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India·s first national, large format, retail chain for consumer electronics and durables. Croma , managed by Tata Group's Infiniti Retail ltd. Aims to offer its customers a unique shopping experience.
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Infiniti Retail Limited , is a 100% subsidiary of Tata Sons Ltd., promoted to operate in the promising consumer electronics retail market that is evolving in India. Infiniti Retail Ltd., will own and run the retail operations in India, while Woolworths will provide technical support and strategic sourcing facilities from its global network.
V With
the philosophy of ¶We help you buy·, this high tech store promises to provide world class service through a team of highly qualified and trained staff, the best product range in India to choose from and great prices on a consistent.
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The central concept in the Croma store provide wide display of items allow the ´touch and feelµ experience for customers and ensure that trained staff are always there to help customers to make their right choice..
V The
first ¶Croma· store was inaugurated on 9th October 2006, in a suburb of Mumbai, Juhu.
V Infiniti
Retail Limited launched 30 such large format stores across the country by 2008.
V Infiniti
Retail has ambitious plans to expand across India with at least 100 stores by 2011a
V Mumbai V Pune V Gujarat V Chennai V Bangalore V Hyderabad V Aurangabad V Delhi
NCR
V Head
Office Address : x x ! "# $ a V Phone Number xx %&' '" %&%'#% V Website (((a a V Dinancial Details
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These electronics mega stores, will offer the country·s widest range of consumer electronics products across categories and brands With more than 6000 products, 180 brands and 8 categories
Croma has over180 brands and 6000 products for you to choose from V Own brand V Computers V Home appliances V Communication V Gaming V Small applications V Large application V Imaging apart from that Croma, plans to launch new products in rich categories such as jewellery.
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The stores will be spread over 15000 to 20000 sq. ft. At Croma , well-trained store advisors, who have an in-depth knowledge of the products, guide, advise and help you choose a product that's just right for you. Our aim is to ensure that our shoppers make informed purchases.
V Ajit
Joshi, managing director and chief executive of Infiniti Retail, which runs Croma Stores. V Ajit came in with a lot of experience in the service industry with successful stints in the hospitality space as well as in retail arena under his belt. V Chain runs 34 stores and is expecting upwards of Rs 1,100 crore in revenues in the current financial year, a big jump from the Rs 657 crore of 2008-09.
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Tata·s have made significant investments in Infiniti Retail, of Rs 220 crores, despite losses incurred by the chain in the past two years.
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The chain is planning to double the number of stores by the end of 2011 and will invest Rs 150 crores to open 18 more stores in the country by the end of this financial year.
V Croma
realized early on that it had to enter the market with a differentiated offering and format from the current players to meet the latent needs of the consumers in order to be really successful in this market.
V An
analysis of the market showed the market was then populated with price focused local players and that there was limited endeavor to understand and meet all the needs of the consumera
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There was no one player which offered a one stop shop for technology and consumer products, with offerings across brands, price points, product range to suit the varying needs of customers as well as serving diverse customers from different strata of society.
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The existing formats did not offer trial rooms for testing highly sophisticated gadgets with product display and trained staff to assist and provide support and actual demonstration of the use of the product.
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Give optimum service to customers, and extended warranties on products from Tata AIG General Insurance.
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Croma sales people have visited clients' homes to measure the size of their bedrooms and recommend a TV. They have also visited kitchens to measure the space left by the architect for the fridge and recommend one accordingly.
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Croma also makes recommendations, based on the energy- and water-saving potential of the product.
V At
the store, clients are encouraged to get a feel of the product they intend to buy. The mobile phones are pre-activated and the 45-odd laptops and computers on display are Wi-Di connected, so clients can browse the net and decide which one to buy.
V The
recruitment process that Croma follows for new stores has saved the company lacs in spending on advertisement and recruitment consultants. V This process also allows ¶just-in-time· recruitment and ensures that the company does not overstaff. Before any store opens (around 2 months before the opening date), the preparation work starts in the new stores.
V This
is the time where Croma advertises simultaneously to future customers and potential candidates the openings of the new store.
VA
walk-in interview occurs 45 days before the scheduled time of opening and the store gets more than 80% of the personnel required from this simple and economic source of candidates.
V The
company encourages its young and vibrant workforce to focus on achievement through collaboration and innovation. V On monthly basis, divisions are given targets based on units sold the target set is a team target and the achievement of this target will mean payment of incentives for the complete team.
V Similarly,
failing to achieve this monthly target means that nobody from that team gets incentive.
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This model seems to work very well as the ratio of stores achieving their targets is between 60 to 80 % in any given montha
V Product
understanding and RSS - Retail Selling Skills are key modules that help improve customer service in associates. V Before a new store opens, a specialized team travels to the new location to coach the new team. V Croma also has a planned refresher training periodically to ensure that everyone is abreast with the latest in both soft and hard skills.
V The
croma stores directly SEGMENTED the areas they wanted to work upon i.e cities with high per capita income or simply metro cities.
V The
stores are designed in a contemporary fashion with state of the art architecture to give you the best experience while shopping.
V Strengths:
being a tata concern it already had consumer trust and a huge capital.
V Weakness:
it was heading into a market which was already being dominated by NEXT, videocon group, which plans to open another 300 stores soon ,reliance digitala
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CROMA had a large opportunity ahead because of the increasing retail business. the sector is growing tremendously at a fast rate.
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THREATS: THREATS were the players in the market which had already invested huge in retailing and were having a good market share already..threats were also the local dealers and distributors which were blooming because of personal factors like loyalty etc.
As even I visited croma and analyzed there for an hour. I found out that customers when they enter get to see a lot of products and variations, they feel delighted because of the neat and good ambience and most of them do find a product which suits there need. V And a salesman told me that most of customers look for products ranging between 1500020000.they have over 6ooo types of products. V consumers are accepting it and buying from it. it has increased its market share rapidly and croma intents to reach 100 store mark by 2012. V
V Croma
V The
wins 'Most Admired Retailer 2010¶
a company posted a turnover of Rs1,110 crore in 2009-10
V It
has created formidable brand value and all within only 4 years of existence. While a number of retailers are struggling for survival and others are on the verge of either closure or merger or being sold off because of economic meltdown.
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Thank you Mrs. Sharmila devi
