22-05-2012, 12:41 PM
MERCHANDISING PHILOSOPHY OF - “BIG BAZAAR”
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INTRODUCTION:
Retailing involves all activities incidental to selling to ultimate consumer for their personnel family and household use. It does this by organizing their availability on a relatively large scale and supplying them to a customer on a relatively small scale. Retailer is any person/organization instrumental in reaching the goods or merchandise or services to the end users. Retailer is a must and cannot be eliminated.
The Indian retailing industry is becoming intensely competitive, as more and more payers are Vying for the same set of customers. The major retail players are Pantaloon Retail, Shoppers Stop, Reliance etc.
Retailing is one of the biggest sectors and it is witnessing revolution in India. The new entrant in retailing in India signifies the beginning of retail revolution. India's retail market is expected to grow tremendously in next few years. According to AT Kearney, the’ Windows of Opportunity’ shows that Retailing in India was at opening stage in 1995 and now it is in peaking stage in 2006. 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. India ranks first in 2005. In fact, in 2005 and 2006, India is the most compelling opportunity for retailers, because now India is in peaking stage.
COMPANY PROFILE
BIG BAZAAR
Pantaloon Retail (India) Limited, is India’s leading retailer that operates multiple retail formats in both the value and lifestyle segment of the Indian consumer market. Headquartered in Mumbai (Bombay), the company operates over 7 millions square feet of retail space, has over 1000 stores across 53 cities in India and employs over 25,000 people.
The company’s leading formats include Pantaloons, a chain of fashion outlets, Big Bazaar, a uniquely Indian Hypermarket chain, Food Bazaar, a supermarket chain, blends the look, touch and feel of Indian bazaars with aspects of modern retail like choice, convenience and quality and Central, a chain of seamless destination malls. Some of its other formats include, Depot, Shoe Factory, Brand Factory, Blue Sky, Fashion Station, all, Top 10, bazaar and Star and Sitara. The company also operates an online portal, futurebazaar.com.
Big Bazaar is not just another hypermarket. It caters to every need of your family. Where Big Bazaar scores over other stores is its value for money proposition for the Indian customers.
FUTURE GROUP:
Future group is one of the country’s leading business groups present in retail, asset management, consumer finance, insurance, retail media, retail spaces and logistics. The group’s flagship company, pantaloon Retail (India) Limited operates over 7 million square feet of retail space, has over 1000 stores of its leading retail formats include, Pantaloon, Big Bazaar, Central, Food Bazaar, Home Town, Ozone, Depot, future Money and online retail format, futurebazaar.com.
Future group includes, Future Capital Holding, Future Generally India Indus league clothing and Galaxy Entertainment that manages sports Bar, Brew Bar and Bowling Co. Future Capital Holding, the group ‘s financial arm, focuses on asset management and consumer credit. It manages assets worth over $1 billion that are being invested in developing retail real estate and consumer-related brands and hotels.
The group’s joint venture partners include Italian insurance major, generally. French retailer ETAM group. Us-based stationery products retailers, Staples Inc. and UK-based Lee Cooper and India-based Talwalkar’s, Blue Foods and Liberty Shoes.
Future Group’s vision is to, “deliver Everything, Everywhere, Every time to every Indian consumer in the most profitable manner.” The group considers” as a core value and its corporate credo is- Rewrite rules, Retain values.
ADDRESS OF BIG BAZAAR AT MAGNETIC SQUARE:-
Big Bazaar :: Maruti Mall :: Bhubhaneshwar
Address : Maruti Mall, Near KIIT Square, Patia, Bhubaneswar
Pincode: 751024
State : Orissa
Phone : 0674 - 272 5898 / 99
THE STRATEGY:-
Savings is the key to the Indian middle class consumer.
The Concept of Big Bazaar as the store offers large mix of products at a discounted price, the name “Big Bazaar” was finalized.
The idea was to recreate a complete bazaar, with a large product offering & offer a good depth & width in terms of range.
Price was the basic value proposition at Big Bazaar
Big Bazaar outlets sold a variety of products at prices; which were 5 to 70% lower than the Market Price.
The catch line “Is se sasta aur kahi nahi” emphasized the value of the Mall