Big Bazaar

GROUP 1 Aditya Waghela 25 Sanika Raut 62 Mehul Bari 81

Introduction Big Bazaar is an Indian retail chain of hypermarkets, discount department stores, and grocery stores. The retail chain was founded by Kishore Biyani under his parent organization Future Group, which is known for having a significant prominence in Indian retail and fashion sectors. Big Bazaar is also the parent chain of Food Bazaar, Fashion at Big Bazaar. It covers three essential categories in Indian retail: home, food, and fashion. Currently it has 250+ stores in over 120 cities and towns across the country. Big Bazaars journey began in October 2001, when the young, first generation entrepreneur Kishore Biyani opened the country’s first hypermarket retail outlet in Kolkatta (then Calcutta). In the same month, two more stores were added one each in Hyderabad and Mumbai, thus starting on a successful sojourn which began the chapter of organized retailing in India. Mr. Kishore Biyani said, they initially decided to name the format as Bazaar because they had designed the store keeping the Indian mandi style in mind. Since the size of the hypermarket was big than an average mandis, the thought came to name it as Big Bazaar. However, they had freezed on the punch line Isse Sasta Aur Achha Kahi Nahi much before the final logo of Big Bazaar https://en.wikipedia.org/wiki/Big_Bazaar

Evolution Though, Big Bazaar was started purely as a fashion format including apparel, cosmetics, accessory and general merchandise, the first Food Bazaar format was added as Shop-In-Shop within Big Bazaar in the year 2002. Today, Big Bazaar, with its wide range of products and service offering, reflects the aspirations of millions of Indians. The journey of Big Bazaar can be divided into two phases one pre and the other post January 26th, 2005, when the company rewrote the retail chapter in India, with the introduction of a never-before sales campaign Sasbe Sasta Din. In just one day, almost the whole of India descended at various Big Bazaar stores in the country to shop at their favorite shopping destination. Further, what followed was the time and again rewriting of the Indian Retail experience, wherein understanding of the Indian consumers reflected in the products and services offered, creating innovative deals, expanding in the tier II and tier III towns, tying up with branded merchandise to offer exclusive products and services to its customers. Big Bazaar is present today in 59 cities and occupying over 5 million sq.ft. retail space and driving over 110 million footfalls into its stores. The format is expecting the number of footfall in the stores to increase by over 140 million by this financial year. Over the years, Mr. Biyani for his vision and leadership, and Big Bazaar for its unique proposition to its customers, have received every prestigious consumer awards both nationally and internationally.

https://www.quora.com/What-is-the-Big-Bazars-history

Key Milestones of Big Bazaar • • • • • • • •

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2001 - Pantaloon Retail launches three Big Bazaar stores within a span of 22 days in Kolkata, Bangalore and Hyderabad. 2006 – Big Bazaar launched India's most popular shopping festival: Sabse Sasta Din on 26th January 2007 - Big Bazaar partnered with Futurebazaar.com to launch India's most popular shopping portal 2008 - Big Bazaar dons a new look with a fresh new section, Fashion@Big Bazaar 2009 - Big Bazaar captured almost one-third share in food and grocery products sold through modern retail in India 2011 - Big Bazaar completed 10 glorious years and came up with a new brand identity and tagline Naye India ka bazaar 2012 - Keeping pace with the ongoing trends Fashion@ Big Bazaar decided to reposition itself as fbb 2014 - Big Bazaar and Ezone were voted as one of the Top 50 Most Trusted Brands in the country in the Brand Equity Survey 2013 conducted by Nielson. The survey also revealed that Big Bazaar is the 4th Most Trusted Service Brand of the count 2018 - Big Bazaar dropped prices of 1,500 Everyday Items with the 'Har Din Lowest Price' Promise https://futureretail.in/about-us/milestones.aspx

Organization Structure

Categories Offered

Home needs

Grocery

Fruits & Vegetables

Beverag es

Personal Care

Kids & Utilities

Home Needs: Cleaning accessories, Cookware, Detergents, Electricals, Festive decorative, Kitchen & Dining, Shoe Care, Stationary, Toilet & floor Cleaners, Travel accessories etc. Grocery Staples & more Biscuits & snacks, Dry fruits, Health Drinks, Oil & Ghee, sauces jams, Salt, Sugar etc. Fruits & Vegetables: Exotics vegetables, Juices & energy drink, Mineral Water, Tea & coffee Personal care Baby care, Cosmetics, Deo & perfumes, Fashion accessories, Hair care, Oral care, Skin care etc. Kids & Utilities: School supplies, Toys & games

Major Competition of Big Bazaar

STATEMENT OF PROFIT AND LOSS FOR LAST 4 YEARS 2017-18

2016-17

2015-16

2014-15

INCOME Revenue From Operations Other Income Total Income

18,477.97 17,075.09 6,845.13 1,779.42 11.67 23.8 18.22 70.03 18,489.64 17,098.89 6,863.35

EXPENSES Purchase of Stock-In-Trade

14,422.55 13,212.92 5,254.86 1,562.80

Change in Inventories of Stock-In-Trade Employee Benefits Expense Finance Costs Depreciation and Amortization Expense Other Expenses Total Expenses Profit Before Exceptional Items and Tax Exceptional Items Profit Before Tax

-681.87 929.95 175.38

-378.57 803.44 204.23

-189.74 328.51 49.75

8.09 161.53 20.23

53.43 32.58 36.76 44.1 2,975.02 2,856.01 1,368.12 431.91 17,874.46 16,730.61 6,848.26 2,228.66

615.18 -603.87 11.31

368.28 368.28

15.09

-379.21

15.09

-379.21

https://www.futureretail.in/pdf/Annual_Report_2017_18.pdf

Industry Analysis Emerging trends in Retail Industry The year 2018 witnessed major developments across all industries and verticals, including some of the most crucial turn of events in the retail industry in India. From major acquisitions such as that of Flipkart by Walmart, and of Heritage Foods, Lee Cooper and UK-based Laura Ashley by Future Retail to international furniture giant IKEA opening its first store in India at Hyderabad—the retail industry has seen it all in 2018. In 2019, the market will be defined by emerging technologies that change the way consumers interact with their favourite brands, a shift in preferences, and the emergence of new battle lines for e-commerce.

Trend 1: Experiential Retail Experiential retail draws the focus to a customer-centric approach where the customer is able to interact with product or brand rather than being a passive participant. As consumers choose to invest in experiences rather than products, retailers need to respond to meet the needs of their customers. Customers do not want to just walk into the shop, buy the product and leave because they could do this in the comfort of their own home. Trend 2: Augmented Reality Vs Virtual Reality Retailers are beginning to experiment with virtual commerce, which leverages virtual and augmented reality devices to create entirely new conveniences for tomorrow's consumers. Augmented reality (AR) is slightly different from virtual reality (VR) as it overlays holograms on top of the physical world around us. Experts have noted that by 2020, the retail industry is slated to be the top spending industry on AR and VR. For instance: IKEA launched a new VR experience that places shoppers in the middle of a shoppable, 3D kitchen. Trend 3: Multi-Channel Retail Moving away from the tenants of the traditional retail market, multi-channel retailing has gained increasing popularity. The aim is for the retailer to be available to the consumer on all devices. The most common device used by shoppers nowadays is their mobile phones. With online shopping available at the click of a button and features like product details, size guide and free shipping, it is imperative for retailers to move their businesses online. Trend 4: Hyper Personalization The driving purpose behind today’s retail trends is to elevate the consumer-retailer relationship by increasing personalization, transforming customers into fans and boosting Customer Lifetime Value. Imagine a store where 99 percent of the items are selected for a customer based on their history and preferences. A shoppable virtual fridge stocked with your favourite foods. A smart speaker that knows your order history and can order your usual coffee with a simple voice command. A store where the inventory, messaging, prices and sizes are dynamically changed for you. It will soon seem absurd that we ever wasted time shopping at stores not designed for us. Trend 5: Automated Retail Lastly, the retail industry is slowly working towards creating a human interaction-free experience for the consumer. Moving rapidly towards automation on all fronts, many retailers have already adopted the cashier-less model – be it small merchants or large ones. Automated retail is now a broad area including everything from vending machines to unmanned kiosks to unattended grocery stores. For instance: Big Basket has launched BB Instant, as part of a broader strategy to increase the volume and frequency of orders on its platform. https://www.moneycontrol.com/news/business/companies/5-trends-that-will-redefine-retail-industry-in2019-3351261.html

No of Stores in Mumbai: 18