Square Feet Analysis At Pantaloons

A Project ON “SQUARE

FOOT ANALYSIS” at Pantaloons Retail (India) Ltd, BHUBANESWAR

Corporate Guide

Faculty Guide

Mr.Sarthak Mohapatra

Mr. Jyoti Ranjan Das

Marketing Manager

Faculty of Marketing

Pantaloon Retail (India) Ltd

IBCS Submitted by:Ashis Kumar Panda

INSTITUTE OF BUSINESS AND COMPUTER STUDIES

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Declaration Hereby I declare that this project titled “SQUARE FOOT ANALYSIS” at Pantaloon , Bhubaneswar is an original work and this work has not been submitted earlier to ‘IBCS’ or else where in any form. The project work was carried during 20th May to 5th July at Pantaloon , BBSR.

Ashis Kumar Panda Institute Of Business & Computer Studies (IBCS) SOA university REGD.NO.0841333352 Session: 20082010

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ACKNOWLEDGEMENT I acknowledge my indebt ness to our Dean Mr. P.K. Mohanty who has given me the opportunity to work with PRIL at Bhubaneswar. First of all I express my sincere gratitude and profound thankfulness to my Faculty guide Mr. Jyoti Ranjan Das for her valuable advice and sincere guidance through out preparation of this project I also express my deepest gratitude to my Corporate guide Mr Sarthak Mohapatra ( Marketing Manager), Department Managers, Assistant Department Managers , employees of Pantaloons and to all my friends for giving their valuable time to me for the fulfillment of my project.

Ashis Kumar Panda IBCS SOA UNIVERSITY Regd.no.-0841333352

EXECUTIVE SUMMARY INSTITUTE OF BUSINESS AND COMPUTER STUDIES [4]

• The selling of goods to consumers; usually in small quantities and not for resale. • Retail is the acid test of interaction between consumer and product. Here this two definition of retail is explained what is the actual base of a retail industry. It is nothing except sale of goods. So for a good retailer inventory is the primary weapons for attack on the competitor in the same target area. It is quite possible that money doesn’t matter for selling huge quantity. Because first thing is that; it is a growing market and there is room for every one. Second thing is that the small business have there own strategic attributes or competitive advantages. So only one thing is that, to identify the people requirement at the right time at the right place is one of the competitive advantages for a retail industry. “Being a fresher, I was excited right from the beginning about my summer experience. The experience was so different from what we are taught in a conventional classroom. Interacting with people from the organization and outside was very enlightening. Every point of contact was an immense source of value additions. That was an opportunity to get an exposure into real life business practices. Getting work done from people was the greatest challenge and the best learning experience I had. This project was started with the aim of understanding the store operation. After that the sale and to find out the square feet contribution of the section is assigned to me for study. I am enjoying a lot, actually in a retail store, display is a more important one. It may attract the customer or escape the customer from the store. The basic objective of the study was total sale of the section and to know the contribution of one section to the entire store. This project was carried out in Pantaloons, Bhubaneswar. Under the guidance of the Marketing Manager INSTITUTE OF BUSINESS AND COMPUTER STUDIES [5]

and my respected faculty guide, Institute of business & computer studies. I tried my level best to provide a wide coverage on the specific subject field. For this purpose I have divided the research work into four parts. Part one consists of introduction part which includes retail space ,Govt. policy, organizational characteristics chain stores ,company background ,future group, awards, company vision, core values . The second part consists of on the job training, learning from CSD ,SHARE WITH US, exchange policy. The third part consists of the detail description of Pantaloons ,BBSR and my section & my project work .Basically it consists of • Pantaloons description • Depot section description • Sales analysis of depot section • Square foot analysis of depot section Fourth part consists of conclusion and recommendation & bibliography part.

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TABLE OF CONTENTS

1)

CHAPTER -1    

Introduction Objectives Scope Methodology

Page no. 7 14 14 15

2) CHAPTER-2  Company profile

17

3) CHAPTER-3  Analysis

 Recommendation

46 55

4) CHAPTER-4  Conclusion& Discussion

58

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CHAPTER - 1

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INTRODUCTION

ABOUT RETAIL Retail is the second-largest industry in the WORLD both in number of establishments and number of employees. The U.S. retail industry generates $3.8 trillion in retail sales annually, approximately $11,690 per capita. The retail sector is also one of the largest worldwide. Wal-Mart is the world's largest retailer and the world's largest company with more than $256 billion (USD) in sales annually. Wal-Mart employs more than 1 million associates in the United States and more than 300,000 internationally. The second largest retailer in the world is France's Carrefour. RETAIL IN INDIA India sometimes has been called a nation of shopkeepers. India has topped the AT Kearney’s annual Global Retail Development Index (GRDI) for the third consecutive year, maintaining its position as the most attractive market for retail investment. The Indian retail market -- one of India's fastest growing industries -- is expected to grow from US$ 350 billion to US$ 427 billion by 2010. According to Euro monitor International, the Indian Retail market will grow in value terms by a total of 39.6 per cent between 2006 and 2011, averaging growth of almost 7 per cent a year. Modern retail accounts for about 4 per cent of the total retail market in India. This share is expected to increase to about 15 -20 per cent with the entry of a number of corporate into the segment. Modern retail formats have INSTITUTE OF BUSINESS AND COMPUTER STUDIES [10]

grown by 25-30 per cent in India in the last year and could be worth US$ 175-200 billion by 2016. RETAIL SPACE Retailers in India are the most aggressive in Asia in expanding their businesses, thus creating a huge demand for real estate. Their preferred means of expansion is to increase the number of outlets in a city, and also expand to other regions, revealed the Jones Lang LaSalle third annual Retailer Sentiment Survey-Asia. Driven by changing lifestyles, strong income growth and favorable demographic patterns, Indian retail is expanding at a rapid pace. The country may have 600 new shopping centers by 2010. Mall space, from a meager one million square feet in 2002, is expected to touch 40 million square feet by end-2007 and an estimated 60 million square feet by end-2008. GOVERNMENT POLICY There has been vigorous opposition to foreign direct investment (FDI) in retailing from small traders who fear that foreign retailing companies would take away their business, lead to the closure of many small trading businesses and result in considerable unemployment. Given the political clout of the small trading community, because of their enormous numbers, the government has barred FDI in retailing since 1997. Hence, at present, foreign retailers can only enter the retailing sector through franchising agreements. ORGANIZATIONAL CHARACTERISTICS Given the traditional and underdeveloped state of the Indian retail sector, the organizational characteristics of retail enterprises are rudimentary. Most of them belong to INSTITUTE OF BUSINESS AND COMPUTER STUDIES [11]

independent businesses.

enterprises

in

the

form

of

small

family

Cooperatives have been present in India for several decades, spurred by the encouragement given by the Indian Government, which viewed the cooperative movement as an integral component of its erstwhile socialist policies. However, since the 1990s, there has been a reduction in government support for cooperatives. In 2002, there were about 35,000 outlets run by cooperatives. Economic liberalization, competition and foreign investment since the 1990s led to a proliferation of brands with both foreign and Indian companies acquiring a strong brand equity for their products. Hence, franchising emerged as a popular mode of retailing. Sales of franchises grew at a rapid pace of 14% per annum over the review period. In 2002, there were over 5,000 franchised outlets. The other major retailing organisation format is multiples, better known as "chain stores" in India. In 2002, there were about 1,800 chain stores. Among the various organisational formats, sales of chain stores grew at the fastest pace, with sales growth during the review period averaging 24% per year. FOODRETAILERS There are a large variety of retailers operating in the food retailing sector. This is not surprising considering the enormous size of the market for food. However, traditional types of retailers, who operate small single outlet businesses mainly using family labour, dominate this sector. In comparison, supermarkets account for a minuscule proportion of food sales. This is because of the strong competitive strengths that traditional retailers possess. These include low operating costs and overheads, low margins, proximity to customers, long opening hours, and additional services to customers (such as home delivery). INSTITUTE OF BUSINESS AND COMPUTER STUDIES [12]

Nevertheless, supermarket sales expanded at a much higher rate than other retailers. This is because greater numbers of higher income Indians prefer to shop at supermarkets because of convenience, higher standards of hygiene and the attractive ambience.

HEALTH AND BEAUTY PRODUCTS RETAILERS With growth in incomes, Indians have been spending more on health and beauty products. As in the case of other retailing sectors, small single-outlet retailers also dominate sales of health and beauty products. However, in recent years, a couple of retail chains specializing in health & beauty products have sprung up. At present, they account for only a tiny share of sales of these products. However, as Indians spend more on such products in future, their business will undoubtedly expand substantially. There is also scope for entry of more such chains. CLOTHING AND FOOTWEAR RETAILERS Numerous clothing and footwear shops are to be found in Indian cities and towns, especially in shopping centers and markets. These are a mix of traditional and modern stores. Traditional outlets are small and cramped with little emphasis on alluring displays. They basically stock a limited range of cheap and popular items. In contrast, modern clothing and footwear stores are spacious with sample products attractively displayed in windows, sometimes with mannequins. Just as in the case of food retailing, there are also a huge number of retailers selling clothing and footwear in makeshift stalls or on footpaths. Because of their rockbottom prices, which are much lower than prices of branded products, they attract a large number of customers. DURABLE GOODS RETAILERS

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The entry of a large number of foreign consumer durable companies into the Indian market during the 1990s after the government liberalized its foreign investment and import policies transformed this sector dramatically. A much larger variety of consumer electronic items and household appliances became available to the Indian customer. Competition among companies to sell their brands provided a strong impetus to the growth for retailers operating in this sector. FORECAST TOTAL RETAIL SALES Retail sales (in real terms) are predicted to rise more rapidly than consumer expenditure during 2003-2008. The forecast growth in real retail sales during 2003-2008 is 8.3% per year (compared with 7.1% for consumer expenditure). Inevitably, modernisation of the Indian retail sector will be reflected in rapid growth in sales of supermarkets, department stores and hypermarkets. This is because of the growing preference of the affluent and upper middle classes for shopping at these types of retail stores, given the conveniences they offer such as shopping ambience, variety and a single-point source for purchases. Hence, sales from these large format stores are predicted to expand at growth rates ranging from 24% to 49% per year during 2003-2008. However, such rapid growth is from a small base. Hence, they will continue to account for only a small share of total retail sales in 2008. FOOD RETAIL Food dominates the shopping basket in India. The US$ 6.1 billion Indian foods industry, which forms 44 per cent of the entire FMCG sales, is growing at 9 per cent and has set the growth agenda for modern trade formats. The prospect for growth of the branded segment is huge, as nearly 60 per cent of the average Indian grocery basket still comprises non-branded items. INSTITUTE OF BUSINESS AND COMPUTER STUDIES [14]

Of the 12 million retail outlets (which is the largest in the world), over 5 million sell food and related products. Some of the large players in this market are Kishore Biyani’s Food Bazaar, Mukesh Ambani’s Reliance Fresh, Godrej Agrovet, the Aditya Birla Group, and the Tata Group (which acquired 70 per cent stake in Innovative Foods from the Amalgam Group) among others. THE MOBILE REVOLUTION The retail market for mobile phones - handset, accessories and airtime - is already an over US$ 17.33-billion market growing at the rate of 15-20 per cent. With the number of mobile users expected to cross 220 million by the year end (and 550 million by 2010), many players have been chalking out aggressive plans: •

• •

Spice Group plans to invest US$ 123.8 million in the next two years in its telecom retail venture, HotSpot Retail. Essar Group plans to invest US$ 278.56 - 334.24 million over the next three years in its telecom retail venture. Hypermarket chains like Subhiksha have started exclusive stores for mobile retail - Subhiksha Mobile and Big Bazaar with M Bazaar.

LUXURY BRANDS With consumers for luxury goods more in numbers than adult population of several countries, many luxury brands have been attracted to set up shops in India to tap the growing market. Many companies such as Bang & Olufsen, Escada, Brioni, Chanel, Louis Vuitton, Versace, Fendi, Valentino, and Swarovski among others have already opened shops in the country. According to the India Luxury Trends 2006, prepared by KSA Technopak, consumer base in this segment is expected to treble by 2010. INSTITUTE OF BUSINESS AND COMPUTER STUDIES [15]

KIDS' RETAIL When it comes to Indian children, retailers are busy bonding -- and branding: • • • • • • •

•

Monalisa, the Versace of kids, is coming to India. Global lifestyle brand Nautica is bringing Nautica Kids. International brand Zapp tied up with Raymond to foray into kids'apparel. Disney launched exclusive chains which stock character-based stationery. Pantaloon's joint venture with Gini & Jony will set up a retail chain to market kids' apparel. Swiss kidswear brand Milou is collaborating with Tirupur-based Sreeja Hosieries. Turner International India Pvt Ltd. will launch Cartoon Network Townsville and Planet POGO -- two theme parks designed around its channels -- in the National Capital Region. Sahara One Television has signed a Memorandum of Understanding to source content from Spacetoon Media Group, Middle East's largest kids' entertainment brand for animation and live action content.

AGRICULTURAL RETAIL India’s large consumer base along with export potential and reforms in agriculture (such as opening up of many agriculture sectors for 100 per cent FDI, allowing farmers to sell their produce directly to buyers) have attracted a large number of corporates into the agricultural retail segment. •

•

For its e-Choupal scheme, ITC built internet kiosks in villages to provide farmers access to latest information on weather, market prices and foods in demand among other things. With a US$ 5.6 billion, multi-year investment in agriculture and retail, Reliance Retail will establish links with farms on several thousand acres in Punjab, West Bengal and Maharashtra. INSTITUTE OF BUSINESS AND COMPUTER STUDIES [16]

•

•

FieldFresh, planning to become India's first large-scale exporter of produce, will annually pay farmers over US$ 30,000 to lease land for vegetables, to hire tractors and to pay their workers. PepsiCo, with agriculture exports worth US$ 40 million, has launched a five-year program with the Punjab Government to provide several hundred farmers with four million sweet-orange trees for its Tropicana juices by 2008. It has also introduced farmers to high-yielding basmati rice, mangoes, potatoes, chillies, peanuts and barley for its Frito-Lay snacks.

2) Objectives  Most important objective being the generation of more revenue towards the company as much as possible.  To built a good relationship with the customers and to create a conducive climate for both the customers and the sellers.  To gain awareness regarding customers relationship, customers choice, preferences and every details about the mode of operation of the company.  To make the customer aware of the product, lunch of new products, benefits of products, its ranges, advantages, buying pattern of the consumers etc.  To better understand the need of the customers and try to harmonize the relationship between the customers and the goods and service providers.  To learn to built a worm and cordial relationship between the staffs.

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3)

SCOPE

To have the corporate knowledge about the retail sector in Pantaloons , this research is confined to the retail outlet at Bhubaneswar.

4)METHODOLOGY From the store I got the data through secondary collection method . The data was collected from the organization system storing information. Every week sales ,target and respective achievement was collected from the system.

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CHAPTER-2

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COMPANY PROFILE

PANTALOON RETAIL (INDIA) LIMITED Pantaloon Retail (India) Limited is India’s leading retailer with a turnover of Rs. 2500 crore (US$242 million) for the financial year ended June 2006. The company has a retail presence across various segments including food, fashion and footwear, home solutions and consumer electronics, books and music, wellness and beauty, general merchandise, telecom and IT, E-tailing, leisure and entertainment and financial products and services. The company operates multiple retail formats catering to a wide cross-section of the Indian society. In the Lifestyle retailing segment it has Pantaloons (department store), Central (seamless malls), Blue Sky (fashion accessories) and ALL (fashion apparel for plus size individuals). The company’s value retailing ventures include Big Bazaar (hypermarket), Food Bazaar (supermarket) and Fashion Station (popular fashion). Headquartered in Mumbai (Bombay), the company operates through 5 million sq ft of retail space and has over 420 stores across 25 cities in the country. Till date, PRIL has secured about 10 million sq ft of retail space that will be operational by endof2008. PRIL employs over 12,000 people and has a customer base of over 12 crore Indians. The company was incorporated on October 12, 1987 as Manz Wear Private Limited. It was converted into a public limited company on September 20, 1991 and its name was subsequently changed to Pantaloon Retail (India) Limited. INSTITUTE OF BUSINESS AND COMPUTER STUDIES [20]

FUTURE GROUP

Future Group is India’s leading business group that caters to the entire Indian consumption space. Led by Mr. Kishore Biyani, the Future Group operates through six verticals: Retail, Capital, Brands, Space, Media and Logistics. Pantaloon Retail (India) Limited is part of Future Group, a diversified conglomerate with presence in multiple consumer-centric businesses. The Future Group operates through six verticals: Future Retail, Future Capital, Future Brands, Future Space, Future Media and Future Logistics. Future Capital is the financial arm of the group and is involved in asset management (both private equity and real estate funds) with plans to get into other financial services including insurance, credit and other consumer related financial services. Future Group is in the line of business.

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LINE OF BUSINESS FASHION JOINT VENTURES & PARTNER COMPANIES The company has a stake in Galaxy Entertainment that operates chains like Chamosa, Rain, Lush, F123, Bowling Company, Sports Bar and Brew Bar.

FOOD

It also has a stake in Planet Retail Holdings that owns the franchisee of brands like Marks & Spencer, Guess, Debenhams, The Body Shop and Puma in India. PRIL has entered into joint ventures with kids apparel manufacturer - Gini & Jony and Liberty Shoes.

GENERAL MERCHANDISE

Pantaloon Industries owns a majority stake in Indus League that markets brands like Indigo Nation, Scullers, Urban Yoga and Jealous. Pantaloon has own many awards for its Excellency in retail business. Some important awards are-: AWARDS: 2007 INSTITUTE OF BUSINESS AND COMPUTER STUDIES [22]

National Retail Federation Awards International Retailer for the Year 2007 – Pantaloon Retail (India) Ltd The National Retail Federation is the world’s largest retail trade association with over 1.4 million members in the US and across the world. Some of the past winners of the award include Metro AG (Germany), Carrefour (France), Zara (Spain), Boticario (Brazil) and Ito Yokado (Japan). The award was presented at the Retail’s Big Show held in January 2007 in New York. World Retail Congress Awards Emerging Market Retailer of the Year 2007 – Pantaloon Retail (India) Ltd The inaugural World Retail Congress held in Barcelona, Spain in March 2007 attracted over one thousand retail professionals from over sixty countries. The awards were decided by a multinational Grand Jury. Winners in other categories included Inditex, Mall of Emirates, Marks & Spencer and IKEA. Hewitt Best Employers 2007 Best Employers in India (Rank 14th) – Pantaloon Retail (India) Ltd Leading human resources consultancy, Hewitt Associates conducts an annual survey of the best employers in India, as part of its global initiative. It is based on CEO interview, People Practices Inventory and Employee Opinion Surveys. Pantaloon Retail became the only retailer to feature among the twenty-five best employers in India. PC World Indian Website Awards Best Indian Website In The Shopping Category Futurebazaar.com PC World, a leading consumer technology magazine selected the best Indian websites in various categories based on use INSTITUTE OF BUSINESS AND COMPUTER STUDIES [23]

of technology for delivering solutions, information being presented in an intuitive and concise manner and overall experience aided by design. Reader’s Digest Trusted Brands Platinum Awards Trusted Brands Platinum Award (Supermarket Category) – Big Bazaar The Reader’s Digest awards are based on surveys done among consumers by independent research agency, Nielsen Media Research. This is the second consecutive time Big Bazaar has won this award. 2006 Retail Asia Pacific Top 500 Awards Asia Pacific Best of the Best Retailers – Pantaloon Retail (India) Ltd Best Retailer in India – Pantaloon Retail (India) Ltd The Retail Asia publication in association with EuroMonitor and KPMG honours the best retailers in 14 countries across the Asia Pacific region. The awards were presented in Singapore in October, 2006. Asiamoney Awards Best Managed Company in India (Mid-cap) – Pantaloon retail (India) Ltd. The Asiamoney publication conducts a poll among fund manages and investors and does a quantitative analysis of financial performance to select best managed companies in Asian countries. Ernst & Young Entrepreneur of the Year Award Ernst & Young Entrepreneur of the Year (Services) – Kishore Biyani Considered to be one of the most prestigious business awards in India, a jury comprising leading names in Indian INSTITUTE OF BUSINESS AND COMPUTER STUDIES [24]

business selected the winners based on courage, creativity, passion, endurance and vision. CNBC Indian Business Leaders Awards The First Generation Entrepreneur of the Year – Kishore Biyani 2005 Images Retail Awards 2005 PRIL – Most admired retailer of the year Food Bazaar - Retailer of the year (food and grocery) Big Bazaar – Retailer of the year (value retailing) Central – Retail launch of the year Business Today selected PRIL among: Top 20 companies in India to watch in 2005 India’s most investor-friendly companies in the top 75 India’s biggest wealth creators in the top 100 2004 Images Retail Awards 2004 PRIL – Most admired retailer of the year Food Bazaar - Retailer of the year (food and grocery) Big Bazaar – Retailer of the year (value retailing) Central – Retail launch of the year Reid & Taylor and DLF Awards PRIL – Retailer of the year 2003 Indian Express Award INSTITUTE OF BUSINESS AND COMPUTER STUDIES [25]

PRIL- Marketing excellence and excellence in brand building

MAJOR MILESTONES 1987 Company incorporated as Manz Wear Private Limited. Launch of Pantaloons trouser, India’s first formal trouser brand. 1991

Launch of BARE, the Indian jeans brand.

1992 of May.

Initial public offer (IPO) was made in the month

1994 The Pantaloon Shoppe – exclusive menswear store in franchise formal launched across the nation. The company starts the distribution of branded garments through multi-brand retail outlets across the nation. John Miller – Formal shirt brand launched. 1997 Kolkata.

Pantaloons – India’s family store launched in

2001 Big Bazaar, ‘Is se sasta aur accha kahi nahin’ India’s first hypermarket chain launched. 2002 Food Bazaar, the supermarket chain is launched. 2004 Central – ‘Shop, Eat, Celebrate in the Heart of Our City’ - India’s first Seamless mall is launched in Bangalore. 2005 Fashion Station - the popular fashion chain is launched. aLL – ‘a little larger’ - exclusive stores for plus-size individuals is launched. 2006 Future Capital Holdings, the company’s financial arm launches real estate and Horizon and private equity fund Indivision. Plans forays into insurance and consumer credit. VISION INSTITUTE OF BUSINESS AND COMPUTER STUDIES [26]

We will Corporate provide Everything, Everywhere, Every time to Every Indian Consumer in the most profitable manner Factory, EZone, Depot and futurebazaar.com are launched across the nation. Group enters into joint venture agreements with ETAM Group and Generali. Core Values: Indian-ness – confidence in ourselves Dedication – to customer satisfaction Leadership – to be a leader both in thought and business Self Development – by continuous hard work Respect – for every individual Introspection – leading to purposeful thinking Corporate Credo is - Rewrite rules, Retain values

Things learnt (CSD)

regarding Customer Service Desk

• Customer service involves the many concrete, minute actions performed by everyone in an organization to keep the customer satisfied and delighted. • Customer service means meeting and extending the need and aspirations of the customers. It’s also all about customer’s expectations and needs. • Every business depends upon customer’s base. So, we need to satisfy the customers at any cost, because not satisfying a customer might leads to loss of a customer permanently. INSTITUTE OF BUSINESS AND COMPUTER STUDIES [27]

• Customer service is not a single and one handed activity; rather it should be reflected in each and every activity that is being undertaken at the store. • The impression that a customer service desk (CSD) can leave on the heart and mind of the customer’s are very strong. They are really like the interface between the customer and the organization itself. So, a better and efficient management of customer service desk can only act as a guiding principle is running an organization. Work of the CSD Customer service desk is the most vital part in a big goods and services providing company. We need utmost care while dealing with the customers, because they are really the king in this perfect competitive market structure. So, modern to expand the business we not only need large scale production, but at the some time also better management of the customer related issues. An efficient CSD can only enhances the customer base for a product on a company, because it creates a sense of satisfaction. Varies type of signage which should be on the CSD 1. 2. 3. 4. 5. 6. 7. 8. 9.

Tailoring facilities available here. Gift wrapping Foreign currency accepted Alternation policy Free home delivery Emergency telephone number Intercom number of all section Number of all managers Description of vouchers (various) INSTITUTE OF BUSINESS AND COMPUTER STUDIES [28]

In a CSD various types of registers are being maintained. And every year on 1st of July a new register book will be used for maintaining the essential information like….

10) 11)

1. Footfall register 2. Sales return register 3. Announcement register 4. Gift wrapping register 5. Deposit register 6. Lost and found register 7. phone call register 8. Free gift issuing register from CSD 9. Free gift issuing register from Warehouse to CSD Advertisement register Enquiry register

1. Footfall register It means the no. of customers enters into the business concern or the no. of people per day visit. It creates a sense regarding the demand condition of the outlets.Through this register we can get knowledge regarding the trend, the rate at which the no. of customers is either increases or decreases and findout suitable methods to solve them. 2. Sales return register It registered all the details of the customers who have returned their products due to any cause.In sales return register includes the details of previous cash memo, date INSTITUTE OF BUSINESS AND COMPUTER STUDIES [29]

total value of bill, product code and credit note no. and the date of making credit note and amount of credit note. It may be due to improper size, colour, defective items, wrong product information, doesn’t like it etc. So, this register should be maintained properly to findout the common causes responsible for such faults and try from our side to get rid of this problem. 3. Announcement register It announces the discount, schemes that are in prevalence; update all the previous discounts and schemes.We can study and findout through this register under exactly which schemes and policies, the sales are up and under which schemes and discount offers the sales are down and can make future projection and set targets by setting the desired offers. Announcements regarding schemes and offers to be strictly made from customer service desk by customer service executives. Nominated person from respective departments to give the offer details in writing to CSD executive well in advance .Before announcing the offers CSD executive to note the announcement details in announcement Register. 4. Gift wrapping register Gift wrapping register is something where after purchase the item, we will freely gift packs the gifted products. So as to provide an extra in centime to the consumers. We have the Gift Wrapping facility at our store so that our customers can get the merchandise gift-wrapped free of cost. We need to ensure that we provide this facility in an efficient and artistic manner just like a true professional. Gift INSTITUTE OF BUSINESS AND COMPUTER STUDIES [30]

wrapping should be done by the customer service executive.Appropriate signage to be put at CSD to indicate Gift Wrapping Service. At least 5 different styles of gift wrapping paper to be always available at the Gift wrapping counter. Ensure that you have 10 sheets of each style. Whenever gift wrapping is done, it needs to be recorded in the register. We need to ensure that merchandise bought only from our store to be taken for gift wrapping. To facilitate this we need to ask the customer to produce the cash memo for the merchandise brought for gift wrapping Gift Wrapping Process:

•

Gift – – – – –

•

Gift Wrapping Executive To – Wrap the product neatly in an artistic manner using the Gift Wrapping Style Paper – Paste the name card on the gift wrap – Update the register for the gifts wrapped daily

•

If the customer asks only for the Gift Wrapping Paper – Customer Service Executive to request the customer for the cash memo – If the cash memo is presented – Then hand over the Gift wrapping paper to the customer – If the cash memo is not presented

Wrapping Executive to Request customer for the cash memo Verify the product with the cash memo Check for security tags All tags must be removed Ask customer for removal of Price Sticker

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– Inform the customer that Gift Wrapping Paper can be given only after verifying the cash Memo. Merchandise not purchased from our store should not be Gift Wrapped 5. Lost and found registers Sometimes some products are getting lost within the shop due to the mismanagement or some irregularities on the part of the authority. So a proper register should be maintained so as to avoid the incidence. By maintaining the register we can contract the person after the recovery of the item. For lost items customer needs to make a request. Before announcing the CSE to write the announcement along with details of lost item. CSE to make an entry in the Lost & Found Register. 6. Advertisement register It records all the advertisements that have been given in various newspapers You cut that advertisement page and attach the advertisement register at the top mention the date. Here we can make an analytical study of the effects of advertisements on the sales. So, it is very much important 7. Phone call register Here the customer calls any body in the store. It’s a promotional activity. • To assist customers by – Providing them information over the phone – Allowing them to make calls free of cost from the store INSTITUTE OF BUSINESS AND COMPUTER STUDIES [32]

• Store tel. no. mentioned on cash memo should be valid & working • CSE to be updated with the various current & future offers at store • CSD should have Ext. No. of all departments for transferring the calls speedily • Calls made by customers will be Free of Cost • If any customer wants to make a telephone call – They should be directed to the CSD – Ensure telephone is accessible to the customer – Do not charge for the call Incoming Call Process: • Pickup the phone within 3 rings • CSE to answer calls by greeting the caller for the time of the day e.g.: “Good Afternoon, Pantaloons” • On requisition of Customer, CSE to transfer the line to an employee • If a customer enquires about the availability of a particular product • Ask the customer to hold the line • Speak to concerned Dept. for availability • Give correct information to the customer • If not available, note the Name, Tel. No. and Email of the customer and reply on the same when available • If a customer has any other query • CSE to solve the query • If fails, note the customer’s name & tel. no. and reply back on the same to resolve the query • Always wish the customer before closing the call as follows: “Thank you for calling Pantaloons ……Do visit us. Have a Great Day” INSTITUTE OF BUSINESS AND COMPUTER STUDIES [33]

8. Free gift issuing register from CSD Customer service desk some times provides gifts and offers to the customers as a promotional activity. • Free Gifts are inevitable in the retail industry • Effective Management ensures that benefits of promotions and free gifts are passed on to customers • Consumer offer • “Free gift” is printed on the product and is a part of a national promotion being run by the supplier • Free gift could be inside the product, taped with the product or in loose form • Special Offer • Free gift which is not printed on product but given free of cost by vendor • If any free gift is printed on the SKU • Check if the free gift is inside the product • If yes, do not make an entry into the free gifts register • If the free gift is in loose form, entry needs to be made into the free gifts register • For products taped with the product, just check that all products have the free gift taped with them. 9. Enquiry register Every company maintains an enquiry register of all the customers. That makes a call or visit personally to the counter to have some information regarding the product lines or regarding the schemes on offers being given 10. Deposit register INSTITUTE OF BUSINESS AND COMPUTER STUDIES [34]

Employees when find any thing in the store, they deposit in CSD, that deposited things are recorded in one register which name is deposit register. 11)

Free gift issuing register from ware house to CSD • The systematic receipt of free gifts at store warehouse • Distribution of free gifts through CSD • The warehouse is responsible for keeping record of the free gifts received at the store • The person receiving the merchandise at the warehouse is to check – If any vendor run promotions are going on for the SKUs supplied – If any free gift is printed on the SKU • If any free gift is printed on the SKU – Check if the free gift is inside the product – If yes, do not make an entry into the free gifts register – If the free gift is in loose form, entry needs to be made into the free gifts register For products taped with the product, just check that all products have the free gift taped with them In Store Announcements:  To enhance customers shopping experience by – Updating them about the on-going schemes, discounts and offers. – Staff announcements for effective functioning and smooth operation Types of Announcements: INSTITUTE OF BUSINESS AND COMPUTER STUDIES [35]

• • • • •

Daily Announcements Schemes Staff Announcements Customer Announcements Announcing for Lost and Found items.

In store Announcement Process: During store opening, dummy announcements to be made by Customer Service Executive to ensure proper functioning of sound systems. CSE should check for clarity & volume of sound. • Announcement registers to be maintained & updated on a regular basis • All messages must be concise, crisp and clear • Turn down the music while making an announcement Before announcing the offers CSD executive to note the announcement details in Announcement Register and rehearse the announcement. • Schemes – CSD executive to make an announcement in creative and effective manner to attract customer’s attention – Offer Announcement to be customized depending upon the location of the store / season / festival – Announcements to be made in English / Hindi one of the local languages • Closing Announcements – To be made daily 30 minutes before actual closing • Opening Announcements – To be made daily after 30 minutes of store opening INSTITUTE OF BUSINESS AND COMPUTER STUDIES [36]

• Closing Announcements “Dear Customers, we are now nearing the closing time. We request you to expedite your shopping and proceed towards the cash counter. Thank you for shopping with us. Have a pleasant evening. Our store will open at 10:30 a.m. tomorrow. Please do shop with us again.” • Opening Announcements – “ Good morning to all the customers present at pantaloons. Have a great shopping experience and a great day. I request all the staff to be at their respective locations. Thank you!” Share with Us: Objective of this program “Share with Us” – is to provide our customers a medium to express their feeling and share their experience at our store. We use this feedback to understand their requirement and develop or modify our processes to serve them better. 3 way by which customer can register their feedback  Share with us book.  Share with us forms.  E-mail. To encourage the customers to register their feedback with us, there are signage’s to be placed in the store. These signages should communicate various medium by which the customer can register their feedback. Signage’s should be placed at CSD counter and other prominent locations in the store. The signages should be of 2 feet – by – 2 feet standard. Store VM In-charge to ensure that signage’s standards are adhered to in the store. Customer feedback program INSTITUTE OF BUSINESS AND COMPUTER STUDIES [37]

 It is need because people provide it.  To demonstrate the industry’s competitiveness.  To put good attitude of their employees towards their

customers. The customers need a medium to express their feeling and share their experiences at our store.  It’s sole aim is to  Understand the customer.  To design better methodologies to processes and serve the better. 3 Golden rules of business: 1st Rule Good business sense should prevail while serving customers. 2nd Rule The executive at the customer service desk should never say ‘NO’ to the customers. The managers should be the final authority in case of any exceptions that are to be extended to the customer. 3rd Rule If the merchandise is brought for exchange is from our chain of stores and it can be resold at our store then it should be taken back from the customers.  To boost customer satisfaction by exchanging the required/scheduled products offering better options.  To deal with issues pertaining to product defects in the purchase. EXCHANGE POLICY (Terms and condition)  You will exchange the product with in 7days from the date of purchase only with the cash memo. INSTITUTE OF BUSINESS AND COMPUTER STUDIES [38]

 Exchange to be facilitated on all days during working hours .  Merchandise that can pose a health hazard, cannot be exchanged  Merchandise are guaranteed against all manufacturing defects to exchange a product, customer needs to provide cash memo of the purchase.  You can’t be exchanged Books, Body Care Products, CD ROMS, Cosmetics, Crockery, Hair Accessories, Jewellery, Pens, Pharmaceuticals, Music, Soft Toys, Stationery, Toiletries, Undergarments and Utensils.  Non-repairable Defects in Electronic goods should be covered under the warranty Repairable Defects in Electronic goods should be repaired under the service warranty  For high value / electronic merchandise, request the customer to break the seal of package at the store and confirm the perfect condition of the merchandise PreDelivery Inspection should be carried out for home delivery of high value merchandise.  Promotional products should be exchanged for the same products even if the scheme does not exist any longer.  Merchandise should be exchanged even if it is brought from any of our chain store  Exchange should be done through a system’s inward or a manual documentation  Altered, Damaged, Used, Discounted and promotional Merchandise also can’t be exchanged.  After sales services for watches, electronics, home appliance, telephone etc. will provided by the authorized service centers of the manufacturers. INSTITUTE OF BUSINESS AND COMPUTER STUDIES [39]

 Sarees, Shoes and other items will not be exchanged unless returned in original condition.  In case of repairable defect in Shoes, Spectacles, Electronic items, it will repaired and not exchanged.  The big bazaar staff reserve the right to determine whether the goods have been damaged or used  Merchandise should be returned to the store it was bought from or treated as per the Store Manager’s discretion Retailing affects every fact of life. Just think of how many contacts you have with retailers when you eat meals, furnish your apartment, have your car fixed, and buy clothing for a party or job interview. U.S. retail sales in 2001 were $3 trillion. These official statistics include only store and catalog sale; they don’t include other type of non-store retail sales, such as Internet sale to consumers, TV home shopping, and sales of service to consumers such as movie tickets, hotel rooms, and legal assistance. In 1997, there were 2889041 retail firms in the United States. Sales or the performance of the store can be measured in the following ways: 1.

Gross Margin Return on Investment (GMROI) -

2. Measuring sales per square foot- This is calculated by dividing the total sale by total square foot of selling space of the store. Such as a store generate 5 lakhs in INSTITUTE OF BUSINESS AND COMPUTER STUDIES [40]

a day and the total selling space is 10000 square foot, then sales per square foot = 500000/10000= Rs 50 per square foot. 3. GMROF- Gross Margin Return on Footage is measuring the foot fall for a specific period to the sale of a store in specific period. Total sales of a store divided by the total foot fall in the store. For example, total sales of a store in a day is 500000 and total foot fall is 2000, then GMROF= 500000/2000=Rs 250 per foot fall. 4. Monthly Sales Percent Distribution- This method is simplest method to analyse and plan the total sales of a store that a store is going to achieve within a year. In the first initial stage of the plan projects what percentage of the total sales is expected to be sold in each month, Such as 21 percentage of the six month sale is accepted to occur in April.

About Pantaloons, Bhubaneswar

SM

: J. Narayan Pooja Panda INSTITUTE OF BUSINESS AND COMPUTER STUDIES [41]

ASM : Rahul Nair HR : Mekon Swain Size : 58,000 sq. ft. Pantaloon Retail (India) Limited (PRIL) on Friday (12-10-2007) launched its second largest store of the country in Bhubaneswar near Trupti Filling Station at Sahid Nagar with the total floor area spreading across 58,000 square feet. The store adds a new dimension to life style retailing and houses a range of Pantaloons brands like John Miller, Lombard, Urbana, RIG, UMM, Koryo, Sensei, and many more with a total of 17 b0wn brands featuring different retail formats such as eZone, Depot, Gen M, Mela, Planet Sports, Blue Sky and Food Bazaar, the store was targeting high income groups including IT professionals in the city. This store at Bhubaneswar is the 35th unit spreading across 16 cities of the country. The company also introduced escalator in the store, which would be a first experience for many in the State. The store has four flours packed with latest models of electronic goods, sportswear, apparel and accessories including formats for plus sized men and women and watches and electronic goods. Its description is given below: STORE LAYOUT:Ground floor : Mela & gift article Blue sky watches & sunglasses Gen-M Cosmetics & Fragrances Fine Jwellery INSTITUTE OF BUSINESS AND COMPUTER STUDIES [42]

Lingerie & Nightwear ALL ( the plus size zone) Women’s party wear. Women’s young fashion Women’s ethnic Women’s formals Women’s casuals 1st floor : Depot Infant Toys Kidswear Active wear Men’z party wear & ethnic Men’z suits & blazers Men’z casuals Men’z formals 2nd floor : Men’z young fashion Men’z active wear Men’z accessories INSTITUTE OF BUSINESS AND COMPUTER STUDIES [43]

eZone Footwear

3rd floor : Café’ ( yet to open ) Food Bazaar Gaming ( yet to open ) MY SECTION – DEPOT Depot section is a part among different section of pantaloons which takes about 680 square feet of total Pantaloons square feet. It is present in front of the entrance to 1st floor.It consists of different collections of books items and stationary items . The different collections available here are as follows 1) Management books 2) General reference books 3) Cookery books 4) Fictions 5) Junior Fictions 6) Early Readings 7) Children Activity Books 8) Pens 9) Children Stationary 10) Office Stationary 11) Gift Items 12) Bin items OFFERS MADE AVAILABLE IN DEPOT SECTIONS 1) Offers for Management and fictional Books were get 30% off on every item for three weeks of my training period and for next three weeks it was INSTITUTE OF BUSINESS AND COMPUTER STUDIES [44]

made buy one get one free on every Management and Fictional Books.

2) Oxford dictionary were made available at just Rs.119 instead of Rs.155 & at Rs.79 instead of Rs.110. All the Webster Dictionaries are made available to the customer at just Rs. 99. 3) In pen item offer was BUY ONE GET ONE FREE on Flair and some items of Pentel categories. 4) In children stationary the offer was any customer can win a laptop,desktop,DVD Player or DVD through Lucky Draw if and only he purchases Rs. 100 above on Natraj and Apsara items. 5) Offer on Navneet notebooks was purchase 12 notebooks & get Rs. 50 off. 6) 30% off on all Flair calculators. 7) 30% off on all Disney items. 8) 40% off on all CD holders of Rs.109 & Rs.69. 9) 40% off on lunch box worth Rs.149 & water bottle worth Rs. 119.

INSTITUTE OF BUSINESS AND COMPUTER STUDIES [45]

OFFERS GOING ON IN THE STORE DURING THE TRAINING PERIOD:Shop Rs 3000/- at Pantaloons and get a 7 pcs jog set worth Rs 749 at Rs.149.This offer is known as Ticket Size Offer. FASHION FRIDAY’S OFFER:1) Your 1 star Green Card has the power to get you a 5% discount. 2) Your 3 star green card gets you a 10% discount 3) Your 5 star green card gets you a 12.5% discount 4) Your 7 star green card gets you a 15% discount. GREEN CARD:Now Pantaloon Green Card is more powerful. When you shop with Green Card, you get rewarded instantly. Shop for any amount at pantloons and enroll for a green card. 1 star green card member gets Rs200/- gift voucher on enrolment. 3 star green card member gets a 5% discount. 5 star green card member gets a 7.5% discount . 7 star green card member gets a 10% discount.

INSTITUTE OF BUSINESS AND COMPUTER STUDIES [46]

CHAPTER-3

INSTITUTE OF BUSINESS AND COMPUTER STUDIES [47]

SALES ANALYSIS OF DEPOT SECTION Sales analysis of a week has analysed in putting the sales amount in week format and then analysed it through the bar chart. The ups and down shows the impact of normal day like Tuesday -4.11 and high volume sales Saturday-5.85 with the offers of weekends. In the other cases the sales are showing that the weeks affect in sales and side by side the purchase behavior of the customer. The data about all the weeks were collected from the organizational system . The data related to every week ,their target and respective achievement were collected in the form of table and was analysed successfully.

WEEK-47 DAY TARGET ACHIEVED ACHIEVED PERCENTA GE

MON 1714 2 1028 2 59.9 %

TUE 1714 2 1014 9 59.2%

WED 1714 2 1345 9 78.5 %

THU 1714 2 1036 9 60.4 %

FRI 1714 2 1343 9 78.3 %

SAT 1714 2 1365 7 79.6 %

The detailed graph of week 47 is represented as per following

INSTITUTE OF BUSINESS AND COMPUTER STUDIES [48]

SUN 1714 8 1715 4 100%

WEEK-47

20000 15000 TARGET

10000

ACHIEVEMENT

5000 0 MON

WED

DAYS

FRI

SUN

WEEK-48 DAY TARGET ACHIEV E MENT % OF ACHIEV E MENT

MON 1871 4 9616

TUE 1871 4 1424 6

WED 1871 4 1257 1

THU 1871 4 1472 1

FRI 1871 4 1836 1

SAT 1871 4 1449 6

SUN 1871 6 2425 5

51.3 %

76.1 %

67.1 %

78.6 %

98.1 %

77.4 %

129.5 82.64 % %

The detailed graph of week-48 is represented as follows

INSTITUTE OF BUSINESS AND COMPUTER STUDIES [49]

TOTAL 13100 0 10826 6

WEEK-48

30000 25000 20000 15000 10000 5000 0

TARGET ACHIEVEMENT

MON

WED

FRI

SUN

DAYS From the above graph it is clear that the section is able to touch it’s target on Friday and on Sunday it exceeds to it’s predetermined target. This is mostly because of more number of customer entry. WEEK-49 DAYS

MON

TUE

WED

THU

FRI

SAT

TARGET

1900 0 1147 2

1900 0 1429 7

1900 0 9771

1900 0 8013

1900 0 1520 8

19000 1900 0 20637 1699 1

13300 0 96389

60.3 %

75.2 %

51.4 %

42.1 %

80.0 %

108.6 %

72.47 %

ACHIEV E MENT % OF ACHIEV E MENT

SUN

89.4 %

The detailed diagram of sales for week-49 is as follows INSTITUTE OF BUSINESS AND COMPUTER STUDIES [50]

TOTAL

WEEK-49

25000 20000 15000

TARGET

10000

ACHIEVEMENT

5000 0 MON

WED

FRI

SUN

DAYS In this figure it is clear that the section was able to achieve the target only on Saturday.Even in Sunday it was unable achieve that. WEEK-50 DAYS TARGET ACHIEV EMENT % OF ACHIEV EMENT

MON 2157 1 1485 8

TUE 2157 1 1289 7

WED 2157 1 7858

THU 2157 1 1614 8

FRI 2157 1 1137 2

SAT 21571

SAN 21574

TOTAL 151000

19238

25054

107425

68.8 %

59.7 %

36.4 %

74.8 %

52.7 %

89.1%

116.1 %

71.14%

INSTITUTE OF BUSINESS AND COMPUTER STUDIES [51]

The detailed sales of this week is well represented as follows:

WEEK-50

30000 25000 20000 15000 10000 5000 0

TARGET ACHIEVEMENT

MON

WED

DAYS

FRI

SUN

In this week also the depot was not able to achieve it’s target everyday leaving only Sunday .on Sunday it was able to achieve that. WEEK-51 DAYS TARGET ACHIEV E MENT % OF ACHIEV E MENT

MON 1500 0 1153 3

TUE 1500 0 1081 6

WED 1500 0 8993

THU 1500 0 6919

FRI 1500 0 8120

SAT 1500 0 1218 3

SUN 15000

TOTAL 105000

16579

75168

76.8 %

72.1 %

59.9 %

46.1 %

54.1 %

81.2 %

110.5 %

71.58%

INSTITUTE OF BUSINESS AND COMPUTER STUDIES [52]

The detailed graph of sales for week-51 is as follows

WEEK-51

20000 15000 10000

TARGET

ACHIEVEMEN

5000 0 MON

WED

FRI

SUN

DAYS From the above graph it is clear that the section was able to achieve it’s target only on Sunday . On Wednesday it was it’s minimum level. Sales hamper because of stock counting. WEEK-52 DAYS TARGET ACHIEV E MENT % OF ACHIEV EMENT

MON 1771 4 8618

TUE 17714

WED 17714

THU 17714

FRI 17714

SAT 17714

SUN 17716

8447

12584

13157

8671

9707

12485

TOTAL 12400 0 73668

48.6 5%

47.68 %

71.03 %

74.27 %

48.94 %

54.79 %

70.47 %

59.40 %

The detailed graph of week 52 is represented as follows INSTITUTE OF BUSINESS AND COMPUTER STUDIES [53]

WEEK-52

20000 15000 10000

TARGET

ACHIEVEMENT

5000 0

MON TUE WED THU FRI

SAT SUN

DAYS

From the above graph it is clear that the section was unable to achieve it’s target on each day.The maximum achievement is 74.27% which is on Thursday. REASON BEHIND THE TARGET NON-ACHIEVEMENT 1. Stock non-availability. 2. Non-availability of product type as per the customer

demand. 3. Unability of staff for attending the customer. 4. Customer inconvenience about the quality of the product. 5. Close supervision of management. INSTITUTE OF BUSINESS AND COMPUTER STUDIES [54]

6. Set price is not affordable for general customer. 7. Most of the customers are visitors. 8. Damaged products are kept alongwith the selling product which had a negative impact on the minds of the customer. 9. Withdraw of multimedia from depot section creats harassment for the customer entering Pantaloons. SQARE FEET ANALYSIS OF DEPOT SECTION Depot section is one of the smallest section of the pantaloons of Pantaloons at Bhubaneswar. It acquires a squre foot of 680 sq.foot. But previously it has acquired a square foot of 740 sq.foot due to withdrawl of multimedia it’s sqare foot got reduced.The entire store Pantaloons acquires a square foot of 56000 sq.foot. Through my topic I am subjected to calculate the per square foot contribution of depot section to the entire store. Among all the techniques of finding out profit of the store sqare foot analysis is one in which we have to calculate the sqare foot contribution of each and every section towards the entire store so that we could get the weaknesses and benefits it is providing to the total store. As per my topic is concerned and the period I have spent in the depot section I need to calculate the contribution of depot section. Measuring sales per square foot- This is calculated by dividing the total sale by total square foot of selling space of the store. Such as a store generate 5 lakhs in a day and the total selling space is 10000 square foot, then sales per square foot = 500000/10000= Rs 50 per square foot. This sqare feet analysis can be done on day basis ,week basis,even month basis. Generally month basis of calculation is followed. As per sales analysis of depot section we got the total sales contribution of depot section towards the store from the week starting from 47 to 52(i.e. for six month) which can be represented as follows INSTITUTE OF BUSINESS AND COMPUTER STUDIES [55]

After that we need to calculate the square foot contribution of depot section which can be calculated as follows .If the total sales of the depot section of week 47 is 88510 and the total square foot of the section is 680 then the contribution is 88510/680=130.16. Hence the contribution is 130.16 per week. WEEKS

WEEK47 88510

WEEK48 10826 7 130.16 159.2

WEEK49 96389

WEEK50 10742 5 141.74 157.9

WEEK51 75168

WEEK52 73669

TOTAL SALES CONTRI 110.54 108.33 BUTION Likewise we calculate the contribution per square foot for every weeks starting from 47 to 52 and put into a pie chart which is also represented as

CONTRIBUTION OF DEPOT TO STORE

1.40% 1.20% 1.00% 0.80% 0.60% 0.40% 0.20% 0.00% K5 2 W EE

K51 W EE

K50 W EE

K49 W EE

K48 W EE

W EE

K47

CONTRIBUTION

INSTITUTE OF BUSINESS AND COMPUTER STUDIES [56]

CONTRIBUTION PER SQUARE FOOT OF DEPOT SECTION 13%

16% WEEK-47

14%

WEEK-48 WEEK-49 WEEK-50

19% WEEK-51 20%

WEEK-52

18%

RECOMMENDATIONS ♦ We have to improve our product quality.

First of all we have to improve our quality of products mainly in case of office stationary and books. The damaged products should be removed from the site of sellable products because it creates inconvenience in the minds of the customer. ♦ Our price is higher than the local market.

Customers are complaining that our price is higher then the local market and also from competitors. Which is affecting our core values. We have to fix the price of our product comparing with the competitors and the local market to attract more customers. ♦ Some entertainment facility for the customers.

If we can give some entertainment to the customers like any type of competition, music shows, best couples award(every day). This type of things are attract more INSTITUTE OF BUSINESS AND COMPUTER STUDIES [57]

and more customers and they will satisfied and get a memorable experience while shopping in Pantaloons. ♦ Billing should be fast. Every department should

have their own billing counter. Mainly at the time of big discount days customers are facing problem in billing counters. At this time it should fast enough to give service more numbers of customers. Every department should have their own billing counters though every floor. ♦ Availability of product.

Our logistic should strong enough to deliver goods within one or two days. Many time customers are dissatisfied because they are not finding their own desired products. The sales executives can not say anything for availability of products. Logistic should strong enough to give promise to the customers for availability of products. ♦ Give sufficient service with in first call.

Our after-sale service is not strong we have to improve it. We need not gine a second chance to the customer to call for any help or complain. If a customer wants to exchange any thing be friendly with him and ask him about the problem. An exchange is better than no sale, but a satisfied customer is more important than a return policy.

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CHAPTER-4

INSTITUTE OF BUSINESS AND COMPUTER STUDIES [59]

DISCUSSION AND CONCLUSION Customers are the blood of an organization. In retail business customers are treated as breath. Retail business is concerned with the customers because it directly deals with the ultimate customers. In this modern era, customers are focusing more on service rather then price. Customer service is an important business process that firms carry out to ensure satisfaction and retention of their customers. Though it is a non-core activity of an organization, it helps in creating goodwill of the company since the company caters to the wants and needs of its customers. Customer service is a key parameter that differentiates a company from its competitors Customer service (also known as Client Service) is the provision of service to customers before, during and after a purchase. Customer service Refers to the identifiable, but sometimes intangible, activities undertaken by a retailer in conjunction with the basic goods and services it sells. be used as a driver for service quality improvement. These are some dimensions of service quality which are mainly perceived by the customers: • External

Characteristics or Tangibles (tidy

workplace, employee appearances) • Reliability

(meeting deadlines, consistency in

interactions) INSTITUTE OF BUSINESS AND COMPUTER STUDIES [60]

• Responsiveness • Consideration

(providing service promptly)

or Assurance (personnel who are

courteous, friendly, and polite: trustful and helpful). • Empathy

(giving individual care and attention:

comprehensible transactions) Of course the overall experience of the customers is satisfactory but we can make it memorable. We have to standardize our services by which customers will feel excited to come and purchase from Pantaloons, Bhubaneswar.

INSTITUTE OF BUSINESS AND COMPUTER STUDIES [61]

BIBLIOGRAPHY •

Kotler Philip, Marketing Management,Prentice Hall India (PHI) Publication, (10th Edition)

•

Shukla Madhukar, Understanding Organizations: Organizational Theory and Practice in India ,Prentice Hall India (PHI) Publication

•

Biyani Kishore, It Happened in India,Rupa & Co. Publication

• News papers:The Economic Times Business Standard • Websites: www.google.com/ www.pantaloon.com www.futuregroup.com www.bigbazaar.com

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