Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
1
Chapter-1
Introduction & Review of Literature
2
Introduction
Retailing is one of the oldest businesses that human civilization has known. It acts as an interface betwee...
3
Fifteen years ago, global retailers in developing markets were true pioneers: either they held the deed to a
beautiful t...
4
however with the tastes and preferences of the consumers, the industry is getting more popular these days
and getting or...
5
were DCM group & Bata. Titan came with an organized retail concept and establishes number of showroom
for premium watche...
6
Growth in Indian Retail Sector
The Indian Retail sector has come off age and has gone through major transformation over ...
7
Retail industry can be broadly classified into two categories namely- organised and unorganised retail.
Organized retail...
8
6. Demand as well as increase in expenditure for luxury items
7. Growing preference for branded products and higher aspi...
9
Within retail, the emerging sectors would be food and grocery, apparel, electronics, e-commerce, fashion
and lifestyle. ...
10
Pantaloons:
Pantaloons Fashion & Retail Limited is an Indian premium clothing retail chain. The first Pantaloons store
...
11
Future Group is an Indian private conglomerate, headquartered in Mumbai. The company is known for
having a significant ...
12
2. Specialty Stores
3. Discount Stores
4. Department Stores
5. Hyper marts / Supermarkets
6. Convenience Store
7. MBO’s...
13
MBO’s: Multi Brand outlets, also known as Category Killers, offer several brands across a single product
category. Thes...
14
bubble burst in the early 2000s - stands as testament to the limitations of e-tailing in the early days of the
Internet...
15
Review of literature
In the present day’s retail business, ensuring customer satisfaction in delivering the right produ...
16
between consumer satisfaction and sales performance, in the retail sector of India. The study relies upon an
extensive ...
17
Measuring customer satisfaction
Organizations need to retain existing customers while targeting non-customers; Measurin...
18
American Customer Satisfaction Index (ACSI) is a scientific standard of customer satisfaction. Academic
research has sh...
19
Published standards exist to help organizations develop their current levels of customer satisfaction. The
Internationa...
20
2. Determining how well your company and its competitors are satisfying these expectations and
requirements
3.Developin...
21
Chapter 2
Research Methodology
22
Research methodology
Objectives of the Study
1) To identify the determinants of customer satisfaction in the retail out...
23
It is the most commonly used methods especially in studies relating to behavioural sciences. This method
implies the co...
24
The sample was taken from Patia Big Bazaar Bhubaneswar. The sample size designed for this project is 100
keeping in min...
25
Chapter-3
Result/Analysis of the work
26
Analysis:
Table I. Demographic Profiles of Respondents
Demographic
Group
Demographic Sub-
Group
Number Percentage (%)
A...
27
1. Number respondents based on Age
Interpretation:
From the above pie chart it reveals 62% respondents are in the age g...
28
2. No of respondents based on sex
Sex Total Percentage
male 45 45
female 55 55
Total 100 100
Interpretation:
From gende...
29
3. Number of respondents based on Monthly income
Monthly Income Percentage
Below 10000 62
10000-20000 11
20000-40000 16...
30
4. Number of respondents based on Martial Status
Status
Married 35
Single 65
Interpretation:
35% respondents are marrie...
31
5. Number of respondents based on occupation
Occupation Percentage
Student 48
Housewife 4
Service 21
Professional 14
Se...
32
6. How frequently do you visit Big Bazaar?
frequency of visit
gender of respondents
Totalmale Male% Female
Female%
freq...
33
7. Availability of employee availability you needed at big bazaar
employee availability
gender of respondents
Totalmale...
34
8. Politeness of employee
politeness of employee
gender of respondents
Totalmale Male% female
female%
politeness of emp...
35
9. Knowledge of employee.
knowledge of employee
gender of respondents
Totalmale
male%
female female%
knowledge of emplo...
36
10. Ease of finding layout
ease of finding layout
gender of respondents
Totalmale male% female
female%
ease of finding ...
37
11. Shopping Atmosphere in the store
shopping atmosphere
gender of respondents
Totalmale male% female
female%
shopping ...
38
12. Number of checkout point
no of checkout point
gender of respondents
Totalmale male% female
female%
no of checkout p...
39
13. Exchange facility
exchange facility
gender of respondents
Totalmale Male% female
Female%
exchange facility Verymuch...
40
14. Overall satisfaction level
overall satisfaction
gender of respondents
Totalmale Male% female
Female%
overall very s...
41
15. Probability of Revisit.
probability of revisit
gender of respondents
Totalmale Male% female
Female%
probability of ...
42
Chi Square
Null Hypothesis 1: There is not much influence of customer satisfaction in case of re visit.
Alternate Hypot...
43
Test Statistics
no of checkout
point
probability of
revisit
Chi-Square 44.200a
23.120b
df 4 3
Asymp. Sig. .000 .000
a. ...
44
The study is an attempt to understand the customer satisfaction at Big Bazaar, Patia Bhubaneswar.
Summary of Findings
1...
45
dissatisfied with the no. of checkout points and 5% respondents are very dissatisfied with the no. of checkout
points.
...
46
Chapter-4
Conclusion and Recommendation
47
Conclusion:
As a matter of fact, this on the job training was fruitful for me as I learnt many management skills practi...
48
Recommendation
The following recommendations are made for the better performance of Big Bazaar, Patia (Bhubaneswar)
1. ...
49
BIBLIOGRAPHY
Websites
 www.Futurebazaar.com
 www.Google.com
 www.Wikipedia.com
 www.bigbazaar.com
 www.managementp...
50
Annexure
Questionnaire
This survey is designed to know the response about customer satisfaction at Big Bazaar. Kindly s...
51
10. How are the employee’s interaction at big bazaar?
Very much Yes Some what No Not at all
Available when
You needed?
...
52
[ ] Very satisfied [ ] Satisfied [ ] Neutral [ ] Dissatisfied [ ]
Very dissatisfied
15. How likely are you want to visi...
53
Company Profile
Future Group:
Future Group is an Indian private conglomerate, headquartered in Mumbai. The company is k...
54
outlet stores chain, Brand Factory, sportswear chain, Planet Sports, home improvement and consumer
durables chain, Home...
55
Future Lifestyle Fashion Ltd
1. Central
2. Brand Factory
3. Planet Sports
Fashion and Lifestyle
1. Indigo Nation
2. Scu...
56
2002:
Food Bazaar, the supermarket chain is launched.
2004:
Future Group launches India's first seamless mall, Central,...
57
up with IGNOU.Future Group partners with Hong Kong-based Li & Fung Group to strengthen its supply
chain and logistics n...
58
Nagpur. Big Bazaar introduced a unique customer membership program 'Big Bazaar Profit Club. ‘Foodhall,
the premium life...
59
History
Big Bazaar was launched in September, 2001 with the opening of its first four stores in Calcutta, Indore,
Banga...
60
Operations
Most Big Bazaar stores are multi-level and are located in stand-alone buildings in city centers as well as
w...
61
 Launches a unique shopping program: the Big Bazaar Exchange Offer, inviting customers to
exchange household junk at B...
62
 Big Bazaar captures almost one-third share in food and grocery products sold through modern retail
in India Mahendra ...
63
 Big Bazaar is planning to add further value to its retail services by offering Value added services like
grinding, de...
Upcoming SlideShare
Loading in …5
×

A STUDY ON CUSTOMER SATISFACTION AT BIG BAZAAR (PATIA, BBSR)

  • Login to see the comments

A STUDY ON CUSTOMER SATISFACTION AT BIG BAZAAR (PATIA, BBSR)

  1. 1. 1 Chapter-1 Introduction & Review of Literature
  2. 2. 2 Introduction Retailing is one of the oldest businesses that human civilization has known. It acts as an interface between the producer and consumer, improves the flow of goods and services and raises the efficiency of distribution in an economy. For a strong, stable and consistently growing economy, a well-organized and efficient retail sector is a must. Most of the developed and even emerging economies had adopted the organized retail long ago and percentage share of organized retail in total retailing has increased over the years. However, India, a land of self-sufficient villages, has continued to rely primarily on small, close to home shops. It is only off- late with pick-up in pace of urbanization and rising disposable incomes that the country started to take a few steps towards the organized retailing. A good progress has been made in the last few years, and the retail industry is off late being hailed as one of the sunrise sectors in the economy. Interestingly, for many years, retailers have been administering surveys to their customers to measure both their overall level of satisfaction and their opinion of various details of their store experience, service and merchandise provided at organized retail outlets but they are not able to retain all their customers by providing solutions to them. Satisfying customers is one of the main objectives of every business. Businesses recognize that retaining the existing customers is more profitable than having to win the new ones to replace those lost. Management and marketing theorists underscore the importance of customer satisfaction for a business’s success. Customer satisfaction is the key factor in knowing the success of any retail store or business; therefore it is very important to measure it and to find the factors that affect the customer satisfaction. Customers are most likely to appreciate the goods and services they buy, provided if they are made to feel special. This occurs when they feel that the goods and services that they buy have been specially produced for them or for people like them. It should be always keep measuring in order to get feedback for the products and services in order to develop it further with wide customization. Customer satisfaction levels can be measured using survey techniques and questionnaires. Gaining high levels of customer satisfaction is very important to a business because satisfied customers are most likely to be loyal, place repeated orders and use a wide range of services offered by a business. Over the last decade, organizations of all types and sizes have increasingly come to understand the importance of customer satisfaction. It is widely understood that it is far less costly to keep existing customers than it is to win new ones. Tse and Wilton (1988) state that customer satisfaction is, “the consumer’s response to the evaluation of the perceived discrepancy between prior expectations and the actual performance of the product as perceived after its consumption.” Westbrook and Reilly (1983) have noted that “an emotional response to the experiences provided by, associated with particular products or services purchased, retail outlets, or even molar patterns of behaviour such as shopping and buyer behaviour, as well as the overall marketplace.
  3. 3. 3 Fifteen years ago, global retailers in developing markets were true pioneers: either they held the deed to a beautiful tract of land and a future of growth, or their best-laid plans moldered in a foreign grave. It was a true risk-reward play: global expansion could bring tremendous growth and benefit, or surprising failure and disaster. Today’s global retailers get it. They have become more strategic in their expansion and in avoiding the operational pitfalls of entries into developing markets. Using e-commerce, they are pressure-testing demand in new markets to reduce risk, and they are taking advantage of financial vehicles such as credit cards and cash-on-delivery to help increase demand. The leaders are also identifying the unique challenges of each market, from India’s foreign direct investment policies to Brazil’s high duties to Turkey’s high credit card regulations. And even after they get a foot in the door in major metropolitan shopping districts, retailers are forced to strategize quickly to capture growth in tier 2 and 3 cities before the field becomes too crowded. The overall theme of A.T. Kearney’s 2014 Global Retail Development Index™ is continued expansion. Yes, there were some notable contractions in the past year—Walmart pruned its portfolio in China and Brazil, and Tesco’s more cautious approach to China included some store closings and a new joint venture—but for the most part retailers are continuing their push into developing markets.In particular, regional players are flexing their muscles, using their proximity as a competitive advantage to steal share in neighboring markets. Chile’s Falabella and Cencosud have begun aggressive growth plans to widen their footprint across Latin America, and UAE-based Lulu Hypermarkets and Majid Al Futtaim have begun expanding in the Gulf region. South African retailers Shoprite and Woolworths have spearheaded Sub-Saharan Africa’s shift to modern retail, with expansion into Nigeria, Botswana, and Namibia. We expect stiff competition between Western players and regional retailers to continue in developing markets. RETAIL INDUSTRY IN INDIA The Indian retail industry has presently emerged as one of the most dynamic and fast paced industries as several players have started to enter the market. It accounts for over 10 per cent of the country’s gross domestic product (GDP) and around eight per cent of the employment in India. The country is today the fifth largest global destination in the world for retail. Several corporates have planned to exploit the opportunities in the Indian retail space, such as Reliance Industries Ltd (RIL), which has lined up capital expenditure of Rs. 1.8 trillion (US$ 28.94 billion) for the next three years for its petrochemicals, telecom and retail ventures. With the growth in the retail industry, the corresponding demand for real estate is also being created. Further, with the online medium of retail gaining more and more acceptance, there is a tremendous growth opportunity for retail companies, both domestic and international. Retailing is one of the pillars of the economy in India. Over the past few years, the retail sale in India is hovering around 33-35% of GDP as compare to 20% in the US. The Indian retail industry is the fifth largest in the world. Comprising of organized and unorganized sectors, Indian retail industry is one of the fastest growing industries in India, especially over the last few years. Though initially, the retail industry in India was mostly unorganized,
  4. 4. 4 however with the tastes and preferences of the consumers, the industry is getting more popular these days and getting organized as well. Now with growing market demand, the industry is expected to grow at pace of 25-30% annually. The Indian retail industry is currently growing at a great pace and is expected to go up to US $ 1033 billion by the year 2015. In the last four years consumer spending in India has climbed up to 80%. In India though, organized retail accounts for app. 5-6% of total retail revenues, however, with a young population, increasing disposable income, changing life styles and a robust economy India is set to emerge as one of the fastest growing organized retail markets in the world. Market Size India’s retail market is expected to double to US$ 1 trillion by 2020 from US$ 600 billion in 2015 driven by income growth, urbanisation and attitudinal shifts, highlighted the Boston Consulting Group and Retailers Association of India’s report titled, ‘Retail 2020: Retrospect, Reinvent, Rewrite’. While the overall retail market will grow at 12 per cent per annum, modern trade will grow twice as fast at 20 per cent per annum, and traditional trade at 10 per cent, according to a report titled Retail 2020: Retrospect, Reinvent, Rewrite by Boston Consulting Group and Retailers Association of India. The retail spending in the top seven Indian cities of India currently amounts to Rs 3.58 trillion (US$ 57.56 billion), with organised retail penetration at 19 per cent in 2014. It is expected that the online retail will be at par with the physical stores in five years. India is expected to become the world’s fastest growing e-commerce market on the back of robust investment activity in the sector and the rapid increase in internet users. It is expected that India’s e- commerce market will grow from US$ 2.9 billion in 2013 to over US$ 100 billion by 2020.E-tailers are betting on more Indians switching to shopping online, with a projection of 200 million new consumers by 2017, according to a report released last year by Accel India. Evolution of the Indian Retail Market The journey of retail started long back through the Kirana store in India. This is first effort by local shopkeeper. The shopping centre concept comes into the existence in year 1869, with Mumbai Crawford market and Kolkata’s New Market in year1874. The underground shopping complex Palika Bazaar in New Delhi was established in the late 1970s and mini malls on the Bangalore’s Brigade Road come into existence in 1980s. Government of India entered into the rural India by franchisees called KhadiBhandar. These stores serve as outlets for products made by village industry i.e. Khadi, matchsticks, incense sticks, decorative items made from wood and earth, ahinsak (non-violent) honey, ahinsak leather items etc. The industries came in the retailing in 1980s through dealer network. In 1980s, the big group of textile industry i.e. Raymond, S.Kumar, Bombay dyeing and Grasim came with this concept of retailing. In the manufacturing sector, the pioneers
  5. 5. 5 were DCM group & Bata. Titan came with an organized retail concept and establishes number of showroom for premium watches. All the above effort for retailing came by the manufacturer. But the pure retailer approach came in the existence in 1999s with the establishment of “Ansal's Plaza” in Delhi and Crossroads in Mumbai. After the 2003, many other organizations either planning to come into the retail market through the retail store or initiated the establishment work. Retail outlets such as Food world in FMCG, Planet M and Music world in Music, Crossword in books entered the market before 1995. Shopping malls emerged in the urban areas giving a world-class experience to the customers. Eventually hypermarkets and supermarkets emerged. The evolution of the sector includes the continuous improvement in the supply chain management, distribution channels, technology, back-end operations, etc. this would finally lead to more of consolidation, mergers and acquisitions and huge investments. India's retail market is expected to grow tremendously in next few years. India shows US$330 billion retail market that is expected to grow 10% a year, with modern retailing just beginning. InIndia, the most of the retail sector is unorganized. The main challenge facing the organized sector is the competition from unorganized sector. Unorganized retailing has been there in India for centuries. The main advantage in unorganised retailing is consumer familiarity that runs from generations to generation. It is a low cost structure; they are mostly operated by owners, have very low real estate and labour costs and have low taxes to pay. Organised retail business in India is very small but has tremendous scope
  6. 6. 6 Growth in Indian Retail Sector The Indian Retail sector has come off age and has gone through major transformation over the last decade with a noticeable shift towards organised retailing. A T Kearney, a US Based global management consulting firm has ranked India as the fourth most attractive nation for retail investment among 30 flourishing markets.The retail market is expected to reach a whooping Rs. 47 lakh Crore by 2016-17, as it expands at a compounded annual growth rate of 15 per cent, according to the ‘Yes Bank - Assocham’ study. The retail market, (including organised and unorganised retail), was at Rs. 23 lakh Crore in 2011-12. According to the study, organised retail, that comprised just seven per cent of the overall retail market in 2011-12, is expected to grow at a CAGR of 24 per cent and attain 10.2 per cent share of the total retail sector by 2016-17.In terms of sheer space, the organised retail supply in 2013 was about 4.7 million square feet (sq.ft.). This showed a 78 per cent increase over the total mall supply of just 2.5 million sq.ft. in 2012. “Favourable demographics, increasing urbanisation, nuclearisation of families, rising affluence amid consumers, growing preference for branded products and higher aspirations are other factors which will drive retail consumption in India,” said DS Rawat, Assocham Secretary General. Retail classification
  7. 7. 7 Retail industry can be broadly classified into two categories namely- organised and unorganised retail. Organized retail - Organised traders/retailers, who are licensed for trading activities and registered to pay taxes to the government. Unorganized retail – It consists of unauthorized small shops - conventional Kirana shops, general stores, corner shops among various other small retail outlets - but remain as the radiating force of Indian retail industry. Market Dynamics In the past few years, Indian Retail sector has seen tremendous growth in the organised segment. Major domestic players have stepped into the retail arena with long term, ambitious plans to expand their business across verticals, cities and formats. Companies like Tata, Reliance, Adani Enterprise and Bharti have been investing considerably in the booming Indian Retail market. Along with these giant retailers, a number of transnational brands have also entered into the market to set up retail chains in close association with bigger Indian companies. High consumer spending over the years by the young population (more than 31% of the country is below 14 years) and sharp rise in disposable income are driving the Indian organised retail sector’s growth. Even Tier I & Tier II cities and towns are witnessing a major shift in consumer preferences and lifestyles, the result of which, they have emerged as attractive markets for retailers to expand their presence. The Indian retail sector is highly fragmented and the unorganised sector has around 13 million retail outlets that account for around 95-96% of the total Indian retail industry. However, going forward, the organised sector’s growth potential is expected to increase due to globalisation, high economic growth, and improved lifestyle. Although the growth potential in the sector is immense, there are obstacles too, that could slow the pace of growth for new entrants. Rigid regulations, high personnel costs, real estate costs, lack of basic infrastructure, and highly competitive domestic retailer groups are some such challenges. Key drivers of the Indian Retail Industry 1. Emergence of nuclear families 2. An increase in the double-income household’s trend 3. Large working population 4. Reasonable Real estate prices 5. Increase in disposable income and customer aspiration
  8. 8. 8 6. Demand as well as increase in expenditure for luxury items 7. Growing preference for branded products and higher aspirations 8. Growing liberalization of the FDI policy in the past decade 9. Increasing urbanisation, 10. Rising affluence amid consumers Bottlenecks 1. A long way to meet international standards 2. Lack of efficient supply-chain management 3. Lack of required retail space 4. No fixed consumption pattern 5. Shortage of trained manpower 6. Lack of proper infrastructure and distribution channel Emerging sectors/trends in Indian retailing
  9. 9. 9 Within retail, the emerging sectors would be food and grocery, apparel, electronics, e-commerce, fashion and lifestyle. Incorporation of technology in the organised retail segment has been something to reckon with in the past few years. Use of computers for merchandise planning and management, control of inventory costs and supplies and replenishment of goods done electronically, internal store billing, etc. has changed the face of product retailing. Online retail business is the next gen format which has high potential for growth in the near future. After conquering physical stores, retailers are now foraying into the domain of e-retailing. The retail industry is all set to test waters over the online medium, by selling products through websites. Food and grocery stores comprises the largest chunk of the Indian retail market. An emerging trend in this segment is the virtual formats where customer orders are taken online through web portals which are delivered at the door step the very same day or the following day. This trend has been catching up with most of the large sized retail chains that have their websites. The Road Ahead… According to panel members at the seventh Food and Grocery Forum India, the opportunities in food and grocery retail in India are immense, given that it constitutes about 69 per cent of India’s total retail market. The Indian retail market, currently estimated at $490 billion, is project to grow at a compounded annual growth rate of 6 per cent to reach $865 billion by 2023. Modern retail with a penetration of only 5% is expected to grow about six times from the current 27 billion USD to 220 billion USD, across all categories and segments. Organised Retail is emerging as the new phenomenon in India and despite the slump, the market is growing exponentially. As economic growth brings more of India’s people into the consuming classes and organized retail lures more and more existing shoppers, by 2015, more than 300 million shoppers are likely to patronize organized retail chains. Consumer markets in emerging market economies like India are growing rapidly owing to robust economic growth. India's modern consumption level is set to double within five years to US$ 1.5 trillion from the present level of US$ 750 billion. The growing middle class is an important factor contributing to the growth of retail in India. By 2030, it is estimated that 91 million households will be ‘middle class’, up from 21 million today. Also by 2030, 570 million people are expected to live in cities, nearly twice the population of the United States today. Thus, with tremendous potential and huge population, India is set for high growth in consumer expenditure. With India's large ‘young’ population and high domestic consumption, the macro trends for the sector look favourable. Major Retailers in India:
  10. 10. 10 Pantaloons: Pantaloons Fashion & Retail Limited is an Indian premium clothing retail chain. The first Pantaloons store was launched in Gariahat, Kolkata in 1997. As of January 2015, there are 86 Pantaloons stores in 44 cities. Pantaloons was previously controlled by the Future Group, but has now been taken over by Aditya Birla Nuvo Limited (ABNL).According to the Brand Trust Report 2014, a study conducted by Trust Research Advisory, Pantaloons featured among 100 most trusted brands in India. Tata Group Tata group is another major player in Indian retail industry with its subsidiary Trent, which operates Westside and Star India Bazaar. Established in 1998, it also acquired the largest book and music retailer in India ‘Landmark’ in 2005. Trent ownsover 4 lake sq. ft. retail space across the country.Currently operates more than 90 stores in the major metros and mini metros of India. RPG Group: One of the first entrants into organised food & grocery retail with Food world stores in 1996 and then formed an alliance with Dairy farm International and launched health & glow (pharmacy & beauty care) outlets. Now the alliance has dissolved and RPG has Spencer’s Hyper, Super, Daily and Express formats and Music World stores across the country Reliance: Reliance Retail Ltd. is a subsidiary company of Reliance Industries. Founded in 2006 and based in Mumbai, it is the largest retailer in India in terms of revenue. Its retail outlets offer foods, groceries, apparel and footwear, lifestyle and home improvement products, electronic goods, and farm implements and inputs. The company’s outlets also provide vegetables, fruits and flowers. It focuses on consumer goods, consumer durables, travel services, energy, entertainment and leisure, and health and well-being products, as well as on educational products and services. It has a total of 2000 stores as of October 2014 in India with an area of approx. 9 million square feet across 155 cities. AV Birla Group: Aditya Birla Retail Limited (ABRL) is the retail arm of Aditya Birla Group Company. ABRL is the fourth largest supermarket chain in the country after Future Group, Reliance Retail and D-Mart. It operates two different store formats - Supermarket and Hypermarket under the brand more.. It has about 494 supermarkets and 16 hypermarkets around the country. ABRL plans to open 100 supermarkets and 6-8 hypermarkets Future Group:
  11. 11. 11 Future Group is an Indian private conglomerate, headquartered in Mumbai. The company is known for having a significant prominence in Indian retail and fashion sectors, with popular supermarket chains like Big Bazaar and Food Bazaar, lifestyle stores like Brand Factory, Central etc. and also for having notable presence in integrated foods and FMCG manufacturing sectors. D-Mart: D-Mart is a chain of hypermarket and supermarkets in India started by R K Damani. As of 2015, it has 89 stores spread across Maharashtra, Gujarat, Telangana, Andhra Pradesh, Madhya Pradesh and Karnataka, and a recent purchase of property in Rajkot shows that it is well advancing towards expanding across India. Another big player in the segment will be the Bharti group. Overhauling this part of the supply chain will be the key to the success of any retail venture in food and groceries segment.Wal-Mart, the world’s largest retailer, and Bharti Enterprises have signed a Memorandum of Understanding (MoU) to explore business opportunities in the Indian retail industry. This joint venture will mark the entry of Wal-Mart into the Indian retailing industry a retail chain like Future Group’s Big Bazaar may be clocking heady sales (growing at 100% year- on- year), but the dozen odd shops operating in its proximity wear a deserted look, giving a somewhat hollow ring to the much- talked- about retail boom in the country. The key players currently operating in the Indian retail industry includes Future Group, Trent Ltd, RPG Enterprise, Vishal Retail Ltd, Shoppers Stop Ltd, Bata India Ltd, Provogue India Ltd, Videocon Appliances Ltd, ITC Ltd, Godrej Agrovert Ltd, and DCM-HariyahKissan Bazaar. Retailers ranging from Pantaloons to RPG to Piramal’s or the Tata’s are working towards exploiting this model, perceived by consumers as more value enhancing. But in the long run, what is most likely to succeed is a more balanced multi-format strategy. Finally, while in the first flush of the retail boom, the elimination of traditional intermediaries may bring windfall gains (as well as bring welcome and much-needed relief to the producers), this source will increasingly dry out as competition intensifies and margins come under pressure a few years down the line. What would set the survivors apart from those who are forced to sell out or go belly-up will be differentiators like location, value-added services (convenience), private labels and customer loyalty programs other than price. The last, a result of retailer-manufacturer tie-ups, state-of-the-art supply chain infrastructure, global sourcing and scale will be a key factor. And, if experience in other markets is anything to go by, an uncanny ability to read shifting trends. Retailing formats in India 1. Malls
  12. 12. 12 2. Specialty Stores 3. Discount Stores 4. Department Stores 5. Hyper marts / Supermarkets 6. Convenience Store 7. MBO’s 8. E-trailer Malls: Mall is largest form of organized retailing today. Located mainly in metro cities, in proximity to urban outskirts they range from 60,000 sq.ft. to 7, 00,000 sq.ft. and above. They lend an ideal shopping experience with an amalgamation of product, service and entertainment, all under a common roof. Examples include Shoppers Stop, Pyramid, Pantaloons, and Big Bazaar. Specialty Stores: Focusing on specific market segments and have established themselves strongly in their sectors. 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 few examples. Discount Stores: As the name suggests, discount stores or factory outlets, offer discounts on the MRP through selling in bulk reaching economies of scale or excess stock left over at the season. The product category can range from a variety of perishable/ non-perishable goods. Discount Circuit is one such example. Department Stores: Large stores ranging from 20000-50000 sq. ft., catering to a variety of consumer needs. Further they are classified into localized departments such as clothing, toys, home, groceries, etc. Hyper-Marts/Supermarkets: Large self service outlets, catering to varied shopper needs are termed as Supermarkets. These are located in or near residential high streets. These stores today contribute to 30% of all food & grocery organized retail sales. Super Markets can further be classified into mini supermarkets typically 1,000 sq.ft. to 2,000 sq.ft. and large supermarkets ranging from of 3,500 sq.ft. to 5,000 sq. ft. having a strong focus on food & grocery and on personal sales. Convenience Stores: These are relatively small stores 400-2,000 sq. feet located near residential areas. They stock a limited range of high-turnover convenience products and are usually open for extended periods during the day, seven days a week. Prices are slightly higher due to the convenience premium.
  13. 13. 13 MBO’s: Multi Brand outlets, also known as Category Killers, offer several brands across a single product category. These usually do well in busy market places and Metros. E-trailers: Retailers providing online buying and selling of products and services. Landscape of the retail sector in India One of the biggest opportunities and challenges that characterize the Indian retail sector is its structure. While it has matured over the years, it is still highly fragmented, with an estimated 12 to 15 million outlets. Its overall size is estimated to be INR31trillion (USD534 billion) in 2013-14, with a CAGR of 15 per cent over the last five years, which is much higher than the growth of the Indian GDP in the same period. Going forward, the overall retail sector growth is likely to witness a CAGR of 12-13 per cent, which would be worth INR55 trillion (USD948 billion) in 2018-19.With over 92 per cent of the business coming from the fragmented unorganized sector, such as traditional family run mom and pop stores and corner stores, the Indian retail sector offers immense potential for growth and consolidation. The revenue generated from organized retail (or modern retail) was INR0.9 trillion (USD15.5 billion) in 2009, INR2.4trillion in 2012(USD41.4billion), and is expected to continue growing at an impressive rate to a projected INR5.5trillion (USD94.8billion) by 2019 Global positioning of Indian retail India was ranked fifth in 2012 on the Global Retail Development Index, by AT Kearney, highlighting it as one of the key foreign investment destinations worldwide. However, in 2013, the rank fell to fourteenth possibly due to slow spending and general economic slowdown, along with policy concerns over approval of multi-brand retail across several states in India. This trend is expected to reverse soon supported by factors such as improving demographics, rising disposable income levels, expansion of organized retail sector into Tier 2 and 3 cities, changing consumer habits, etc. This could provide a wide window of opportunities for national and international players in the next five to ten years. E-Retailing Electronic retailing (e-tailing) is a buzzword for any business-to-consumer (B2C) transactions that take place over the Internet. Simply put, e-tailing is the sale of goods online. Companies like Amazon and Dell created the online retail industry by putting the entire customer experience - from browsing products to placing orders to paying for purchases - on the Internet. The success of these and other companies encouraged more traditional retailers to create an online presence to augment their brick-and-mortar outlets. E-tailing has expanded rapidly over the years. However, early attempts at e-tailing included overly ambitious plans for an entirely online shopping experience. Pets.com - an online retailer that failed spectacularly when the dot-com
  14. 14. 14 bubble burst in the early 2000s - stands as testament to the limitations of e-tailing in the early days of the Internet. Having customers shop for pet products online and wait for delivery proved to be impractical when those same customers could get what they needed at any local supermarket. Since the failure of the pure e- tailing models of the dot-com bubble, many retailers have chosen a hybrid approach, which involves supplementing traditional sales outlets with an online store. As such, software and cloud solutions have emerged to allow companies of all sizes to begin e-tailing. Some larger e-tailing websites offer affiliate programs, where businesses can list goods on a ready-made platform in exchange for a percentage of sales. Although e-tailing is not ready to fully replace traditional sales outlets, it is growing at a much faster pace than brick-and-mortar stores. E-Retailing in India India is one of the world’s emerging markets in terms of e-retail. The recent past has seen online sales improve in a number of ways. Increased internet availability means more people are logging on and choosing internet retailers to supply their needs. The number of digital buyers in India, aged 14 or older, is a huge factor in this growing market. In 2011 were estimated at 14.5 million nationwide. This number rose to 19.2 million in 2012 and forecasts predict that the number will exceed 40 million by 2016. Business-to- consumer (B2C) is a form of e-commerce whereby a transaction is conducted directly between a company and a consumer. In 2012, the average B2C e-retail sales per digital buyer in India amounted to 632 U.S. dollars, up from 597 U.S. dollars a year earlier. This figure is expected to increase in the future and reach 724 U.S. dollars in 2016. Online retail sales in India have been documented between 2009 and 2013. (255359) in 2009, online shopping generated 6.3 billion U.S. dollars and by 2013, this figure jumped to 16 billion U.S. dollars. However, by 2013, forecasters expected the revenue of online retail sales in India to total 56 billion U.S. dollars.
  15. 15. 15 Review of literature In the present day’s retail business, ensuring customer satisfaction in delivering the right product and service to the end-users is the major concern for the future growth of the organization. In the present study an attempt is made to find out the customer satisfaction during purchase in retail outlets based on customer survey. (Das Prasun, 2009). Literature on customer satisfaction is voluminous and spans several areas such as marketing, management and accounting. For example, numerous papers use the ACSI (American Customer Satisfaction Index) to study customer satisfaction at the company, industry and macroeconomic levels. This paper focuses only on customer satisfaction studies that are related to retailing and does not survey the literature that studies the design of satisfaction survey instruments, as there is no control over survey design. The basic tenet of this research stream is that higher service quality improves customer satisfaction, resulting in better financial performance, although the mechanisms by which this improvement happens vary. Gaining high levels of customer satisfaction is very important to a business because satisfied customers are most likely to be loyal and to make repeat orders and to use a wide range of services offered by a business . Customer satisfaction is an asset that should be monitored and managed just like any physical asset. The same way, has attempted to measure the links between attribute perceptions and customer satisfaction, and
  16. 16. 16 between consumer satisfaction and sales performance, in the retail sector of India. The study relies upon an extensive data set of customer satisfaction and sales information from approximately 110 customers.Retail customer satisfaction is determined by customer service, brand variety, store environment, convenient location and shopping convenience. Retail customer satisfaction depends on location, product quality, reliability, and process and personnel services. On the other hand in a study on factors influencing customer satisfaction of organized retail outlets in Delhi, the following cues were identified as the determinants of customer satisfaction in retail outlets. The cues are personnel interactions, physical aspects, promotional campaign, price, location and product quality. Definition of Customer Satisfaction Kotler (1997) defines customer satisfaction as follows: Satisfaction is a person's feelings of pleasure or disappointment resulting from comparing a Product’s perceived performance (or outcome) in relation to his or her expectations. Brown (1992) defines customer satisfaction as: The state in which customer needs, wants and expectations throughout the product or service's life are met or exceeded resulting in repeat purchase, loyalty and favorable worth-of mouth. According to Jones and Sasser (1995), four basic elements affect customer satisfaction. They are: The basic elements of the product or service, basic support services, a recovery process for counteracting bad experiences, and extraordinary service. There are many definitions of the key elements of the services, but this one is considered appropriate in the context of care or after sales services. Satisfaction is a function of perceived performance and expectation. If the performance matches the expectations the customer is satisfied. If the performance exceeds the expectation the customer is highly satisfied and delighted. If the performance does not match the expectations the customer is dissatisfied. Satisfaction is a person’s feelings of pleasure of disappointment resulting for comparing a products perceived performance (out-come) in relation t his/her expectation. The link between customer satisfaction and customer loyalty is proportional. Suppose customer satisfaction is rated on a scale from 1 – 5. At a very low levels of customer satisfaction. Level-1, customers are likely to abandon. Level-2 to 4, customers are fairly satisfied but still find it easy to switch when a better offer comes along. Level-5, the customer is very likely to repurchase an even spread good word of mouth about the company.
  17. 17. 17 Measuring customer satisfaction Organizations need to retain existing customers while targeting non-customers; Measuring customer satisfaction provides an indication of how successful the organization is at providing products and/or services to the marketplace. Customer satisfaction is an abstract concept and the actual manifestation of the state of satisfaction will vary from person to person and product/service to product/service. The state of satisfaction depends on a number of both psychological and physical variables which correlate with satisfaction behaviors such as return and recommend rate. The level of satisfaction can also vary depending on other factors the customer, such as other products against which the customer can compare the organization's products. Work done by Parasuraman, Zeithaml and Berry (Leonard L) between 1985 and 1988 delivered SERVQUAL which provides the basis for the measurement of customer satisfaction with a service by using the gap between the customer's expectation of performance and their perceived experience of performance. This provides the researcher with a satisfaction "gap" which is semi-quantitative in nature. Cronin and Taylor extended the disconfirmation theory by combining the "gap" described by Parasuraman, Zeithaml and Berry as two different measures (perception and expectation) into a single measurement of performance relative to expectation. Baker Prewitt (2000) has found that service quality influences relative attitude and satisfaction, while satisfaction influences relative attitude, repurchase and recommendation but has no effect on store loyalty. He has also found that loyalty is influenced by recommendation and repurchases intention. BintaAbubakar (2001) have found that the retailer seems to meet the needs of the customers consider important. There were differences across the postal districts but these were not many. Postal code area B seems to have the most satisfied customers. Bernadette D’Silva (2010) concludes that Indian shoppers are quite influenced by the visibility, advertising and attractive bumper offers on the product. They have found some important factors which can increase the customer’s loyalty as well as the demand for the products in the supermarkets. M Luth (2006) have found five dimensions of customer satisfaction namely quality of goods, consulting and service, atmosphere, price-performance ratio, and trust. They have also found that discount-oriented customers, organic food shop customers and organic super-markets customers are differ in terms of choice decision. Methodologies
  18. 18. 18 American Customer Satisfaction Index (ACSI) is a scientific standard of customer satisfaction. Academic research has shown that the national ACSI score is a strong predictor of Gross Domestic Product (GDP) growth, and an even stronger predictor of Personal Consumption Expenditure (PCE) growth. On the microeconomic level, research has shown that ACSI data predicts stock market performance, both for market indices and for individually traded companies. Increasing ACSI scores has been shown to predict loyalty, word-of-mouth recommendations, and purchase behaviour. The ACSI measures customer satisfaction annually for more than 200 companies in 43 industries and 10 economic sectors. In addition to quarterly reports, the ACSI methodology can be applied to private sector companies and government agencies in order to improve loyalty and purchase intent. Two companies have been licensed to apply the methodology of the ACSI for both the private and public sector: CFI Group, Inc. applies the methodology of the ACSI offline, and Foresee Results applies the ACSI to websites and other online initiatives. ASCI scores have also been calculated by independent researchers, for example, for the mobile phones sector. The Kano model is a theory of product development and customer satisfaction developed in the 1980s by Professor Noriaki Kano that classifies customer preferences into five categories: Attractive, One- Dimensional, Must-Be, Indifferent, Reverse. The Kano model offers some insight into the product attributes which are perceived to be important to customers. Kano also produced a methodology for mapping consumer responses to questionnaires onto his model. SERVQUAL or RATER is a service-quality framework that has been incorporated into customer- satisfaction surveys (e.g., the revised Norwegian Customer Satisfaction Barometer) to indicate the gap between customer expectations and experience. J.D. Power and Associates provides another measure of customer satisfaction, known for its top-box approach and automotive industry rankings. J.D. Power and Associates' marketing research consists primarily of consumer surveys and is publicly known for the value of its product awards. Other research and consulting firms have customer satisfaction solutions as well. These include A.T. Kearney's Customer Satisfaction Audit process, which incorporates the Stages of Excellence framework and which helps define a company’s status against eight critically identified dimensions. For Business to Business (B2B) surveys there is the Info Quest box. This has been used internationally since 1989 on more than 110,000 surveys (Nov '09) with an average response rate of 72.74%. The box is targeted at "the most important" customers and avoids the need for a blanket survey. Improving Customer Satisfaction
  19. 19. 19 Published standards exist to help organizations develop their current levels of customer satisfaction. The International Customer Service Institute (TICSI) has released The International Customer Service Standard (TICSS). TICSS enables organizations to focus their attention on delivering excellence in the management of customer service, whilst at the same time providing recognition of success through a 3rd Party registration scheme. TICSS focuses an organization’s attention on delivering increased customer satisfaction by helping the organization through a Service Quality Model. TICSS Service Quality Model uses the 5 P's - Policy, Processes, and People, Premises, Product/Services, as well as performance measurement. The implementation of a customer service standard should lead to higher levels of customer satisfaction, which in turn influences customer retention and customer loyalty. Expectation and Customer Satisfaction Expectations are beliefs (likelihood or probability) that a product/service (containing certain attributes, features or characteristics) will produce certain outcomes (benefits-values) given certain anticipated levels of performance based on previous affective, cognitive, and behavioural experiences. Expectations are often seen as related to satisfaction and can be measured as follows: 1. IMPORTANCE: Value of the product/service fulfilling the expectation. 2. SATISFACTION EXPECTATIONS: Like / Dislike of the product/service. 3. FULFILLMENT OF EXPECTATIONS: The expected level of performance vs. the desired expectations. This is “Predictive Fulfilment” and is a respondent-specific index of the performance level necessary to satisfy. 4. EXPECTED VALUE FROM USE: Satisfaction is often determined by the frequency of use. If a product/service is not used as often as expected, the result may not be as satisfying as anticipated. For example a motorcycle that sits in the garage, an unused year subscription to the local fitness center/gym, or a little used season pass to a ski resort would produce more dissatisfaction with the decision to purchase than with the actual product/service. Objectives of a Consumers Satisfaction surveying program In addition to a clear statement defining customer satisfaction, any successful surveying program must have a clear set of objectives that, once met, will lead to improved performance. The most basic objectives that should be met by any surveying program include the following: 1.Understanding the expectations and requirements of all your customers
  20. 20. 20 2. Determining how well your company and its competitors are satisfying these expectations and requirements 3.Developing service and/or product standards based on your findings 4.Examining trends over time in order to take action on a timely basis 5.Establishing priorities and standards to judge how well you've met these goals Before an appropriate customer satisfaction surveying program can be designed, the following basic questions must be clearly answered: 1. How will the information we gather be used? 2.How will this information allow us to take action inside the organization? 3. How should we use this information to keep our customers and find new ones?
  21. 21. 21 Chapter 2 Research Methodology
  22. 22. 22 Research methodology Objectives of the Study 1) To identify the determinants of customer satisfaction in the retail outlets in the city. 2) To establish the relationship between attitude and behaviour of customers in retail outlets. Scope of Study The scope of this study is wide and valuable. The study deals with the customer satisfaction towards Big Bazaar outlets which is very essential for retailing. Also, it deals with various problems in the Big Bazaar. Hypothesis For the purpose of the study, following hypothesis has been framed: H0: Customers are not satisfied with the organized retail stores. H1: Customers are satisfied with the organized retail stores Research Methodology Research in common pursuance refers to a search for knowledge in a scientific and systematic way for pursuant information on a specified topic. Once the objective is identified that next step is to collect the data which is relevance to the problem identified and analyse the collected data in order to find out the hidden reasons for the problem. There are two types of data namely. 1. Primary Data 2. Secondary Data 1. Primary Data Primary data is to be collected by the concerned project researcher with relevance to his problem. So the primary data is original in nature and is collected first hand. Collection of primary data There are several methods of collecting primary data particularly in surveys and descriptive researches. Important ones are as follows: 1. Observation Method 2. Interview Method 3. Questionnaire 1) Observation Method
  23. 23. 23 It is the most commonly used methods especially in studies relating to behavioural sciences. This method implies the collection of information by way of investigators own observation, without interviewing the respondents. The information obtained relates to what is currently happening and is not complicated by either the past behaviour or future intentions or attitudes of respondents. 2) Interview Method The interview method of collecting data involves presentation of oral, verbal stimuli and reply in terms of oral-verbal responses. This method can be used through personal interview and, if possible, through telephone interview. Personal Interview The method of collecting information through personal interview is usually carried out in a structured way. As such we call this interview as structured interviews. Such interviews involve the use of a set of predetermined questions and of highly standardized techniques of recording. Thus, the interviewer in a structured interview follows a rigid procedure laid down, asking questions in a given format and the order prescribed. As against it, the unstructured interviews are characterized by flexibility of approach to questioning. Unstructured interviews do not follow a system of pre-determined questions and standardized techniques of recording information. 3) Questionnaire The researcher and the respondents do come in contact with each other if this method of survey is adopted. Questionnaires are mailed to the respondents with a request to return after completing the same. It is the most extensively used method in various economic and business surveys & research. Questionnaire to be used must be prepared very carefully so that it may prove to be effective in collecting the relevant information. Structured questionnaire Using structured questionnaire method, which contains close-ended questions, collected the primary data with respect the problem chosen. The questions have some options, from which the respondents have to choose a choice. As the answers lie within a specified range they are called close-ended questions. Open- ended questions are those questions where no choices are given to respondents and respondents are free to express their choice or answer. The following sampling method was used. Sampling: A non-probability conclusive sampling method was used in the study for data collection. Sample size:
  24. 24. 24 The sample was taken from Patia Big Bazaar Bhubaneswar. The sample size designed for this project is 100 keeping in mind the paucity of time. Research Methodology A structured questionnaire was prepared and presented to the respondents and related questions were asked. Questionnaires mainly contained close-ended questions and a few open ended questions, to identify the reasons for customer’s satisfaction & their dissatisfaction. Secondary data It is the data already existing, which has gone through some standard analysis. Under the secondary data, the company’s annual reports, broachers, pamphlets, newspapers, journals and internet were taken into consideration. Data Usage: For analysis and interpretation, only primary data is used. However for conclusion and recommendations both primary and the secondary data along with the verbal knowledge and information although obtained from respondents, though they are outside the parameters of questionnaire were also included.The data collected from these sources were analysed using various tools like percentage analysis, chi-square test, and correlation and cross table analysis method. Research Instrument A standard questionnaire is prepared for the collection of data from various respondents. The questionnaire is designed in such a way that the aim of collecting essential information for the study would meet the objectives. Tools: SPSS version 16.0 is used to tabulate and analyse the valid responses. Initially, a comprehensive data file was created. Then, variables and their labels were defined. Few statistical tools such as Person's Correlation, Chi-Square and cross tabling were used for the analysis. Limitations: 1. The survey is limited to Bhubaneswar city only. 2. Answers of the questionnaire depend upon the belief of customers, which may differ from the reality. 3. A chance of wrong answers cannot be ruled out.
  25. 25. 25 Chapter-3 Result/Analysis of the work
  26. 26. 26 Analysis: Table I. Demographic Profiles of Respondents Demographic Group Demographic Sub- Group Number Percentage (%) Age Group 15-25Years 62 62.0 25-35Years 23 23.0 35-45 Years 12 12.0 45 & above 3 3.0 Gender Male 45 45.0 Female 55 55.0 Marital Status Unmarried 65 65.0 Married 35 35.0 Occupation Self Employed 13 13.0 Service 21 21.0 Professional 14 14.0 Housewife 4 4.0 Student 48 48.0 Monthly income Less than Rs10,000 62 62.0 Rs.10,000-Rs 20,000 11 11.0 Rs.20,000-Rs. 40,000 16 16.0 Rs.40,000& above 11 11.0 Questionnaire asked to respondents 1. How frequently do you visit Big Bazaar? 2. Reason for your visit? 3. Which source made you to buy product from Big-Bazaar? 4. How are the employee’s interaction at big bazaar? 5. How satisfied are you with the following physical aspects of our store? 6. Do you need to wait for a long time at billing section at big bazaar? 7. Does Big Bazaar provide exchange facilities to customers?
  27. 27. 27 1. Number respondents based on Age Interpretation: From the above pie chart it reveals 62% respondents are in the age group of 15-25, 23% respondents are in the age group of 25-35, 12% respondents are in the age group of 35-45 and rest 3% are in the group of 45 &above. Here it is clearly visible that mostly younger generation love to visit big bazaar. Age 0% 15-25 62% 25-35 23% 35-45 12% 45 & above 3% Chart Title Age 15-25 25-35 35-45 45 & above Age Total Percentage 15-25 62 62 25-35 23 23 35-45 12 12 45 & above 3 3 Total 100 100
  28. 28. 28 2. No of respondents based on sex Sex Total Percentage male 45 45 female 55 55 Total 100 100 Interpretation: From gender wise classification 55% respondents are female and 45% respondents are male. male 45% female 55% 0%0% male female
  29. 29. 29 3. Number of respondents based on Monthly income Monthly Income Percentage Below 10000 62 10000-20000 11 20000-40000 16 40000 & above 11 Interpretation:62% respondents have monthly income below 10000, 11% respondents have monthly income in beween 10000-20000,16% respondents have monthly income in between 20000-40000 and 11% respondents have monthly income 40000 & above. 0 10 20 30 40 50 60 70 Monthly Income(Rs.) below 10000 10000 - 20000 20000 - 40000 40000 & above 62 11 16 11 Chart Title
  30. 30. 30 4. Number of respondents based on Martial Status Status Married 35 Single 65 Interpretation: 35% respondents are married and rest 65% respondents are single. 65% 35% 0% Status single married
  31. 31. 31 5. Number of respondents based on occupation Occupation Percentage Student 48 Housewife 4 Service 21 Professional 14 Self Employed 13 Interpretation: 48% respondents are student, 21% respondents are service holders, 14% respondents are professionals, and 13% respondents are self-employed. 0% 48% 13% 14% 21% 4% Chart Title Occupation student self employed professional service housewife
  32. 32. 32 6. How frequently do you visit Big Bazaar? frequency of visit gender of respondents Totalmale Male% Female Female% frequency of visit once in a week 12 34.3 18 27.7 30 once in 15 days 7 20 17 26.1 24 once in a month 11 31 19 29.2 30 once in two -three months 5 14.7 11 17 16 Total 35 65 100 Interpretation: 30 respondents visit once a week among which 12 male & 18 female, 24 respondents visit the big bazaar once in 15 days among which 7 male & 17 female, 30 respondents do visit once a month and 16 respondents visit once in two three months among which 5 male & 11 female. By this it is observed that more numbers of female customers are coming to big bazaar.
  33. 33. 33 7. Availability of employee availability you needed at big bazaar employee availability gender of respondents Totalmale male% female female% employee availability very much 9 26.6 13 20 22 yes 18 51.4 33 50.8 51 some what 6 17 14 21.5 20 no 2 6 3 4.7 5 not at all 0 2 2 2 Total 35 65 100 Interpretation: From availability of employee, here 22% respondents reveals employees are very much available, 51% respondents said yes theyare available, 20% respondents said employees are somewhat available, 5% respondents revealed employees are not available,2% respondents revealed employees are not at all available.
  34. 34. 34 8. Politeness of employee politeness of employee gender of respondents Totalmale Male% female female% politeness of employee very much 9 24.7 10 15.4 19 yes 17 48.6 30 46.1 47 some what 9 24.7 18 27.8 27 no 0 4 6.1 4 not at all 0 3 4.6 3 Total 35 65 100 Interpretation: The above table shows 19% respondents are very much satisfied with politeness of the employee, 47%respondents are said yes,27% respondents are somewhat satisfied with politeness of employee.4% respondents are not satisfied with politeness of the employee and 3% respondents are not at all satisfied with the politenessof the employee.
  35. 35. 35 9. Knowledge of employee. knowledge of employee gender of respondents Totalmale male% female female% knowledge of employee very much 6 17.1 10 15.4 16 yes 14 40 19 29.2 33 some what 14 40 33 50.7 47 no 1 2.9 3 4.6 4 Total 35 65 100 Interpretation: About knowledge of employee, 16% respondents replied they are very much knowledgeable, 33% respondents replied they are knowledgeable, 47% respondents replied they are somewhat knowledgeable,4% respondents replied they are not knowledgeable.
  36. 36. 36 10. Ease of finding layout ease of finding layout gender of respondents Totalmale male% female female% ease of finding layout very satisfied 7 20 9 13.8 16 satisfied 15 42.8 33 51 48 neutral 11 31.4 19 29.2 30 dissatisfied 2 5.8 3 4.5 5 very dissatisfied 0 1 1.5 1 Total 35 65 100 Interpretation:16% respondents are very satisfied with the layout,48% respondents are satisfied with the layout, 30% respondents are neutral with the layout, 5% respondents are dissatisfied with the layout and 1% respondents are very dissatisfied with the layout.
  37. 37. 37 11. Shopping Atmosphere in the store shopping atmosphere gender of respondents Totalmale male% female female% shopping atoms very satisfied 5 14.2 12 18.4 17 satisfied 22 62.9 29 44.6 51 neutral 8 22.9 22 33.8 30 dissatisfied 0 2 3.6 2 Total 35 65 100 Interpretation: From the table it was found 17% respondents very satisfied with the shopping atmosphere, 51% respondents aresatisfied with the shopping atmosphere, 30% respondents are neutral with the shopping atmosphere and 2%respondents are dissatisfied with the shopping atmosphere.
  38. 38. 38 12. Number of checkout point no of checkout point gender of respondents Totalmale male% female female% no of checkout point very satisfied 3 8.6 2 3 5 satisfied 8 22.8 15 23 23 neutral 12 34.2 27 41.5 39 dissatisfied 12 34.2 16 24.6 28 very dissatisfied 0 5 7 5 Total 35 65 100 Interpretation: 5% respondents are very satisfied with no. of checkout points, 23% respondents are satisfied with the no. of checkout points, 39% respondents are neutral with no. of checkout points, 28% respondents are dissatisfied with the no. of checkout points and 5% respondents are very dissatisfied with the no. of checkout points.
  39. 39. 39 13. Exchange facility exchange facility gender of respondents Totalmale Male% female Female% exchange facility Verymuch 1 2.8 6 9.2 7 yes 20 57.1 37 57 57 somewhat 13 37.1 19 29.2 32 no 1 2.8 2 3.1 3 not at all 0 1 1.5 1 Total 35 65 100 Interpretation:7% respondents are very much satisfied with exchange facility, 57% respondents are replied ‘yes’ they are Satisfied with the exchange facility, 32% respondents are somewhat satisfied with the exchange facility,3% respondents are not satisfied with the exchange offer and 1% are not at all satisfied with the exchange offer.
  40. 40. 40 14. Overall satisfaction level overall satisfaction gender of respondents Totalmale Male% female Female% overall very satisfied 1 3 1 1.5 2 satisfied 21 60 34 52.5 55 neutral 12 26 26 26 38 dissatisfied 1 3 2 3 3 Verydissatisfied 0 2 3 2 Total 35 65 100 Interpretation: 2% respondents are very satisfied, 55% respondents are satisfied, and 38% respondents are neutral on their approach, 3% respondents are dissatisfied and 2% respondents are very dissatisfied.
  41. 41. 41 15. Probability of Revisit. probability of revisit gender of respondents Totalmale Male% female Female% probability of revisit likely 13 37.1 24 37 37 very likely 11 31.4 19 29.2 30 not sure 7 20 21 32.3 28 not very likely 4 11.5 1 1.5 5 Total 35 65 100 Interpretation:37% respondents replied they are likely to revisit, 30% respondents replied they are very likely to revisit,28% respondents replied they are not sure to revisit and 5% respondents replied they are not very likely to revisit.
  42. 42. 42 Chi Square Null Hypothesis 1: There is not much influence of customer satisfaction in case of re visit. Alternate Hypothesis 2: There is much influence of customer satisfaction in case of re visit. Null Hypothesis 2: There is not much influence of customer satisfaction in case of check out points. Alternate Hypothesis 2: There is much influence of customer satisfaction in case of check out points. Descriptive Statistics N Mean Std. Deviation Minimum Maximum no of checkout point 100 3.0500 .95743 1.00 5.00 probability of revisit 100 2.0100 .92654 1.00 4.00 The above figure shows the descriptive statistics of the data. Its shows the minimum and maximum values along with total responses, mean and standard deviation. The figure below shows the observed, expected and residual values of no. of check out point variables. no of checkout point Observed N Expected N Residual very satisfied 5 20.0 -15.0 satisfied 23 20.0 3.0 neutral 39 20.0 19.0 dissatisfied 28 20.0 8.0 very dissatisfied 5 20.0 -15.0 Total 100 The figure below shows the observed, expected and residual values of probability of re visit. probability of revisit Observed N Expected N Residual likely 37 25.0 12.0 very likely 30 25.0 5.0 not sure 28 25.0 3.0 not very likely 5 25.0 -20.0 Total 100
  43. 43. 43 Test Statistics no of checkout point probability of revisit Chi-Square 44.200a 23.120b df 4 3 Asymp. Sig. .000 .000 a. 0 cells (.0%) have expected frequencies less than 5. The minimum expected cell frequency is 20.0. b. 0 cells (.0%) have expected frequencies less than 5. The minimum expected cell frequency is 25.0. The table above shows that Chi square value of 44. 20 (df=4, N=100), p<.05 is significant at 4 degree freedom, Showing that there is significant difference in expected and observed frequencies. As such reject the Null hypothesis 1 and accept the alternate hypothesis 1, that is, there is much influence of customer satisfaction in case of no. of check point comparison. The table above shows that Chi square value of 23.12 (df=3, N=100), p<.05 is significant at 3 degree freedom, Showing that there is significant difference in expected and observed frequencies. As such reject the Null hypothesis 2 and accept the alternate hypothesis 2, that is, there is much influence of customer satisfaction in case of no. of check point comparison. .
  44. 44. 44 The study is an attempt to understand the customer satisfaction at Big Bazaar, Patia Bhubaneswar. Summary of Findings 1. Age wise classification reveals that 62% of customer’s belonged to age group of 15- 25, another 23% are in the group of 25-35, 12% are in the group of 35-45 and 3% are in the group of 45 & above. 2. Gender wise classification reveals that 45% of respondents are males and 55% are females. 3. Monthly income wise classification reveals that 62% of customer’s belonged to income of less than 10000/month, another 11% are in the income of 10000-20000/month, 16% are in the income of 20000- 40000/month, and 11% are in the income of more than 40000/month. 4. Marital status wise classification reveals that 35% ofcustomer’s married and 65% of customer’s are unmarried. 5. 14% Professional& 21% services come in big bazaar. 6. Shopping wise classification reveals that 30% of customer’s come to once in a week, 24% customer’s do shopping once in 15 days, 30 % customer’s do shopping once in a month and 16% customer’s do shopping once in two- three months. 7. From availability of employee, here 22% respondents reveals employees are very much available, 51% respondents said yes they are available, 20% respondents said employees are somewhat available, 5% respondents revealed employees are not available, 2% respondents revealed employees are not at all available 8. 19% respondents are very much satisfied with politeness of the employee, 47% respondents are said yes, 27% respondents are somewhat satisfied with politeness of employee.4% respondents are not satisfied with politeness of the employee and 3% respondents are not at all satisfied with the politeness of the employee. 9.About knowledge of employee, 16% respondents replied they are very much knowledgeable, 33% respondents replied they are knowledgeable, 47% respondents replied they are somewhat knowledgeable, 4% respondents replied they are not knowledgeable. 10.16% respondents are very satisfied with the layout, 48% respondents are satisfied with the layout, 30% respondents are neutral with the layout, 5% respondents are dissatisfied with the layout and 1% respondents are very dissatisfied with the layout. 11.17% respondents very satisfied with the shopping atmosphere, 51% respondents are satisfied with the shopping atmosphere, 30% respondents are neutral with the shopping atmosphere and 2% respondents are dissatisfied with the shopping atmosphere. 12.5% respondents are very satisfied with no. of checkout points, 23% respondents are satisfied with the no. of checkout points, 39% respondents are neutral with no. of checkout points, 28% respondents are
  45. 45. 45 dissatisfied with the no. of checkout points and 5% respondents are very dissatisfied with the no. of checkout points. 13.7% respondents are very much satisfied with exchange facility, 57% respondents are replied ‘yes’ they are Satisfied with the exchange facility, 32% respondents are somewhat satisfied with the exchange facility,3% respondents are not satisfied with the exchange offer and 1% are not at all satisfied with the exchange offer. 14.2% respondents are very satisfied, 55% respondents are satisfied, and 38% respondents are neutral on there approach, 3% respondents are dissatisfied and 2% respondents are very dissatisfied.
  46. 46. 46 Chapter-4 Conclusion and Recommendation
  47. 47. 47 Conclusion: As a matter of fact, this on the job training was fruitful for me as I learnt many management skills practically during training period at Big Bazaar. Right from the beginning of my training I observed many things which are the part of daily routine of Big Bazaar, Patia (Bhubaneswar). The store works smoothly as it is the chain of a well- known and reputed organization. The retail staff personnel are helping in nature as they supported and cooperated with me during the training period and tried their best to impart proper training of the retail store. From all the available results this can be concluded that people have huge expectations from the company. They not only want all the things they are getting from other companies but in addition they also want some other benefits which in turn can give them security of being a part of Big Bazaar as a customer in long run. Big Bazaar has many brands in Fashion Bazaar such as Lee cooper, DJ&C, Spunk, Disney, AFLetc. but do not have an extensive range of these brands which is why they are losing their customers as they have different brand preferences. In Fashion Bazaar they have big brands as mentioned above but many times they do not achieve the target due to the ineffective arrangements of merchandise and interaction of employees with customers are very less. However, Fashion Bazaar contributes almost 30% of daily sale of the store. But sometimes during the course of days, it does not achieve the stated target. In fact, during festival offers and Big Days, Fashion Bazaar has the major contribution in attracting customers and increasing the store sale. It is safely inferred that customers want huge offers and discounts. If Big Bazaar gives huge discount and offers, it will definitely increase its sales. All the customers know about the Big Bazaar that is: “Naya India KaBazzar” Although Big Bazaar provides many services yet there are many areas where customers demand for more than what they should get and which is beyond company policy like, free servicing, additional free gifts and extra term benefits. The company is also facing some problems from its previous customer’s side that had some bad experiences about the company product and service due to the less attention given by team members to customers along with incomplete information disseminated about the products. Big Bazaar also needs good service at CSD for their customers. Briefly stated, the organization is working on all these aspects continuously by filling feedback forms from customers and conducting market research on products range and customers’ preferences.
  48. 48. 48 Recommendation The following recommendations are made for the better performance of Big Bazaar, Patia (Bhubaneswar) 1. Review of everyday discounts/offers at signage to check whether they are updated properly or not. 2. Signage should be displayed properly on the floor and near the entrance gate for optimum visibility. 3. Availability of products in each size should be at every floor. 4. At least 6 to 8 cash counters should remain open every day to avoid crowd at cash counters. 5. Increase and train the number of supporting staff (team members) on the floor of Fashion Bazaar to pay proper attention to customers. 6. Increase the brand and product range in the Fashion Bazaar to increase sales by providing a greater array of choices. 7. Interaction should be there between employees and customers. 8. Proper arrangement of merchandiseshould be done on the floor. 9. Air-Conditioners should be properly maintained so that customers have greater experience while shopping.
  49. 49. 49 BIBLIOGRAPHY Websites  www.Futurebazaar.com  www.Google.com  www.Wikipedia.com  www.bigbazaar.com  www.managementparadise.com  www.AllAnalytics.com Books  Marketing Management by Philip Kotler  Research Methodology by C R Kothri
  50. 50. 50 Annexure Questionnaire This survey is designed to know the response about customer satisfaction at Big Bazaar. Kindly summit your response Personal details Name: ___________________________ 1. Age: a) 15- 25 b) 25-35 c) 35-45 d) 45& above 2. Sex: a) Male b) Female. 3. Occupation: a) Student b) Self-employed c) Professional d) Service e) Housewife. 4. Are you: a) Single b) Married. 5. Monthly income: a) Below 10000 b) Rs 10000-20000 c) Rs 20000-40000 d) Rs40000 & above 6. Region [ ] Bhubaneswar (East) [ ] Bhubaneswar (west) [ ] Bhubaneswar (South) [ ] Bhubaneswar (North) Qualitative Data 7. How frequently do you visit Big Bazaar? a) Once in a week b) Once in 15 days c) Once in a month d) Once in 2-3 months e) Not at all 8. Reason for your visit? [ ] Promotional offer [ ] Discount offer [ ] Location of Big Bazaar [ ] Range of items [ ] Staff friendliness and cooperativeness 9. Which source made you to buy product from Big-Bazaar [ ] Newspaper [ ] F.Mradio/TV [ ] Internet [ ] Friends [ ] others
  51. 51. 51 10. How are the employee’s interaction at big bazaar? Very much Yes Some what No Not at all Available when You needed? Polite? Helpful? Knowledgeable? 11. How satisfied are you with the following physical aspects of our store? Very satisfied Satisfied Neutral Dissatisfied Very dissatisfied Lay out ease of finding what you want Appeal and look of store Shopping atmosphere Cleanliness Number of checkouts 12. Do you need to wait for a long time at billing section at big bazaar? [ ] Very much [ ] Yes [ ] somewhat [ ] No [ ] Not at all 13. Does Big Bazaar provide exchange facilities to customers? [ ] Very much [ ] Yes [ ] somewhat [ ] No [ ] Notat all 14. Are you satisfied with the solutions to your queries at Big Bazaar?
  52. 52. 52 [ ] Very satisfied [ ] Satisfied [ ] Neutral [ ] Dissatisfied [ ] Very dissatisfied 15. How likely are you want to visit ore store again? [ ] Likely [ ] Very likely [ ] Not sure [ ] Not very likely [ ] Not at all likely
  53. 53. 53 Company Profile Future Group: Future Group is an Indian private conglomerate, headquartered in Mumbai. The company is known for having a significant prominence in Indian retail and fashion sectors, with popular supermarket chains like Big Bazaar and Food Bazaar, lifestyle stores like Brand Factory, Central etc. and also for having notable presence in integrated foods and FMCG manufacturing sectors. Future Retail (initially Pantaloons Retail India Ltd (PRIL)) and Future Lifestyle Fashions, two operating companies of Future Group, are among the top retail companies listed in BSE with respect to assets, and in NSE with respect to market capitalization. On May 2012, Future Group announced 50.1% stake sale of its fashion chain Pantaloons to Aditya Birla Group in order to reduce its debt of around INR 8000 crores. To do so, Pantaloons fashion segment was demerged from Pantaloons Retail India Ltd; the latter was then merged to another subsidiary—Future Value Retail Ltd—and rechristened Future Retail Ltd. Future Group understands the soul of Indian consumers. As one of India’s retail pioneers with multiple retail formats, we connect a diverse and passionate community of Indian buyers, sellers and businesses. The collective impact on business is staggering: Around 300 million customers walk into our stores each year and choose products and services supplied by over 30,000 small, medium and large entrepreneurs and manufacturers from across India. And this number is set to grow. Future Group employs 36,000 people directly from every section of our society. We source our supplies from enterprises across the country, creating fresh employment, impacting livelihoods, empowering local communities and fostering mutual growth. We believe in the ‘Indian dream’ and have aligned our business practices to our larger objective of being a premier catalyst in India’s consumption-led growth story. Working towards this end, we are ushering positive socio-economic changes in communities to help the Indian dream fly high and the ‘Sone Ki Chidiya’ soar once again. This approach remains embedded in our ethos even as we rapidly expand our footprints deeper into India. Future Group makes every effort to delight its customers, tailoring store formats to changing Indian lifestyles and adapting products and services to their desires. The group is credited with creating some of India’s most popular retail chains. The hypermarket chain, Big Bazaar is ranked amongst the top 3 service brands in the country by The Nielsen Company. Other retail chains include, department store chain, central,
  54. 54. 54 outlet stores chain, Brand Factory, sportswear chain, Planet Sports, home improvement and consumer durables chain, HomeTown and Ezone, supermarket chain, Food Bazaar, convenience stores chain, KB’s Conveniently Yours and a growing rural distribution network through Aadhaar. As modern retail drives fresh demand and consumption in new categories, our strategy is based on a deep understanding of Indian consumers, the products they want, and making these products available in every city, in every store format. Future Group offers innovative offerings at affordable prices tailored to the needs of every Indian household. Pioneers in the India’s retail space, our formats are household names in more than 102 cities across the country our stores cover around 17 million square feet of retail space and attract around 300 million customers each year Future Retail Limited focuses on the hypermarket & supermarket business led by formats like BB, FB, fbb, Foodhall, HomeTown &Ezone. Future Lifestyle fashion focuses on the fashion businesses with brands & retail formats like Central, Brand Factory, and Planet Sports, I am in, aLL. Future Consumer Enterprise Ltd is group's integrated food company with Food & FMCG brands & retail formats like KB’s Conveniently Yours & Aadhar. It also has interest in Food Parks Founder’s Board Kishore Biyani - GROUP CEO, Future Group Anil Biyani - Director, Future Group Sunil Biyani - Director, Future Group Rakesh Biyani - Director, Future Group Vijay Biyani -Director, Future Group Future Group retail services sorted by operating companies Future Retail Ltd 1. Big Bazaar 2. Food Bazaar 3. FBB (Fashion @ Big Bazaar) 4. Hometown 5. E Zone 6. FutureBazaar.com (e-retailing)
  55. 55. 55 Future Lifestyle Fashion Ltd 1. Central 2. Brand Factory 3. Planet Sports Fashion and Lifestyle 1. Indigo Nation 2. Scullers 3. John Millers 4. Lombard Milestones 1987: The company is incorporated under the name of Manz Wear Private Ltd.Pantaloons, one of India's first formal trouser brands, is launched. 1991: BARE, an Indian denim brand is launched. 1992: Initial Public Offer (IPO) of shares by the Company 1994: The Pantaloons Shoppe, Future Group's exclusive menswear store in a franchisee format is launched across the nation. The company starts distribution of branded garments through multi-brand retail outlets across the nation. 1995: Future Group launches John Miller, a brand for Formal shirts. 1997: Future Group enters modern retail with the launch of the first 8000-sq. ft. store Pantaloons in Kolkata. 2001: Future Group launches three Big Bazaar stores within a span of 22 days in Kolkata, Bangalore and Hyderabad.
  56. 56. 56 2002: Food Bazaar, the supermarket chain is launched. 2004: Future Group launches India's first seamless mall, Central, in Bangalore. 2005: Future Group moves beyond retail and acquires a stake in Galaxy Entertainment, Indus League Clothing and Planet Retail.Future Group sets up Kshitij, India's first real estate investment fund, to build a chain of shopping malls. 2006: Future Capital Holdings, the group's financial arm, is formed to manage over $1.5 billion in real estate, private equity and retail infrastructure funds. Future Group enters into joint venture agreements to launch insurance products with Italian insurance major Generali.Future Group forms joint ventures with US office stationery retailer Staples. Home Town, the home building and improvement products retail chain, is launched along with consumer durables format Ezone and furniture chain Furniture Bazaar. 2007: Pantaloons Retail wins the International Retailer of the Year award at US-based National Retail Federation convention in New York, and Emerging Retailer of the Year award at the World Retail Congress held in Barcelona. Future Group crosses the $1 billion turnover mark. Specialized companies in retail media, logistics, IPR and brand development and retail-led technology services become operational. Online portal Futurebazaar.com becomes India's most popular shopping portal. 2008: Future Capital Holdings becomes the second group company to make a successful Initial Public Offering (IPO) in the Indian capital market. Total operational retail space crosses the 10 million square feet mark. Future Group acquires rural retail chain Aadhar from the Godrej Group, which has a presence in 65 rural locations. Big Bazaar crosses the 100-store mark, marking one of the fastest expansions of the hypermarket format anywhere in the world. 2009: Future Group celebrates its first Shopping Festival across all retail formats in key Indian cities. Future University starts its campuses in Ahmedabad, Bangalore and Kolkata to offer degree programs through a tie-
  57. 57. 57 up with IGNOU.Future Group partners with Hong Kong-based Li & Fung Group to strengthen its supply chain and logistics network across the country. 2010: Future Group launches its telecom brand T24 in partnership with Tata Teleservices to provide additional loyalty benefits to its customers. Future Group launches products in key FMCG categories through Sach, a brand co-created with Sachin Tendulkar. Future Group connects over 4000 small and medium Indian manufacturers and entrepreneurs with consumers. 2011: April 2011 – KB's Fair price celebrates opening its 200 stores in India. May 2011 – Future Supply Chains becomes ISO certified. 2012: On 1st May 2012, the company introduced a new retail initiative – Public Holiday Sale. Foodhall the premium lifestyle food destination launched its second store in Bengaluru on 4th May 2012.Big Bazaar redefined the concept of customer service with the launch of the Rajajinagar Family Centre in Bengaluru with its unique Seva initiative on 24th February 2012.Future Sharp Skills Ltd. launched its first skill centre in Kolkata with a vision to train and provide sustainable livelihood to five lakh youth of West Bengal by 2022.Pantaloons became the first retailer to introduce a reality hunt as it set out on a countrywide search for their next Fresh Face. Pantaloons launched its first store in Ludhiana, Visakhapatnam, Bilaspur.Future Group started Aadhaar Franchise.Future Supply Chains Express Logistics business became the fastest profitable Express Business in India Keeping pace with the ongoing trends Fashion@ Big Bazaar decided to reposition itself as fbb. Pantaloons joined hands with PAYBACK. Being India's largest and one of the strongest loyalty programs in Europe, PAYBACK offers were made available to all Pantaloons customers. Big Bazaar launched its home delivery services in Mumbai. 2013: Foodhall, the premium lifestyle food destination launched in Pune.Our fashion brand Central opens its new store in center Square Mall, Kochi.First batch of Future India Fellowship program started with 5 selected fellows across the country. The fellowship aims to create thought leaders of tomorrow. Future Group successfully introduced 'Big Bazaar Direct' an assisted shopping concept where franchises will sell Big Bazaar products through a catalogue on a 'tablet’. Future Group introduced brand new fashion format 'I am In' for trendy youth of the country. Big Bazaar introduced an exciting occasion for shopping 'April Utsav'.Future Group officially launched India's largest State of the Art Logistical Distribution Hub at
  58. 58. 58 Nagpur. Big Bazaar introduced a unique customer membership program 'Big Bazaar Profit Club. ‘Foodhall, the premium lifestyle food destination launched in New Delhi. Future Sharp, the Future Group arm that trains and develops the skills of youth opened its new skill centre in Nashik. 2014: Future Group partnered with the Fortune 500 Company and one of the largest online shopping destination, Amazon. Future Consumer Enterprises Limited acquired one of the India's oldest supermarket chains in India with origins dating back to 1905, Nilgiris. Future Supply Chain acquired New Delhi based processed- foods supply chain company, Brattle Foods. Future Group partnered with world's leading customer science company, dunnhumby for data analytics services Future Group announced its strategic tie-up with SAP company hybris that delivers Omni Commerce™: state-of-the-art master data management for commerce and unified commerce processes to its clients. India’s First Mega Food Park was inaugurated by India's Honourable PM Shri Narendra Modi at Tumkur Karnataka. Central completed its 10 glorious years of serving customers. HomeTown underwent a complete makeover with a new tagline, 'The Art of Better Living', logo and in-store branding. Future Group's premium food destination Foodhall launched in Saket, New Delhi. Big Bazaar and Ezone were voted as one of the Top 50 Most Trusted Brands in the country in the Brand Equity Survey 2013 conducted by Nielson. The survey also revealed that Big Bazaar is the 4th Most Trusted Service Brand of the country. Fbb ties up with India's largest Beauty Pageant Femina Miss India 2014.A New Generation Big Bazaar, Big Bazaar Family Centre was launched at Alcove in Kolkata on January 6, 2014. Big Bazaar is a chain of hypermarket in India. As of June 2, 2014 there are 244 stores across 97cities and towns in India covering around 16 million sq. of retail space. Big Bazaar is designed as an agglomeration of bazaars or Indian markets with clusters offering a wide range of merchandise including fashion and apparels, food products, general merchandise, furniture, electronics, books, fast food and leisure and entertainment sections. Big Bazaar is part of Future Group, which also owns the Central Hypermarket, Brand Factory, eZone, Hometown, futurebazaar.com.
  59. 59. 59 History Big Bazaar was launched in September, 2001 with the opening of its first four stores in Calcutta, Indore, Bangalore and Hyderabad in 22 days. Within a span of ten years, there are now 161 Big Bazaar stores in 90 cities and towns across India. Big Bazaar was started by Kishore Biyani, the Group CEO and Managing Director of Pantaloons Retail India. Though Big Bazaar was launched purely as a fashion format including apparel, cosmetics, accessory and general merchandise, over the years Big Bazaar has included a wide range of products and service offerings under their retail chain. The current formats includes Big Bazaar, Food Bazaar, Electronic Bazaar and Furniture Bazaar. The inspiration behind this entire retail format was from Saravana Stores, a local store in T. Nagar, Chennai .The stores are customized to provide the feel of mandis and melas while offering the modern retail features like Quality, Choice and Convenience. As the modern Indian family's favourite retail store, Big Bazaar is popularly known as the "Indian Wal-Mart". On successful completion of ten years in Indian retail industry, in 2011, Big Bazaar has come up a new logo with a new tag line: ‘Naye India Ka Bazaar’, replacing the earlier one: 'IsseSastaAurAcchaKahinNahin'. Lines of Business of the Above Store 1. E-tailing 2. Food 3. Fashion 4. Home Solution 5. General Merchandise 6. Leisure and Entertainment 7. Wellness and Beauty 8. Books and Music 9. Footwear 10. Electronics 11. Children Accessories 12 Crockery
  60. 60. 60 Operations Most Big Bazaar stores are multi-level and are located in stand-alone buildings in city centers as well as within shopping malls. These stores offer over 200,000 SKUs in a wide range of categories led primarily by fashion and food products. Food Bazaar, a supermarket format was incorporated within Big Bazaar in 2002 and is now present within every Big Bazaar as well as in independent locations. A typical Big Bazaar is spread across around 50,000 square feet (4,600 m2) of retail space. While the larger metropolises have Big Bazaar Family centers measuring between 75,000 square feet (7,000 m2) and 160,000 square feet (15,000 m2), Big Bazaar Express stores in smaller towns measure around 30,000 square feet (2,800 m2). Big Bazaar has the facility to purchase products online through its official web page, and offers free shipping on some of their product. Time Line 2001  Three Big Bazaar stores launched within a span of 22 days in Kolkata, Bangalore and Hyderabad. 2002  Big Bazaar - ICICI Bank Card is launched.  Food Bazaar becomes part of Big Bazaar with the launch of the first store in Mumbai at High Street Phoenix. 2003  Big Bazaar enters Tier II cities with the launch of the store in Nagpur.  Big Bazaar welcomes its 10 millionth customer at its new store in Gurgaon. 2004  Big Bazaar wins its first award and national recognition. Big Bazaar and Food Bazaar awarded the country’s most admired retailer award in value retailing and food retailing segment at the India Retail Forum.  a single day. 2005  Initiates the implementation of SAP and pilots a RFID project at its central warehouse in Tarapur .
  61. 61. 61  Launches a unique shopping program: the Big Bazaar Exchange Offer, inviting customers to exchange household junk at Big Bazaar.  Electronic Bazaar and Furniture Bazaar are launched  Big Bazaar and ICICI Bank launched ICICI Bank-Big Bazaar Gold credit card program to reward its loyal customers. 2006  Mohan Jadhav sets a national record at Big Bazaar Sangli with aRs 1, 37,367 shopping bill. The Sangli farmer becomes Big Bazaar’s largest ever customer.  Big Bazaar launches Shakti, India’s first credit card program tailored for housewives  Navaras – the jewellery store launched within Big Bazaar stores. 2007  The 50th Big Bazaar store is launched in Kanpur  Big Bazaar partners with Futurebazaar.com to launch India's most popular shopping portal  Big Bazaar initiates the "Power of One" campaign to help raise funds for the Save The Children India Fund  Pantaloons Retail wins the International Retailer of the Year at US-based National Retail Federation convention in New York and Emerging Retailer of the Year award at the World Retail Congress 2008  Big Bazaar becomes the fastest growing hypermarket format in the world with the launch of its 101st store within 7 years of launch  Big Bazaar dons a new look with a fresh new section, Fashion@Big Bazaar  Big Bazaar joins the league of India’s Business Super brands. It is voted among the top ten service brands in the country in the latest Pitch-IMRB international survey  Big Bazaar initiated the Mega Saving "Monthly Bachat Bazaar" campaign, to provide exceptional deals on groceries and food items during the first week of every month. 2009  Big Bazaar opens its second store in Assam at Tinsukia  Big Bazaar initiates MahaAnnasantarpane program at its stores in South India – a unique initiative to offer meals to visitors and support local social organizations
  62. 62. 62  Big Bazaar captures almost one-third share in food and grocery products sold through modern retail in India Mahendra Singh Dhoni and Asin, youth icons of India, were chosen as the brand ambassadors of Big Bazaar  Big Bazaar announced the launch of 'The Great Exchange Offer'  Formed a joint venture with Hidesign to launch Holii, a new brand of handbags, laptop bags and other accessories. 2010  Future Value Retail Limited is formed as a specialized subsidiary to spearhead the group’s value retail business through Big Bazaar, Food Bazaar and other formats.  Big Bazaar wins CNBC Awaaz Consumer Awards for the third consecutive year. Adjudged the Most Preferred Multi Brand Food & Beverage Chain, Most Preferred Multi Brand Retail Outlet and Most Preferred Multi Brand One Stop Shop.  Big Bazaar connects over 30,000 small and medium Indian manufacturers and entrepreneurs with around 200 million customers visiting its stores  Big Bazaar opens its third store in Kanpur at Z Square Mall  Big Bazaar opens its fourth store in Kanpur at Jajmau which is the largest leather tannery garrison of Asia  VidyaBalan was chosen as the brand ambassador of Big Bazaar's Price Challenge exercise  Ranked 6 among the Top 50 Service Brands in India. 2011  Big Bazaar forays into the rural wholesale and distribution business through ‘Aadhaar Wholesale’ store at Kalol, Gujarat.Big Bazaar has come up a new logo with a new tag line: ‘Naye India Ka Bazaar’. 200th store opened in India.  Future Group has launched its latest venture, Foodhall – a premium food destination across 10 metros in India .For the convenience of the online customers, Big Bazaar has started free shipping on all orders above Rs. 1000 .  Entered into an agreement with Hindustan Unilever to co-develop and co-brand bakery products, which would be sold exclusively at Big Bazaar stores. 2012  Big Bazaar entered into a five year multi-million dollar deal with Cognizant Technology Solutions for IT infrastructure services that support Future Group's network of stores, warehouses, offices, and data centers.  Partnered with Disney to launch "Kidz Cookies", exclusively for kids across India.
  63. 63. 63  Big Bazaar is planning to add further value to its retail services by offering Value added services like grinding, de-seeding, vegetables cutting at free of cost.

×