Big bazaar


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Big bazaar

  1. 1. MarketThe retail industry is one of the biggest moneyspinners in the world, notching up US$ 6.60trillion (Rs. 2.64 crore crore) in turnover(Source: Euromonitor Study). In India the sectoris worth Rs. 720,000 crore (US$ 180 billion)growing at between 11% and 12% annually(Source: CII-McKinsey Report).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 Reporton India’s Retail Industry).This is by far thelowest in the world and even far belowcomparable countries 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 feelof Indian bazaars with thecomfort, 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 andHaldia. 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 jewellery and even valueadded services like consumer credit, beautysalons, gyms and travel 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 everexpansion 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 isnow the preferred shoppingdestination. From Panipat to Pallakad,Big Bazaar’s 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 and2007, 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 theReader’s 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 customers26 SUPERBRANDSBusiness Superbrands- 2nd edition(Main) 8/27/08 3:15 AM Page 26
  2. 2. 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. Within 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 – men’s casual wearrange and Knighthood – men’s 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 andD’tachi, a luggage label that offers outstandingvalue for money.Big Bazaar hasalso tied up with ahost of well-knowbrands which offerexclusive linescreated especiallyfor the store.Theseinclude Levis, LeeCooper, Wranglerand Disney.RecentDevelopmentsBig Bazaar, a partof the FutureGroup, is currentlydriving a number ofinitiatives. FutureMoney, a creditfacility is in anexperimental stage in several outlets. Cleartripfor travel and tours and Talwalkar’s 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 creditedwith 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, India’s Independence Day isbilled 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 Bazaar’s value propositionof Is se sasta aur accha kahin nahi.Thescheme 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 ferry 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 whereit is on display.To make sure that non-English speakingcustomers don’t 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 comfortare at the core of Big Bazaar’s 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 Jholi connects with thecustomers at an emotional level positioningBig Bazaar as part of the happy moments.www.pantaloon.comTHINGS YOU DIDN’T KNOW ABOUTBig Bazaar27SUPERBRANDS2 million customers walk-in each week intoBig Bazaar storesCollectively, Big Bazaar stores cover nearly 4million square feet of spaceIn three days between January 25 and January27 2008, Big Bazaar sold over 100,000 pairs ofJeans and 200,000 shirtsBig Bazaar has a base of over 1 million loyaltycard membersMore than 160,000 products are sold atBig Bazaar storesBusiness Superbrands- 2nd edition(Main) 8/27/08 3:15 AM Page 27