it’s all about mutual funds - · web viewproject study report on titled “ an...

A Project Study Report

On

Titled “An empirical study on consumer preferences while

Selecting organised retail shop in udaipur city.”

Submitted in partial fulfillment for the

Award of degree of

Master of Business Administration (2007-09)

PACIFIC INSTITUTE OFPACIFIC INSTITUTE OF MANAGEMEN MANAGEMENT, UDAIPURT, UDAIPUR..

PREFACE

To excel in any field practical training is an integral part to imply theoretical studies to a practical

approach. It makes the individual to the actual practical conditions, which could have been

impossible to be tough in classroom? A trainee learnt dealing with the workers and management

working environment along with operational skills.

I have great pleasure by having my project title “An empirical study on consumer preferences while selecting organised retail shop in udaipur”

The project is a sincere attempt to focus on the subject in a lucid manner.

I make an effort to carry out a survey and a study deep on a subject. During a survey, I get

result that what is customer preferences while purchasing retail shop in udaipur customer are

satisfied or not.

2

Acknowledgement

I express my sincere thanks to my project guide, Mr. Shivoham singh, Designation assistant

professor, pacific institute of management studies (udaipur), for guiding me right form the

inception till the successful completion of the project. I sincerely acknowledge him for

extending their valuable guidance, support for literature, critical reviews of project and the

report and above all the moral support he had provided to me with all stages of this project.

I would also like to thank to Dr. B.P. Sharma, director of pacific institute of management

studies (udaipur) for their help and cooperation throughout our project.

(Signature of Student)

Devendra Kumar pitliya

3

EXECUTIVE S U MM A RY

I have done my major research project on “an empirical study on consumer preferences

while selecting organised retail shop in udaipur city”

My objectives are:-

1. To find out the customer preferences while selecting organised retail shop in udaipur

City.

2. To find out the various factor which affect purchase decision.

3. To find out the customer satisfaction level at various retail shop in udaipur city

This project has been a great learning experience for me; at the same time it gave me

enough scope to implement my analytical ability.

In first chapter of this report, the Introduction about the retail About Industry. In The

second chapter the details about the organization profile & products in the third chapter

about the objectives and research methodology. the forth chapter covers the analysis of

data collection and interpretation .the fifth chapter consists of findings and conclusion.

The sixth chapter consist of suggestion. The last chapter that is seventh consists of the

Limitation of the Study.

The project assigned was based on finding preferences while selecting organised retail

shop in udaipur. The methodology of sample selecting survey was conducted in around

50 sample were collected . The opinion of all these respondents were collected and

analyzed, for data collection survey technique was used in which a questionnaire was

prepared consisting of close ended questions.

All the topics have been covered in a very systematic way. The language has been kept

simple so that even a layman could understand. All the data’s have been well analyzed

with the help of charts and graphs.

4

CONTENTS

Acknowledgement Preface Executive summary

S.No. CONTENTS PAGE

No.

1. Introduction to the Industry 6

2. Introduction to the Organization 47

3. Objective & research methodology 62

4 Analysis and Interpretation 64

5. Finding 90

6 Recommendation and Suggestions 93

7. Limitation 95

8. Appendix 97

9. Bibliography 101

5

INTRODUCTION OF RETAIL INDUSTRY

6

INTRODUCTION

The India Retail Industry is the largest among all the industries, accounting for over

10 per cent of the countryï¿½s GDP and around 8 per cent of the employment. The

Retail Industry in India has come forth as one of the most dynamic and fast paced

industries with several players entering the market. But all of them have not yet

tasted success because of the heavy initial investments that are required to break

even with other companies and compete with them. The India Retail Industry is

gradually inching its way towards becoming the next boom industry.

The total concept and idea of shopping has undergone an attention drawing change

in terms of format and consumer buying behavior, ushering in a revolution in

shopping in India. Modern retailing has entered into the Retail market in India as is

observed in the form of bustling shopping centers, multi-storied malls and the huge

complexes that offer shopping, entertainment and food all under one roof.

A large young working population with median age of 24 years, nuclear families in

urban areas, along with increasing workingwomen population and emerging

opportunities in the services sector are going to be the key factors in the growth of

the organised Retail sector in India. The growth pattern in organised retailing and in

the consumption made by the Indian population will follow a rising graph helping the

newer businessmen to enter the India Retail Industry.

In India the vast middle class and its almost untapped retail industry are the key

attractive forces for global retail giants wanting to enter into newer markets, which in

turn will help the India Retail Industry to grow faster. Indian retail is expected to grow

25 per cent annually. Modern retail in India could be worth US$ 175-200 billion by

2016. The Food Retail Industry in India dominates the shopping basket. The Mobile

phone Retail Industry in India is already a US$ 16.7 billion business, growing at over

20 per cent per year. The future of the India Retail Industry looks promising with the

growing of the market, with the government policies becoming more favorable and

the emerging technologies facilitating operations.

7

Indian retail market

The Indian retail market, which is the fifth largest retail destination globally, was ranked

second after Vietnam as the most attractive emerging market for investment in the retail

sector by AT Kearney's seventh annual Global Retail Development Index (GRDI), in

2008. The share of retail trade in the country's gross domestic product (GDP) was

between 8–10 per cent in 2007. It is currently around 12 per cent, and is likely to reach

22 per cent by 2010.

Commercial real estate services company, CB Richard Ellis' findings state that India's

retail market is currently valued at US$ 511 billion, and is poised to grow to US$ 833

billion by 2013. The report further stated that organised retail that currently accounts for

less than 5 per cent of the total retail market is expected to register a compound annual

growth rate (CAGR) of 40 per cent and swell to US$ 107 billion by 2013.

A report by global consultancy firm, AT Kearney said "The consumer spending in India

has increased by an impressive 75 per cent in the last four years and will quadruple in

the next 20 years." Moreover, India recently topped the Nielsen Global Consumer

Confidence study, conducted by Nielsen, a market research company. The biannual

report revealed that Indians are "the most optimistic lot globally who think that their

country will be out of the economic recession in the next twelve months."

According to the recent report by McKinsey & Company titled 'The Great Indian Bazaar,

Organized Retail Comes of Age in India', India's overall retail sector is likely to grow to

US$ 450 billion by 2015. Another McKinsey report 'The rise of Indian Consumer Market',

estimates that the Indian consumer market is likely to grow four times by 2025.

In a joint study recently conducted by ASSOCHAM and KPMG, the following findings were

revealed:

The total retail market size in India in 2008 was estimated at US$ 353 billion.

8






















In a joint study recently conducted by ASSOCHAM and KPMG, the following findings

were revealed:


The annual growth of the retail market in India is expected to be around 8 per

cent.

The total retail market size in India is likely to touch US$ 416 billion by 2010.

The present share of organised retail sector is estimated at 7 per cent.

The estimated annual growth of organised retail sector is 40 per cent.

The size of organised retail sector by 2010 is estimated to reach US$ 51 billion. 9

The estimated share of organised retail in total retail by 2010 is 12 per cent.

The investment into modern retailing formats over the coming 4-5 years is

expected to be around US$ 25-30 billion.

The great Indian consumer market is still going strong. The ETIG analysis carried out by

the Economic Times revealed that most mass consumer satisfied and service in India

were not much affected by the global economic slowdown. Despite the inflation

experienced during the period, the second-quarter results of leading 70 consumer-

related firms revealed that their aggregate revenues increased by 8.5 per cent during

the September 2008 quarter over the same period in 2007. Even though this was a tad

lower than the 9 per cent growth posted during the first quarter of 2008-09, it was a lot

higher than the 7 per cent registered during the previous three quarters for these firms.



















Organized Retail Comes of Age in India', India's overall retail sector is likely to grow to 10




were revealed:



cent.




The size of organised retail sector by 2010 is estimated to reach US$ 51 billion.





the Economic Times revealed that most mass consumer goods and service in India







Growth Continues Apace

Despite the global economic slowdown, Indian retailers are still optimistic about the

India growth story. Speaking on the issue, Mr Tarun Joshi, CEO and MD of Brandhouse

Retails said



11





















were revealed:



cent.




The size of organised retail sector by 2010 is estimated to reach US$ 51 billion.




12


the Economic Times revealed that most mass consumer goods and service in India







Growth Continues Apace

Despite the global economic slowdown, Indian retailers are still optimistic about the

India growth story. Speaking on the issue, Mr Tarun Joshi, CEO and MD of Brandhouse

Retails said “Fashion retail has not been impacted in a big way. Not even 0.5 per cent of

the working population has been hit in India.” “The Indian economy is more stable than

other economies across the world and one must not confuse India with the rest of the

world”, reiterated Mr Sandeep Kulhalli, V-P, Retail and Marketing, Tanishq.

With the 30-40 per cent drop in retail rentals, Indian retailers are a happy lot. In fact,

retailers are also foreseeing further drops in rentals in 2009 and they are optimistic

about their expansion plans for this year.

Retailers such as Spencer's Retail, Future Group, Shoppers Stop, Westside, Wills

Lifestyle, Bata India, and Raymond, have plenty of expansion plans for 2009.

The Future Group will focus on launching private labels with high profit margins in

segments like toothpaste, shampoo, and butter amongst others. According to

Kishore Biyani, MD and CEO of the Future Group, "Another thrust area will be

entering into new segments like rural retail and telecom products distribution.

Through 'Aadhar' we can ramp up rural retail, which is outside the 20 per cent of

the population we have been targeting so far."

Aggressive marketing efforts by leading retailers are on. Tanishq is planning a

marketing effort for plain gold along with the World Gold Council during the last

quarter of 2008-09. Similarly, Brandhouse Retails is planning a joint venture with

13

a European private apparel label for the next financial year, along with the

introduction of a few more international brands.

In West Bengal, leading retailers like the Future Group and Spencer's Retail, are

expanding and upgrading their present stores in 2009. Others like Wills Lifestyle,

Turtle Ltd, and Bisk Farm, are planning to set up new stores, particularly in the

suburbs.

Auto company Mahindra & Mahindra (M&M) has made a quiet foray into the retail

sector with the soft launch of its specialty format Mom & Me to sell infant care

and maternity products. The company has launched two outlets in Ludhiana and

Ahmedabad.

India has one of the largest number of retail outlets in the world. A report by Images

Retail estimates the number of operational malls to grow more than two-fold, to cross

412, with 205 million square feet by 2010, and a further 715 malls to be added by 2015,

with major retail developments even in tier-II and tier-III cities in India.

Even as the organised retail market is starting to take off, there is an associated surge in

branded discount outlets in India. Top realtors and local retail chains are developing

malls in regional boroughs, specifically to sell premium branded goods.

THE INDIAN RETAIL SCENE

India is the country having the most unorganised retail market. Traditionally it is a

familyï¿½s livelihood, with their shop in the front and house at the back, while they

run the retail business. More than 99% retailerï¿½s function in less than 500 square

feet of shopping space. Global retail consultants KSA Technopak have estimated

that organised retailing in India is expected to touch Rs 35,000 crore in the year

2005-06. The Indian retail sector is estimated at around Rs 900,000 crore, of which

the organised sector accounts for a mere 2 per cent indicating a huge potential

market opportunity that is lying in the waiting for the consumer-savvy organised

retailer.14

Purchasing power of Indian urban consumer is growing and branded merchandise in

categories like Apparels, Cosmetics, Shoes, Watches, Beverages, Food and even

Jewellery, are slowly becoming lifestyle products that are widely accepted by the

urban Indian consumer. Indian retailers need to advantage of this growth and aiming

to grow, diversify and introduce new formats have to pay more attention to the brand

building process. The emphasis here is on retail as a brand rather than retailers

selling brands. The focus should be on branding the retail business itself. In their

preparation to face fierce competitive pressure, Indian retailers must come to

recognize the value of building their own stores as brands to reinforce their

marketing positioning, to communicate quality as well as value for money.

Sustainable competitive advantage will be dependent on translating core values

combining products, image and reputation into a coherent retail brand strategy.

There is no doubt that the Indian retail scene is booming. A number of large

corporate houses ï¿½ Tataï¿½s, Rahejaï¿½s, Piramalsï¿½s, Goenkaï¿½s ï¿½

have already made their foray into this arena, with beauty and health stores,

supermarkets, self-service music stores, newage book stores, every-day-low-price

stores, computers and peripherals stores, office equipment stores and home/building

construction stores. Today the organised players have attacked every retail

category. The Indian retail scene has witnessed too many players in too short a time,

crowding several categories without looking at their core competencies, or having a

well thought out branding strategy.

STRATEGIES, TRENDS AND OPPORTUNITIES 2007

Retailing in India is gradually inching its way toward becoming the next boom

industry. The whole concept of shopping has altered in terms of format and

consumer buying behavior, ushering in a revolution in shopping in India. Modern

retail has entered India as seen in sprawling shopping centres, multi-storied malls

and huge complexes offer shopping, entertainment and food all under one roof. The

Indian retailing sector is at an inflexion point where the growth of organised retailing

and growth in the consumption by the Indian population is going to take a higher

growth trajectory. The Indian population is witnessing a significant change in its

demographics. A large young working population with median age of 24 years, 15

nuclear families in urban areas, along with increasing workingwomen population and

emerging opportunities in the services sector are going to be the key growth drivers

of the organised retail sector in India.

India: Retail sector will grow by 15% in 2008-09

The economic slowdown has taken its toll on the growth of organised retailing in India.

The organised retail sector will grow by some

15% in 2008-09 as compared to the 30% growth it has been witnessing, according to

latest projections by the apex industry body Retailers Association of India (RAI).

"The growth in India’s organised retailing will be hit due to weak consumer sentiments

and the slowdown in fresh investment. Retailers are quite cautious in opening new stores

since property prices are falling and are waiting for more viable deals," RAI chief

executive officer Kumar Rajagopalan told ET.

The association also estimates modern retail will halve its recruitment in 2009-10. "Fresh

employment in retail is directly proportional to growth. The sector creates a lot of indirect

employment which will take a hit too. For instance, every two jobs created directly fuels

one job for support functions like in a supply chain," said Mr Rajagopalan.

Typically, a department store recruits one person for every 200 sq ft, speciality retailers

employ four people per 100 sq ft and a hypermarket will have one person per 300 sq ft.

RAI represents the interests of organised retailers in India and has nearly 405 companies

on board. This includes Future Group, Trent, Reliance Retail, Aditya Birla Retail, Globus,

Shopper’s Stop and Spencer’s. Organised retailing constitutes around 5% of the

country’s total retail sector valued at approximately Rs 13 lakh crore.

However, a section of the industry feels the country’s organised retailing will not be as hit

16

as RAI estimates. While sales have slowed down after Diwali, there have been

occasional spurts as during Christmas and the extended period of discounts. "Our

estimates suggest modern retailing will grow by around 25% this fiscal," said leading

retail consultancy Technopak Advisors chairman Arvind K. Singhal.

Mr Rajagopalan said retail sector growth is directly proportional to that of GDP. "The

government needs to take measures to boost retail sector growth. It should initiate efforts

to bring back consumer confidence, waive service tax on retail space rentals and provide

some flexibility on labour laws for the sector," he said.

Source: economictimes.indiatimes.com

17

http://economictimes.indiatimes.com/News-by-Industry/Retail-sector-will-grow-by-15-pc-in-09/articleshow/4212157.cms

GROWTH OF RETAIL SECTOR IN INDIA

Retail and real estate are the two booming sectors of India in the present times. And

if industry experts are to be believed, the prospects of both the sectors are mutually

dependent on each other. Retail, one of Indiaï¿½s largest industries, has presently

emerged as one of the most dynamic and fast paced industries of our times with

several players entering the market. Accounting for over 10 per cent of the

countryï¿½s GDP and around eight per cent of the employment retailing in India is

gradually inching its way toward becoming the next boom industry.

As the contemporary retail sector in India is reflected in sprawling shopping centers,

multiplex- malls and huge complexes offer shopping, entertainment and food all

under one roof, the concept of shopping has altered in terms of format and

consumer buying behavior, ushering in a revolution in shopping in India. This has

also contributed to large-scale investments in the real estate sector with major

national and global players investing in developing the infrastructure and

construction of the retailing business. The trends that are driving the growth of the

retail sector in India are

Low share of organised retailing

Falling real estate prices

Increase in disposable income and customer aspiration

Increase in expenditure for luxury items (CHART)

As the contemporary retail sector in India is reflected in sprawling shopping centers,

multiplex- malls and huge complexes offer shopping, entertainment and food all

under one roof, the concept of shopping has altered in terms of format and

consumer buying behavior, ushering in a revolution in shopping in India. This has

also contributed to large-scale investments in the real estate sector with major

national and global players investing in developing the infrastructure and

18

construction of the retailing business. The trends that are driving the growth of the

retail sector in India are

Low share of organised retailing

Falling real estate prices

Increase in disposable income and customer aspiration

Increase in expenditure for luxury items (CHART)

RETAILING FORMAT IN INDIA

Malls:The largest form of organised retailing today. Located mainly in metro cities, in

proximity to urban outskirts. Ranges from 60,000 sq ft to 7,00,000 sq ft and above.

They lend an ideal shopping experience with an amalgamation of product, service

and entertainment, all under a common roof. Examples include Shoppers Stop,

Piramyd, and Pantaloon.

Specialty Stores:

Chains such as the Bangalore based Kids Kemp, the Mumbai books retailer

Crossword, RPG's Music World and the Times Group's music chain Planet M, are

focusing on specific market segments and have established themselves strongly in

their sectors.

19

Discount Stores:

As the name suggests, discount stores or factory outlets, offer discounts on the MRP

through selling in bulk reaching economies of scale or excess stock left over at the

season. The product category can range from a variety of perishable/ non-perishable

goods.

Department Stores:

Large stores ranging from 20000-50000 sq. ft, catering to a variety of consumer

needs. Further classified into localized departments such as clothing, toys, home,

groceries, etc.

Departmental Stores are expected to take over the apparel business from exclusive

brand showrooms. Among these, the biggest success is K Raheja's Shoppers Stop,

which started in Mumbai and now has more than seven large stores (over 30,000 sq.

ft) across India and even has its own in store brand for clothes called Stop.

Hyper marts/Supermarkets:

Large self-service outlets, catering to varied shopper needs are termed as

Supermarkets. These are located in or near residential high streets. These stores

today contribute to 30% of all food & grocery organised retail sales. Super Markets

can further be classified in to mini supermarkets typically 1,000 sq ft to 2,000 sq ft and

large supermarkets ranging from of 3,500 sq ft to 5,000 sq ft. having a strong focus on

food & grocery and personal sales.

20

Convenience Stores:

These are relatively small stores 400-2,000 sq. feet located near residential areas.

They stock a limited range of high-turnover convenience products and are usually

open for extended periods during the day, seven days a week. Prices are slightly

higher due to the convenience premium

MBO’s :

Multi Brand outlets, also known as Category Killers, offer several brands

across a single product

category. These usually do well in busy market places and Metros.

RECENT TRENDS

Retailing in India is witnessing a huge revamping exercise as can be seen in the

graph

India is rated the fifth most attractive emerging retail market: a potential goldmine.

Estimated to be US$ 200 billion, of which organised retailing (i.e. modern trade)

makes up 3 percent or US$ 6.4 billion

As per a report by KPMG the annual growth of department stores is estimated at

24%

Ranked second in a Global Retail Development Index of 30 developing countries

drawn up by AT Kearney.

Multiple drivers leading to a consumption boom:

o Favorable demographics

o Growth in income 21

o Increasing population of women

o Raising aspirations: Value added goods sales

Food and apparel retailing key drivers of growth

Organized retailing in India has been largely an urban

Phenomenon with affluent classes and growing number of double-income

households.

More successful in cities in the south and west of India. Reasons range from

differences in consumer buying behavior to cost of real estate and taxation laws.

Rural markets emerging as a huge opportunity for retailers reflected in the share

of the rural market across most categories of consumption

ITC is experimenting with retailing through its e-Choupal and Choupal

o Sagar ï¿½ rural hypermarkets.

o HLL is using its Project Shakti initiative ï¿½ leveraging women self-help

groups ï¿½ to explore the rural market.

o Mahamaza is leveraging technology and network marketing concepts to

act as an aggregator and serve the rural markets.

IT is a tool that has been used by retailers ranging from Amazon.com to eBay to

radically change buying behavior across the globe.

ï¿½E-tailingï¿½ slowly making its presence felt

CHALLENGES & OPPORTUNITIES

Retailing has seen such a transformation over the past decade that its very definition

has undergone a sea change. No longer can a manufacturer rely on sales to take

place by ensuring mere availability of his product. Today, retailing is about so much

more than mere merchandising. Itï¿½s about casting customers in a story, reflecting

their desires and aspirations, and forging long-lasting relationships. As the Indian

consumer evolves they expects more and more at each and every time when they

steps into a store. Retail today has changed from selling a product or a service to

selling a hope, an aspiration and above all an experience that a consumer would like

22

to repeat.

For manufacturers and service providers the emerging opportunities in urban

markets seem to lie in capturing and delivering better value to the customers through

retail. For instance, in Chennai CavinKareï¿½s LimeLite, Maricoï¿½s Kaya Skin

Clinic and Apollo Hospitalï¿½s Apollo Pharmacies are examples, to name a few,

where manufacturers/service providers combine their own manufactured products

and services with those of others to generate value hitherto unknown. The last mile

connect seems to be increasingly lively and experiential. Also, manufacturers and

service providers face an exploding rural market yet only marginally tapped due to

difficulties in rural retailing. Only innovative concepts and models may survive the

test of time and investments.

However, manufacturers and service providers will also increasingly face a host of

specialist retailers, who are characterized by use of modern management

techniques, backed with seemingly unlimited financial resources. Organized retail

appears inevitable.

Retailing in India is currently estimated to be a US$ 200 billion industry, of which

organised retailing makes up a paltry 3 percent or US$ 6.4 billion. By 2010,

organised retail is projected to reach US$ 23 billion. For retail industry in India,

things have never looked better and brighter. Challenges to the manufacturers and

service providers would abound when market power shifts to organised retail.

23

CONCLUSION

The retail sector has played a phenomenal role throughout the world in increasing

productivity of consumer goods and services. It is also the second largest industry in

US in terms of numbers of employees and establishments. There is no denying the

fact that most of the developed economies are very much relying on their retail

sector as a locomotive of growth. The India Retail Industry is the largest among all

the industries, accounting for over 10 per cent of the countryï¿½s GDP and around 8

per cent of the employment. The Retail Industry in India has come forth as one of the

most dynamic and fast paced industries with several players entering the market.

But all of them have not yet tasted success because of the heavy initial investments

that are required to break even with other companies and compete with them. The

India Retail Industry is gradually inching its way towards becoming the next boom

industry.

24

Types of retail

Rural Retail

Led by the rising purchasing power, changing consumption patterns, increased access

to information and communication technology and improving infrastructure, the rural

retail market is estimated to cross US$ 45.32 billion mark by 2010 and US$ 60.43 billion

by 2015, according to a study by Confederation of Indian Industry (CII) and YES Bank.

As per the National Council of Applied Economic Research (NCAER) reports, there are

720 million consumers across 6, 27,000 villages in rural India.

According to a report—India Retail Report 2009— by Images FR Research, "India's

rural markets offer a sea of opportunity for the retail sector. The urban-retail split in

consumer spending stands at 9:11, with rural India accounting for 55 per cent of private

retail consumption." Rural India accounted for almost half of the Indian retail market,

which was worth about US$ 273.64 billion in September 2008. With most of the retail

markets getting saturated in tier-I and tier-II cities, the next phase of growth is likely to

be seen in the rural markets.

Major domestic retailers like AV Birla, ITC, Godrej, Reliance and many others have

already set up farm linkages. Hariyali Kisan Bazaars (DCM) and Aadhars (Pantaloon-

Godrej JV), Choupal Sagars (ITC), Kisan Sansars (Tata), Reliance Fresh, and Naya

Yug Bazaar, are established rural retail hubs. Retail giants like Reliance, Spencer's and

Subhiksha are also expanding in semi-urban and rural areas.

Luxury Retail

By the next four to five years, India is expected to become a manufacturing hub for

global luxury brands, according to a FICCI-Yes Bank report on luxury brands. The report

states that India has the most rapidly growing high-net worth individuals (HNI)

population in the world, and the income level of consumers is expected to grow three

times by 2025. The active age group (25–45 years) is likely to rise to a third of the

population.

25

The report further states that the manufacturing business of luxury items in India can

cross US$ 500 million with global brands like Louis Vuitton and Frette looking at India as

a manufacturing base.

According to a survey done by AT Kearney, the Indian luxury retail market is estimated

to touch US$ 30 billion by 2015. Estimated to be the 12th largest in the world, it has

been growing at the rate of 25 per cent per annum.

E-tailing

The increase in personal computers (PC) and internet penetration along with the

growing preference of Indian consumers to shop online has given a tremendous boost

to e-tailing, the online version of retail shopping. An estimated 10 per cent of the total e-

commerce market is accounted for by e-tailing. Several online retailers are reporting

good business in categories like travel, art, books and music. E-tailing in lingerie and

fresh fruit businesses is also doing well.

Retail Franchising

Along with e-tailing, another perceptible trend in the growth of organised retail market

has been the concept of retail franchising. According to industry estimates, retail

franchising has been growing at the rate of 60 per cent in the last three years and is set

to grow two-fold in the next five years. And with immense potential seen in this segment,

the US$ 4 billion-franchising industry is likely to see an almost two-fold rise in the

number of franchisees (from 0.2 million) by 2010.

Innovative Retail Concepts

With the entry of new players and the market becoming increasingly competitive, retail

players are using innovative retail concepts to attract consumers.

26

With reduced commodity prices and the recent excise duty cuts, input costs have come

down by around 25-30 per cent in several categories. Subsequently, many value

retailers have brought down prices by over 15 per cent for various product categories to

encourage greater consumption. They are also stepping up their bargains and discount

offers. Retailers like Big Bazaar, D'Mart, Spencer's and Food Bazaar, among other

retailers, have begun slashing prices in product categories like apparel, home products,

and foods (private labels). In fact, modern retailers are now also selling private labels

with consumers looking out for cheaper brands.

Retail companies are also developing and promoting their in-house brands. The Future

Group will be targeting profits worth US$ 2.05 billion from its in-house brands in FMCG,

household consumer durable and electronics and apparel categories by 2012. After the

good performance of its in-house consumer brands such as Tasty Treat, Fresh & Pure,

DJ&C, Koreo, the company now wants to extend it to additional categories like health &

beauty, dairy, apparel, and accessories.

Furthermore, Big Bazaar, the hypermarket chain of Future Group, is introducing

Customer Advisory Boards (CABs) as a measure for receiving valuable customer

feedback.

With the US$ 6.31 billion pharma retailing becoming progressively more organised,

players are now looking at newer formats to attract more people to their stores.

Pharmacy chains like MedPlus and Goodlife have started providing health check-ups,

diagnostic services, dental care and medical counselling to its patients, besides selling

pharma and wellness products.

Goodlife is tying up with the retail major, Future group, to set up these convenience

clinics at malls and in the high streets. MedPlus operates 15 such integrated clinics, and

is planning to open at least 50 such clinics by March 2009.

Innovative concepts in recreational retail are pulling people to malls, and big retail set-

ups account for a small but rapidly growing part of a multi-million dollar industry. There

are a variety of concepts like made-to-order pottery-painting, portrait-making, creating

toons or casting gold and silver impressions that have proliferated in malls or exist as

standalone ventures. In fact, a whole new concept of customised, leisure retail has

opened up for the Indian consumer.

27

Investments on the Anvil

India's vast middle class with its expanding purchasing power and its rapidly growing

retail industry are key attractions for global retail giants wanting to enter newer markets.

Impact Retail Private Ltd is planning to invest US$ 41.16 million for launching 30

Xcite consumer electronics retail showrooms in Indian metros by December

2009.

Pyramis India (retailers of branded kitchen accessories), is planning to launch

215 exclusive showrooms with at an investment US$ 4.11 million, over the next

four months.

German lifestyle brand Puma is getting into a joint venture with Knowledge Fire to

sell Puma products ranging from apparel to shoes and accessories. Puma will

hold 51 per cent stake in the JV. The JV targets to open 40 retail stores in India in

2009 and take it up to 140 by 2015.

Indian ethnic wear chain, Fabindia has picked up a 25 per cent stake in the UK-

based womens' wear retailer EAST. The amount was not disclosed and Fabindia

has the choice to buy out the remaining stake in the next three years.

Footwear retail company Pavers England Footprint, will be investing US$ 10

million to set up 1,000 stores across India by 2013. Presently, the company has

25 stores in India. The company is also looking at setting up an R&D facility in

Chennai for designing footwear, with an investment of US$ 3 million.

In partnership with the Future Group, Axiom Telecom (a mobile retail company

from West Asia) will be forming a joint venture company called Future Axiom

Telecom Ltd. The 50:50 JV plans an initial investment of around US$ 40 million,

and targets setting up 1,500-outlets by the end of December 2009.

Mumbai-based retail food and grocery player Wadhawan Food Retail (WFRL)

plans to invest US$ 308.90 million to set up 1,300 stores across India during

2008-2012. The retail chain currently has 200 stores, managed through four

branded formats - 'Spinach', 'Sabka Bazaar', 'The Home Store' and 'Smart Retail'.

Spencer's Retail will be establishing 300 additional stores by 2010 with an

investment of US$ 102.88 million. Presently, Spencer's has 700 stores, which

account for a retail space of 2.5 million, which will increase by another 1.3 million

sq ft by 2010. 28

Similarly, ITC's Wills Lifestyle and John Players plan to expand their presence in

tier II & III cities, increasing their retail space around 15-20 per cent. Currently,

there are over 50 Wills Lifestyle stores in India.

Shopper's Stop is also planning to invest US$ 205.78 million for increasing its

present store space of 1.3 million square feet to 2.7 million square feet over the

coming 3-4 years.

Leading footwear retailer Bata India is planning to establish 60 stores in 2009

across the country.

Leading garments retailer Raymonds is planning to establish 50 additional stores

in tier II & III cities across the country. According to Aniruddha Deshmukh,

President, Rretail and FMCG, Raymond, its retail stores have witnessed revenue

growth of 12 per cent in recent months, despite the ongoing economic slump.

Tata Group's Trent, (which operates Westside), is planning to add 8-10 stores

every year to its present 31 store in India.

The Future Group will be investing US$ 30.86 per sq ft and US$ 41.15 per sq ft

respectively for an additional 3.5 lakh sq ft for Big Bazaar and 50,000 sq ft for

Pantaloons stores over the next one year in eastern India.

Bisk Farm, the US$ 41.16 million biscuit brand promoted by Saj Industries, will be

launching a bakery retail chain called ‘Bisk Farm, Just Baked'. The company

plans to

open 100 franchise stores in different parts of the country soon.

Government Initiatives

The government has taken various measures to promote and encourage investment in

the Indian retail industry.

The Government allows 100 per cent FDI in cash and carry through the automatic route

and 51 per cent in single brands. Besides, the franchise route is available for big

operators. To further attract global retailers, the economic survey 2007–08 has

suggested a share for foreign equity in all retail trade and 100 per cent in respect of

luxury brands and other specialised retail chains.

29

However, many industry experts feel that the Indian tariff structure has to be streamlined

as India levies one of the highest duties and taxes on imported luxury goods. This fuels

the growth of the grey market and duty-free purchases, even as the stringent regulatory

environment encumbers investment by foreign brands.

Exchange rate used: 1 USD = 48.6024

30

INDUSTRY PROFILE

31

RETAIL INDUSTRY:

Retailing is one of the pillars of the economy in India and accounts for 35%

of GDP. The retail industry is divided into organised and unorganised sectors.

Over 12 million outlets operate in the country and only 4% of them being larger

than 500 sq ft (46 m²) in size. Organized retailing refers to trading activities

undertaken by licensed retailers, that is, those who are registered for sales tax,

income tax, etc. These include the corporate-backed hypermarkets and retail

chains, and also the privately owned large retail businesses. Unorganised

retailing, on the other hand, refers to the traditional formats of low-cost retailing,

for example, the local kirana shops, owner manned general stores, beedi shops,

convenience stores, hand cart and pavement vendors, etc.

INDUSTRY OVERVIEW:

Facts and other statistics in this section relating to India, the Indian

economy and Indian Retail Industry has been derived from various publications

and obtained in from agencies that we believe to be reliable. However, we cannot

guarantee the quality or reliability of such source of materials. While our directors

have taken reasonable care in the reproduction of the information, they have not

been prepared or independently verified by us, the Underwriters or any of our or

their respective affiliates or advisers and, therefore, we make no representation

as to the accuracy of such facts and statistics, which may not be consistent with

other information compiled within or outside India. Due to possibly flawed or

ineffective collection methods or discrepancies between published information

and market practice and other problems, the statistics herein may be inaccurate

or may not be comparable to statistics produced for other economies and should

not be unduly relied upon. Further, there is no assurance that they are stated or

compiled on the same basis or with the same degree of accuracy as may be the

32

case elsewhere. In all cases, investors should give consideration as to how much

weight or importance they should attach to or place on such facts or statistics.

Unless otherwise indicated, all financial and statistical data in the following

discussion is derived from CRIS INFAC – Retailing Industry – Annual Review –

September 2005 (hereinafter referred as CRIS INFAC).

INDIAN RETAIL INDUSTRY:

Organized retail in India is on a high growth trajectory and is growing at

the rate of 24-26% annually. The size of the total retail industry market is

estimated to be around Rs. 9,990 billion in 2004-05, with organised retailing

accounting for a mere 3.5% of the India’s total retail market. In its Annual Review,

CRIS INFAC estimated the organised retail penetration to increase to 8% by

2010 at a CAGR of 26%. The organised retail penetration is projected to increase

to 5.8% by 2007-08.

33

The Indian Retail Market:

Indian market has high complexities in terms of a wide geographic spread

and distinct consumer preferences varying by each region necessitating a need

for localization even within the geographic zones. India has highest number of

outlets per person (7 per thousand) Indian retail space per capita at 2 sq ft

(0.19 m²)/ person is lowest in the world Indian retail density of 6 percent is

highest in the world. (9) 1.8 million households in India have an annual income of

over 45 lakh (10) delving further into consumer buying habits, purchase decisions

can be separated into two categories: status-oriented and indulgence-oriented.

CTVs/LCDs, refrigerators, washing machines, dishwashers, microwave ovens

and DVD players fall in the status category. Indulgence-oriented products include

plasma TVs, state-of-the-art home theatre systems, iPods, high-end digital

34

cameras, camcorders, and gaming consoles. Consumers in the status category

buy because they need to maintain a position in their social group. Indulgence-

oriented buying happens with those who want to enjoy life better with products

that meet their requirements. When it comes to the festival shopping season, it is

primarily the status-oriented segment that contributes largely to the retailer’s cash

register.

The break-up of organised retailing sales into various product categories

Books, Music & Gifts: 3% Mobile Handsets: 3% Clothing & Textile: 39% Food &

Grocery: 11% Consumer Durables: 9% Footwear: 9% Furniture & Furnishings:

8% Catering Services: 7% Jewellery & Watches: 7% Others: 4%.

Major Indian Retailers:

Indian apparel retailers are increasing their brand presence overseas,

particularly in developed markets. While most have identified a gap in countries in

West Asia and Africa, some majors are also looking at the US and Europe.

Arvind Brands, Madura Garments, Spykar Lifestyle and Royal Classic Polo are

busy chalking out foreign expansion plans through the distribution route and

standalone stores as well. Another denim wear brand, Spykar, which is now

moving towards becoming a casual wear lifestyle brand, has launched its store in

Melbourne recently. It plans to open three stores in London by 2008-end.

The low-intensity entry of the diversified Mahindra Group into retail is

unique because it plans to focus on lifestyle products. The Mahindra group is the

fourth large Indian business group to enter the business of retail after Reliance

Industries Ltd, the Aditya Birla Group, and Bharti Enterprises Ltd. The other three

groups are focusing either on perishables and groceries, or a range of products,

or both.

35

Major Indian Retailers:

RPG Retail Music World, Books & Beyond, Spencer’s Hyper,

Spencer’s Super, Daily & Fresh .

Pantaloon Retail Big Bazaar, Food Bazaar, Pantaloons, Central,

Fashion Station, Brand Factory, Depot, all, E-Zone etc.

Tata Group Westside, Star India Bazaar, Steel junction, Landmark,

Titan Industries with World of Titans showrooms,

Tanishq outlets, Chroma.

K Raheja Corp. Group

Shoppers’ Stop, Crossword, Hyper City, Inorbit

Lifestyle International-Lifestyle, Home Centre, Max,

Fun City and International Franchise brand stores.

Pyramid Retail Pyramid Megastore, TruMart

Nilgiri’s Nilgiris’ supermarket chain

Subhiksha Subhiksha supermarket pharmacy and telecom

discount chain.

Trinethra Fabmall supermarket chain and Fabcity hypermarket

chain

Vishal Retail Group Vishal Mega Mart

BPCL In & Out

Reliance Retail Reliance Fresh

Reliance ADAG Retail

Reliance World, German Metro Cash & Carry

Shoprite Holdings Shoprite Hyper.

Retail evolution:

Retailing in India has witnessed tremendous growth in the last few years.

Textile manufacturers like Bombay Dyeing, Raymond, S Kumar's and Grasim

were the first to set up retail chains. Thereafter, Titan successfully implemented

the organised retailing concept in India by establishing a series of well-designed

stores. Organized retailing first started picking up in South India, primarily due to

the availability of land at prime locations and cheaper real estate prices. The

36

early '90s saw the establishment of shops by Madura Garments and Zodiac,

which focused on 'one brand'. By the latter half of the decade, players in various

segments were making their presence felt on the retail scene: Food world,

Subhiksha and Nilgiris in food and FMCG; Planet M and Music World in music;

Crossword and Fountainhead in books.

Since then organised retailing in India has witnessed a radical

transformation. Shoppers' Stop was the pioneer in department stores and the

concept of malls evolved with Spencers in Chennai, Ansals in Delhi and

Crossroads in Mumbai. Initially, the players making forays into the mall scene

were those that had a construction background like the Rahejas and the

Piramals. Gradually, competition increased with more retail chains entering the

business and setting up stores. In spite of steep growth, the turnover of the top

five retailers in India (Pantaloon Retail, Shoppers' Stop, RPG, Trent and Lifestyle)

was less than Rs 30 billion, which was about 8 per cent of the total organised

retail market in 2004-05. In a bid to garner larger market shares, nearly all major

players have announced huge expansion plans.

At present, most players have announced ambitious expansion plans. In

order to differentiate and grow, players have adopted different strategies. Some

have chosen to operate in multiple formats, some are expanding to smaller cities

and others are focusing on supply chain management and operations. The

strategies adopted by these players will not only determine turnover growth but

also their profitability.

Growth:

An increasing number of people in India are turning to the services sector

for employment due to the relative low compensation offered by the traditional

agriculture and manufacturing sectors. The organised retail market is growing at

35 percent annually while growth of unorganised retail sector is pegged at 6

percent. 37

The Retail Business in India is currently at the point of inflection. Rapid

change with investments to the tune of US $ 25 billion is being planned by

several Indian and multinational companies in the next 5 years. It is a huge

industry in terms of size and according to management consulting firm

Technopak Advisors Pvt. Ltd., it is valued at about US $ 350 billion. Organized

retail is expected to garner about 16-18 percent of the total retail market (US $

65-75 billion) in the next 5 years.

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 economy has registered a

growth of 8% for 2007. The prediction for 2008 is 7.9%. The enormous growth of

the retail industry has created a huge demand for real estate. Property

developers are creating retail real estate at an aggressive pace and by 2010, 300

malls are estimated to be operational in the country.

With over 1,000 hypermarkets and 3,000 supermarkets projected to come

up by 2011, India will need additional retail space of 700,000,000 sq ft

(65,000,000 m²) as compared to today. Current projections on construction point

to a supply of just 200,000,000 sq ft (19,000,000 m²), leaving a gap of

500,000,000 sq ft (46,000,000 m²) that needs to be filled, at a cost of US$15-18

billion.

38

DRIVERS FOR GROWTH IN RETAILING:

Higher Disposable Income:

The disposable income of Indian consumers has increased steadily. The

proportion of the major consuming class (population that has an annual income

that is higher than Rs. 90,000) is expected to grow at a CAGR of 9.3 per cent

(2002-2010) over the next 8 years and will result in higher spending capacity and

eventually into greater consumption

Higher level of working women:

According to the 2001 census report, the population of working

women has increased from 22 per cent in 1991 to 26 per cent in 2001. The

purchasing habit of a working woman is different from that of a housewife, since

the former has lesser time to devote to the task. Working women would prefer a

one stop shop for purchasing their regular products. Also, a working woman's

propensity for spending is higher than that of a housewife

Increase in nuclear families

In the recent past, nuclear families as a percentage of the total household

population have increased. Average household sizes have decreased from 5.57 39

in 1991 to 5.36 in 2001. Per capita consumption increases in the case of a

nuclear family. The rise in the number of nuclear families will, thus, drive

consumption and boost the retail industry.

Baby boomer effect

There has been a strong demographic shift in India's population

distribution. The percentage of the earning population (15 to 60 yrs) in the total

population is rising. This will increase the overall purchasing capacity in the

country, propelling growth in the retail segment.

40

Higher growth in urban population:

At present, organised retailing is focused in metros and is expected to

expand to Tier-2 cities. For the next 10 years, growth in organised retailing is

expected to take place in urban areas. Thus, the target market for organised

retail players is the urban population. Urbanisation has increased at a rate of 2.7

per cent over the last 10 years (1990-2000) and is expected to increase at 2.4

per cent from 2000 to 2015. In 2015, the population in urban areas is expected to

touch 401 million, accounting for about 32.2 per cent of the total population

Higher income levels in urban population:

Greater growth in the numbers of the urban middle class and strong

growth in income levels augurs well for the growth of organised retailing, as we

41

believe that in the medium term organised retailing will be restricted to the urban

areas of India.

The proportion in total population of the segment with an annual income

higher than Rs 90,000 (that is, the major consuming class) has increased from

20.4 per cent in 1995-96 to 28.1 per cent in 2001-02. However, the share of the

major consuming class in the urban region has increased at a higher rate, from

45 per cent in 1998-99 to 51 per cent in 2001-02, and it is expected to touch 63

per cent by 2009-10. Further, the income levels of the urban middle class are

also expected to register a strong growth in the medium term.

Change in outlook on branded products and Growth in the number of retail malls:

In the last 4-5 years, Indian markets have witnessed a strong shift towards

branded products as Indian consumers have started feeling that branded goods

offer better quality and greater value for money. This increase in the awareness

42

of branded goods has been the highest in the case of apparel. Increased

exposure to international consumerism trends and fast-changing lifestyles can

result in a 10-15 per cent growth in branded goods, which will, in turn, provide a

platform for the growth of organised retail.

The last 2-3 years have also witnessed a proliferation in malls in India,

particularly in the metros and mini metros. The growth in retail malls provides

more options for retailers, as it reduces the time required to set up a retail outlet.

It also provides retail space, which can be leased by retailers instead of investing

in building up their own store. This significantly reduces the capital intensity of the

retail industry. Typically, a retail chain would prefer to lease store space in a mall

instead of setting up a standalone store, since this reduces capital investment,

which can be employed in their core business of retailing.

Increased use of credit cards and availability of cheap finance:

The use of plastic money (credit and debit cards) has increased

significantly in the last 3-4 years. The number of credit cards issued has grown at

a CAGR of 26 per cent in the last 5 years to touch 15.5 million by March 2005,

while debit cards have grown by a whopping 113 per cent to touch 29.8 million by

March 2005. In fact the ease of payments (ability to spend without cash) due to

the use of credit and debit cards, has also led to an increase in total spending on

shopping and eating out.

With the acceptance of and the increase in the number of electronic data

converter machines installed in retailing outlets, we believe credit and debit cards

will provide further fillip to organised retail

Expansion plans of existing players:

43

The top players in the market are adding floor space. The growth would

come from both same store sales growth and new stores. Players are getting into

new segments as well as geographies. Players who earlier concentrated on the

lifestyle segment are seen moving into value-based retailing with food and

grocery stores and hypermarkets to tap the opportunity. In fact, the top 3

players are expected to triple their floor space in the next 3 years. Players are

also getting into new segments, formats and geographies. Pantaloon plans to

take its retail space to 8 million square feet in 3 years and RPG has planned to

increase its retail space in the next 5 years to 4.5 million square feet.

India vs. World

Indian retail is fragmented with over 12 million outlets operating in the

country. This is in comparison to 0.9 million outlets in USA, catering to more

than 13 times of the total retail market size as compared to India

India has the highest number of outlets per capita in the world - widely

spread retail network but with the lowest per capita retail space (@ 2 sq. ft.

per person)

Annual turnover of Wal-Mart (Sales in 2001 were $219 billion) is higher

than the size of Indian retail industry. Almost 100 times more than the

turnover of HLL (India's largest FMCG company).

Wal-Mart - over 4,800 stores (over 47 million square meters) where as none

of India's large format store (Shoppers' Stop, Westside, Lifestyle) can

compare.

The sales per hour of $22 million are incomparable to any retailer in the

world. Number of employees in Wal-Mart are about 1.3 million where as the

entire Indian retail industry employs about three million people.

One-day sales record at Wal-Mart (11/23/01) $1.25 billion - roughly two

third of HLL's annual turnover.

44

Developed economies like the U.S. employ between 10 and 11 percent of

their workforce in retailing (against 7 percent employed in India today).

60% of retailers in India feel that the multiple format approach will be

successful here whereas in US 34 of the fastest-growing 50 retailers have

just one format

Inventory turns ratio: measures efficiency of operations. The U.S. retail

sector has an average inventory turns ratio of about 18. Many Indian

retailers KPMG surveyed have inventory turns levels between 4 and 10.

Global best-practice retailers can achieve more than 95 percent availability

of all SKUs on the retail shelves (translating into a stock-out level of less

than 5 %).The stock-out levels among Indian retailers surveyed ranged

from 5 to 15 percent.

Future direction: Positives

AT Kearney has estimated India’s total retail market at US$ 202.6 billion

which is expected to grow at a compounded 30 per cent over the next five

years.

With the organised retail segment growing at the rate of 25-30 per cent per

annum, revenues from the sector are expected to triple from the current

US$ 7.7 billion to US$ 24 billion by 2010.

The share of modern retail is likely to grow from its current 2 per cent to 15-

20 percent over the next decade

Over next two years India will see several Indian retail businesses attaining

a critical mass as growth in the industry picks up momentum driven by two

key factors:

– Availability of quality real estate and mall management practices

– Consumer preference for shopping in new environments

Wal-Mart : huge plans for India. Moving a senior official from its

headquarters in Bentonville, Arkansas, to head its market research and

business development functions pertaining to its retail plans in India.

New York-based high-end fashion retailer Saks Fifth Avenue has tied up

45

with realty major DLF Properties to set up shop in a mall in New Delhi.

Tommy Hilfiger, retailer of apparels, expects to open one store each in

Delhi, Ahmedabad, Lucknow and Bangalore in the next four months.

Future direction: Concerns

68 million square feet of mall space is expected to be available by end of

2007, which might lead to over-capacity of malls

Lack of differentiation among the malls that are coming up. One option may

be to look at specialization.

Poor inventory turns and stock availability measures - retailers clearly need

to augment their operations.

Operations of retailers and suppliers are not integrated. Efficient

replenishment practices practiced in the Indian auto and auto-component

industry can be leveraged to implement efficient supply chain management

techniques.

Supplier maturity, in terms of adherence to delivery schedules and

delivering the quantity ordered, is an issue

Sales tax laws - lead to retailers having state-level procurement and

storage leads to Indian retailers having higher inventories. VAT has helped

alleviate this a bit.

Increased adoption of IT and shrinkage management will be a critical area.

Supply chain and customer relations followed by merchandising, facilities

management and vendor development are areas which have significant

gaps and proactive training is a key imperative for overcoming these.

46

INTRODUCTION ABOUT THE VISHAL MEGA MART

INTRODUCTION OF ORGANISATION

47

MAJOR ORGANISED RETAILER IN UDAIPUR CITY• VISHAL MEGA MART

• RELIANCE FRESH

• V MART

• SAHAKARI UPBHOKATA BHANDAR

• SUBHIKSHA

48

Introduction

Organized relating in India, is chanting the way people used to feel about

shopping. What was once thought to be the favorite activity of housewives is

now, an enjoyable experience for everybody. Form shopping in overcrowded,

unorganised and at times upon market under scorching heat, to shopping in an

AC environment with great music and thousand of times across different

categories with freedom to touch , feel and try , the Indian consumer has certainly

come along way . Shopping , which was once thought to be a burdensome

activity , especially by male member , has now become a great source of Fun

and enjoyment ,not only for individual shoppers but also for families who can be

seen rushing to malls, hypermarkets, departmental store discount store and other

form of organised retail outlet ,specially on weekends. They are buying more than

what they are plan and are spending huge amount of money on an environment,

which gives them great Fun and excitement.

However, such a shift in the attitude towards shopping has only

been limited to metros and some of the other cites and towns, where malls,

hypermarket and discounting stores like big bazaar, vishal mega mart (VMM),

Subhiksha, food bazaar, etc., are opening up. A large part of the Indian

population is yet to get the exposure to such shopping experiences. In fact, the

share of organised retailing in India India is only 3-4%, which means organised

retiling will take more than a decade to reach rural India.

In Udaipur city, vishal mega mart came up as the first organised retail

outlet in the form of a mini hypermarket cum discount store, in the year 2007.

With its inception in Udaipur, shopping got an all together new meaning. A Big

parking lot a centralized AC environment covering fore special floors, soothing

music, a tempting visual display of products with self selection facility to choose

49

from a wide assortment and a verity of product priced with occasional heavy

discount are some of the striking features of the vishal mega mart retail outlet . It

has made shopping, an altogether enjoyable experience. Unlike traditional

shopping, when one had to go many outlets under scorching heat, vishal mega

mart has many items under one roof along with a reasonably priced food joint

where one can relax, on getting tired. It is assumed that it will affect the way in

which people in Udaipur city purchase and consumer things. Moreover,

competing retailers are afraid of gaiting eaten by this big fish.

Introduction about vishal group:

Vishal Group launched their first hyper market Vishal Mega mart in

Udaipur. Spread over 25,000 sq. ft, the store offers extensive range of men's,

women's and kids' range of fashion clothing. Beside fashion attire, it will also

have separate sections and counters for watches, sunglasses, fashion

accessories, gifts and novelties, electrical appliances, digital diaries, perfumes,

cosmetics and grocery items etc.

Currently, Vishal Mega Mart operates 29 fully integrated and self-owned

stores spread over a total shopping area of 5,70,000 sq.ft in 21 cities across India

Vishal

Retail Ltd. has a factory in Gurgaon, Haryana. This factory has more than 700

imported machines that have a capacity to manufacturer 150000 pieces a month.

The factory occupies 80000 sq ft of covered space. The Vishal group indirectly

gives employment to more than a 1000 people. These people work in ancillaries

that supply finished goods to the company.

50

Vishal Retail Ltd. started as a humble one store enterprise in 1986 in

Kolkata (erstwhile, Calcutta) is today a conglomerate encompassing 183

showrooms in 110 cities / 24 states across India. It is covering about 29, 90, 146 sq. ft.. India’s first hyper-market has also been opened for the Indian consumer

by Vishal. Situated in the national capital Delhi this store boasts of The group had

a turnover of Rs. 1463.12 million for fiscal 2005, under the dynamic leadership of

Mr. Ram Chandra Agarwal. The group had a turnover of Rs 2884.43 million for

fiscal 2006 and Rs. 6026.53 million for fiscal 2007.

The group’s prime focus is on retailing. The Vishal stores offer affordable

family fashion at prices to suit every pocket. The group’s philosophy is integration

and towards this end has initiated backward integration in the field of high fashion

by setting up a state of the art manufacturing facility to support its retail

endeavors.

Vishal is one of fastest growing retailing groups in India. Its outlets cater

to almost all price ranges. The showrooms have over 70,000 products range

which fulfills all your household needs, and can be catered to under one roof. It is

covering about 29,90,146 sq. ft. in 24 states across India. Each store gives you

international quality goods and prices hard to match. The cost benefits that is

derived from the large central purchase of goods and services is passed on to the

consumer singe largest collection of goods and commodities sold under one roof

in India.

SOME SPECIAL INFORMATION ABOUT VISHAL MEGA MERT:

Vishal Retail Company was incorporated on July 23, 2001 as “Vishal

Retail Private Limited”. After this Company was converted into a public limited

company on February 20, 2006 and the name was changed to “Vishal Retail

Limited”. At present Public Issue of Vishal Retail aggregating to Rs. 1,100 million.

51

The registered office of Vishal Retail Company was changed from Mouza-

Kuch Pukur, P.S. Bhangore, 24 Paragnas (South), West Bengal to the current

registered office with effect from December 29, 2005.)

Vishal Retail is registered at the Registrar of Companies, National Capital

Territory of Delhi and Haryana situated at Pariyavaran Bhawan, Block B, 2nd

Floor, CGO Complex, Lodhi Road, New Delhi 110 003. Vishal Retail registration

number is

55-147724 and the corporate identification number is

U74999DL2001PLC147724.

Overview:

Vishal mega mart (VMM) is one of the leading retail houses in India. As

of November 15, 2006, VMM operated 461 retail stores, including three stores

which are operated by our franchisees. These 46 stores are spread over about

1,113,000 square feet and are located in 17 states across India. In our efforts to

strengthen our supply chain, VMM have set up seven regional distribution centers

and an apparel manufacturing plant.

VMM started as a retailer of ready-made apparels in Kolkata in 2001. In

2003, VMM acquired the manufacturing facilities from Vishal Fashions Private

Limited and M/s Vishal Apparels. Subsequently, with evolution of retail industry in

India and change in consumer aspirations, VMM diversified our portfolio of

offerings to include other retail goods. Currently, VMM sell ready-made apparels

and a wide range of household merchandise and other consumer goods such as

footwear, toys, watches, toiletries, grocery items, sports items, crockery, gift and

novelties.

52

VMM follow the concept of value retail in India. In other words, There

business approach is to sell quality goods at reasonable prices by either

manufacturing ourselves or directly procuring from manufacturers (primarily from

small and medium size vendors and manufacturers). VMM endeavour to facilitate

one-stop-shop convenience for our customers and to cater to the needs of the

entire family. VMM believe this concept has helped us grow to our current size

within a short time frame of four years.

In order to reduce costs and take advantage of economies of scale Vishal

Mega Mart have embarked on backward integration of there products. There

apparel manufacturing plant is located at Gurgaon, Haryana. For ensuring

efficiency in supply chain, VMM have set up seven regional distribution centers

located around Kolkata (West Bengal), Thane (Maharashtra), Jaipur (Rajasthan),

Ghaziabad (Uttar Pradesh), Ludhiana (Punjab), Gurgaon (Haryana) and Delhi.

Further, VMM have focused on developing a cost and time efficient distribution

and logistics network, which currently comprises seven distribution centers and a

fleet of trucks for transportation.

VMM achieved total sales of Rs. 2,884.43 million for fiscal 2006, as

opposed to a turnover of Rs. 1,463.12 million for fiscal 2005 and Rs. 881.04

million for fiscal 2004. During the same period our profit after tax was Rs. 124.74

million, Rs.30.20 million and Rs. 3.82 million, respectively. As a result, our sales

increased between fiscal 2004 and fiscal 2006 at a CAGR of 80.94% and our

profit after tax increased between fiscal 2004 and fiscal 2006 at a CAGR of

471.44%.

53

PRODUCTS CATEGORIES OF VISHAL MEGA MART

HOME FURNISHING

Drawing Room: Door Mat, Carpet, Curtains

Kitchen : Apron Kitchen, Napkin

Bedroom: Bed Sheet ,Pillows, Pillow Cover

Bathroom: Bath Mats ,Towel Gift Sets

FOODMART & BEVERAGES

Beverage

Cooked Indian

Cooked Chinese

Cold Drinks

Fruits & Vegetabl

Snacks

SPORTS & FITNESS

INDOOR GAMES: Basket Ball, T.T. Bat, Boxing

Kit, Swimming Costumes, Water Ball

OUTDOOR GAMES: Cricket Bat, Football ,Lawn

Tennis, Tennis Racket, Tennis Ball

Fitness Equip. Personal Gym

54

http://www.vishalmegamart.net/fruits-imported.htm

http://www.vishalmegamart.net/foodmartfood2.htm

http://www.vishalmegamart.net/foodmartchinese.htm

http://www.vishalmegamart.net/foodmartindian.htm

http://www.vishalmegamart.net/foodmartfood1.htm

http://www.vishalmegamart.net/homefurnish.htm

http://www.vishalmegamart.net/sports.htm

FOOTWEAR

BOYS: Shoes, Sandals

GIRLS: Slippers, Sandals

MENS : Shoes, Slippers

LADIES: Shoes, Slippers

TELEMART

Communication: Mobile

Mobile Accessories: Mobile Batteries, Mobile

Charger, Mobile Dori

MENS

Upper: :Shirt Casual, Shirt Formal

Upper Ethnic & Sports: Night Suits, T-Shirts,

Dupatta, Sherwani

Lower: Jeans(MP), Cotton Trouser(MPC)

Winter Wear: Suit(WMC) ,Blazer(WMB),

Windcheater(WMW), Jacket

LADIES ACCESSORIES

55

http://www.vishalmegamart.net/men.htm

http://www.vishalmegamart.net/footwear.htm

http://www.vishalmegamart.net/telemart.htm

http://www.vishalmegamart.net/men.htm

Upper: Kurta ,Skirt Top

Lower: Pants JeansCapri

Ethnic : Nighty ,Lancha ,Sharara, Salwar Suit

Winter Wear: Jackets, Stawl ,Blazer, Track Suit

INFANTS

Garments: Hot Pant, Frock ,Baba Suit.

Accessories: Bed Sheet, Under Garments,

Socks.

Winter Wear: Sweater, Pull Over.

WOMEN

Sarees: Fancy(SRF), Synthetics,

Banarsi

Personal Items: Cap(LCA), Socks(Las)

Jewellery: Necklace, Ring

Cosmetics: LIp Gloss, Nail Polish

KIDS BOYS

Lower: Jeans, Bermudas, Dungries

Sets: Night Suit, Baba Suit

Winter Wear: Suit, Blazer, Jacket

Upper : Shirt Formal, T-Shirt

Ethnic: Kurta- Pyjama, Sherwani

56

http://www.vishalmegamart.net/kidsboys.htm

http://www.vishalmegamart.net/ladiesaccessindex.htm

http://www.vishalmegamart.net/infants.htm

http://www.vishalmegamart.net/women.htm

http://www.vishalmegamart.net/kidsboys.htm

KIDS GIRLSLower: Hot Pant, Skirt, Dungries

Sets: Night Suit, Capri Set

Winter Wear: Hipster Set, Blazer Blazer, Jacket

Upper: Tops(GWT), Frock(GFK)

Ethnic: Sharara, Lancha

TRAVEL ACCESSORIES

Luggages: Suitcase

Pouch & Cases: Waist Pouch, Vanity Cases

Portfolio Bags : Shoulder Bags, Executive

Bag ,School Bags

KITCHENAcrylic Ware: Dinner Set

Home Aids: Floor Wiper,Sanitary

Brush

General Plastic Goods:Coffee Mug ,Bucket

Glass Ware Cup, Lemon Set

Copper: Jug

Pressure Cooker: Cooker,Pressure Pan

Electrical App.: Chopper,Microwave

57

http://www.vishalmegamart.net/trvallindex.htm

http://www.vishalmegamart.net/kidsgirls.htm

http://www.vishalmegamart.net/kidsgirls.htm

http://www.vishalmegamart.net/trvallindex.htm

Oven

Thermo Ware : Tiffin,Container

Steel: Cake Server

Non Stick: Handi,Dosa Tawa

Bone China : Soup Set,Dessert Set

Porcelain: Cup & Saucer

TOYS & GAMES

Soft Toys : Musical Toys,Non-Musical

Board Games :Wooden Blocks -Puzzles

Dolls: Barbie Doll,Other Dolls

Infant Toys : Teether-Swing

Cycles & Scooters: Cycles,Scooters

Video Games : T.V. Video Game-Hand Video

Game

STATIONARY

School :Exam Board,Clay

Party Stuff :Balloons -Ribbons

Office:Office File,Punching Machine

Paper Mart :Diary,File

HOUSEHOLD

Cleaning Aids

Plastic Aids

Kitchen Wares

Appliances

58

http://www.vishalmegamart.net/appliances1.htm

http://www.vishalmegamart.net/kitchenaids1.htm

http://www.vishalmegamart.net/plasticgoods1.htm

http://www.vishalmegamart.net/cleaning-aids1.htm

http://www.vishalmegamart.net/stationary.htm

http://www.vishalmegamart.net/toysgames.htm

http://www.vishalmegamart.net/toysgames.htm

http://www.vishalmegamart.net/stationary.htm

RELIANCE FRESH

APKA FRESH APKA PADAOS MEIndia’s Fortune 500 private sector giant, Reliance Industries Ltd, has, in fact, been first

off the blocks by launching its first Reliance Fresh outlets in Hyderabad,

59

Reliance fresh is the retail chain division of reliance industries of India which is headed

by mukesh ambani. Reliance has entered into this segment by opening new retail stores

into almost every metropolitan and regional area of India. Reliance plans to invest rs

25000 crores in the next 4 years in their retail division and plans to begin retail stores in

784 cities across the country. The reliance fresh supermarket chain is ril’s rs 25,000

crore venture and it plans to add more stores across different g, and eventually have a

pan-India footprint by year 2011. The super marts will sell fresh fruits and vegetables,

staples, groceries, fresh juice bars and dairy products and also will sport a separate

enclosure and supply-chain for non-vegetarian products. Besides, the stores would

provide direct employment to 5 lakh young Indians and indirect job opportunities to a

million people, according to the company. The company also has plans to train students

and housewives in customer care and quality services for part-time jobs.

RELIANCE FRESH IN UDAIPUR

Part of Reliance Industries of India Fresh supermarket opened its doors

Reliance

Fresh supermarket opened its door

RELIANCE FRESH

60

.Reliance Fresh is the convenience store format Part of Reliance Industries of India

which is headed by Mukesh Ambani RIL’s dream of retail revaluation gotkicked-started

in AP when its Reliance Fresh supermarket opened its doors

to World.Following the first , company opened10 more stores as a first step towards

creating a mega retail chain across the country

The Reliance Fresh supermarket chainwas Ril’s Rs. 25000 crores venture

It sells fruits , vegetables, stapels ,groceries, and dairy producCont… Retail chain

closely follows the moves of global players like Wal-Mart store Inc and Metro AG

seeking to open shop here in country

It has almost more than 500 fresh across the country Corporates -Indian Retail

.

Product range

Vegetables and fruits.

House hold Items.

.Food and Beverages.

Groceries.

Dairy Products

Refrigerated product

Non food items.

Ready to eat items.

61

OBJECTIVES

&62

RESEARCH METHODOLOGY

Objective of the studyThe main aim of the present study is to accomplish the following objectives: 1. To find out the customer preferences while selecting retail shop in

udaipur city

2. To find out the various factor which affect purchase decision.

3. To find out the customer satisfaction level at various retail shop in

udaipur city

63

RESEARCH

METHODOLOGY

RESEARCH METHODOLOGY

1.Nature of data: (a)primary data-collected through questionnaire

(b)Secondary data- collected through newspaper, magazine

& websites.

65

2.Sample size- 50 Respondents

3.Sample design- convenience sampling

4.Research design – Descriptive research design

5.Area of Study - Udaipur City

6.Questinnaire design- Form the purpose of study a structured questionnaire was

Prepared.

DATA ANALYSIS

66

AND

INTERPRETATION

1.Gender

No. of Respondent Percentage

Male 23 46

Female 27 5

Total 50 100

67

INTERPRERATION-

From above data 23 respondent is male and 27 is female.

2.Age

Age wise distribution of Respondents

Age No. of Respondent Percentage

15-25 7 14

25-35 21 42

35-45 20 40

45& above 2 4

total 50 100

68

Age in year

7

21 20

2

0

5

10

15

20

25

15-25 25-35 35-45 45& above

age group

no o

f res

pond

ent

Interpretation- 1. From above data majority of purchaser is 25-35 age group .

2. 35-45 age group also major purchaser as compared to age group 15-25 , 45 &above

year.

3. Occupations

Occupation wise distribution of Respondents

Occupation No. of Respondent Percentage

Student 9 18

Self-employed 8 16

salaried 18 36

Professional 14 28

other 1 2

total 50 100

69

Interpretation

1.Salaried person purchase from the retail shop most 36%.

2.Student & professional also purchase the retail shop in big percentage.

4.Monthly Income

Income wise distribution of Respondents

Monthly Income No. of Respondent Percentage

Below 10000 18 36

10000-20000 19 38

20000-30000 6 1

30000-40000 6 12

40000 & above 1 2

total 50 100

70

Interpretation1. majority of person who monthly income Rs.10000-20000 is purchase from

organised retail shop.

2. Income group below Rs.10000 is also main purchaser of organised retail shop.

5.Frequency of Purchase

Frequency wise distribution of Respondents

Frequency No. of Respondent Percentage

Daily 9 18

Twice a week 13 26

More than Twice a

week

4 8

More than Twice a

Month

8 16

Once a month 16 32

total 50 100

71

Interpretation1. Frequency of purchase is mostly is once a month due to shortage of time.

2. Daily purchase is also 18%.

3. Twice a week also purchase is 26%.

6.Monthally Purchase

Purchase wise distribution of Respondents

Monthly Purchase No. of Respondent Percentage

Below Rs.500 9 18

Rs.500-1000 10 20

Rs.1000-1500 12 24

Rs.1500-2000 8 16

More thanRs.2000 11 22

total 50 100

72

Interpretation1. People monthly purchase is maximum is Rs. 1000-1500.

2. All group is almost same purchase.

7. Person influenced for organised retail purchase-

Person wise distribution of Respondents


Friend 21 42

Impulse 4 8

Advertisement 11 22

Promotions 3 6

Relative / friend 11 22

total 50 100

73

Interpretation1. Mainly people purchase to organised retail shop due to influences of friend 42%.

2. Advertisement is also affective tool which affect purchase decision.

3. Relative also impact 22% on purchase decision.

4. Impulse & promotions is low percentage.

8.Time of Purchase

Time wise distribution of Respondents

Time No. of Respondent Percentage

9AM-1PM 12 24

1PM-5PM 10 2074

5PM-9PM 25 50

9PM-1AM 3 6

Total 50 100

Interpretation1. Mainly people purchase organised retail shop at time slot 5 pm -9pm.

2. 9am -1pm & 1pm-5pm is also good purchase time ..

75

9. Product purchase (1 for best 6 for least)

Interpretation1. 56% respondent purchase food product from organised retail shop.

2. 40% Respondents purchase grocery items.

3. 32%people purchase daily use items.

S.no Product name Average Rank1 Food products 1.16

2 Grocery 2.563 Apparels 4.02

4 Electrical and electronics 4.345 Daily use product 3.44

6 Toiletries 5.38

76

10. Payment Mode


Cash 41 82

Credit card 9 18

Total 50 100

Interpretation1. 82% respondent payment the bill through cash.

2. 18% people pay the bill through credit card.

77

PAYMENT MODE

41

9

05

1015202530354045

CASH CREDIT CARD

MODE

NO O

F RE

SPO

NENT

Factor Affecting Purchase Decision

78

Factor affecting purchase decision

(1for best 6 for least)

Interpretation- convenience is main factor which affect purchase decision.

quality is also factor which affect purchase decision.

S.no Factor which affect selecting retail shop Average Rank

1 Convenience 1.442 Quality 2.143 Product Availability 2.304 Price level 2.725 Offer & scheme 3.566. Service quality 3.58

79

Customer satisfaction level

80

1.Price level

No. of respondents Percentage

Strongly satisfied 4 8

Satisfied 20 40

About Average 16 32

Some what satisfied 6 12

Dissatisfied 4 8

total 50 100

Interpretation1. 40% respondent is satisfied.

81

2. 32% respondent average satisfied.

3. very few respondent is strongly satisfied.

4. very few respondent is dissatisfied.

2. Availability of product



Satisfied 21 42

About Average 7 14


Dissatisfied 3 6

total 50 100

82

Interpretation1.42% Respondent is satisfied.

2.26 %Respondent is very satisfied.

3.Only 6%respondent is dissatisfied.

3. Quality of product



Satisfied 23 46

About Average 7 14


Dissatisfied 2 4

total 50 100

83

Interpretation1.46% Respondent is satisfied with product quality

2.28% Respondent strongly satisfied with product quality.

4.Offer & Scheme



Satisfied 6 12

About Average 12 24


Dissatisfied 17 34

total 50 100

84

Interpretation-1.34%Respondent is dissatisfied with offer & scheme

2.10%people is very satisfied.

3.24% people is average satisfied.

5. Convenience



Satisfied 8 16

About Average 2 4


Dissatisfied 1 2

total 50 100

Interpretation-

85

1.74% Respondent is strongly satisfied.

2.16% Respondent is satisfied with convenience.

3. 4% Respondent average satisfied .

6.Store hour for Purchase



Satisfied 25 50

About Average 10 20


Dissatisfied 0 0

total 50 100

86

Interpretation-1.50%Respondent is satisfied.

2.30% Respondent is strongly satisfied.

3.0% Respondent is dissatisfied.

7. Atmosphere and Décor Appealing



Satisfied 14 28

About Average 21 42


Dissatisfied 0 0

Total 50 100

87

Interpretation-1.42%Respondent average satisfied .

2.zero respondent is dissatisfied.

8. Display of mercandise-

Parameter No. of respondents Percentage


Satisfied 21 42

About Average 5 10


Dissatisfied 0 0

Total 50 100

88

Interpretation1. 42%Respondent are satisfied with display of merchandise.

2. 40% Respondent are strongly satisfied with display of merchandise.

3 No one dissatisfies with display of merchandise.

9. Advertised merchandised in stock


Yes 48 96

No 2 4

Total 50 100

89

Interpretation 1.96%Respondent say yes that advertised merchandised in stock.

10.Overall Customer satisfaction level

Parameter No. of respondents Percentage


Satisfied 25 50

About Average 6 12


Dissatisfied 2 4

Total 50 100

90

Interpretation1. 50%Respondent satisfied with organised retail shop.

2. Only 4% Respondent dissatisfied with organised retail shop.

91

FINDINGS

92

Finding

Profile of customer- from above data 23 respondent is male and 27 is female.

from above data majority of purchaser is 22-29 age group.

Most of people who Purchase from these organised retail shop were salaried

person (36%)

majority of person whose monthly income Rs.10000-20000 were purchase From

organised retail shop.

Preferences

frequency of purchase is mostly is once a month in most of cases due to shortage of

time.

People monthly purchase is maximum is Rs. 1000-1500.

mainly people purchase to organised retail shop due to influences of friend (42%)

advertisement is also affective tool which affect purchase decision

The preferred shopping time slot was evening 5pm -9pm .people shopping after

their office hours.

Mostly respondent purchase food product from organised retail chain

Mainly mode of payment is cash.

Factor-

Convenience is main factor which affect purchase decision.

Quality is also major factor which affect purchase decision.

Offer& scheme is less important factor.

93

Satisfaction level

Price were reported to be very satisfactory (40% )as majority (40%)have reported

very satisfactory.

42% respondent say that availability of product is satisfied

35%Respondent is dissatisfied with offer & scheme .

Most respondent strongly satisfied.

50%respondent response that store hour for purchase is satisfied.

96%respondent say yes that advertised merchandised in stock.

The mode of payment was by cash (82%)by the majority as the profile is that most

of them do not own a credit card .

50%Respondent satisfied with organised retail shop.

94

SUGGESTIONS & RECOMMENDATIONS

95

SUGGESTIONS & RECOMMENDATIONS

organised retail shop more purchase food items so retail shop pay more attention

towards food items .

offer & Scheme is very less so make offer & Scheme attractive.

Convenience is main factor which affect purchase decision so company main

focus on it.

Store hour is also important factor which affect purchase decision most people

purchase at time slot 5pm-9pm.

4% people not satisfied so organised retail shop take some action to satisfied

them.

More people payment through cash so cash payment system made more

effective.

96

LIMITATION

97

Limitations of the Study:- The study has been conducted only in Udaipur city..

Non-response by some of the respondent.

there was a certain degree of misinterpretation or mislead by the respondents

about the points raised in the questionnaire.

size of the sample is small.

98

APPENDIX

99

Questionnaire

An empirical study on consumer preferences while selecting organised retail Shop in udaipur city

Name -------------------------------------------------------------------------------------

1. Gender -

(a)male (b)Female

2. Age –

(a) 15-21year (b) 22-29 year (c) 30-44 year

(d) 44& above year

3. Occupation-

(a)student (b)self employed (c)salaried

(d)professional (e)other

4 .Monthly Income-

(a) below Rs.10000 (b) Rs.10000-20000 (c) Rs.20000-30000

(d) Rs.30000-40000 (e) Rs.40000&above

5.Frequency of purchase-

(a) Daily (b)Twice a week (c) More than twice a week

(d) More than twice a month (e) Once a month

6.Monthally How much you purchase-

(a) Below Rs 500 (b) Rs 500-1000 (c) Rs 1000-1500

(d) Rs 1500-2000 (e) More than Rs. 2000

7. Who influenced you for organised retail purchase-

(a) Friend (b) Impulse (c) Advertisement

100

(d) Promotions (e) Relative

8. At what time you mostly purchase-

(a) 9AM -1PM (b)1PM-5 PM

(c) 5PM-9AM (d)9PM-1 AM

9. Which Product have you purchase-

S.No Product name Rank (1 for best 6 for

least)

1. Electrical and electronics

2. Apparels

3. Food products

4. Toiletries

5. Grocery

6. Daily use product

10. Payment mode

(a) Cash (b)Credit card

11.The factor which affect your selecting retail outlet for purchase Rate them-S.No Factor Rank (1 for best 6

for least)1. Convenience2. Product quality3. Price 4 Product Availability 5 Service quality6 Offer & scheme

101

12 satisfaction level Rate them- (I for best ,5 for least)

S.No Factor 1 2 3 4 5

1. Price Level

2. Availability Of Product

3. Quality Of Product

4. Offer & Scheme

5. Convenience level

6. Store Hour For Purchase

7. Atmosphere And Décor Appealing

8 Attractive display of merchandise

13.Overall Customer Satisfaction

(a) Strongly satisfied (b) Satisfied

(c) About Average (d) Some what satisfied

(e) Dissatisfied

102

BIB LIOGRAPHY

WEBSITES: www.retailindia.com Indian journal of marketing Feb. 2008 Icfai journals university press sep 2006 www.retailsactor.com

103

http://www.retailsactor.com/

http://www.retailindia.com/

it’s all about mutual funds - · web viewproject study report on titled “ an...

Documents