Last Updated 28 Jan 2021

Big Bazaar Report

Category Bazaar, Retail, Shopping
Essay type Report
Words 1917 (7 pages)
Views 639
Table of contents

INTRODUCTION

Big bazaar is a hyper market chain owned by the Pantaloons Retail India Limited, with currently more than 50 outlets in metros, medium, and small cities. Big Bazaar combines the look and feel of Indian bazaars with aspect of modern retail like choice, convenience, and hygiene. It works on the same economy model like Wal Mart, and has had considerable success in many Indian cities and small towns. The idea was pioneered by entrepreneur Kishore Biyani, the head of Pantaloons Retail India Limited. Big Bazaar is not just another hyper market, 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 . At Big Bazaar, you will definitely get the best products at the best prices - That is what they guarantee. With the ever increasing array of private labels, it has opened the doors into the world of fashion and general merchandise including home furnishings, utensils, crockery, cutlery, sports goods and much more at prices that will surprise you. And this is just the beginning. Big Bazaar plans to add much more to complete your shopping experience. Living up to its motto of  Isse sasta aur accha kahin nahi” All products in Big Bazaar will be available at prices lower than the MRP, often up to 60% discount. In addition to this, various offers, discounts and promotions will be regularly held at the store. The consumer will experience a new level of standard in price, convenience and comfort, quality, quantity, and store service levels. BIG BAZAAR in its true hyper market model will offer all of the above for both leading brands and also for its private labels. There are many types of retail format available in India like grocery store to mall.

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They have different types of market for the business. Among of all this format of retail big bazaar is the successful retail format in Indian retail industry. In past Indian customer only familiar with the nearby convince store but day to day innovation and customer awareness. Now in a day’s customer are more aware about shopping. Kishor biyani create a bench mark in Indian retail industry by entering in Indian retail business. Big bazaar is one of them format of future group. Big bazaar deal with all kind of human being products starting from children to adult.

Products are selling by the big bazaar like Grocery, plastic, electronics, apparels, footwear, food etc. Mainly these sections are there in big bazaar: * Food Bazaar: Different departments Of Food Bazaar are as follow:

  • Vegetable
  • Chill Station
  • Golden Harvest
  • Head To Toe
  • Fruit
  • Ready To Eat
  • General Merchandise

In General Merchandise  Department different departments are as follow:

  • Crockery
  • Plastic
  • Utensil
  • Home leanon
  • Electronics
  • Depot
  • Stationery
  • Mobile
  • Apparels

In Apparels Department different departments are as follows:

  • Footwear
  • Mans and ladies accessories Toys
  • Kid’s ware
  • Men’s ware
  • Ladies ware
  • Imitation jewellery

The heart of the big bazaar is its ware house. Operation is start from the ware house. It is very important part of entire big bazaar process. “Is se sasta aur accha kahin nahi” punch line of the big bazaar suggest itself that good quality at lowest price products are sell by the big bazaar There are 89 BIG BAZAAR are available in india. 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.

At Big Bazaar, you will definitely get the best products at the best prices - that’s what they guarantee. With the ever increasing array of private labels, it has opened the doors into the world of fashion and general merchandise including home furnishings, utensils, crockery, cutlery, sports goods and much more as mentioned above at prices that will surprise you. And this is just the beginning. Big Bazaar plans are to add much more to complete your shopping experience.

TIMELINE

2001 Three Big Bazaar stores launched within a p 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 million-th 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 day before Diwali, the store at Lower Parel becomes the first to touch `. 10million turnovers on a single day.

2005 Initiates the implementation of SAP and pilots a RFID project at its central warehouse in Tarapur. 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.

2006 Mohan Jadhav sets a national record at Big Bazaar Sangli with a `. 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. Pantaloon 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 held in Barcelona.

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.

2009 Big Bazaar initiates Maha Annasantarpane program at its stores in South India,  a unique initiative to offer meals to visitors and support local social organizations. Big Bazaar captures almost one-third share in food and grocery products sold through modern retail in India. 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 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.

ORGANISATIONAL STRUCTURE AT BIG BAZAAR

BIG BAZAAR MANIFESTO (Future Group) “Future” – the word which signifies optimism, growth, achievement, strength, beauty, rewards and perfection. Future encourages us to explore areas yet unexplored, write rules yet unwritten; create new opportunities and new successes. To strive for a glorious future brings to us our strength, our ability to learn, unlearn and re-learn, our ability to evolve. In Future Group will not wait for the Future to unfold itself but create future scenarios in the consumer space and facilitate consumption because consumption is development.

Thereby, it will effect socio-economic development for our customers, employees, shareholders, associates and partners. Group vision Future Group shall deliver Everything, Everywhere, Every time for Every Indian Consumer in the most profitable manner. Group mission They share the vision and belief that their customers and stakeholders shall be served only by creating and executing future scenarios in the consumption space leading to economic development. They are infusing Indian brands with confidence and renewed ambition. They are efficient, cost- conscious and committed to quality in whatever they do.

They ensure that their positive attitude, sincerity, humility and united determination shall be the driving force to make us successful.

RECENT CHANGE IN RETAIL SECTOR

March 21, 2013, ET The government plans to significantly liberalize Foreign Direct Investment (FDI) norms for single-brand retail to attract big bucks into the sector. The Finance ministry has asked the Department of Industrial policy and Promotion (DIPP) to amend the policy to allow single-brand retailers to bring different brands belonging to the same product line under one company.

It has also asked DIPP - the government department that frames foreign investment rules in the country - to allow these retailers to sell different brands in the same store. A government official said the wordings of the present guidelines prevent, for example, a foreign high-street retailer from selling men's and women's clothes in the same store if their brand names are different. Moreover, the retailer needs to submit two different proposals under two different companies if it wants to sell both men's and women's apparel. If the same owner has an identical product line under a different brand name, why should he be required to set up a different company," said a government official privy to the thinking of the finance ministry. The Foreign Investment Promotion Board, or FIPB, the inter-ministerial body that approves FDI proposals in the country, has received 63 proposals from single-brand retailers after FDI was allowed in the sector. While the rush of applications clearly signals the interest of foreign investors in the sector, most retailers want the policy to clearly allow them to sell their different brands in the same store. Any policy has to have that dynamism to address the requirements of the changing business requirement," said the official quoted earlier. Independent experts welcomed the government rethink on the issue. "Ownership of several brands by an investor does not make it a multi-brand retailer... The requirement to have separate companies for each brand merely creates incremental compliance and inefficiency of operations through multiple companies," said Akash Gupt, executive director, PricewaterhouseCoopers.

Several retailers such as Gap and Louis vuitto own multiple brands under a single company or investment group. Gap Inc. owns the Old Navy, Banana Republic, Piper lime and Athleta apparel brands besides the flagship Gap brand. Similarly, Louis Vuitton owns Fendi and Labelux owns Jimmy Choo and Belle. The government raised the FDI limit in single-brand retail to 100% in January 2012. The single-brand investment norms have already been tweaked once after Swedish furnishing major IKEA sought several changes while proposing its `. 0,000-crore investment. DDIP did away with the mandatory 30% sourcing requirement from small industries and also said the brand need not be owned by the investing company. Any entity with a valid agreement to sell the brand in India could seek a license under the policy. The government is keen to attract FDI as it will help it bridge the large current account deficit, and is taking measures to make the regime friendlier for foreign investors. It has decided to review and possibly abolish FDI caps in many sectors.

FUTURE PLANS MUMBAI

Retail baron Kishor Biyani K Radhakrishnan has handpicked to drive a massive scale-up of his neighborhood stores chain KB's Fair Price, which he hopes will be as influential as Big Bazaar in a couple of years. Radhakrishnan, 54, who has been Future Fresh Food president, will now take over as the CEO of KB's Fair Price, which plans to open more than 1,000 outlets in the next two years in Delhi, Mumbai and Bangalore, up from around 200 stores at present.

AIMS AND OBJECTIVES

  • To study the services of Big Bazar.
  • To know the customers satisfaction level.
  • To know the expectation of customers.
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Big Bazaar Report. (2017, Jan 08). Retrieved from https://phdessay.com/big-bazaar-report/

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