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Customer Satisfaction in Retail Sector With Reference To bigbazarr and easyday
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CUSTOMER SATISFACTION IN RETAIL SECTOR WITH REFERENCE TO EASYDAY & BIG BAZAAR IN AGRA
PROJECT REPORTSUBMITTED FOR THE FULFILMENT OF THE BACHELORS DEGREE IN
COMMERCE(HON.)
UNDER THE SUPERVISION OF: SUBMITTED BY:MR. TEJ SINGH KARAN VERMA 10A006 DAYALBAGH EDUCATIONAL INSTITUTE DEEMED UNIVERSITY DISTANCE EDUCATION PROGRAM DAYALBAGH, ADANBAGH , AGRA
THE INDIAN RETAIL SCENE
With a three year compounded annual growth rate of 46.6%,Retail sector is the fastest growing sector in the Indian economy.
Traditional markets are transforming themselves in new formats such as departmental stores,hypermarket,supermarket & speciality stores.
By 2014,Organised retailing in India will cross US$37.5 billion mark from the current size of US$21 billion
COUNTDOWN TO INDIA’S RETAIL REVOLUTION
The retail industry in India represents 22% of the GDP of India and makes a contribution of 8% of the overall number of jobs created in the country.
The unorganized retail sector has 94% presence whereas the organized accounts for merely 6%.
Industry has already predicted a trillion dollar market in organised retail sector in India by 2014.
India is undergoing a major shake-up as the country is witnessing a retail revolution.
The old traditional formats are slowly changing into more complex and bigger formats
EVOLUTION AND TRENDS IN ORGANIZED RETAILING FORMATS AND RETAIL OUTLETS
Hypermarket Supermarket Department store Convenience store Discount store Specialty store Mbo’s Malls Kirana store
Big Bazaar is a hypermarket is a chain of development store in India.
Founded by Kishore Biyani in 2001 Part of future group of companies. Initially three Big Bazaar stores wew
launched in Kolkata, Banglore & Hydrabad.
Currently 148 Big Bazaar stores in 70 cities.
Key categories retailed food, groceries, apparels, furnishing & consumer durables
The current retail formats of the Future Group include Big Bazaar, Food Bazaar, Electronic Bazaar and Furniture Bazaar.
3-C Theory
According to Kishore Biyani’s 3-C theory, Change and Confidence among the entire population is leading to rise in Consumption, through better employment and income which in turn is creating value to the agricultural products across the country. Big Bazaar has divided India into three segments:
India one: Consuming class which includes upper middle and lower middle class (14% of India's population).
India two: Serving class which includes people like drivers, household helps, office peons, liftmen, washermen, etc. (55% of India's population) and
India three: Struggling class (remaining 31% of India's population).
While Big Bazaar is targeted at the population across India one and India two segments, Aadhaar Wholesale is aimed at reaching the population in India three segment
With this, Future Group emerged as a retail destination for consumers across all classes in the Indian society.
SCHEMES AND INNOVATIONS
Wednesday Bazaar Sabse Sasta Din Maha Bachat The Great Exchange Offer
BUSINESS OF THE ABOVE STORE Fashion - pantaloons, Central, Brand Factory, Blue Sky,
Top 10, Fashion Station, Big Bazaar, Lee Cooper(JV) General Merchandise - Big Bazaar, Shoe Factory, Navras,
Electronics Bazaar, Furniture Bazaar, KB'SFAIR PRICE Electronics – E-zone, Electronic Bazaar, STAPLES (JV) Home Improvement - Home Town Furniture - Collection i, Furniture Bazaar, HomeBazaar E-tailing (Online Shopping) -www.futurebazaar.com Books & Music - Depot Leisure & Entertainment - Bowling Company Telecom & IT - Gen M, M Bazaar, M-Port, Converge M,
Future Axiom Consumer Durables - Koryo, Sensei, IPAQ Service - E Care, H Care , Design & Service
Easyday is an Indian retail brand that runs chains of consumer retail department stores
The brand is wholly owned by Bharti Enterprises Limited
Operated by its subsidiary, Bharti Retail Limited, which is headquartered in New Delhi.
The technical and management support for the brand is provided by Arkansas, United States based Wal-Mart Stores, Inc, which is the largest retailer in the world
First store was opened in Punjab,in April 2008. The number of stores functional is 220 in 110
towns &13 states across three different formats catering to about 76,000 people everyday.
LINES OF BUSINESS OF THE ABOVE
STORE
Great Value: Everyday-use products like flour, staples, cereals, spices, tea, cold beverages, sodas, jams, ketchups, dry fruits, corn flakes, Indian snacks, dish-wash bars, detergents etc.
Mainstays: basic home essentials, catering to kitchen & bathroom accessories, bed linen, cushion covers, towels, plastics, lighting solutions, and stationary.
Equate: personal care products, including cosmetics, deodorants, bar & liquid soaps, oral & dental care range, nail-cutters, and baby care products
George: Western apparel brand Astiva: Ethnic Indian wear, such as such as kurtas, kurtis,
salwar kameez, and ready to stitch fabric. Simply Basic: It is a brand designed to cater to everyday wear
and clothing needs. Faded Glory: This brand provides footwear.
NEED OF THE STUDY
To know about the future market trends in the organized retail sector in Agra.
To know the system of working of the retail sector.
To know about the consumer buying behavior pattern and their loyalty towards Big Bazaar and Easyday.
OBJECTIVES OF THE STUDY
To study about the product and services available of the selected organizations (Big Bazaar and Easyday) in Agra.
To study consumer’s preferences with reference to Big Bazaar and Easyday.
To study about consumer’s satisfaction with reference to their product and services.
SCOPE OF THE STUDY
It will extend to the actual field study of these outlets in Agra.
It will give information to prospective customers.
Help us gain independent knowledge about the consumer perception of the outlets identified.
The study can help the companies get additional research information.
It facilitates evaluation of brand name and customer satisfaction.
RESEARCH AND METHODOLOGY
DATA COLLECTION Primary Data – Self structured Questionnaire was used for collecting primary data. Secondary Data – Secondary Data was used by different concerned websites, Journal,
Magazines, newspapers and other published materials. Sample Area This study was conducted in Agra. Sampling Technique Convenient sampling was done. Sample Size 50 respondents including both Big Bazaar and Easyday. Statistical Tools The statistical tools were used like percentage and weighted average
method to make the study more reliable. Presentation Tools The data is presented through different charts, diagrams and tables
like pie charts, bar diagrams etc.
DATA ANALYSIS AND INTERPRETATION
Preferred place to shop
No. of customers
%
Big Bazaar
23 46
Easyday
11 22
Kiarana Store
12 24
Others 4 8
Total 50
Customer Preference
05
1015
2025
3035
4045
50
Big Bazaar Easyday Kirana Store Other
Customer Preference
Reasons for Customer’s Preferences
Number of customer
%
Low Price
16 32
Quality 18 36
Range 10 2
Nearby 4 8
Other 2 4
Reasons for Customer Preference
0
5
10
15
20
25
30
35
40
Low price Quality Range Nearby Other
Reasons for Customer Preference
Spending on Different Items Items Number of
Customers%
Grocery 10 20
Home Appliances
9 18
Furniture 8 16
Apparel 17 34
Others 6 12
Grocery
Home Appliance
Furniture
Apparel
Other
Promotional schemes of Big Bazaar &
Easyday Easyday %
Big Bazaar
%
Cash discount
15 30 35 70
Lucky draw scheme
10 20 40 80
Free gift scheme
11 22 39 78
Financing facilities
28 56 22 44
Guarantee/ Warranty
19 38 31 62
0
10
20
30
40
50
60
70
80
90
Warranty
Cash Discount Lucky DrawScheme
Free GiftScheme
FinancingFacility
Guarantee/Waraante
Easyday
Big Bazaar
Utility of Big Bazaar & Easyday
Utility Aspects
Agree
Neutral
Disagree
Rank
A place to shop
70 20 10 I
A place to socialise
2 22 76 IV
A place to enjoy
38 32 30 II
A place to experience
16 54 30 III 0
10
20
30
40
50
60
70
80
A place to shop A place tosocialize
A place to enjoy A place toexperience
Agree
Neutral
Disagree
Level of Customer Satisfaction
Factors Highly satisfied
Satisfied Neutral Dissatisfied
Highly dissatisfied
Rank
Pricing policy 20 24 32 16 8 IProduct quality
28 18 16 18 20 VII
Service quality 36 40 24 0 0 IIStaff knowledge
16 30 28 18 8 VI
Ambience 30 32 16 14 8 VEase of shopping
44 26 10 0 20 III
Overall shopping
26 30 24 20 8 IV
CONT.
0 20 40 60 80 100 120
Pricing Policy
Product Quality
Service Quality
Staff Knowledge
Ambience
Ease of Shopping
Overall Shopping
Highly Satisfied
Satisfied
Neutral
Dissatisfied
Highly Dissatisfied
FINDINGS
60% customers prefer to purchase from organized retail outlets as compare to unorganized retail outlets.
During the study it comes to know that customers spend 40% - 50% of their monthly budget at organized retail outlets.
Organized retail outlets provide better quality, product range as compare to unorganized retail outlets.
Future the market share of unorganized retail will reduce 60% - 80%, because Customers shifting from unorganized retail outlets because Customers shifting from unorganized retail outlets to organized retail outlets.
During study it is observed that these organized retail outlets attracting the middle & upper class customers, the lower class person still prefer to purchase from the local Kirana Stores.
The findings of the study conclude that 80% of the customers are youngsters aged between 16-25 and among them more males from the urban sector Easyday &Big Bazaar.
SUGGESTIONS
The organized retail outlets should improve the quality of Vegetables & fruits they provide to customers.
The organized retail outlets should provide the free home delivery facility.
The organized retail outlets should increase the no. of billing counters in their outlets.
In order to attract the rural sector customers, Easyday & Big Bazaar may extend their advertisements offering special sale promotion schemes to the rural areas.
The customers are dissatisfied with the Pricing policies at the Easyday Therefore, they should concentrate on developing these aspects properly, besides extending more cash discount and free gifts schemes to attract the customers at a higher level should also provide the credit facility to the lower class customers so that they can increase their market share.
Big Bazaar should focus on quality, discount and attractive display of products, as these are very important factors considered by the customers while making purchase decisions.
LIMITATIONS
Due to the constraints of time, the study was confined to two stores in Agra city.
The sample was taken on the basis of convenience; therefore the shortcomings of the convenience sampling may also be present in this study.
The sample size chosen for the purpose was only indicative and not exhaustive owing to time constraints
People were hesitant to disclose the true facts. The chance of biased response can’t be
eliminated though all necessary steps were taken to avoid the same.
THANK YOU