IndexObjectives of the StudyThe Scope of the StudyLimitation of the StudyMethodologySource of DataStore ManagementKey Responsibilities of Store ManagementBig BazaarOrganizational StructureMerchandisingMerchandising Classification Criteria: Competitor Analysis: Specific Insights of Big Bazaar, AmritsarSo the role of store should be: Objectives of the Study To understand the store management of Big Bazaar Amritsar To understand the functioning of various departments To enable us to gain detailed insights into the world of corporate retail The purpose of the study This report is based on the study conducted at Big Bazaar, Amritsar It aims to understand the company's business structure, organizational structure, departments, techniques, marketing strategies and its advantages over competitors. Limitations of the Study As per company rules, any information was not disclosed As managers are busy with their daily schedules, it is not possible for us to spend more time interacting and discussing with them. The time limit is an important constraint. Methodology Observing the work of various departments such as store management, checkout process, store staff and customer service, etc. Discuss with the store managers and employees A brief discussion with the Third Party Vendors working in the Big Bazaar Source of Data Primary Data: The primary source of data collection is mainly through observations of the functioning of various departments. By interviewing managers from various departments and with the help of staff members, the basis for this project is developed. Secondary Data: Data is collected through secondary sources such as company manual and website, product brochure, annual report. Store Management Store management is extremely crucial to ensure the smooth running of the store. It should be versatile and safe to pass on to the right customers. In this context, retailers should convey the latest personalized/modified offers and services and try to target each individual. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay The store management system carries out the operation of the store, uses the corresponding mechanical assembly line. It is important to see and understand how the store will meet customers' needs and meet their expectations. Consistency in executing across relevant product ranges, price points and service offerings is critical to running an effective and efficient business model. Some significant characteristics of retail operations that help a retail store in its operation and performance are as follows: Customer service and sales processStore staffing and schedulingRetail floor and shelf managementStore administrationWarehouse and SCMLoss preventionProcess checkoutVisual merchandising and displaysKey store management responsibilitiesFinalize and promote store-level agreements to achieve budgeted revenuesAnalyze category performance with category managers to ensure the correct product mix for the storeEnsure store facilities and atmosphere for customersTrack and reduce minimize shrink, damage and theft within normsEncourage retail salesA smooth cash management systemMonitor and monitor competition and benchmarking and initiate counter strategiesNew customer acquisitionsMaintain current customer baseBig BazaarFounded in 2001 by Kishore Biyani, Big Bazaar as a retail chainretail operating under the parent organization - Future Group - which holds significant prominence in the Indian retail and fashion sectors. Big Bazaar is one of the oldest hypermarket chains hosting around 250+ stores in the country. It covers three essential categories in Indian retail: home, food and fashion. Popular retail chains, such as Food Bazaar and FBB, form an integral part of Big Bazaar's identity. The latter (i.e. FBB) has grown exponentially to become a major brand that embodies fashion in India. Big Bazaar surpasses other stores for its value for money for Indian consumers. Big Bazaar ensures the best products at the best affordable prices. With the ever-increasing range of in-house brands, they have entered the world of fashion and general goods, including home furnishings, utensils, tableware, cutlery, sporting goods etc. Organizational structureVariety of product range at Big Bazaar:The big store includes everything that people of the middle income group need. It varies from groceries, clothing, accessories and clothing for all age groups. It also contains utility items, furniture, plastics and a much wider range of products. The added benefit of shopping for customers in the big bazaar is the discounts always offered on most of their products. It responds to every family need. With over 250 outlets in India, Big Bazaar is one of the fastest growing retail chains in the country. Merchandising The main function of a retail store is to sell products to its customers. Merchandising is a practice used to sell a product to retail consumers. One of the important features of the retail business is deciding the mix and quantity of merchandise to be purchased from the store. Through the merchandising process, a retailer offers the right quantity and quality of product at the right place and time to achieve the company's financial goals. Merchandise management is a combination of a number of jobs. Planning involves sourcing merchandise well in advance for the selling season. Control involves designing the work to determine whether the objective has been achieved or not. If it deviates from regular work, we need to monitor it and keep it on track. The merchandising mix is used to represent the range of products offered at retail to the target customer base. Developing the mix is useful for the retailer to better attract its target customer. The number of different product items is represented by the assortment of products within a particular product line. Merchandising Classification Criteria: Unit Product Value Repeated Consumption Shopping Frequency Customer Services Changes in Fashion Complex Technology Creating Consumer Value SWOT Analysis Strengths: Big Bazaar Offers Every Day Low Prices (EDLP) History very strong retail experience and experience Experienced in-house staff and marketing team Store promotion Strong ethics and core values of the parent group Customer satisfaction level is very high for existing customers Brand value High diversity of staff under the same roof State-of-the-art infrastructure in every storeEmployee satisfaction rate is quite goodWeakness:Turnover per square meter is lowFrequency of store opening is not up to expectationsCustomers' perception of the store is cheapMost popular branded products are not available in the storeOpportunity:With the increase in population, the size of the retail market is also increasingConsumer preferences change every other day Retail presence is only 5% in the country, a great opportunity to open stores across the world Huge untapped market Income of common people rising Better living standard of people Threats: Strong competition Growth rapid and advancements in the field of technologyHuge number of unorganized retail storesTo cope with changes in government policiesForeign direct investment in Indian retail sectorCompetitor Analysis:1) Reliance Fresh:These stores sell fresh fruits and vegetables, staple foods , groceries, fresh juices, bars and dairy products. They already have 1600 stores spread across India and Reliance plans to spend more than $250 million on the expansion of these stores. Since the products offered are inferior to those of the big bazaar, it is not exactly a competitor of the big bazaar, but Reliance has attracted many customers to purchase daily groceries due to the perception that their products are fresher and that the stores are located in a convenient location and therefore could pose a serious threat in the future. 2) D-Mart: It is a chain of hypermarkets and supermarkets in India. It is distributed across 141 locations in India. It offers products such as food and basic necessities, home and personal care, dairy and frozen products, daily groceries, stationery, clothing and the luggage and stationery section. The offering is somewhat similar to Big Bazaar but with frequent discounts and affordable prices, it has become a major competitor to Big Bazaar to attract price-sensitive customers.3) Wal-Mart India: Wal-Mart India operates 21 Best Price modern wholesale shops. It offers around 5,000 items in Cash & Carry wholesale format. Best Price stores offer the best prices with unrivaled convenience, choice, quality and hygiene. They have already managed to establish the back-end supply chain in India as per the guidelines of the Government of India. Everyday shoppers cannot purchase a membership to Best Price stores or the e-commerce platform, however, it is meant to help small grocery stores thrive. 4) Small Kiranas: There are around 12 million Kiranas in India, each serving 500 people. to 10,000 families in their respective service areas. The reason why hypermarkets and organized supermarkets have not managed to make their market disappear is that of their loyal customers. They offer products like groceries, stationery, dairy products. The main advantage of these stores is their proximity to customers and the fact that they can extend credit offers to their customers. Specific Insights on Big Bazaar, AmritsarBig Bazaar was opened in March 2016 at Trillium Mall AmritsarThere are 130 employees at Big Bazaar. There are also several third-party sellers from different brands who assist customers. The total size of the store is 36,000 square feet. including the warehouse. 30,000 square feet are dedicated to the store alone. The fixed space allocation is given to the particular section when the store opens, so the only minor change is made by the Visual Merchandiser. Centrally all offers and loyalty programs are established by the company. Music or Radio “Big Bazaar”, even the songs played are fixed and decided centrally by the company. Every Big Bazaar has the same products. No localization is allowed. The number of SKUs depends on the size of the store. Recruitment: When the store opens, recruitment is done through newspaper advertising. After some time they receive a resume in the shop for almost all jobs. It also uses online recruitment for some specific profiles. Prevention of contractions: EAS technology for.
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