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Customer Loyalty programs - Future Retail Big Bazaar
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- 2. CONTENTS Industry Profile Company Profile Objectives WorkUndertaken Key learnings 2
- 3. Industry Profile -Retail Industry RETAILING: Selling of goods and services to consumers for their personal or family use. Second largest sector & accounts for over 10% of our country’s GDP. 5th largest retail market. REASONS FOR GROWING RETAIL MARKET IN INDIA: Growth of Consumers Working Population Income Structure Value For Money Technological Impact Retail Sector Organised Departmental Store Supermarket Hypermarket Unorganised 3
- 4. Company Profile -Future Retail Future Retail is the flagship company of Future Group - India’s retail pioneer. Retail supermarket/hypermarket chains Big Bazaar, FBB, Food Bazaar, Food Hall, Hometown etc. Serves customers in more than 240 cities across the country Over 330 million customers As India’s leading retailer, Future Retail inspires trust through Innovative offerings, Quality products and Affordable prices 4
- 5. Big Bazaar Majorretail format Favorite shopping destination for millions of its consumers It’s success is a testament to the emotional bonding it has established with the Indian consumers on account of its Value offerings, Inspirational appeal and Service levels 5
- 6. Organization Structure STORE MANAGER ASSISTANT STORE MANAGER DEPUTY MANAGER ASSISTANT DM TEAM LEAD TEAM MEMBER CSD MANAGER HRMANAGER VISUAL MERCHANDISING ASSISTANT VM ADMINISTRATION MAINTENANCE HOUSEKEEPING INFORMATION TECHNOLOGY SECURITY MARKETING SALES MANAGER CASHIER 6
- 7. Need For CustomerLoyalty Programs A loyalty program is a reward program offered by a company to customers who frequently make purchases. Customer acquisition Customer retention Customer lifetime value ROI 7
- 8. Loyalty Programs • BigBazaar2001 • Wednesday Bazaar2007 • The Great Exchange Offer2008 • Maha bachat Offer2009 • T242010 • Payback Card2011 • Big Bazaar Profit Club2013 • Young Elders Card2016 • Savings Club card2017 8
- 9. Profit Club CardPayback card Young Elders Card 9
- 10. Objective Of TheStudy To understand various issues pertaining to different Customer Loyalty programs at Big Bazaar. 10
- 11. Issues 1. Data integration Lack of integration across channels 11
- 12. Issues 2. Low AdoptionRate Customer Loyalty Cards – Inactive 3. An Emphasis On Discounting Devalue Products 4. Delays At The Point Of Sale Digital Loyalty Programs – Difficulty in Integration of transaction & loyalty data 5. Irrelevant marketing communications Blasting loyalty members with irrelevant messaging 12
- 13. Work Undertaken Based onthe observation in the Customer service department various information on Loyalty programs were obtained. Understood various issues of customer loyalty programs. Handling queries of Customers about Different Loyalty Programs New Offers & Promotional Campaigns Future pay wallet application Assistance in the activation of loyalty cards for the customers - Payback card, Profit club card, Savings club card, Young elders card & gift vouchers. 13
- 14. Key Learnings From theorganizational study of Loyalty programs the following are the key takeaways, Ensuring Customer Loyalty - Crucial factor impacting sales. Increased referrals from existing customers attracts New Customers (Customer Acquisition) Understanding Customer’s buying pattern & Enhancing Customer life time value - Customer Retention It is important to move forward from short term promotional campaigns to a well defined Customer focused relationship oriented programs. Product availability and customer service are two additional drivers proven to achieve the elusive goal of customer loyalty. 14
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