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MarketThe retail industr y is one of the biggest moneyspinners
in the wor ld, notching up US$ 6.60tr illion (Rs. 2.64 crore crore)
in turnover(Source: Euromonitor Study). In India the sectoris wor
th Rs. 720,000 crore (US$ 180 billion)growing at between 11% and
12% annually(Source: CII-McKinsey Repor t) .
Despite its massive size,the business is almostentirely
controlled by the unorganised sector.While organised retail makes
up 70% to 80% ofall retail business in developed countries,in
Indiait is pegged at a lowly 2% (Source: Crisil Repor ton Indias
Retail Industry).This is by far thelowest in the world and even far
belowcomparable countr ies in Asia.In China,organised retailing
accounts for 20% of allbusiness,while in Indonesia it is 25%,
inPhilippines 35%, in Thailand it is pegged at40% and in Malaysia
it is reputed to be 50%(Source: Euromonitor Study).
Big Bazaar is credited with bringing organisedmega retailing to
India.The project wasconceived as a uniquely Indian hypermarket in
aformat that combined the look, touch and feel
of Indian bazaars with thecomfor t, convenience andquality that
modernretailing brings. Launched inAugust 2001, Big Bazaar hasnow
become the iconicdestination of modernretailing for all sections
ofIndian consumers.There are80 Big Bazaar stores in 45cities
includingsmaller townslike Sangli,Durgapur,Panipat,
Palakkad,Ambala, Meerut,Kolhapur and
Haldia.Attracting over 100 millioncustomers every year, it
hasdemocratised shopping in India andbecome synonymous with
greatpromotions that offer qualityproducts at affordable
prices.
Spread over anywherebetween 30,000square feet and150,000
squarefeet of retail space,a typical Big Bazaarstore offers
over160,000 productsacross categorieslike
apparel,generalmerchandise, food,cosmetics,home needs,electronics,
furniture,communications,books,music, gold and pearl jeweller y and
even valueadded services like consumer credit , beautysalons, gyms
and tr avel services.
On a typical weekend evening, a Big Bazaarstore plays host to
over 10,000 customers
from moms along with their demanding kids tosenior citizens with
their grand children in tow.Built on an inclusive platform that
welcomesconsumers from all socio-economic strata,a visitto Big
Bazaar is not only about shopping butalso about spending quality
time with the family.
AchievementsBig Bazaar is helping India make up lost time. Itis
currently in the midst of the fastest ever
expansion of ahypermarketformatanywhere inthe world.
From 30 storesin June 2006,Big Bazaar willbe emblazonedon 120
newstores byJune 2008.
There couldbe several ways of measuringsuccess of a retail
chain.However, if figures were tobe taken as the mostauthentic
claim of havingarrived, then Big Bazaar isalready there. For
morethan 100 million peoplewho walk past its billingcounters, each
year, it is
now the preferred shoppingdestination. From Panipat to
Pallakad,
Big Bazaars tagline, Is se sasta aur accha kahinnahi is a source
of cheer and happiness.
This has been recognised by the numerousawards that Big Bazaar
has won in the pasttwelve months.The brand has been adjudgedthe
Best Value Retail Store and Best RetailDestination at the Images
Retail Forum forfour consecutive years, beginning 2004.CNBCAwaaz,in
association with ACNielsen-ORGMarg,which conducts a study across
21major cities and some 10,000 consumers,on their most preferred
brands, has votedoverwhelmingly for Big Bazaar.Both in 2006 and
2007,Big Bazaar won the Consumer Award forthe most preferred
large, food and grocerystore. It won the award for Value Retailing
andRetail Destination of the Year by Reid & Taylorin 2006 and
in the same year also won theReaders Digest Platinum Trusted Brand
Award.
HistoryThe first Big Bazaar store, with an area of about24,000
square feet, opened on VIP Road,Kolkatain August 2001.This was
followed by stores inHyderabad, Bangalore, Mumbai and Gurgaon.The
initial categories on offer were apparel,general merchandise and
food. Later, severalbrands from categories like electronics,
furniture,music, communications and books were addedto the bouquet
of products.
Big Bazaar implemented SAP in 2005 to runits stores in the most
efficient manner thattechnology could provide.
With an increasing number of customers
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patronising its stores, it was time for Big Bazaarto reach out
to them.To pay tribute and to tellthem how much they were
appreciated,Big Bazaar launched a co-branded credit card.
Inassociation with ICICI bank, the Big Bazaar-ICICIBank credit card
made its first appearance inMay, 2002.
As an extension of its customer relationshipinitiatives it also
launched Shakti, a credit cardfor housewives, in February 2006.The
card wasunique, for it required no proof of income.Today the Big
Bazaar-ICICI Bank co-brandedcard is one of the largest loyalty
credit cardprogrammes in the country.
Big Bazaar is now an agglomeration ofmultiple, carefully chosen
categories andbrands.W ithin the store,BigBazaar has createdseveral
sub categories:Depot is its books andmusic section; Staplesoffers
office stationeryproducts while Star &Sitara is a beauty
salon.Future Money providesconsumer credit forproducts purchased
withinBig Bazaar.
ProductWith a better understandingof consumer behaviour
acrossvarious cultures and classes,Big Bazaar has put together
astunning range of over 160,000 SKUs. Privatelabels of Big Bazaar
are among the largestapparel and fashion brands in the
country.These include, DJ&C mens casual wearrange and
Knighthood mens formal wearrange; Pink & Blue are exclusive
garmentsdesigned for modern kids; Srishti, a label ofethnic wear
for women;Haute N Spicy,
fashionable western wear for teenage girls;Dreamline, a label
that caters to an entirerange of home linen, utensils and crockery
andDtachi, a luggage label that offers outstanding
value for money.Big Bazaar has
also tied up with ahost of well-knowbrands which offerexclusive
linescreated especiallyfor the store.Theseinclude
Levis,LeeCooper,Wranglerand Disney.
Recent
DevelopmentsBig Bazaar,a partof the FutureGroup, is
currentlydriving a number ofinitiatives. FutureMoney, a
creditfacility is in an
experimental stage in several outlets.Clear tr ipfor travel and
tours and Talwalkars for gym andhealth club services have also been
launched inmany stores recently.With a view to bringingvalue to
more people, Big Bazaar is taking itsbrand to Tier II and Tier III
towns as well.BigBazaar is also using the huge footfalls to
itsstores to test new conceptsand ideas.The customerresponse this
generateshelps in refining a launchbefore a full fledgedroll
out.
PromotionBig Bazaar has been credited
with some of the biggest consumercampaigns in the history of
Indian retail.
In celebration of Republic Day, Big Bazaarcreated a three-day
shopping bonanza calledSabse Saste Teen Din.This has now become
anational event that attracts millions ofcustomers eager to benefit
from the once-in-a-year smart deals.In January 2008, the
three-dayevent generated sales worth over Rs. 240 crore(US$ 60
million) in 80 Big Bazaar stores.
15th August, Indias Independence Day is
billed as the Maha Savings Day. So successful hasthis become
that to cater to the rush Big Bazaarstores in many cities stay open
till midnight.
Wednesday Bazaar is the Hafte ka SabseSasta Din. It was
initially created withthe intent of decongesting weekendsand
driving footfalls on weekdays.As ittranspired, most Big Bazaar
storesnow attract as many customers onWednesdays as they do on
weekends.
A property that offers specialbenefits and privileges to
seniorcitizens was built around SeniorCitizens Day.
Price Challenge was created toreinforce Big Bazaars value
propositionof Is se sasta aur accha kahin nahi.The
scheme simply offers twice the pricedifference should the cost
of an itemat a Big Bazaar store be found to bemore than the market
price.
Exchange was an innovative promotionlaunched by Big Bazaar in
2005 to providecustomers an opportunity to get rid of theirjunk and
in return shop for a wide range ofproducts at a discount.
In-store communications in Big Bazaar areunique and rather
novel.To ensure that no onemisses out on an opportunity to gain
fromspecial offers, service boys ferr y around a trolleywith the
product inside,announcing the scheme.Not only is this entertaining
it also helpscustomers pick up the product from thetrolley instead
of walking up to the rack where
it is on display.To make sure that non-English speaking
customers dont feel alienated thecommunication is also conducted
in thelocal language.The communication is alwaysunambiguous and
direct.
Brand ValuesBrand Big Bazaar stands for delivering value
formoney. Customer service and shopping comfor tare at the core of
Big Bazaars philosophy.Innovation and initiative define its
brandcharacter. It strives to reach out to its customersby imbibing
the local flavour and melting intothe local geography.
Big Bazaar has recently launched a campaigntitled Power of
One.This initiative encouragescustomers to add One Rupee to their
billtowards donation to a social cause. Big Bazaarmakes an equal
contribution and donates theentire proceeds to an NGO called Save
theChildren India.This is a selfless body which hasbeen working for
the welfare of children frommarginalised sections of society.
Big Bazaar has recently launched a corporatecampaign which
revolves around a family havinga great time together.The brand
anthemKhushiyon se Bhari Jholiconnects with thecustomers at an
emotional level positioningBig Bazaar as part of the happy
moments.
www.pantaloon.com
THINGSYOU DIDNT KNOW ABOUT
Big Bazaar
27SUPERBRANDS
2 million customers walk-in each week intoBig Bazaar stores
Collectively,Big Bazaar stores cover nearly 4million square feet
of space
In three days between January 25 and January27 2008, Big Bazaar
sold over 100,000 pairs ofJeans and 200,000 shirts
Big Bazaar has a base of over 1 million loyaltycard members
More than 160,000 products are sold atBig Bazaar stores
