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RETAIL IN INDIA
&
A COMPARATIVE ANALYSIS OF
&
SUBMITTED IN FULFILLMENT FOR DEGREE OF
M.B.A
Under the Guidance of:
Mrs.Richa Sharma(AVP)
SUBHIKSHA TRADING SERVICES LTD.
SUBMITTED BY: -
SYED SHADAB ALI
ROLL NO-001246198 ,STUDY CENTRE- 2704
IGNOU
NEW DELHI
1
INDEX
Sr No. Contents Pg. No.
1 Executive Summary 5
2 Introduction 6
3 Present scenario of retail sector in India. 9
4 Literature Review 11
5 Major Formats Of Retail In India 14
6 Evolution of organized retailing 17
7 Retail Model 19
8 Critical success factors in retailing 20
10 Retailing In India 25
11 Recent trends of retailing in India 30
12 Major players in Retailing in India 37
13 Challenges of Retailing in India 39
16 FDI in retailing 45
2
Certificate
This is to certify that this project titled “Emerging trends of Retailing in India” is
the original work of SYED SHADAB ALI, Roll No: 001246198, MBA
( MARKETING), Region:Lucknow Region Code:27 Study Centre Code:2704,
IGNOU, New Delhi.
This dissertation is done under the guidance and supervision of Mrs.Richa Sharma
(Associate Vice President) Subhiksha Trading Services Ltd. ‘ This dissertation
report has not been submitted to any other institution or organization for any kind of
assessment or consideration, to the best of my knowledge.
3
ACKNOWLEDGEMENT
It is high privilege for me to express my deep sense of gratitude to all those people
who helped me in the completion of the project, especially my guide Mrs. Richa
Sharma Associate Vice President ,Subhiksha Trading Services Ltd. who was always
there at hour of need.
My special thanks to IGNOU staff and faculty for helping me in the completion of
project work and its report submission.
Finally, I would like to thank all the people, without whose insights and opinions, this
project would have been impossible.
4
EXECUTIVE SUMMARY
So far, it has been seen that retailing is a vital and involuntary action
performed by the living structure of the market economy (as opposed to
the case in a barter economy). In a barter economy, bane; transactions
take place between consumers themselves. Consumers interact directly
whereas in a centralized market economy, transactions taking place at a
larger scale (both in terms of volume and variety) necessitate an
interface between the manufacturers and final consumers. Hence we
reinforce the fact that retailing is not a new deal. This industry is extant
as an interface between production and consumption, from times
immemorial, benefiting us - consumers or producers in the various ways
discussed above.
5
INTRODUCTION
“Any business that directs its marketing efforts towards satisfying the
final consumer based upon the organization of seiting goods and
services as a means of distribution"
6
Over the last twenty years, retailing has changed as a result of following
developments:
Faster transport links across the world, which has made available
a wider range of goods.
There were 5.13 million retail outlets in 1996; today, the figure is closer
to 6 million. Most of them are either grocers or paan-plus stores that
stock everything from cigarettes to smuggled Scotch. But these figures
could be misleading. Just 3 per cent of the country's retail outlets can be
called large; 64 per cent are small.
7
For functional products like plain-vanilla FMCGs, traditional formats will
do. For innovative products, like high-value FMCGs, cosmetics,
garments, or consumer durable, innovative formats are a must.
Keeping the consumer in mind, the study attempts to find whether a shift
from the kirana store to the supermarket exists today or not.
8
PRESENT SCENARIO IN RETAIL SECTOR IN INDIA
However, there will be few stumbling blocks that may restrict the growth
of retail sector. These include very high stamp duties on transfer of
property which vary from state to state level. A case in example is
Gujarat, Uttar Pradesh and few other states where the stamp duty is
charged at 12.5%, while there are certain states like Delhi in which the
stamp duty levied is within the range of 8%.
Urban Land Ceiling Act, Rent Control Act and Land Acquisition Act until
amended will continue to distort property markets and cities, leading to
exceptionally high property prices. Presence of strong pro-tenancy laws
will also make it difficult for retailers to grow as this problem is
compounded by lack of clarity over titles to ownership.
9
foreign investment in real estate business and retailing should also be
opened up.
On the domestic taxation front, sales tax rates differ across the various
Indian states, making supply chain management a challenging task for
organized retailers. Inter-state sales attracts Central Sales Tax while for
some categories of products, certain states levy import duties namely
entry tax on entry of goods into their territory. Simultaneously, states
levy export duties where goods are moved for sale outside state border.
Sales tax evasion by small retailers to offer lower prices, fetch higher
margins is also commonplace in local markets. In addition to state
taxes, certain local authorities also levy octroi.
All these things put together cause irritation and therefore, restrict the
growth of our economy. If retailing has to grow than the corrective
measures will be needed to be initiated for correcting the aforesaid
anomalies to lure investment in Indian retailing.
10
LITERATURE REVIEW
Retailing is the final step in the distribution of merchandise - the last link
in the Supply Chain - connecting the bulk producers of commodities to
the final consumers. Retailing covers diverse products such as foot
apparels, consumer goods, financial services and leisure.
11
whenever require. Hence, the value proposition a retailer offers to a
consumer is easy availabilities of the desired product in the desired
sizes at the desired times.
In the developed countries, the retail industry has developed into a full-
fledged industry where more than three-fourths of the total retail trade is
done by the organized sector. Huge retail chains like Wal-Mart, Carr
four Group, Sears, K-Mart, McDonalds, etc. have now replaced the
individual small stores. Large retail formats, with high quality ambiance
and courteous, and well-trained sales staff are regular features of these
retailers.
12
8 Sears, Roebuck and Co. (USA) 2231
Broadly the organized retail sector can be divided into two segments, In-
Store Retailers, who operate fixed point-of-sale locations, located and
designed to attract a high volume of walk-in customers, and the non-
store retailers, who reach out to the customers at their homes or offices.
13
Description The Value Proposition
Format
14
Convenience Small self-service Convenient location and
Stores formats located in extended operating
crowded urban areas. hours.
Baby boomers
15
Even after adjusting for inflation, the per Capita Expenditure in 1999,
was more than double of that in 1959.
Advent of dual income families also helped in the growth of retail sector.
A dual family can spend more but has very little time available for
shopping. Thus, convenience and speed of service became crucial
parameters.
Urbanization
From the supply side also, a number of developments fueled the growth
of the retail industry. Retailers understood the needs of the customers
and realized efficiencies through investments in Technology
Infrastructure and Employees. The outcomes were improved supply
chains, increased service levels and satisfied customers.
16
Evolution of Organized Retailing
American mass retailing began in the late 1800s with Montgomery Ward
marketing its products through general merchandise mail order
catalogs, which was very effective at that time for reaching a largely
rural society.
In the 1940s, the population began its movement to the suburbs as the
economy shifted from an agricultural base to an industrialised nation.
The first shopping center was opened, which would eventually be a
significant factor in the decline of downtown retailing in the 1960s and
70s. JCPenney and Sears began their national mass retailing
expansion, and the use of credit cards as major retail chains began.
The 1950s witnessed the reaffirmation of the traditional family. The first
planned mall and franchised food restaurant opened. As people
continued to flock to the suburbs, the downtown areas began to decline.
Larger suburban malls were created and anchored by traditional
downtown department store merchants. Freeways were expanded and
the sales of private automobiles grew, giving the consumer a wider
accessible area in which to shop. Discounters were born, Korvetta being
one of the firsts.
17
No. of retail outlets/ in Million Country
12.0 India
I. 18 Mexico
1 .07 Brazil
0.91 United States
0.32 Argentina
0.19 Malaysia
0.04 Hong Kong
Retail Statistics
Worldwide retailing is the single biggest industry. It has an annual sales figure
of $6.6 trillion.
In US alone the industry employs 17% of the total work force of the country. In
Poland it is 15%, in China it is 12% while in tndia it is just 6% of the total work
force.
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RETAIL MODEL
1. Product Selection
2. Price
The price the consumer pays for the goods offered by the retailer.
Process
3. Operational activity
4. Structure
What the customer experiences when conducting business with the retailer.
What the employee does and experiences when working for the retailer and
interacting with the customer
8. Services
Services such as delivery, installation, in home sales, and personal shoppers are just
a few examples. Services are considered a people component as they are most
19
often performed by people and their quality is determined as such share of the
market, its image and status and finally its survival.
CRITICAL SUCCESS FACTORS IN RETAILING
Pricing: The pricing policy is a key element of the overall store positioning
and merchandising strategy. Most customers today are looking for good value
for money, which is often embedded in their demand for lower prices,
acceptable quality and service. Retail cost structures in India are similar to
those of the western world, but the retail price and the margin structure are
lower by about IO per cent. For the retail chains to become successful,
retailers have to exhibit very high cost efficiency and get higher margins
through private labels or greater cash margins by faster rotation and higher
output.
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communications, which is the strategic integration of multiple communication
methods to form a comprehensive, consistent message. The elements in the
retail communication program must work together and reinforce each other so
the retailer can achieve its objectives. Without this coordination, the
communication methods might work at cross purposes. For example, the
retailer's TV advertising campaign might attempt to build an image of
exceptional customer service, but the firm's sales promotions might all
emphasize low prices.
Location: The right location decision for a retailer means being at the right
place at the right time. For several reasons, store location is often the most
important decision made by a retailer. First, location is typically the prime
consideration in a customer's store choice. Second, location decisions have
strategic importance because they can be used to develop a sustainable
competitive advantage. The important issues in location decisions are the
site's accessibility, terms and rates of occupancy and legal considerations.
Choosing a site involves evaluation of a series of tradeoffs, in terms of cost
and value of the site for a particular retailing format.
21
Store design and ambience: There is more to selling than locations,
merchandise and customer service, for which most organizations can develop
procedural codes. According to a study by A.T. Kearney, retail design is
responsible for about 10% increase in sale. The biggest challenge for a mega-
mall or a hypermarket is to create an environment that pulls in people and
makes them spend more time shopping. Two major factors that set one store
apart from another-store layout (the design or interior architecture), and visual
merchandising. Interiors and display are effective tools for store
differentiation.
Store design refers to the style or atmosphere of a store that helps project an
image to the market. Store design elements include such exterior factors as
the storefront and window displays and such interior factors as colors, lighting,
flooring and fixtures. It is an important image-creating element and should
begin with an understanding of preferences, desires and expectations of the
store's target market. When designing a store, managers must consider three
objectives. First the store's atmosphere must be consistent with the store's
image and overall strategy. Second, it should help influence customer's
buying decisions. And finally, the productivity of the retail space-how many
sales can be generated out of each square foot of space.
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KEY STRATEGIC FACTORS IN RETAILING
The 3 stages of evolution of the trade channel are shown in the exhibit below:
As seen, the role of the intermediary is being diminished gradually, which has
obvious Implication of backlash of the trade channel upwards towards the suppliers.
This is more severe in countries such as India, where the channel economics in
favor of the middlemen is still strong enough given the segmentation of the retail
sector. Therefore when Food World, the largest grocer in India has a "direct supply"
contract with over 20% of its key suppliers, it gives rise to conflict of interest with the
distribution infrastructure that suppliers have painstakingly built over the years. Thus
companies like HLL have evolved a distinct distribution channel altogether (called
"Modern Trade") to service the needs of such large grocers. Even the mom and
Manufacturer pop stores (known as kirana shops) are affected due to this "unfair"
back-end advantage extended by the supplier to its leading accounts (the emerging
supermarket chains).
23
The strategies adopted by the retailer to compete with branded goods are illustrated
in the diagram above. Branding the store and following a private label strategy is the
key strategy which helps the retailer to compete with branded products.
Leverage brands
Loyalty cards
Online shopping
24
Retailing in India
But the flip side of the coin is that the average size of each of the retail
outlets in India is only 50 square feet and though a large employer, the
industry is very unorganized, fragmented and with a rural bias.
There are nearly twelve million retail outlets in India and the number is
growing. Two thirds of these stores are in rural location. The vast
majority of the twelve million stores are small "father and son" outlets.
According to the "Retailing in India" report published by the PwC Global
Retail Intelligence Program, share of the unorganized sector is 98%.
4th Largest economy in PPP terms after USA, China & Japan.
The US $ 580 billion economy grew 8.2 percent in the year 03-04
25
With over 600 million effective consumers by 2010 India to emerge as one of the
largest consumer markets of the world by 2010.
Scalable and Profitable Retail Models are well established for most of the
categories
Looking Ahead
Many strong regional and national players emerging across formats and product
categories Most of these players are now geared to expand far more rapidly than the
initial years of starting up Most have regained / improved profitability after going
through their respective learning curves.
Malls in India
Today – 40 malls
26
THE INDIAN RETAIL INDUSTRY
Nearly two thirds of the stores are located in rural areas. The retail
industry in rural India has typically two forms: "Haats" and "melas".
Haats are the weekly markets: they serve groups of 10-50 villages and
sell day-to-day necessities. They are frequently used as replenishment
point for the small village retailer. Melas are larger in size and more
sophisticated in terms of the goods sold. Mela merchandise would
include more complex manufactured products such as televisions.
27
time around it was not the manufacturer looking for an alternative sales
channel. These were pure retailers with no serious plans of getting into
manufacturing. These entrants were in various fields, like - Food World,
Subhiksha and Nilgiris in food and FMCG; Planet M and Music World in
music; Crossword and Fountainhead in books. As of the year ending
2000 the size of the Indian organized retail industry was estimated at
around Rs. 13,000 crore. The various segments that make up the
organized retail industry along with their size are in table given below.
Retail growth is already gathering momentum and the organized retail
industry is expected to grow by 30 per cent in the next five years and is
expected to touch Rs. 45,000 crore in 2005. Thus, the growth potential
for the organized retailer is enormous.
Jewellery 2,000-2,500
Footwear 1,300-7,500
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Retail formats in India
Malls
Most malls give floor space out to individual shops on lease, and these
are enticed by the economies resulting from the sharing of costs. India's
largest shopping arcade Spencar Plaza (600,000-sq-ft) in Chennai is an
example. In malls like these, the combined brand pull of all outlets is
used to create a pull for the mall.
Branded Stores
Departmental Stores
Specialty Stores
Chains such as the Bangalore based Kids Kemp, the Mumbai books
retailer Crossword, RPG's Music World and the Times Group's music
chain Planet M, are focusing on specific market segments and have
established themselves strongly in their sectors. Absence of discounting as
a dominant format of retailing in India is a glaring peculiarity. The reasons are
two-fold. Unlike most Western countries, Indian retailers have much less
bargaining power. They thrive as small store and don't have the clout to
negotiate terms with the manufacturers. The other reason is that the retailers
themselves have no economies of scale to offer discounts on their own.
However, the scenario is now changing. Increased investments and the entry
of big business houses in retailing is leading to the emergence of bigger
29
retailers, who can both bargain with the suppliers, as well as, reap economies
of scale. Hence, discounting is becoming an accepted practice.
Retailing is the second largest industry in the world, one of the largest
employers of the world and an index of economic growth. In India there
are about 5 million retail outlets varying in sizes and nomenclatures.
India has the highest number of retail outlets per capita in the world but
has the lowest retail space per capita in the world (2 ft / person). Out of
these 5 million outlets 96% are smaller than 500 sq. ft. in area 3. There
are about 3 million outlets in India’s 3700 designated towns and more
than 6,00,000 villages. About 350 million people live, within one-minute
walk of these retail shops. According to retail census conducted by
market researcher ORG-MARK, Rs.4,79,568 crore worth of products
were sold through theses million retail outlets Manufacturers owned and
retail chain store are springing up in urban areas to market consumer
goods to the middle class in a much similar style as malls around the
globe. At present about 8% of the Indian population is employed in the
retailing industry as against 20% in USA. As India moves towards the
service oriented economy, a rise in this percentage is expected. The
number of the retail outlets is growing at about 8.5% annually in the
urban areas and in towns with population between 1, 00,000 to I million;
the growth rate is about 4.5%.
30
Format Of Retailing Consumer Spend by 2006
Organized Retailing
Source: Shah, Jindal “ Shop at Leisure” Economic Times (4th Feb 2000)
31
Retailer Current Format New Formats.
Experimenting With
32
Bombay Bazaar Aggregation of Kiranas
Popular Formats
Hypermarkets
Large supermarkets, typically (3,500 - 5,000 sq. ft)
Mini supermarkets, typically (1,000 - 2,000 sq. ft)
Convenience store, typically (7,50 - 1,000 sq. ft)
Discount/shopping list grocer
Traditional retailers trying to reinvent by introducing self-service formats as
well as value-added services such as credit, free home delivery etc.
a) FOOD RETAILERS
There are large number and variety of retailers in the food-retailing sector.
Traditional types of retailers, who operate small single-outlet businesses mainly
using family labor, dominate this sector .In comparison, super markets account for a
small proportion of food sales in India. However the growth rate of super market
sales has being significant in recent years because greater numbers of higher
income
Indians prefer to shop at super markets due to higher standards of hygiene and
attractive ambience.
33
With growth in income levels, Indians have started spending more on health and
beauty products .Here also small, single-outlet retailers dominate the market.
However in recent years, a few retail chains specializing in these products have
come into the market. Although these retail chains account for only a small share of
the total market , their business is expected to grow significantly in the future due to
the growing quality consciousness of buyers for these products .
Numerous clothing and footwear shops in shopping centers and markets operate all
over India. Traditional outlets stock a limited range of cheap and popular items; in
contrast, modern clothing and footwear stores have modern products and attractive
displays to lure customers. However, with rapid urbanization, and changing patterns
of consumer tastes and preferences, it is unlikely that the traditional outlets will
survive the test of time.
Small retailers again dominate this sector. Despite the large size of this market, very
few large and modern retailers have established specialized stores for these
products. However there is considerable potential for the entry or expansion of
specialized retail chains in the country.
e) DURABLE GOODS
The Indian durable goods sector has seen the entry of a large number of foreign
companies during the post liberalization period. A greater variety of consumer
electronic items and household appliances became available to the Indian customer.
Intense competition among companies to sell their brands provided a strong impetus
to the growth for retailers doing business in this sector.
34
PER CENT OF INDIA'S GDP. ORGANISED RETAILING HOWEVER. OCCUPIES A
MINISCULE TWO TO THREE PERCENT OF THE OVERALL INDIAN RETAILING
INDUSTRY. WITH AROUND 13°/ CONTRIBUTION TO THE GDP AND 7%
EMPLOYMENT OF THE NATIONAL WORKFORCE. RETAILING NO DOUBT IS A
STRONG PILLAR OF THE INDIAN ECONOMY. WHAT IT REOUIRES IS MORE
CORPORATE BACKED RETAIL OPERATIONS THAT HAVE STARTED TO
EMERGE OVER THE PAST COUPLE OF YEARS.
Store design
Discount stores have finally arrived in India and they are expected to
spearhead the revolution in organization retailing. Though this segment
is growing, it is small compared to international standards where around
60 per cent of the business comes from this format. Internationally, the
largest retailer in the world Wal-Mart is a discounter. These discount
stores have advantages of price, assortment dominance and quality
assurance and have the ability to quickly build scale and pass on the
benefits. However, the success would be for retailers who are able to
build the scale fast and manage their operations efficiently while offering
value to the customer consistently.
35
Unorganized Retailing is getting Organized
In a novel move, six Delhi based restaurants have come together and
formed a consortium: NFC, to promote New Friends Colony, a posh
locality in the Capital, as a branded place in town. The aim is to
increase footballs in the area, which is fast losing its sheen to its closest
and upcoming destinations such as large Cineplex’s, and malls, which
are backed by the corporate house such as 'Ansals' and 'PVR'.
36
Present Indian Scenario - Retail Realities:
Unorganized market: Rs. 583,000 crores
Organized market: Rs.5,000 crores
Over 4,000 new modern retail outlets in the last 3 years Over 5,000,000 sq. ft.
of mall space under development
The top 3 modem retailers control over 750,000 sq. ft. of retail space
Over 400,000 shoppers walk through their doors every week
Growth in organized retail on par with expectations and projections of the last
5 Years on course to touch Rs. 35,000 crores (US$ 7 Billion) or more by
2005-06
Major players:
FoodWorld
Shoppers' Stop
Subhiksha
Westside
Big Bazzar
Planet M
Nilgris
Lifestyle
Music World
Adani-Rajiv's
Globus
Lifespring Ebony
Pantatoon
37
A SNAPSHOT OF RETAIL OUTLETS IN INDIA
38
Challenges of Retailing in India
Retailing as an industry in India has still a long way to go. To become a truly
flourishing industry, retailing needs to cross the following hurdles:
The retailers in India have to learn both the art and science of retailing by closely
following how retailers in other parts of the world are organizing, managing, and
coping up with new challenges in an ever-changing marketplace. Indian retailers
must use innovative retail formats to enhance shopping experience, and try to
understand the regional variations in consumer attitudes to retailing. Retail marketing
efforts have to improve in the country - advertising, promotions, and campaigns to
attract customers; building loyalty by identifying regular shoppers and offering
benefits to them; efficiently managing high-value customers; and monitoring
customer needs constantly, are some of the aspects which Indian retailers need to
focus upon on a more pro-active basis.
Despite the presence of the basic ingredients required for growth of the retail
industry in
India, it still faces substantial hurdles that will retard and inhibit its growth in the
future. One of the key impediments is the lack of FDI status. This has largely limited
capital investments in supply chain infrastructure, which is a key for development
and growth of food retailing and has also constrained access to world-class retail
practices. Multiplicity and complexity of taxes, lack of proper infrastructure and
relatively high cost of real estate are the other impediments to the growth of retailing.
While the industry and the government are trying to remove many of these hurdles,
some of the roadblocks will remain and will continue to affect the smooth growth of
this industry. Fitch believes that while the market share of organized retail will grow
and become significant in the next decade, this growth would, however, not be at the
same rapid pace as in other emerging markets. Organized retailing in India is gaining
wider acceptance. The development of the organized retail sector, during the last
decade, has begun to change the face of retailing, especially, in the major metros of
the country. Experiences in the developed and developing countries prove that
performance of organized retail is strongly linked to the performance of the economy
as a whole. This is mainly on account of the reach and penetration of this business
and its scientific approach in dealing with customers and their needs. In spite of the
positive prospects of this industry, Indian retailing faces some major hurdles (see
Table 1), which have stymied its growth. Early signs of organized retail were visible
even in the 1970s when Nilgiris (food), Viveks (consumer durables) and Nallis
39
(sarees) started their operations. However, as a result of the roadblocks (mentioned
in Table 1), the industry remained in a rudimentary stage. While these retailers gave
the necessary ambience to customers, little effort was made to introduce world-class
customer care practices and improve operating efficiencies. Moreover, most of these
modern developments were restricted to south India, which is still regarded as a
‘Mecca of Indian Retail’.
40
BARRIERS OF RETAIL INDUSTRY
a) The unorganized
The first and major challenge facing the organized retail industry in India is
competition from the unorganized sector. Traditional retailing has been established
in India for many centuries. The local kirana shop or the street grocer still commands
the business. Estimates show that this unorganized sector accounts for nearly 95 to
99 percent of the total retail business in the country. This sector has a low cost
structure; is mostly owner-operated; and little or no taxes to pay. Consumer
familiarity that runs from generation to generation is a major advantage for this
traditional retailing sector.
In contrast, players in the organized sector have big expenses to meet, and yet need
to keep prices low enough to be able to compete with the traditional sector. High
costs for the organized sector arise from higher real estate costs (as most of these
retail stores are located on prime real estates in big cities), high labour costs, costs
for providing comfort facilities such as air-conditioning, value added services like
home delivery, back-up power supply, high inventory costs, taxes etc.
c) Sourcing economics
The absence of large retail chains does not allow large purchases, and hence no
sourcing economies are possible.
d) Automobile ownership
In India, automobile owners are limited to around 1 percent of the population. This
makes difficult, the development of out-of town shopping malls and superstores. This
also limits the ability of customers to make large purchases; while large shopping
baskets from the very essence of shopping in retail superstores.
Thus the retailers have to establish its store at the center of the town i.e. Main
markets which are very costly areas and thus add to high initial cost.
41
e) Infrastructure
Another major bottleneck is the middle-class psychology that bigger and brighter
sales outlets automatically translate to higher prices. While this is partially a myth;
unlike the retail stores in the west, this is yet to be proven wrong in India. The local
grocer still continues to be cheaper than the large supermarkets.
g) Large-scale diversity
India is a large country with a wide diversity in language, culture, religion etc. The
preferences of people evening neighboring town/cities may vary significantly. This
difference in life-styles and preferences also exist between neighborhoods within the
same town. This diversity increases dependence on local suppliers for goods to
match the preferences of the local customers, while hindering large-scale purchases
from consolidated sources. The above drawbacks, while discouraging setting up of
large retail chains, also presents a unique opportunity to international and/or
professionally managed Indian corporations to pioneer a currently non-existent
modem retailing industry in India, and subsequently benefit from it.
h) Timing
Another major pitfall for the retail Industry is Timings. According to shop Act, each
shop has to keep a day of as per Market Norms and also we are require to work
strictly under 9A.M to 8 P.M norm.
This restriction does not allow the retailer to draft the suitable time as per the
consumer as they would prefer to shop on Sundays and also late hours
42
FACTORS THAT WOULD LEAD TO GROWTH IN RETAIL SECTOR
Rethinking on existing Real estate laws (like governmental plans for ULCA).
Restructuring in Tax regime (like uniform sales tax for all states).
43
GUIDELINE FOR ESTABLISHING A NEW RETAIL BUSINESS
In a bid to provide a guideline to those who might be considering starting a new retail
business, we present a checklist to be followed by them:
C. Financial Plan
Decide the level of funds you will need to get started and to get through the
first year and where they will come from.
Determine the first year profit and return on investment.
Project monthly cash flow and profit-and-loss statements for the first two
years
Find out the amount of sales needed to breakeven in the time you stipulate.
Decide upon the contingency plan if these sales are not reached in the
specified time period.
Describe your personnel plan (hats to wear), organizational plan and policies.
Outline your inventory and accounting systems.
Note your insurance plans.
44
Specify how day-to-day operations would be conducted for each aspect of
yow strategy. Lay down clearly the do's and don'ts for each aspect.
Review the risks you face and how you plan to cope with them.
FDI IN RETAILING
Indian retail trade is of enormous size ($180 billion), nearly 10 per cent of GDP,
employing 21 million persons, which is about 7 per cent of the labour force. It is six
times bigger than Thailand and five times larger than South Korea and Taiwan.
China's retail trade is 8 per cent of GDP and 6 per cent of employment. But the trade
in India is fragmented, unorganized, un-networked, and individually small.
The 12 million kirana shops are mostly family or 'ma-pa' owned, with little capital for
expansion or credit to receive or to extend to consumers. About 96 per cent of these
shops have 500 sq ft or less of space with limited stock or choice to offer. During all
these years, instead of shedding tears for indigenous trade and resisting FDI, had
the government declared it an industry, it would done the trade a world of good
Modern retailing is designed not only to provide consumers with a wide variety of
products under one roof, but also of assured home delivery and information
feedback between consumers and producers. A modem retail outlet will also make it
easy to buy on credit and provide for servicing and repair of products sold. With IT
application, the modem retail store can cut transaction costs such as due to
inventory, delivery and handling. That is precisely how the US based Wal-Mart grew
to be a giant because it reduced its distribution costs to 3 per cent of sales compared
to 4.5 per cent of others.
Wal-Mart had entered the Chinese market a few years ago (in 1996). Now it wants
to enter India and bring FDI to set itself up to network. India is today the only major
economy that still does not permit FDI in retail trade. In China, 35 of the world's top
70 retailers have already entered and set up business. They have helped in boosting
their exports. Wal-Mart alone exported in 2002 about $12 billion worth of goods.
These retailers source their goods from inside China.
India is targeting for its GDP to grow by 8 to 10 per cent per year. This requires
raising the rate of investment as well as generating demand for the increased goods
and services produced. Exports are one way of generating that demand.
Encouraging private consumption expenditure is another way. Both these can be
facilitated by allowing market-savvy, market-intelligent and best management
practices, through corporations such as Wal-Mart, Carrefour, Ahold, JC Penny to
enter India.
45
These retail giant houses can bring their better managerial practices and IT-friendly
techniques to cut wastage and set up integrated supply chains to gradually replace
the presented disorganized and fragmented retail market. As India's urbanization grows,
these modem food delivery systems are required. Foreign companies want to come
in, and we need their money and techniques to prepare our transition to the
inevitable globalised market of the future.
The status of organized retailing in some South East Asian countries that allowed
FDI in retailing has been given in below:-
In view of the demands made by industry and the need to boost the retail trade, the
Government is actively considering removing the restrictions. A recent note
circulated by the Ministry of Commerce has proposed permission for FDI up to 100
per cent in retail trade subject to Government approval on a case-to-case basis.
However, this permission, if it is given, will be with lots of strings attached. Besides
following rules on minimum capitalization, the foreign entrants will be expected to
neutralize the outflow of foreign exchange (repatriation of dividends) by way of
export earnings on a year-to-year basis.
FDI in retail sector has been a key driver of productivity growth in Brazil, Poland and
Thailand. This has resulted in lower prices to the consumer, more consumption and
higher profit for the producer. FDI in retail trade has forced the wholesalers and food
processors to improve, raised exports, and triggered growth by outsourcing supplies
domestically. The availability of standardized products has also boosted tourism in
these countries.
The biggest opposition to allowing l00% FDI is the feared exit of the small retailers.
Currently, moves are on to counter these apprehensions and the players are keenly
awaiting the final decision from the Government.
46
&
47
Pantaloon Retail (India) Ltd. The Company's principal activity is to operate chain
retails stores in names of Big Bazaar, Food Bazaar, Central and Pantaloons. The Big
Bazaar is the discount store which offers a wide range of products under one roof.
The products include apparels and non-apparels such as utensils, sports goods and
footwear. The Company also has its presence into gold retailing by launching Gold
Bazaar. The Company's Food Bazaar provides a range of food and grocery products
ranging from fresh fruits and vegetables, staples, FMCG products and ready-to-cook
products. The Central offers a chain of stores including books and music stores,
global brands in fashion, sports and lifestyle accessories grocery store and
restaurants. The Pantaloon retail stores focus largely apparels and accessories.
Pantaloon is the company's departmental store and part of life style retail format. In
fact, PRIL took its very initial steps in the retail journey by setting up the first
Pantaloon store in Kolkata in 1997. ln a short time Pantaloon has been able to carve
a special place for it self in the hearts and minds of the aspirational Indian
customers. The company has depth of offering for both men and women at
affordable prices. A striking characteristic of Pantaloon has been the strength of its
private label programme. John Miller, Ajile. Scottsvile, Lombard Annabelle is some of
the successful brands created by the company. With13 stores across the country
and an ever-increasing stable of private brands, Pantaloon - in the coming years is
poised to become a leading fashion trendsetter .
Food Bazaar's core concept is to create a blend of a typical Indian Bazaar and
International supermarket atmosphere with the objective of giving the customer all
the advantages of Quality, Range and Price associated with large format stores and
also the comfort to See Touch and Feel the products. The company has recently
launched an aggressive private label programme with its own brands of tea, salt,
spices, pulses, jams, ketchups etc. With unbeatable prices and vast variety (there
are 42 varieties of rice on sale), Food Bazaar has proved to be a hit with customers
all over the country.
Big bazaar is the company's foray into the world of hypermarket discount stores, the
first of its kind in India. Price and the wide array of products are the USP's in Big
48
Bazaar. Close to two lakh products are available under one roof at prices lower by 2
to 60 per cent over the corresponding market prices. The high quality of service,
good ambience, implicit guarantees and continuous discount programmes have
helped in changing the face of the Indian retailing industry. A leading foreign broking
house compared the rush at Big Bazaar to that of a local suburban train.
At Big Bazaar, you will get: A wide range of products at 6 - 60 % lower than the
corresponding market price, coupled with an international shopping experience.
Big Bazaar is both big and a bazaar. It is unlike, say, a Wal-Mart or even a Food
world. Big Bazaar is almost an aircon8itioned version of any Indian bazaar. It is a
slightly orderly and organized version of, say Chickpet for Bangalore guys or Dadar
for Mumbaiites. There is a huge crowd which can move in almost any direction. You
can buy anything (pretty much everything is available at Big Bazaar). It is not a place
where you can browse through at leisure and pick up a few things here and there.
This is a place if you are serious about your shopping.
Life at Big Bazaar is pretty self-sufficient. If you were trapped in there for a week, you
could live a good life. But to appreciate the nuances of home economics, one should
try comparing prices. The clothes especially deserve an independent feature of their
own.
Particularly designed for the regular middle-class family that requires clothing that
lasts and doesn’t burn holes into the pockets of existing clothing, this store offers
good bargains. What you won't get here is designs your friends will drool over.
Checks and stripes are like the far end of the creative exercise here, and the best
bet for the fashion conscious would be the plain colors on display.
49
Choice is one factor that suffers here, as there is immense quantity but hardly any
variety. If you want to clothe an entire troupe of extras in executive stuff for a dance
number, this is the place! You get hordes of stuff, but it's all the same. If you are
looking for anything in particular, then this is really not such a hot place.
The accessories are good, though predictable. Brands make an appearance here as
watches of Casio and Titan are displayed, and the prices range from 300 to some
really heart-in-mouth figures
The rest of the stuff is not really very interesting as the prices are just a shade below
the MRP. Groceries, home appliances, plastic goods, luggage, stationery,
cosmetics... you name it, this place has it. Again, choice may suffer and you may not
get that particular deo of yours which has the opposite sex going randy.
There are small sub-departments for footwear, music cassettes and even
consumables. There is an in-house cafeteria that offers pretty good chow at
reasonable rates. And now that the bazaar is spread over only two floors as opposed
to the earlier four floors, I guess the intimidation factor stands reduced too.
Big Bazaar has an exchange offer where you can get rid any old item and get
yourself a new one. The offer is applicable to products like utensils, plastics,
footwear, luggage accessories, garments, toys, Watches, glass, electronics items,
and so on. Customers can get their old household items valued. Big Bazaar says it
offers better value because old, broken utensils and plastics can be exchanged for
as much as Rs. 40 a kilo.
What is more, consumers need not exchange their old items for similar items. They
can bring in an old piece of luggage and walk off with a salwar kameez instead.
Similarly, old shoes and can exchanged for an electric rice cooker.
Food Bazaar had announced a special shopping offer which attracted around 20,000
shoppers. On a normal day, Center One's. Food Bazaar has 10 security guards.
However, on July 26 the management had to call in around 30 guards on special
duty.
In the last week of February 2006, Big Bazaar, through a television commercial,
announced an exchange offer in which customer can bring junk and get discount on
certain items.
January, the bazaar had offered massive discount on a particular day called Sabse
Sasta Din. "About 2 million people showed up that day, which is almost four
times than those visited the shop on Sunday before Diwali.
Meanwhile, sales at Big Bazaar have been growing steadily. In January 2005 the
sales were of Rs 56.21 crore but in January 2006, it rose to Rs 129.61 crore.
50
SWOT Analysis Of Big Baazar
Strengths
Weaknesses
Opportunity
In India Retailing is still a new concept. Hence there is still much of untapped
market left out.
Threat
Many new retailers are coming up. Retailers like Subhiksha are
adopting the same pattern of Big Baazar. Therefore Big Baazar will
have a stiff competition from its competitors like Subhiksha, Vishal
Mega Mart etc.
51
What started as a humble one store enterprise
in 1986 in Kolkata(erstwhile, Calcutta) is today
a conglomerate encompassing 46 showrooms
in 34 cities. India’s first hyper-market has also
been opened for the Indian consumer by
Vishal. Situated in the national capital Delhi
this store boasts of the singe largest collection
of goods and commodities sold under one roof
in India.
The Group has a turnover of Rs 150 crore for 2004-05. Under the dynamic
leadership of Mr. Ram Chandra Agarwal the group is expecting to touch the
turnover of Rs 300 crore by the end of March 2006 and Rs 650 crore for the
period2006-07.
The group’s prime focus is on retailing. The Vishal stores offer affordable
family fashion at prices to suit every pocket.
The group’s philosophy is integration and towards this end has initiated
backward integration in the field of high fashion by setting up a state of the art
manufacturing facility to support its retail endeavors.
Vishal is one of fastest growing retailing groups in India. Its outlets cater to
almost all price ranges. The showrooms have over 70,00 products range
which fulfills all your household needs, and can be catered to under one roof.
It is covering more than 11 Lacs of sq. ft. in retail space and more than 5 Lacs
sq.ft. under construction. Each store gives you international quality goods and
prices hard to match. The cost benefits that is derived from the large central
purchase of goods and services is passed on to the consumer.
The Founders
52
Mr.
Ramchandra
Aggarwal
53
Products Available At Vishal Mega Mart
54
Vishal Mega Mart inks pact with SBI for co-branded card
SBI Card announced the launch of its co-branded card in association with retail
chain Vishal Mega Mart to tap the booming organized retail market.
``SBI Vishal Mega Mart Card is one of the best co-branded credit card that offers
reward points and other benefits to frequent shoppers and would be free for those
who spend above Rs 7,500 per annum,'' SBI Card CEO, Mr Roopam Asthana, said.
55
``By partnering with the SBI Card, we are not just offering customers a convenient
payment mechanism but a unique consumer loyalty programme that rewards them
every time they shop,'' Vishal Retail Managing Director, Mr Ram Chandra Agarwal,
said.
Some of the features of the co-branded card include Rs 250 discount voucher
on signing up for the card and a process by which the cardholder earns five
reward points on every Rs 100 spent.
The retail chain has been planning to expand its number of stores. "We intend to
open around 40 stores by the next year," Mr Agarwal said. The company is also
planning an initial public offer to raise Rs 125 to Rs 150 crore. Mr Agarwal said, "The
company has appointed merchant banker Enam Financial Services to advise it on
the proposed issue that is due in four to six months."
The retail store has posted a turnover of Rs 150 crore in 2004-05 and
expects the figure to cross Rs 300 crore in 2005-06.
Strengths
Prime location
Large floor space allowing for better visual merchandising
Large area also allows to stock a large variety of products under one roof
Financial backing
Highly trained and motivated sales force.
Brand equity
56
Large scale operations in various cities throughout the country allows them to
reap the benefits of "economies of scale"
Weaknesses
Large scale of operations sometimes acts as a barrier to personalized
customer relations
Large scale operations lead to reduced flexibility by increasing the amount
of overheads and a huge commitment in terms of fixed costs
A large organization structure leads to delayed decisions. This can prove
fatal for a business in the dynamic fashion industry. Vishal Mega Mart has
a centralized purchasing department in Delhi, this fact sometimes results
in delayed decisions in adapting to changing market tends
Opportunity
Apart from the metro cities, cities like Ahmedabad, Pune, Lucknow, Indore
and Coimbatore have shown substantial retail presence. These markets are
expected to show exponential growth in the next few years. Thus Shoppers
Stop has the opportunity to explore new markets
According to the Consumer Outlook study, consumers are generally satisfied
with the service that organized retailers extend to them. More importantly,
they are increasingly regarding these organized retailers as providing 'value-
for-money', These findings indicate that large retailers will capture most of the
higher consumer spending.
Increasing penetration of the Internet into Indian homes has provided Vishal
Mega Mart to break the geographical barriers and to increase their customer
base. The entry into online retailing, would, in fact, expand the product
categories available to the consumer. The choices open to the consumer
would not be restricted to those available in Vishal Mega Mart.
Threat
The time when retailers had to worry about competition only from their peers down the
street has come to an end, Vishal Mega Mart is now facing increased competition in the
form of international retail chains that are making a beeline towards the highly potential
Indian markets. Moreover many big Indian business houses are also trying a space in the
Indian retail scene.
57
2. Finally to relate the above findings so as to get a comprehensive
picture of where the retail store is today and where it is headed
RESEARCH METHODOLOGY
Sources of data:
Sample size:
Sample Chosen:
58
AN OVERVIEW
59
The total sample for the survey was 75 across the city of Delhi. The response
was as follows:-
SEX RATIO
INTERPRETATION
The study clearly shows that the sample taken were most of them were Male.
Age Group
60
Age Total No. Of Vishal Mega Big
Group Respondents Mart Baazar
15-25 24 16 8
25-35 20 13 7
35-45 15 6 9
Above 45 16 6 10
16
14
12
10
8 Vishal Mega Mart
6 Big Baazar
4
2
0
15-25 25-35 35-45 Above 45
INTERPRETATION
From the above bar graph it is clear that Vishal Mega Mart caters to the needs
of younger part of consumers that is between 15-25 yrs & 25-35 yrs, whereas
Big Baazar caters to the needs of the elder part of the consumers that is above
35 yrs.
61
AVERAGE MONTHLY INCOME
Monthly Income
Monthly Income
13% 7% Below 10,000
Monthly Income
10,000-20,000
Monthly income
33% 47% 20,000-30,000
Monthly Income
Above 30,000
INTERPRETATION
The survey clearly shows that there are more number of people in the income
group of Rs. 10,000 to Rs. 20,000 as compared to the other groups of income.
Hence it clearly shows that both the retail stores cater to the needs of the
middle class segment as compared to the other class of segment
62
PREFERENCE OF SHOPPING
Interpretation
It is clear from the above pie chart that out of 75 consumers surveyed Big
Baazar caters to more consumers & hence is more popular as compared to
Vishal Mega Mart & other retail stores.
63
FREQUENCY OF VISIT
Once in two 5 6 -
months
Once a month 7 12 -
Twice a month 3 9 -
Once a week or 1 3 -
more
Interpretation
The above diagram clearly shows that consumers visited the retail store at
least once a month. Otherwise they had their own pattern of visits. This means
that they do not have any particular pattern to follow but they visited the retail
store according to their own choice.
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Type of Visit
No. Of Respondents
Alone 11
With Family 23
With Friends 41
Interpretation
Consumers visited the retail stores mostly with their friends. Then the second
was with their family members & then alone.
65
Retail outlet for purchasing.
45 43.24
40
35 33.33
30 29.16
25 25
21.62
20 Vishal Mega Mart
16.21
15 12.5 Big Bazzar
10 8.1
5
0
Most Of Quiet Sometimes Rarely
The Time Often
Interpretation
We can clearly observe that Big Baazar was more effective in delivering the
goods as when a consumer entered the Big Baazar retail store 43.24 % of the
37 consumers surveyed, bought some or the other commodity as compared to
Vishal Mega Mart where it was 33.33% only.
Time of Visit
66
Time of visit Vishal In % Big Bazaar In % Others
Mega Mart (37) (14)
(24)
7PM-10PM 6 25 10 27.02 -
27.02
7 PM-10 PM 25
43.24
04 PM-07PM 41.66
Big Baazar
16.21
01 PM -04 PM 20.83 Vishal Mega Mart
13.51
10 AM - 01 PM 12.5
0 10 20 30 40 50
Interpretation
It is quiet clear from the above graph that the retail stores had sales more in
evening and that too in 4 PM- 7 PM slot & the second being 7 PM- 10 PM. Big
Baazar attracted 43.24 % of consumers & Vishal Mega Mart attracted 41.66 %
of consumers in 4 PM – 7 PM of slot time.
67
Amount Of Vishal In % Big Bazaar In % Others
Money Mega Mart (37) (14)
Spent. (24)
45
40
35
30
25
20
Vishal Mega Mart
15
Big Bazaar
10
5
0
Less 1000- 2000- 3000- Above
than 2000 3000 4000 4000
1000
Interpretation
The money spend by the consumer when he or she visited Vishal Mega Mart
was between the slot of 1000 to 2000 whereas in the case of Big Baazar it was
between the slot of les than 1000.
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(24)
Apparels 8 33.33 3 8.108
Accessories 6 25 3 8.108
Utility 4 16.66 4 10.81
Grocery 2 8.33 13 35.13
Cosmetics 3 12.5 8 21.62
Consumer 1 4.16 6 16.21
Durables
Big Bazaar
Vishal Mega
Mart
Cosmetics
Utility
Apparels
0 5 10 15 20 25 30 35 40
Interpretation
The above graph states that Big Baazar had 35.13% of income from the sale of
grocery whereas Vishal Mega Mart has major portion of income from the sale
of apparels which is 33.33 %.Hence both the above retail store deal to the
different category of customers.
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Various Vishal Big
Parameters Mega Baazar
Mart
Attractive 30 45
Discount,schem
es
Display 42 33
Location 36 39
Parking space 44 31
Ambience 38 37
Sales Personnel 37 38
Membership 43 32
privilege
Returns & 39 36
exchanges
High quality 35 40
merchandise
Layout of store 38 37
Reasonable 31 44
price for its
merchandise
Store’s 37 38
operating hours
70
50
40
30
20 Vishal Mega Mart
10 Big Bazaar
0
Attract. Location Am bience
Dis. &
Sch.
50
40
30
Interpretation
On the basis of the above parameters when a comparison was done between
Vishal Mega Mart & Big Baazar, it was found that big Baazar was more popular
for its schemes and discount offers whereas Vishal Mega Mart was more
popular for its parking space and its display of its products.
Survey discussion
71
Findings in Vishal Mega Mart: -
Consumers in Vishal Mega Mart were mostly in the age group of 15 – 25 yrs and 25
- 35. The sales of the retail store were mainly from apparel. The average spending
was in the store between Rs 1000 – 2000.The store had maximum sales between
the time slot of 4 PM to 7 PM.
Consumers usually spend their money on Apparels accessories and utility items.
2. Consumers in the store come to the store either once in a month or once in
two months.
3. The best features that were liked by the consumers was its Display, parking
space and its membership. For example features that were liked the consumers
was its Display, parking space and its membership. For example the recently
launches membership scheme in collaboration with SBI Bank..
Consumers in Big Baazar were mostly in the age group among 35- 45 and 45
years and above. The sales of the retail store are from grocery, cosmetics and
consumer durables. The average spending was less than Rs 1,000.The store had
maximum sales between the time slot of 4 PM to 7 PM.
The best features that were liked by the consumers were its attractive discount
schemes and other schemes (like ifs exchange schemes etc.), reasonable price for
its merchandise and its location.
Consumers in the store come to the store either once in a month or twice in a
month.
72
RECOMMENDATIONS
73
In case of Vishal Mega Mart store experience is at the satisfactory level and
the communication is also good, whereas Big Baazar was lacking in post
purchase experience. Hence it should pay special attention on the consumers
post purchase experience.
The retailer should take care of all the activities in a retail store right from
speed of the checkout process, availability of information, friendliness of the
staff, availability of products on the shelf, ability to handle special orders and
special needs, hours of operation.
Parking space is an extremely important factor for the respondents that make
them choose the right retail store. This could be well understood as we see
that most of the shoppers like to visit with their family or friends for whom they
require four wheelers. There is a genuine lack of parking space across the
cities making the task of parking an arduous one. If this space is not there,
then it can act as an impediment against the retail outlets.
Retail stores like Vishal Mega Mart and Big Baazar caters to the needs of the
middle class of the segments .Hence they should now start focusing on the
other segments of the society.
74
store to harness other sources of advertising. To create the impression of
Experience, Value for money and merchandise these store have to firstly
work on the merchandise and secondly promote the quality goods. Each
section should be considered as an autonomous unit i.e. every department
should have a specialist responsible for the purchasing of goods and quality
control. Then an advertising strategy should be drafted which connects all
the departments and creates the need in the minds of the customer to shop
at Retail Stores.
Conclusion
75
have more than 100 operational malls. According to Cushman &
Wakefield Retail Research estimate, approximately 70 million square
feet of retail space is under development, of which 41 million square
feet happens to be in seven major cities (Mumbai, Delhi, Bangalore,
Chennai, Hyderabad, Pune and Ahmedabad).
76
Favorable demographic and psychographic changes relating to India's
consumer class, international exposure, availability of increasing quality retail
space, wider availability of products and brand communication are some of
the factors that are driving the retail in India. Over the last few years, many
international retailers have entered the Indian market on the strength of rising
affluence levels of the young Indian population along with the heightened
awareness of global brands and international shopping experiences and the
increased availability of retail real estate pace.
77
have to face increasingly demanding customers and intensely
competitive rivals, more investments will keep flowing in and the
share of organized sector will grow rapidly.
Organized retailing in India is surely poised for a takeoff and will
provide many opportunities both to existing players as well as new
entrants.
Analysts have compared the socio-economic changes in India to the ones that
occurred in the US and they argue that the way malls and big retailers
became a common phenomenon in the US the same would happen in India.
The fact however remains that while the socio-economic changes have taken
time to trickle down the technological changes especially in terms of internet
etc. have been faster, which therefore may lead to a totally new scenario in
India.
78
QUESTIONNAIRE
Dear Sir/Madam,
79
I am currently engaged in a study on “Comparative study on Vishal
Mega Mart & Big Bazaar”. In this connection I request you to read the following
items carefully & answer them .The answers you give will be held confidential & used
purely for academic purposes.
1.) Name:-
Once a month
Twice a month
80
Frequency Vishal Mega Mart Big Bazaar
Quiet often
Sometimes
Rarely
Never
9.) What are the timings during which you usually make these visits?
10AM-12 PM
12 PM-3 PM
3 PM-6PM
9PM-11PM
10.) How much do you usually spend while shopping in the retail outlet?
1000- 2000
2000- 3000
3000-4000
Above 4000
11.) What do you generally purchase from the particular retail outlet?
81
Mart
Big
Bazaar
B.) Please rate the factors given below that influence your visit to at the
retail outlet.
BOOKS
82
Fundamental of Marketing; William J. Stanton
MAGAZINE
JOURNAL
Times Of India
WEBSITES
www.google.com
www.businessworld.com
www.vishalmegamart.net
www. bigbazaar.com
www.retailindustry.com
www.knowthis.com
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