CHAPTER 1 : INTRODUCTION 1.1: GENERAL INTRODUCTION Retailing consists of the sale of goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by post, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be individuals or businesses. In commerce, a "retailer" buys goods or products in large quantities from manufacturers or importers, either directly or through a wholesaler, and then sells smaller quantities to the end-user. Retail establishments are often called shops or stores. Retailers are at the end of the supply chain. Manufacturing marketers see the process of retailing as a necessary part of their overall distribution strategy. The term "retailer" is also applied where a service provider services the needs of a large number of individuals, such as a public utility, like electric power.
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Shops may be on residential streets, shopping streets with few or no houses or in a shopping mall. Shopping streets may be for pedestrians only. Sometimes a shopping street has a partial or full roof to protect customers from precipitation. Online retailing, a type of electronic commerce used for business-to-consumer (B2C) transactions and mail order, are forms of non-shop retailing. Shopping generally refers to the act of buying products. Sometimes this is done to obtain necessities such as food and clothing; sometimes it is done as a recreational activity. RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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Recreational shopping often involves. DOES CONSUMPTION CONSUMPTION??
DRIVE
RETAIL??
OR,
DOES
RETAIL
FORCE
The latter has perfect logic. The problem isn’t enough disposable income in this country. There are innumerable statistics to prove that there is. The problem really is that the disposable income isn’t being driven into modern retail as much as it should. Why is that? Perhaps we are not giving them compelling reasons to shop with. Perhaps our product innovation, or our retail experience, just lacks that extra something. Perhaps they don’t generate the mysterious “WOW!” emotion that all successful global retailers constantly aim at. As we enter 2009, retailers across the country speak about the vision of change for the year ahead. It is evident that customer retention is top of mind for every retailer, regardless of format or size. It is clear that only by innovating on practices and services offers will retailers in India be able to not just retain customers, but also expand the consumer base. Naturally, consumption needs to be pushed also for propelling manufacturing and overall economic prosperity of the country. Which in a macro environment, would result in higher disposable incomes and therefore, expenditures. Bear in mind, however that growth in disposable incomes may not transfer proportionately to domestic retailers. If our retailers from the smallest to the largest do not offer experiences and services that match consumer expectations, the disposable income will be spent elsewhere. As more an more Indians travel overseas, more and more outflows of foreign exchange can be expected. That is, unless we offer these consumers compelling reasons to walk into our stores. The trick is in continuous innovation. Innovation in product, in operations, in retail environment, in services, in everything.
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Retail is not only an important aspect of the economic structure but very much a part of our lives . Although trading of goods have been in existence since the olden days .It is only in the recent past that the buying and selling of goods have become more of format and a brand dominated activity .The traditional form of independently owned businesses co-exist along with the organized retail.
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Organized retail has emerged in a big way since 2000 onward and with that we are witnessing the emergence of new forms of retailing.
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1.2: INDUSTRY PROFILE
TYPES OF RETAIL FORMAT
Convenience store
Chain of stores
Franchise
Speciality store
Departmental store
Supermarket
Hypermarket
Shopping mall
Shopping plaza
Factory outlet
CONVENIENCE STORE Ideally located close to residential areas to enable target customers have easy accessibility and select convenient merchandise such as beverages ,ready to eat snacks , grocery etc. EX;- Friendly neighbour hood grocery stores CHAIN OF STORES A single retailer establishes a chain of stores with its exclusive store design, synergistic RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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merchandising plan, promotion and service strategy and so on. EX;- Raymond chain
FRANCHISE Retail stores owned and operated by individual on behalf of and licensed by a big supporting organization. EX;- Pizza hut, NIIT, Mc Donald s
SPECIALITY STORE Retail shops displaying merchandise which have narrow product lines specializing in a particular type of merchandise and offering specialized services to customers. EX;-Park Avenue (By Raymond ,it is a men speciality store)
DEPARTMENTAL STORE A store having several departments such as clothing, personal care & cosmetics, books and stationaries, house ware goods, electronics etc .All under a single roof, although individually functioning as a strategic business unit (SBU). EX;-Life style , Pantaloon SUPERMARKET A store which is departmentalized, with self service offering groceries, limited non-food items such as health & beauty related items & general merchandise. RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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EX;- Food world outlets , Nilgiris
HYPERMARKET Hypermarket are very large in size, carry grocery , hardware ,appliances and other general merchandise , with self service facilities usually located in warehouse type structure with large parking facilities. EX;- Big bazaar (Pantaloon Retail India)
SHOPPING MALL A shopping mall is an arrangement of retail stores and providing the right mix of shopping, food courts & entertainment & parking facilities. EX;-In Bangalore The Forum , Central ,Sigma mall
SHOPPING PLAZA The shopping plaza wil be a configuration of many tenants using space of 1000 sq. ft as so far putting up stores within a single building. EX;-Fountain Plaza FACTORY OUTLETS Factory outlets or stores are owned and operated by the manufacturers who sell discounted merchandise or factory seconds or cancelled orders to consumer at low price.
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EX;- Bata factory outlet
a: Origin and development of the industry
Retail is India's largest industry. It accounts for over 10 per cent of the India's GDP and around eight per cent of the employment. Retail sector is one of India's fastest growing sectors with a 5 per cent compounded annual growth rate. India's huge middle class base and its untapped retail industry are key attractions for global retail giants planning to enter newer markets. Driven by changing lifestyles, strong income growth and favorable demographic patterns, Indian retail is expected to grow 25 per cent annually. It is expected that retail in India could be worth US$ 175-200 billion by 2016. The organized retail industry in India had not evolved till the early 1990s. Until then, the industry was dominated by the un-organized sector. It was a sellers market, with a limited number of brands, and little choice available to customers. Lack of trained manpower, tax laws and government regulations all discouraged the growth of organized retailing in India during that period. Lack of consumer awareness and restrictions over entry of foreign players into the sector also contributed to the delay in the growth of organized retailing. Foundation for organized retail in India was laid by Kishore Biyani of Pantaloon Retails India Limited (PRIL). Following Pantaloon's successful venture a host of Indian business giants such as Reliance, Bharti, Birla and others are now entering into retail sector. Retailing is the most active and attractive sector of last decade. While the retailing industry itself has been present since ages in our country, it is only the recent past that it has witnessed so much dynamism. The emergence of retailing in India has more to do with the increased purchasing power of buyers, especially post-liberalization, increase in product variety, and increase in economies of scale, with the aid of modern supply and distributions solution.Indian retailing today is at an interesting crossroads. RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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The retail sales are at the highest point in history and new technologies are improving retail productivity. though there are many opportunities to start a new retail business, retailers are facing numerous challenges. A number of factors are driving India's retail market. These include: increase in the young working population, hefty pay-packets, nuclear families in urban areas, increasing working-women population, increase in disposable income and customer aspiration, increase in expenditure for luxury items, and low share of organized retailing. India's retail boom is manifested in sprawling shopping centers, multiplexmalls and huge complexes that offer shopping, entertainment and food all under one roof.
But there is a flip side to the boom in the retail sector. It is feared that the entry of global business giants into organized retail would make redundant the neighbourhood kiryana stores resulting in dislocation in traditional economic structure. Also, the growth path for organized retail in India is not hurdle free. The taxation system still favours small retail business. With the intrinsic complexities of retailing such as rapid price changes, constant threat of product obsolescence and low margins there is always a threat that the venture may turn out to be a loss making one.
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b. Growth & Present status of the industry. Retailing is emerging as a sunrise industry in India and is presently the largest employer after agriculture. In the year 2004, the size of Indian organized retail industry was Rs 28,000 Crore, which was only 3% of the total retailing market. Retailing in its present form started in the latter half of 20th Century in USA and Europe and today constitutes 20% of US GDP. It is the 3rd largest employer segment in USA. Organized retailing in India is projected to grow at the rate of 25%-30% p.a. and is estimated to reach an astounding Rs 1,00,000 Crore by 2010. The contribution of organized retail is expected to rise from 3% to 9% by the end of the decade. The projection for the current year ie 2005 is Rs 35,000 Crore.
In India it has been found out that the top 6 cities contribute for 66% of total organized retailing. With the metros already been exploited, the focus has now been shifted towards the tier-II cities**. The 'retail boom', 85% of which has so far been concentrated in the metros is beginning to percolate down to these smaller cities and towns. The contribution of these tier-II cities to total organized retailing sales is expected to grow to 20-25%. In the year 2004, Rs 28,000 Crore organized retail industry had Clothing, Textiles & fashion accessories as the highest contributor (39%), where as health & beauty had a contribution of 2%. Food & Grocery contributed to 18% whereas Pharma had a contribution of 2%.
Globally, the retail industry has grown at a brisk pace with a Compounded Annual Growth Rate (CAGR) of 7.77% during the period 2001-2006. The growing expanse of the top global retailers has ensured globalization of the industry; however the opportunity for growth of organized retail is immense in countries such as India, S. Korea, and Vietnam etc. where organized retailing is still at an ascent stage.
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The Indian retail industry has witnessed a massive transition during the last few decades. The Indian retail has grown at a CAGR of 11.2% during the period FY04-FY07, with food and grocery accounting for the major share. Despite the industry being dominated by the unorganized retailers, the organised retailing revenues have soared at a CAGR of 19.5% during the period FY04-FY07. The apparel & footwear segment occupies the major share in the organised retail pie. The Indian retail industry has strong linkages with the economic growth and Development of the economy. It is primarily characterized by its hierarchical growth structure, high working capital requirements etc. The factors such as rising urbanization, growing consumer class, growing per capita expenditure, greater interest evinced by the Venture capitalists / Private equity firms in the industry etc. have been driving the growth of organised retail. The growth of modern retailing has led to the emergence of varied formats such as Departmental stores, Supermarkets etc. In addition, few other formats such as rural retailing, E-retailing, luxury retailing etc. too have found favours with the Indian retailers. Each format being distinct from the other, the viability of their operations depends upon various factors such as average footfalls, sales per sq.ft etc. However the numerous licensing requirements as compared to other countries have proved to be a bottleneck in the growth of Indian retailing. We have identified further requirements, advantages and disadvantages associated with the organised as well as unorganised retailing in India. On the basis of a detailed analysis incorporating the experience of other retailing locations across the globe, We feel that the co-existence of the organised and unorganized retailing in the Indian context cannot be denied. To estimate the size of the Indian retail industry and the penetration levels of organized retail in the urban and rural Indian markets for the period FY08-FY11, we have evolved an industry model incorporating three different scenarios i.e. RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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Optimistic , Most Likely & Pessimistic. We expect that with the growing reach of modern retailers in the rural and urban areas, the penetration level of organized retailing would continue to grow, thereby resulting in the organised retail growth, surpassing the growth of total Indian retail during the period FY08-FY11. Companies Mentioned: * Pantaloon Retail India Ltd. (PRIL) * Shoppers Stop Ltd. * Vishal Retail Ltd (VRL) * Koutons Retail India Ltd. * Trent Ltd. The Indian retail though largely dominated by the unorganized retailers has witnessed a massive transition in the last decade. Of the total retail sales, the food & grocery segment constitutes the major chunk. However in case of organised retail, the apparel & footwear segment stands as the major contributor. With varied segments of retailing i.e. Food & Grocery, Clothing & Footwear, Furniture & Furnishing, Jewellery, Beverages .
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c. Future Of The Industry India retail industry is the largest industry in India, with an employment of around 8% and contributing to over 10% of the country's GDP. Retail industry in India is expected to rise 25% yearly being driven by strong income growth, changing lifestyles, and favorable demographic patterns. It is expected that by 2016 modern retail industry in India will be worth US$ 175- 200 billion. India retail industry is one of the fastest growing industries with revenue expected in 2007 to amount US$ 320 billion and is increasing at a rate of 5% yearly. A further increase of 7-8% is expected in the industry of retail in India by growth in consumerism in urban areas, rising incomes, and a steep rise in rural consumption. It has further been predicted that the retailing industry in India will amount to US$ 21.5 billion by 2010 from the current size of US$ 7.5 billion. Shopping in India has witnessed a revolution with the change in the consumer buying behavior and the whole format of shopping also altering. Industry of retail in India which has become modern can be seen from the fact that there are multi- stored malls, huge shopping centers, and sprawling complexes which offer food, shopping, and entertainment all under the same roof. India retail industry is expanding itself most aggressively; as a result a great demand for real estate is being created. Indian retailers preferred means of expansion is to expand to other regions and to increase the number of their outlets in a city. It is expected that by 2010, India may have 600 new shopping centers. In the Indian retailing industry, food is the most dominating sector and is growing at a rate of 9% annually. The branded food industry is trying to enter the India retail industry and convert Indian consumers to branded food. Since at present 60% of the Indian grocery basket consists of non- branded items. RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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India retail industry is progressing well and for this to continue retailers as well as the Indian government will have to make a combined effort.The slowdown in consumer spending cut many retail stocks in half in 2008, but retailers have seen a surprising rally recently. Many of the worst-performing stocks of 2008 — apparel chains, department stores and Internet retail firms — have done best in the last several weeks. For stock pickers , retail poses a dilemma: Based on recent data, there’s no simple way to tell where consumer spending is headed. So, with the current outlook so uncertain, one possible strategy for retail investors is to begin thinking very long term. Major changes that could hit the retail industry between now and 2015.The aging of the Baby Boom generation and coming of age of Generation Y will cause a change in consumer demand and spending habits, the report says. Retail stores that are able to adapt to the new consumer demographics will thrive while those unable to adjust will fail. To survive in the next decade, retailers must adapt to a number of changing factors:1. The new generation of consumers contains a more tech-savvy and more diverse group that holds different values than its parents. 2. The one-size-fits-all approach of the mass chain store format will not be viable. Stores able to respond to individual tastes will become dominant. 3. “The belief that bigger is better will break down—aggregation of small will be the new big,” says the report. The new consumer will be more intent on quality than quantity. Mass production models will not succeed. 4. Ability to keep close contact with customers through mobile devices will be important to maintain quality of service and product as well as receive customer feedback.5. The still large group of Baby Boomers will remain active in the economy. However, their demands will shift from goods to service and healthcare. 6. Retailers may also expand in developing economies such as India and China. These growing markets have much more room to expand along traditional modes than developed nations. However, American companies will be “late to the game,” says the report, and will need to compete with both European and local retailers. RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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Fast and quality service and the ability to attune to individual tastes will be vital. Retailers must completely alter their business models. Retailing will become an industry that realizes, more and more, that it must tailor its offerings to select customers, as opposed to the mass appeal approach of the 1980s, in order to win over customers and foster greater customer loyalty. That means reacting more quickly to consumer trends. Realizing a trend as it happens will be too late, the report argues.
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CHAPTER 2 : PROFILE OF THE ORGANISATION.
2.1 : ORIGIN OF THE ORGANISATION.
The year 2007, for organised retail has begun with a bang. Birlas, who were mulling over their entry in multi format multi brand retail for quite some time, have finally arrived. The Rs. 40,000 crore, Aditya Birla group, through unlisted Aditya Birla Retail, in a single stroke, has acquired a bouquet of over 172 retail stores, operating in southern India, with predominant presence in Andhra Pradesh, under popular brand names of Trinethra and Fabmall. While most of the group stores operate under Trinethra brand, stores located in Karnataka and Kerala operate under Fabmall brand, although, 50,000 sq. ft. big hypermarket in Mysore is known as Fabcity. Trinethra, prior to this acquisition, was aggressively pursuing its plan to set up new stores in tier II cities such as Mysore, Coimbatore and Tirupur in southern region of the country. Trinethra, which has adopted convenience and supermarket formats, is focused on selling food and groceries in residential areas, although some of the stores also offer pharmaceutical products. Trinethra also offers value-added services like forex remittances and bill payments. A typical Trinethra store ad measures around 2,500 sq.ft. in retail space. The chain of stores are serviced by an infrastructure of central warehouses in Andhra, Karnataka, Tamilnadu and Kerala, with a space of about 50,000 sq ft each Aditya Birla Retail Limited re-brands its Fabmall grocery supermarkets to more., a name reflective of its commitment to offering consumers a more fulfilling retail experience. The re-branding follows the acquisition of the Trinethra Super Retail that includes the retail brands Fabmall, Trinethra and FabCity by Aditya Birla Retail in January 2007. RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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The two decades old, Rs. 250 crore, 2,500 employees strong, Hyderabad based, Trinethra group, originally was founded by Mr Anjaneyulu Kakkera. Aditya Birla Retail Limited is the retail arm of Aditya Birla Group, a USD 28 billion Corporation. The Company ventured into food and grocery retail sector in 2007 with the acquisition of a south based supermarket chain. Subsequently Aditya Birla Retail Ltd. expanded its presence across the country under the brand "more." with 2 formats Supermarket & Hypermarket. Supermarket more. for you - Conveniently located in neighbourhoods, more. supermarkets cater to the daily, weekly and monthly shopping needs of consumers. The product offerings include a wide range of fresh fruits & vegetables, groceries, personal care, home care, general merchandise & a basic range of apparels. Currently, there are over 600 more. supermarkets across the country. Hypermarket More .MEGASTORE - is a one-stop shopping destination for the entire family. Besides a large range of products across fruits & vegetables, groceries, FMCG products, more.MEGASTORE also has a strong emphasis on general merchandise, apparels & CDIT.
Currently, two hypermarkets operate under the brand more.MEGASTORE in Mysore and Vadodara.
Own label Food Brands more., Feasters, Kitchen's Promise, and Best of India Home & Personal care brands more., Enriche, 110%, Pestex, Paradise, and Germex RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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With a vision is to be among the leading retail players in India, Aditya Birla Retail launched its first supermarket, more. for you in May, 2007. Since its launch, the more. for you has an aggressive roll out, reaching a total count of over 600 stores across India today. more. for you is your neighborhood supermarket which takes care of your everyday household needs and more. Spread across a wide range of products of food and non food items, ranging from basic necessities such as, fruits and vegetables, staples, personal care, home care, household care products, general merchandise, and dairy products, more. for you provide a one stop solution for your grocery shopping needs. Also in store are essentials such as, innerwear, kids essentials, and a pharmacy, bakery and a mobile store. With a range of over 4,000 products, we are able to fulfill your daily shopping needs all under one roof, at a convenient location close to you.
The more. for you promises a world class shopping experience, with a modern store layout, easy to shop with friendly staff at hand to provide assistance, electronic billing facilities and a colorful ambience. At more. for you we offer branded food and grocery products sourced from the leading brands from all over India, along with private label brands from our own portfolio - available in a broad selection for you, always giving you the best possible value for your money.
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2.2 :GROWTH AND DEVELOPMENT OF ORGANISATION .With the opening of first store in Pune and announcing its retail plans, the Aditya Birla Group has finally joined the crowded retail space. And from the voices in the media, its not far when the group has a pan-India retail presence. Organised retailing is just 3% of total retail market but still a debatable point whether the Birlas are an early or a late entrant. Since Pantaloons, Spencers, Subhiksha and Reliance have already set up a good base, ‘More’ stores may find hard to invade the territory which these stores have already captured in their respective locations. But even then, key factors which may influence the buying pattern of consumers hinge on convenience in terms of distance from home, pricing and giving the right productmix catering to different social and economic class. Since, organised retail has thin margins and high costs of around 15% to the revenues (as compared to 5-6% of local grocery stores), retail companies should promote more their in-house brands which have a higher mark up. Aditya Birla ‘More’ strategy to offer budget and high value private labels under ‘More for you’ and ‘Select’ seems to be like successful UK’s Tesco model of having separate labels with separate quality and prices for the same product category. Till Bharti- Walmart enters the market, the key competitor for ‘More’ shall be Reliance Retail as they have similar store formats and product offerings. But the real tough part will be when these two companies launch their hypermarkets, in which Pantaloon’s Big Bazaar still rules the space in terms of nationwide presence , and then differentiation would play a key role. But like telecom, when the markets get mature, there are not many differentiating factors in terms of pricing and service quality, similarly once few big players get established in retail market, each one would carve a separate niche of their own with their own sets of customers and markets. RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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2.3 : PRESENT STATUS OF THE ORGANISATION
ADITYA BIRLA RETAIL LTD is having 650 MORE store all over INDIA . Pune was the first place where first store was opened.350 stores are in SOUTH and 300 are in REST OF INDIA. Karnataka is having 104 stores in which BANGALORE is having 64 stores. .more. for you is committed to deliver quality & value to our customers and have a range of private label brands as well as commercially branded products, offering 100% satisfaction on the quality of the products & services offered. more. for you hosts a range of private label brands across various categories that follow stringent quality norms, and are available in attractive prices and packaging. Our premium products give you the opportunity to enjoy the difference and quality that is equal to or better than the market's leading brands, but at competitive prices. Recently our private label brands received the coveted "The Most Admired Private Label" Golden Spoon award at the Food Forum India. more. for you offer a wide range of assortment of over 4000 products, ranging from fresh food to beverages, grocery to household care products. There range covers everything, from day-to-day essentials to traditional favorites, from delicious treats, to healthy alternatives. To ensure the freshest supply of fruits and vegetables for you, they have built direct linkages with the farmers for daily supplies of farm fresh produce.
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Our stores are built with a modern and comfortable ambience, air conditioned and with speedy automated cashiering to help you shop better. They also have friendly in-store policies on exchange and returns that help you shop with ease and comfort. Furthermore, to make shopping experience more rewarding with them, at more. for you they offer a membership program Clubmore. which reinforces our commitment to consistently add value to your shopping experience, and also to thank you for choosing to be a part of more. for you. As a Clubmore. member, you are entitled to special benefits, besides the regular offers and promotions at more. for you. Clubmore. members will also have the benefit of receiving exclusive SMS alerts for special offers on our products and services. Currently Clubmore. has over 1 million members enrolled for its loyalty program.
FUTURE PLANS OF THE ORGANISATION
After acquiring south based Trinethra and plans to buy Pyramid Retail, the Aditya Birla group doesn’t want itself to be left behind in the race for getting their pie in the organised retail market. Instead of tying with Tesco, Carrefour, Woolworth, they have decided to go all alone. They plan to open 172 hypermarkets and supermarkets starting from Pune. While Subhiksha is mainly into neighbourhood stores, Future Group has a strategy of having single brand outlets to multi-brand seamless malls, similarly Reliance Retail has started with Fresh stores and Reliance Digital to be followed by opening up of hypermarkets and specialised stores. Birla’s business style is perceived to be a little conservative, and they are investing Rs. 9,000 crores in this venture which will enable it to establish a pan-India footprint. The retail venture would be aided by the group’s companies like Madura Garments (a key component of retail sales), IDEA cellular (for technical and communication RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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requirements of stores), financial services (for providing consumer loans on its goods).
Organised retail sector’s growth is expected to be rapid, thus making it a valid and natural choice for AVB group to diversify in this sector. But, competition and late entry may somewhat derail the company’s retail growth rate to the overall industry rate. The sector may also face hurdles as owing to non-clarity of FDI in retail, foreign chains have postponed their plans of entry into India.
"Our Mission is to Change the Way People Shop. We Will Give Them More."
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2.4 : FUNCTIONAL DEPARTMENT OF THE ORGANISATION o HR AND TRAINING o PROJECT AND BUSINESS DEVELOPMENT o COMMERCIAL AND ACCOUNTS o ADMINISTRATION o IT o LEGAL o LOSS PREVENTION AND RISK MANAGEMENT o MARKETING o SUPPLY CHAIN
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2.5: Organizational Structure & Organizational Chart ORGANIZATIONAL STRUCTURE :•
CHAIRMAN
•
CEO
•
SUPERMARKET
•
HYPERMARKET
•
4 REGIONAL HEADS
•
2 ZONAL HEADS
•
2 TERRITORY MANAGERS
•
10 CLUSTOR MANAGERS
•
STORE MANAGERS
•
SUPERVISOR
•
ASSISTANT SUPERVISOR
•
CSA
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ORGANIZATIONAL CHART
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2.6 : Product & Service profile of the organization. At more. for you we are committed to deliver quality & value to our customers and have a range of private label brands as well as commercially branded products, offering - 100% satisfaction on the quality of the products & services offered. more. for you hosts a range of private label brands across various categories that follow stringent quality norms, and are available in attractive prices and packaging. Our premium products give you the opportunity to enjoy the difference and quality that is equal to or better than the market's leading brands, but at competitive prices. Recently our private label brands received the coveted "The Most Admired Private Label" Golden Spoon award at the Food Forum India. We offer a wide range of assortment of over 4000 products, ranging from fresh food to beverages, grocery to household care products. Our range covers everything, from day-to-day essentials to traditional favorites, from delicious treats, to healthy alternatives. To ensure the freshest supply of fruits and vegetables for you, we have built direct linkage with the farmers. MORE provide some private labels also, RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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Own label Food Brands o
more.,
o Feasters. o Kitchen's Promise o and Best of India
Following is the range of products offered by MORE stores to its customers. There are various products and services offered by MORE supermarket and hypermarket. SUPERMARKET
Bakery *
Home Needs & Home Upkeep
Beauty Concepts *
Home Decor Products
Beverages
Mobile Store *
Basic Apparels
Personal Care & Cosmetics
Cutlery & Cookware
Processed Food
Fruits & Vegetables
Pharmacy *
Frozen & Dairy Products
Ready to Cook/Prepared
Food
FMCG Products
Small White Appliances *
Grocery
Staples
General Merchandise
Stationery
Home Care Products
Women's Accessories
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HYPERMARKET Apparels - Men/ Women
Infant & Children's Apparels
Audio & Video (A & V)
Information Technology Products
Bakery
Large White Appliances
Beverages
Luggage
Books and Audio & Video
Mobile Phone & Accessories
Computer & Accessories
Personal Care & Cosmetics
Do it yourself
Processed Food
Auto Accessories
Ready to Cook/Prepared Food
Electronics
Small White Appliances
FMCG Products
Sporting Goods
Footwear
Staples
Frozen & Dairy Products
Stationery
Fruits & Vegetables
Sun Glasses & Fine Jewellery
Furniture
Two Wheelers
General Merchandise
Toys
Home Care Products Home Decor Products Home Needs & Home Upkeep
Services For your additional benefit, Consumer Finance on electronics products such as: Audio & Video and Large White Appliance are available at more.MEGASTORE
Friendly Return & Exchange Policy. Hassle free Return & Exchange policy at more MEGASTORE. In case you change your mind, we at more. MEGASTORE would be pleased to exchange the same for you - no questions asked, as long as it is in its original packaging and accompanied by its invoice. RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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In case, an exchange is not required, you will be issued a gift card equal to the billed value, which can be utilized within the store as per your convenience. Pick the perfect gift with - more. MEGASTORE Gift Card smart, practical, and truly appreciated. Our gift cards are always the perfect gift which can be used at the more MEGASTORE by the recipient to purchase any gift of his/her choice any time. Our Gift Cards easily available at the Customer Support Help Desk located at more. MEGASTORE
2.7 : Market Profile of the organization. Birla group instead of setting up its own retail outlets apart from their own Madhura garment outlets, are trying to enter into the retail business by acquiring already established retail chains. The company is mainly concentrating to establish its foot in Southern India than competing with others in most affluent metro and northern regions. To start with Birla group acquired Trinethra Super Retail chain that mainly operated in Andhra Pradesh with some presence in Kerala and Karnataka. Trinethra started retail business much before anyone could imagine the growth of the sector as it is today. Trinethra started in way back 1986 in the twin cities of Hyderabad-Secunderabad had revenues of Rs 250 crores from its 172 stores which are mostly the size of Reliance Fresh groceries stores [2,500 sft - 3,000 sft]. Apart from its grocery retail chain, Trinethra has also brought online shopping portal Fabmall to the fold of AV Birla group. Birla’s acquiring march does not stop here. The company is planning to acquire Piramid Retail and Niligiris. The latter will give Birla Retail, pan south-India presence. They are also planning to open 172 hypermarkets and supermarkets starting from Pune. RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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Apart from operating two hypermarket stores under the umbrella brand name of “More.. for you” at Mysore and Vadodara, the retail arm of the group operates around 670 supermaket format, neighbourhood food, grocery, and general merchandise, stores across the country. These stores include the erstwhile stores of Trinethra retail chain, which after the acquisition were also rechristened as ‘More’ stores.
More, under the stewardship of its new CEO Thomas Varghese, an old Birla hand, who was roped in after the Sumant Sinha, has taken several initiatives to revamp the operations of the loss making chain. Some of the initiatives include: Close some of the non performing stores. Take a re-look at the design, positioning and merchandise offered by the retail chain. Focus more on large sized stores. The retailer will set up hypermarts of 30,000 to 40,000 sq. ft. spce each. Aggressively expanding the retail network;
add 200
Supermarket
stores
and
12
Hypermart
stores
in
2009-
10.Renegotiation of property rentals for almost all leased properties with their landlords. The rents in some cases have come down by 30 to 40 percent. Introduction of private labels, mostly in fast moving consumer products category, to increase share of private labels to 40 per cent in the next 4 to 5 years.
Look for earning rent from ’shop-in-shop’ opportunities. Recently, ‘Dial for Health’ wellness retail chain owned by Zydus group has inked an agreement to set up such outlets in Gujarat and Maharashtra.
Look for a financial partner. “We are not looking at a strategic partner. We will be happy to have a financial partner. We have received lots of preliminary interest from investors. We would be open to this idea,” said Kumar Mangalam Birla. Some private equity firms like Warburg Pincus are believed to have shown interest equity stake in the company. Aditya Birla group, incidentally, also operates 340 apparel stores across the country of RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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brands like Louis Phillippe, Van Heusen, Allen Solly and Esprit in the lifestyle and value fashion segments. These stores are operated by Madura Garments Lifestyle & Retail and Peter England Fashions & Retail, which are part the group’s flagship company Aditya Birla Nuvo. The garments business, which clocked Q4 turnover of 273.3 crore (2008-09) and a nett loss of Rs. 82.2 crore during the quarter, has also embarked on several measures to stem the rot, including closure of 30 stores that will save around Rs 100 crore a year.
CHAPTER 3: DISCUSSION ON TRAINING.
3.1 : STUDENTS WORK PROFILE (ROLE & RESPONSIBLITIES)
•
Ensure self and staff grooming.
•
Smooth store operations.
•
Store presentation including house keeping and security.
•
Customer service and complaint handling.
•
Generating day end reports and MIS reports.
•
Briefing staff about daily do’s and don’t’s and target achievement.
•
Coordination for stocks and global count.
•
Training of cashiers and associates.
•
Allocation of resources (staff) in a shift. RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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•
Tender reconciliation at the end of day.
•
Increase sales revenue through promotions, mark downs, loyalty program.
•
Managing of cash pick ups.
•
Achieve and exceed sales target.
3.2 : DESCRIPTION OF LIVE EXPERIENCE
•
It is better opportunity to work under such prestigious organization because it is helpful for me to learn new things regarding Industry, Market, organization and culture.
•
It is the best way to know many things like Meeting Different types of customers and handling their queries and problems.
•
Handling the store with less staff sometimes.
•
Maintaining petty cash and MIS reports.
•
Making store more attractive and giving a good experience to customers for shopping.
•
Retaining the customers.
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•
Learning different things like how to coordinate with team members and management.
•
Learning many things regarding planning and implementation.
•
Learning how to maintain balance in personal and professional life.
•
Learning about competitor’s strategies.
•
Learning how to communicate with dealers and customers.
•
Making proper indent of F & V and DSP vendors so that no excess or less stock is there which will result in loss.
•
Disaster management.
•
Providing better service to the management as well as customers.
•
Creating brand awareness between the customers specially about private labels.
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CHAPTER 4: STUDY OF SELECTED PROBLEM
4.1 : STATEMENT OF RESEARCH PROBLEM The size of the retail industry for the consumers is indeed large. The market for food and non food items is large , As this is the only industry which ensure a promising growth even at the time of recession . There is scope for increasing MORE’s presence and the reasons for the dismal performance will be looked into. Once the selection and definition of the problem have been accomplished, the derivation of the hypothesis is the most important step in the research process. The hypothesis is a powerful tool in research process to achieve dependable knowledge. It helps the researcher to relate theory to observation and observation to theory. The null hypothesis of the present study is," The MORE stores are not able to control their shrinkage especially in Bangalore market "
4.2 : Statement of research objectives RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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The use of research is reasonably widespread. The implications may be listed as follows: •
To ascertain the position of a store in the region.
•
To provides a birds eye-view of the retail industry as a whole.
•
Comparison of shrinkage reports of more stores
A statement of research objective should describe what would be achieved by carrying out the research. These objectives should meet the business requirements covered in the analysis stage. It is important to distinguish between the information needed to meet the objective and the objective itself. The objective is a statement of an intention to provide data relevant to a marketing problem, but in itself it does not indicate what the research must find out. The research project is constrained by time, and it is but natural that some compromises will have to be made in the depth and breadth of the information we propose to cover.
4.3 : RESEARCH DESIGN AND METHODOLOGY RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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Research And Decision Making: Research is the process of collection, analysis and interpretation of information. Decision-making is an important aspect of retail management. While some of the decisions have short-term consequences, others affect the long-term prospects of the business. Whatever the nature of decisions taken, a common thread is the need for information. In carrying out analysis, planning, implementation, and control. STORE MANAGERS need information at almost every time. They need information about customers, competitors, dealers, there own performance ,the prons and cons of there stores ,the opportunities and other forces in the market place. This is where research has a great role to play. Research specifies the information needed to address various issues, designs the method for collecting information, manages and implements the data-collection process, analyzes the results, and communicates the findings and their implications. Some common decision areas where research can help are as follows: Questionnaire Is Prepared According To That. Opportunities: WHAT QUANTITY OF PRODUCT SHOULD BE KEPT? HOW MUCH SHOULD WE INDENT?
Evaluation: CAN WE INCREASE THE SALES? CAN WE PROPERLY HANDLE VARIOUS PRODUCTS?
Problem Solving: HOW CAN WE REDUCE THE WASTAGE? RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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HOW CAN WE INCREASE THE SALES?
Description of Research Design: Fundamental to the success of any formal marketing research project is sound research design. A good research design has the following characteristic viz., problem definition, specific methods of data collection and analysis of , time required for research project and the estimate of expenses to be incurred. A research design is purely and simply the frame work or plan for a study that guides the collection and analysis of data. It is a blue print that is followed in completing a study. •
The study must be relevant to the problem.
•
The study must employ economical procedures.
Three important points about research design are: The design of investigation should stem from the problem. Whether the designs are productive in a given problem setting depends on how imaginatively they are applied. An understanding of the basic design is needed so that they can be modified to suit specific purpose.
A RESEARCH PLAN
The another step of the marketing research process calls for determining the information needed, and developing a plan for gathering it efficiently. The elements of a research plan are as follows:
Analysis of the requirement for research: RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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•
Give some context - the business's involvement in the subject of the research.
•
Briefly describe any past events that led unto the present situation.
•
State what the present situation is and how this fits in with wider business
goals. •
Outline business options that are available.
The purpose of this research is to delve deep into the problems in the Marketing..
Stating the research objective A statement of research objective should describe what would be achieved by carrying out the research. These objectives should meet the business requirements covered in the analysis stage. Our research objective is to study the shrinkage reports of more stores.
Information Needed To Meet The Objective It is important to distinguish between the information needed to meet the objective and the objective itself. The objective is a statement of an intention to provide data relevant to a marketing problem, but in itself it does not indicate what the research must find out. The research project is constrained by both time and costs, and it is but natural that some compromises will have to be made in the depth and breadth of the information we propose to cover.
Research Methods RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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This element of the plan describes how the work will be carried out. The sources of research information are conveniently classified as either primary or secondary. An understanding of what can be obtained through desk research, how to plan fieldwork, the role of questionnaires and how to use them in interviewing is all needed in before research methods of a plan can be written.
Face-to-face interviews Considerable time is spent on traveling. If the respondents are scattered it may prove too costly. If the respondents are geographically concentrated and easily accessible, then this type of interviewing is beneficial. In this study the interviewing was face to face at the respondent's work place.
Selection of Appropriate Fieldwork Method: We now consider when and why to use one fieldwork method rather than another. A number of factors are relevant and in a study it may be necessary to make a compromise to resolve conflicting requirements. 1.
Information:
Nature of information to be sought is the most important factor to be considered. Quantitative data usually requires the collection of standardized data from a reliable and representative sample. Either face to face or telephonic interviews can be considered. Attitude measurement using scales is a type of quantitative data, often based on a large number of interviews.
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For collecting qualitative data, in-depth interviews or group discussions are advisable. However it is worth considering other methods of data. Collection, especially when both qualitative and quantitative data are to be collected from the same respondent. For qualitative data, open-ended questions are a comfortable alternative. 2.
Respondents:
The nature and location of respondents may affect selection of the fieldwork method. For respondent group with low level of literacy, postal surveys cannot be used. Street interviewing is not advisable for elderly or working class people. 3.
Interviewing Requirements:
Special requirements may favor or rule out a particular field work approach. Likewise when a product has to be shown or tested, then a hall is required unless a home placement is more appropriate. 4.
Resources:
This is concerned with practical constraints and they may result in compromises on either method or fieldwork used or on sampling procedure. The ideal research method may not be feasible owing to the affordability criterion.
CHOOSING THE RESPONDENT In case of business research, who should be interviewed has to be given much RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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thought. The respondents must be in a position to give factual data to arrive at the prevailing market situations. The respondents must have first hand knowledge of the sanitary ware markets and the present scenario.
QUESTIONNAIRE DESIGN Preparing questionnaires or observational forms is one significant step in research that may be done properly by watching for the many pitfalls and following an orderly procedure. The neophyte in this work should be warned, though, that no questionnaire has been perfect and that an adequate one requires painstaking effort.
Types of Questions A.
CLOSED-END QUESTIONS
Name Description A question offering two answer choices Multiple choice:- A question offering three or more answer choices.
B.
OPEN- END QUESTIONS
Name Description Completely Unstructured A question that a respondent can answer in an almost unlimited number of ways. Sentence completion Incomplete sentences are presented and the RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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Respondents are asked to complete it.
GENERAL PRINCIPLES OF QUESTIONNAIRE DESIGN:
1.
Keeping the objectives in mind
Every survey has a purpose, which is defined on paper, and the objectives spelt out. The first step in questionnaire design is, therefore, to write down the objectives of the survey and then list the key subject areas where information is required. Then assign an order of priority to each subject.
2.
Drafting the Questions
Ask the following questions Will the question be understood in the way that I intended? How many different ways could this question be interpreted? Is this question likely to annoy or offend? Is there a better way of asking the questions?
3.
Pitfalls to avoid in the designing of Questionnaire RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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Avoid lengthy questionnaires. Make it short and sweet. Nobody likes a time consuming endeavor and the responses may suffer. Avoid long or complicated questions. Make the language simple and easy to understand. Incorporate only one idea or instruction per questionnaire. Avoid unreasonable questions. The respondent should not be forced into guesswork. Avoid 'loaded' questions. Loaded questions are biased and may elicit inaccurate responses.
4.
Fine tuning the questionnaire
Once the draft copy is prepared, revise it for corrections keeping in mind the features of a good questionnaire and by steering clear of the pitfalls in questionnaire design. The order of questions is adjusted to enhance the flow and ambiguous questions are removed. A test or dummy run of the questionnaire is advisable and it can be timed to arrive at the average time required to finish the questionnaire. Fine-tuning of the questionnaire will flush out the weaknesses in the questionnaire in terms of the meaning of questions or length of questionnaire or its flow.
DESCRIPTION OF RESEARCH DESIGN OF THIS STUDY The research design is the major blue print according to which the result is to be conducted. The research design specifies the methods of data collection and data RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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analysis. In the preliminary phase exploratory research was conducted to obtain a proper definition of the problem at hand. It helped in formulating the hypothesis for further research. The study also makes use of descriptive research in order to analyze the problem and come up with solutions. Sources of data included both internal as well as external. Primary data was collected using questionnaires and by fixing interview schedules at the respondent's work place. Secondary data was collected from magazines, journals, textbooks, newspapers, Internet web sites etc.
METHODOLOGICAL ASSUMPTIONS AND LIMITATIONS ASSUMPTIONS Data was collected from the customers by using both the questionnaire method and the observation method LIMITATIONS Due to time and constraints the sample size is limited and probably not enough. Due to the large market and dispersed market players, the attention devoted to each player may not be sufficient. The data gathered may be biased in favor of the respondents. The data is mainly collected from dealers . dealers are dealing in some particular brand. So their responses may be biased. It is hoped that the sample size portrays the true picture.
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Selecting a survey technique •
The major factors involved in selecting a survey technique are
•
Cost of collecting the data
•
Speed of getting desired response
•
Accuracy of the data
4.5 : ANALYSIS OF DATA TYPES OF DATA PRIMARY DATA :- It refer to that data which is used in its raw form. For example in our case the SHRINKAGE reports collected from various stores is the RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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primary data.
SECONDARY DATA :- It refers to the information which is collected from the other sources.it can also be defined as the filtered primary data. For example in our case the information obtained from the store managers of the various stores is the secondary data.
Classification of Data Classification is arranging the data according to points of similarities and dissimilarities. The common types of classification are quantitative, geographical and chronological. The objectives are: 1.
To prepare data in to homogeneous groups.
2.
To prepare data to be presented in tabular form
3.
To condense the mass of data in such a way that its salient features are
highlighted.
SHRINKAGE REPORT OF BEL STORE AS ON 20.03.09
SALES RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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NON F & V F&V TOTAL
AS ON 20.03.09 (in Rs.) 2,36,723 6,46,255 30,15,978
AS ON 31.06.09 (in Rs.) 34,17,105 7,70,881 41,87,987
The above given graph shows the sales of NEW BEL ROAD store which was the base for the calculation of shrinkage of two consecutive months.for the purpose of calculating shrinkage of the particular store the sales of that store is taken into consideration both quantity and value wise. A fter the caculation of sales some adjustments are made and the result is in the form of shrinkage of that particular store. Following graph shows the shrinkage value of two consecutive time period.
SHRINKAGE VALUE NON F & V F&V TOTAL
AS ON 20.03.09 ( in Rs.) 53,462 10,164 63,626
AS ON 31.06.09 ( in Rs.) 1,37,710 41,921 1,79,631
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With the help of the above given data shrinkage percentage is calculated. Therefore the Shrinkage percentage of the store is shown in the form of a pie chart
SHRINKAGE PERCENTAGE AS ON 20.03.09 NON F & V 2.26 F&V 1.57 TOTAL 2.11
AS ON 31.06.09 4.03 5.44 4.29
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As we can see that the overall sales of the store as on 20.03.09 was 30,15,978 Rs. having a shrinkage value of 63,626 Rs. which resulted in the shrinkage percentage of almost 2.11 %. Where as if we see the sales as on 31.06.09 it has increased to 41,87,987 Rs. but along with the increase in the shrinkage value of 1,79,631 Rs. resulting in the shrinkage percentage of 4.29%.The above given pie chart shows that the main factor for the increase in the shrinkage percentage was contributed by F & V. We should also know that idle shrinkage percentage is 1 %.
NEW BEL ROAD being the second largest store in BANGALORE have so much shrinkage but a smaller store also faces the problem of high shrinkage. For example we can analyse the shrinkage report of HESSARGHATA store in BANGALORE.
SALES AS ON 08.06.09 RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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NON F & V F&V TOTAL
14,94,756( in Rs.) 1,33,452 ( in Rs.) 16,28,208 ( in Rs.)
SHRINKAGE VALUE NON F & V F&V TOTAL
AS ON 08.06.09 40,482 ( in Rs.) 9,236 ( in Rs.) 49,718 ( in Rs.)
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SHRINKAGE PERCENTAGE NON F & V F&V TOTAL
AS ON 08.06.09 2.71 6.92 3.05
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As the above given pie chart shows that the maximum shrinkage is contributed by F & V ie; fruits and vegetables .as these stocks are perishable. There shelf life is not so long therefore they need proper indent and efficient handling .If not properly handled it can result in high shrinkage as seen above by the way of graphs and pie charts.
NEW BEL ROAD is the second largest store in BANGALORE ,so its obvious that the profit or losses in the store will be high because of its high capacity of storage, .but still HESSARGHATA is one of the store which represents the other existing MORE stores in BANGALORE, which is also facing the problem of high shrinkage. The latest shrinkage audit shows that there is not much difference in the shrinkage of the two stores. We are just trying to see that in a big store like NEW BEL ROAD and an average store like HESSARGHATA , why there is not much difference.
As we can see that the overall sales of the store as on 20.03.09 was 30,15,978 Rs. having a shrinkage value of 63,626 Rs. which resulted in the shrinkage percentage of almost 2.11 %.where as if we see the sales as on 31.06.09 it has increased to 41,87,987 Rs. but along with the increase in the shrinkage value of 179631 resulting in the shrinkage percentage of 4.29%.The above given pie chart shows that the main factor for the increase in the shrinkage percentage was contributed by F & V .
Now if we come to the shrinkage report of HESSARGHTTA store here also we can see that total sales is 16,28,208 Rs. and the shrinkage value is 49,718 Rs. which is resulting in the shrinkage percentage of 3.05% which is comparatively
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.
CHAPTER 5 : SUMMARY AND CONCLUSIONS.
5.1 : Summary of learning Experience When I joined ADITYA BIRLA RETAIL (MORE) . as a Management trainee, that time I really didn’t knew about retail . At the initial stage it was not clear in my mind that what is retail all about but gradually I came to know that retail is not only buying in bulk and selling it in small units but it consists of all the things like HR, MARKETING, OPERATIONS etc .Here I can find growth of myself as an individual and as an employee also. I have learned here how to allocate the resources (staff), managing the human resources, handling various types of customers, how to react on the situations which are not planned or expected? One thing I noticed that we can get then and there results of whatever we planned and applied in the store . Our organization’s
values
also
state
the
same
thing.
(INTEGRITY,
PASSION,
COMMITMENT, SPEED , SEAMLESSNESS) . I have also learned that no work is too small or too big, it’s always how we perceive the task. I even had an experience in cashing which gave me a good learning experience and also helping the cashier if they had any problem.
Following are some of the things which I don’t know before joining MORE but now after working in the store I came to know:1.
I have learned how to present your self in front of customer.
2.
I have also learned the procedures for opening and closing the stores which
was a rare experience. RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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3.
I am able to handle customer’s complaints and service.
4.
It helped me in improving my communication skill.
5.
I have also solved grievances faced by our own staff by listening to them and
doing whatever best I can. 6.
I am able to understand consumer buying behavior and their way of thinking.
7.
I am able to take prompt decisions and how to handle the situation.
8.
I have learned how to implement my ideas in the store so that it can help me in
the improvement of the store. 9.
I have experienced various types of people with different behaviors, which is
beneficial for me in many ways. 10.
Knowing the customers so closely helped me in learning about the customers
behavior and implementing the strategies thereof.
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5.2 : CONCLUSION AND RECOMMENDATIONS.
Conclusion: Through my Project and job responsibilities I handled in the organization I concluded that the store should concentrate more on the F & V (fruits and vegetables) section .As it is perishable in nature and has a short shelf life , it require more concentration . Store should take care of indent because proper indent can solve half of the problem and the rest can be handled by following various practices like reducing wastage by the means of proper handling of F&V (fruits and vegetables). Which includes treatment of green vegetables, proper cleaning etc. and last but not the least by increasing the sales not only of F&V But also for other products which is only possible by retaining our customers by the way of providing them good and hygienic products and satisfactory services. This is totally based on my own perception that I have provided by the organization and market conditions.
Recommendations: My recommendations on SHRINKAGE are 1.
There should be more emphasis on increasing the volume of sales.
2.
Reduction in the wastage of various products specially F & V (fruits and RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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vegetables) 3.
Avoiding excess storage in the store in order to reduce the overall shrinkage.
4.
Ensuring the proper updation of the data in the systems and files as well.
5.
Most important indenting properly .both the F & V and NON F & V items as
wrong indenting of F & V items will lead to wastage which will result in shrinkage and NON F & V items leads to the addition in loss. 6.
Proper handling of the stocks in the store.
7.
Having the accurate knowledge of the stocks available in the store in order to
reduce the excess stock. 8.
Regular checking of the stocks so that correct amount can be indent.
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APPENDIX
Questionnaire:
Q1.WHAT IS SHRINKAGE? Q2.WHY IT IS CONSIDERED AS AN UNACCOUNTED LOSS? Q3.WHAT WAS THE SHRINKAGE PERCENTAGE OF THE STORE THIS TIME? Q4.WHICH SECTION CONTRIBUTED THE MOST IN THE SHRINKAGE? Q5.WHY EVERYTIME F& V IS HAVING THE HIGHER SHRINKAGE VALUE WHICH RESULT IN OVERALL HIGH SHRINKAGE PERCENTAGE? Q6.WHAT ARE THE MEASURES TAKEN BY THE STORE IN ORDER TO DECREASE THE SHRINKAGE? Q7.IS THE STRATEGY ADOPTED IS HELPFUL? Q8. ARE THE PRACTICES MENTIONED BY COMPANY IN RELATION TO F& V ARE FOLLOWED? Q9.IS THERE ANY OTHER PROBLEM FACED BY THE STORE WHICH EFFECTS THE SHRINKAGE VALUE? Q10.WHAT ABOUT THE SALES ,IS IT UPTO THE MARK ? Q11.IF NOT ,ITS POSSIBLE THAT WE ARE NOT ABLE TO REACH OUR RAMAIAH INSTITUTEOF MANGEMENT STUDIES
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CUSTOMERS, IS THERE ANY NEED OF IMPROVEMENT IN THE MARKETING STRATEGY. Q12.WHAT ARE
THE STRATEGY
OF THE STORE
TO CONTROL THE
SHRINKAGE?
BIBLIOGRAPHY
SOURCES OF DATA 1.RETAIL MANAGEMENT BY S.G SHARMA 2.INTERNET SITES :
WWW.GOOGLE .COM
WWW.INFO.COM
WWW.MORESTORE.COM
3.DOCUMENTS COLLECTED FROM STORES AND ZONAL OFFICE.
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