrant night life. The centre of it all lies within Nirmal Lifestyles mall, near Nahur. This is where Big Bazaar is located. Hence the footfall in Big Bazaar atNirmal lifestyle is much highest among all the retailers in Mulund. It has a population of more than 9 lakh. A cosmopolitan mix of Gujaratis, Maharashtrians , Tamils, Malayalis, Kannadigas, Sindhis and Punjabis live in Mulund. Big bazaar has a great opportunity to serve this cater the demand of this cosmopolitan population. As Mulund is known for its trendy culture, Big bazaar has adopted its store pattern here and hence serves all the category possible. Not only Indian, but its the only place in Mulund where you will get Chinese, Thai, Mexican, Italian and other continental food ingredients. Mulund have large number of low income group, who mostly stays in area like Gawanpada, Kindi Pada etc. Also this it is very proximate to Thane and Bhandup where also large number of low income group lives. Big bazaar Mulund have staff of around 170, which include cashiers, attendees, helpers, box boys, skilled labors for various sections, security guards and back office management. When 50 of those employees were enquired, 32 of them were from Mulund and surrounding area and others were from rest of the Mumbai. Total number of Employees in Big Bazaar Mulund Employees from Mulund and surrounding suburbs (117) Employees from Rest Mumbai(54) Picture below showing the continental food rack in Big Bazzar
- Retail Visit Report: Big Bazaar Sarang Banubakde Individual Assignment-RMS Page 7 Thus Big Bazaar provide a good opportunity for habitants of Mulund and surrounding suburbs. It is part of Nirmal Lifestyle mall, which is a social hub for Mulundites. Nirmal also have their residential apartments in same campus of mall. There are total 150 plus flats and all are occupied. Hence it is readily catering 150 households daily. Other than this, as big bazzar is one stop shop for most of the household amenities, many household gives it a first preference, over other hyper markets. According to socio economic indicators of change in India, the per capita consumption of food grains in KG has increased from 182 in 1991-92 to 225 in 2006-07. This figure clearly indicates the increase in spending and consumption of food and related services has grown in India. India has the largest growing middleclass. The per capita income of middleclass in last two decade has increased many folds. Big Bazaar with its offering of cheapest and best in the range, targets directly to this ever increasing middleclass. The following figure shows that among the most rising nation of the world, India has the maximum of more tham 75% of its population as middleclass. Hence with its more than 250 stores all around India, Big Bazaar has emerged as one of the most important and a trend setter player in organized retail sector in India, with high score on socio-econominc quotient pertaining to its employment generation and service offering to all social classes in India.
- Retail Visit Report: Big Bazaar Sarang Banubakde Individual Assignment-RMS Page 8 Retail Type and Product/Service Categories Big Bazaar is credited with bringing organized mega retailing to India. The project was conceived as a uniquely Indian hypermarket in a format that combined the look, touch and feel of Indian bazaars with the comfort, convenience and quality that modern retailing brings. Attracting over 100 million customers every year, it has democratized shopping in India and become synonymous with great promotions that offer quality products at affordable prices. On a typical weekend evening, a Big Bazaar store plays host to over 10,000 customers from moms along with their demanding kids to senior citizens with their grand children in tow. Built on an inclusive platform that welcomes consumers from all socio-economic strata, a visit to Big Bazaar is not only about shopping but also about pending quality time with the family. Format Products Category Value Added Services ->Hypermarket. ->30,000 square feet to 160,000 square feet ->Big Bazaar Mulund size 55,000 square feet ->Apparel -> General merchandise -> food & beverages ->cosmetics -> Home needs & dcor (FMCG non food) ->electronics -> Furniture ->communications ->books & entertainment ->consumer credit -> beauty ->salons -> gyms & health services -> travel services
- Retail Visit Report: Big Bazaar Sarang Banubakde Individual Assignment-RMS Page 9 Other than those mentnioned above Big Bazaar have several other brands like Pepsico, Philips, Britannia, Tupperware, Wipro, Sula, Puma, Bombay dying, Parle Agro etc. Following table shows the price comparison of private label Kroyo of Big Bazaar v/s other local label of Croma, Zine and National Brands like Samsung, LG, Bajaj and Morphy Richards
- Retail Visit Report: Big Bazaar Sarang Banubakde Individual Assignment-RMS Page 10 With a better understanding of consumer behaviour across various cultures and classes, Big Bazaar has put together a stunning range of over 160,000 SKUs. Private labels of Big Bazaar are among the largest apparel and fashion brands in the country. These include, DJ&C mens casual wear range and Knighthood mens formal wear range; Pink & Blue are exclusive garments designed for modern kids; Srishti, a label of ethnic wear for women; Haute N Spicy, fashionable western wear for teenage girls; Dreamline, a label that caters to an entire range of home linen, utensils and crockery and Dtachi, a luggage label that offers outstanding value for money. Big Bazaar has also tied up with a host of well-know brands which offer