Final Report (Sip)

COMPREHENSIVE STUDY ON SPENCER’S HYPER STORE (RASHBEHARI) OINDRI CHAKRABORTY PGPM 8 ENROLMENT NO. - 010108034 ACKNOWLEDGEMENT I express my gratitude to those who generously helped and encouraged me in carrying out this project with their knowledge and expertise. I am indebted to Mr. Siddharth Chakraborty, (Marketing Head, Kolkata) for giving me the opportunity to do my ON JOB TRAINING in this esteemed organization, and constantly guiding me by providing the necessary inputs and helping me at every juncture through the Project. I convey my special thanks to the Store Manager Ms. Sharmila who has spared her valuable time and guided me throughout the training process. She has provided me an enlightened perspective and a friendly environment to work in. I am also thankful to some of the employees of the organization, especially to the Marketing Officer of Rashbehari Store, Mr. Amitava Kabasi, for his kind cooperation in providing me with the required materials needed for the said project. I express my gratitude to Prof. Supriyo Chatterji & Prof. Debraj Datta, Globsyn Business School, Kolkata, for their extended cooperation throughout the training process whose practical knowledge and experience has helped me in understanding the research principles and relating it in the practical field & for assisting me whenever I faced problems. Oindri Chakraborty Approval of the guide/supervisor As per approval of the company guide Mr. Siddharth Chakraborty I was assigned with the project in Spencer’s Retail, under whose guidance & supervision I have prepared this project. And as per approval of our institute mentor Prof. Supriyo Chatterji and Mr.Debraj Datta, I was assigned to do my project with Spencer’s Retail. DECLARATION I hereby declare that the project titled “Comprehensive Analysis of Spencer’s Hyper Store” submitted for partial fulfillment for the Post Graduate Program In Management at Globsyn Business School, Kolkata is a genuine work undertaken by me,that it has not been published anywhere else, is true to the best of my knowledge & belief ,based on the Market survey conducted by me. Oindri Chakraborty (Enrolment No. 010108034) Globsyn Business School CONTENTS PAGE NO. INTRODUCTION ………………………………………………………………………………………… 7 EXECUTIVE SUMMARY………………………………………………………………………… 7 RETAIL IN INDIA……………………………………………………………………………………… 8 COMPANY PROFILE……………………………………………………………………………………… 10 SPENCER’S RETAIL………………………………………………………………………………… 10 PROJECTS………………………………………………………………………………………………………… 12 ATR ANALYSIS………………………………………………………………………………………… 12 SURVEY FOR GARMENTS SECTION…………………………………………………… 12 FEMALE CUSTOMER PROFILING………………………………………………………… 12 ATR ANALYSIS……………………………………………………………………………………………… 13 BRIEFING………………………………………………………………………………………………… 13 QUESTIONNAIRE…………………………………………………………………………………… 14 FINDINGS & ANALYSIS………………………………………………………………………… 17 SPECIAL OBSERVATIONS & RECOMMENDATION………………………… 21 SURVEY FOR GARMENTS SECTION……………………………………………………… 22 BRIEFING………………………………………………………………………………………………… 22 QUESTIONNAIRE…………………………………………………………………………………… 23 FINDINGS & ANALYSIS……………………………………………………………………… 24 SUGGESTIONS & RECOMMENDATION…………………………………………… 27 FEMALE CUSTOMER PROFILING…………………………………………………………… 28 BRIEFING………………………………………………………………………………………………… 28 QUESTIONNAIRE…………………………………………………………………………………… 29 FINDINGS & ANALYSIS………………………………………………………………………… 29 OTHER SIGNIFICANT ISSUES…………………………………………………………………… 31 RECOMMENDATION…………………………………………………………………………… 34 BIBLIOGRAPHY …………………………………………………………………………………………… 36 LIST OF FIGURES AND GRAPHS FIGURES/GRAPHS PAGE ATR- Sample, SEC grid & Awareness…………………………………17 Mode of communication, Reasons for not trying, & No. of respondents who tried……………………………………..18 Frequency of visit (Monthly), Preferences of Stores Ratings……………………………………………………………..19 Counts on how many have visited south city Spencer’s…………..20 Garments Survey-Gender, Awareness, Trial……………………………… 24 Ratings in terms of Quality, Variety, Price, Promotions & offers, Latest in fashion ………………………….…25 Female customer profiling- Tables…………………………………….……29 Age Groups, Educational Qualifications, Marital status Occupation, Monthly Income Slab………………………………….30 Other significant issues- Anomalies in the store…………………….……. 32-35 EXECUTIVE SUMMARY Project Title: “Comprehensive Survey” Area of Working: Kolkata Name of Organization: Spencer’s Retail, Kolkata Duration: 01-04-2010 to 10-06-2010 Study done by: Oindri Chakraborty, Globsyn Business School Project Conducted: ATR (Awareness, Trial, Repeat) Analysis of the catchment area of the Rashbehari Hyper Store Survey conducted to understand the awareness for the garment section of the same store Female customer profiling INTRODUCTION Retail Scenario in India The Indian retail industry is the fifth largest in the world. Comprising of organized and unorganized sectors, it is one of the fastest growing industries in India, especially over the last few years. Though initially, the retail industry in India was mostly unorganized, however with the change of tastes and preferences of the consumers, the industry is getting more popular these days and getting organized as well. With growing market demand, the industry is expected to grow at a pace of 25-30% annually. The Indian retail industry grew from Rs. 35,000 crore in 2004-05 to Rs. 109,000 crore by the end of year 2010 Growth of Indian Retail According to the 8th Annual Global Retail Development Index (GRDI) of AT Kearney, India retail industry is the most promising emerging market for investment. In 2007, the retail trade in India had a share of 8-10% in the GDP (Gross Domestic Product) of the country. In 2009, it rose to 12%. It is also expected to reach 22% by 2010. According to a report by Northbride Capita, the India retail industry is expected to grow to US$ 700 billion by 2010. By the same time, the organized sector will be 20% of the total market share. It can be mentioned here that, the share of organized sector in 2007 was 7.5% of the total retail market. Retail formats in India Hyper marts/supermarkets: large self-servicing outlets offering products from a variety of categories. Mom-and-pop stores: they are family owned business catering to small sections; they are individually handled retail outlets and have a personal touch. Departmental stores: are general retail merchandisers offering quality products and services. Convenience stores: are located in residential areas with slightly higher prices goods due to the convenience offered. Shopping malls: the biggest form of retail in India, malls offers customers a mix of all types of products and services including entertainment and food under a single roof. E-trailers: are retailers providing online buying and selling of products and services. Discount stores: these are factory outlets that give discount on the MRP. Vending: it is a relatively new entry, in the retail sector. Here beverages, snacks and other small items can be bought via vending machine. Category killers: small specialty stores that offer a variety of categories. They are known as category killers as they focus on specific categories, such as electronics and sporting goods. This is also known as Multi Brand Outlets or MBO's. Specialty stores: are retail chains dealing in specific categories and provide deep assortment. Mumbai's Crossword Book Store and RPG's Music World are a couple of examples. Challenges facing Indian retail industry ,[object Object]

Lack of adequate infrastructure facilities

Dissimilarity in consumer groups

Restrictions in Foreign Direct Investment

Shortage of retail study options

The Future The retail industry in India is currently growing at a great pace and is expected to go up to US$ 833 billion by the year 2013. It is further expected to reach US$ 1.3 trillion by the year 2018 at a CAGR of 10%. As the country has got a high growth rates, the consumer spending has also gone up and is also expected to go up further in the future. In the last four year, the consumer spending in India climbed up to 75%. As a result, the India retail industry is expected to grow further in the future days. By the year 2013, the organized sector is also expected to grow at a CAGR of 40%. COMPANY PROFILE Spencer’s Retail Since 1863, Spencer’s has been a part of the Indian retail landscape. At one time, the Spencer’s Empire stretched from Peshawar to Cochin, from Karachi to Chittagong, spanning the length and width of undivided India. Originally owned by a British gentleman (John William Spencer) it acquired Indian ownership in the 1960s, and became part of the RPG Group in 1989. In 1995, RPG Enterprises, the flagship company of the RPG Group, launched “Food world” as a joint venture with Hong-Kong based Dairy Farm International. The joint venture, which operated supermarkets under the name “Food world” and hypermarkets under the name “Giant”, was terminated in 2006. RPG retained 48 of the 93 stores it owned. These were re-furbished and their launch under the brand name, Spencer’s, kicked off a new phase in both the history of the Spencer’s brand, and the retail in India. Since inception Spencer’s has been a consumer-centric brand, constantly innovating, pioneering formats, evolving over time but always keeping consumer needs and satisfaction center-stage. Back in 1920, it was the first grocery chain in India. In 1980, it became the first supermarket chain, and in 2001, it introduced India to the joys of hypermarket shopping. Brand positioning – “Taste the World” Spencer’s embodies this unique approach, promising consumers a fun-filled shopping environment with the best that the world has to offer in terms of interiors, ambience and merchandise. The following characteristics distinguish the Spencer’s brand and create memorable 360° shopping experiences for consumers: • Products – It offers the widest range of food and lifestyle (fashion, home, entertainment) brands, with a special expertise in food. • Quality – It lays a huge emphasis on all-round quality: in products, stores, service standards, and customer engagement programs. • Heritage – Spencer’s are India’s oldest retailer, with many firsts to its credit. • Multiple Formats – from daily to weekly and specialty shopping, it fulfills every need and provide maximum convenience. • Promotions – It seeks to offer the right products at the right time at the right price, with promotions carefully designed to suit the buying cycle and shopping basket of the consumers. • Brand Imagery – The stores and staff seek to make the customers feel right at home, being international, contemporary, accessible, empathetic and trusted. Innovations Throughout its long history (the first ever Spencer’s store opened in 1895), Spencer’s has been a recognized and respected player in the Indian grocery business, synonymous with quality goods and services, trusted by India’s exploding population of the upwardly mobile middle class. Spencer’s has continually helped reshape the retail landscape in India, introducing a host of innovations to make shopping even more convenient and enjoyable for the consumer. These include: Retail Design Initiatives The Retail Design team helps Spencer’s deliver its brand promise in a way that is sophisticated, but not snobbish. This result in differentiation without alienation of loyal customers or loss of the brand equity acquired over the years. Central to the retail design strategy is a unique brand position – “Taste the World”, derived from the consumer’s own transition from a price-conscious purchaser to a global-minded, well-travelled citizen of the world, looking out for authentic international flavors and experiences. Spencer’s has consequently evolved from being a preferred grocery retailer to being a passport to a stimulating world. This is evident in: • Storefront Design – the store entrance resembles that of an entrance arch, leading in the shopper to a world that is welcoming and exciting. • Interior Design – to ensure that shoppers enjoy a warm and friendly ambience, an upscale look and feel, the joy of exploring and the convenience of locating what they want. • Shop fit Design – from chef’s tables to signage aids, the emphasis is on attractive, space- efficient and low-maintenance presentation of modern, international goods alongside local flavors and product experiences. • Innovative Use of Materials, Finishes, and Lighting - from color-corrected lighting warming up the foods and vegetables area, to carefully selected veneers and textures that complement the attractive, color palette of bright orange, white, and Swiss coffee, our store interiors have a fresh, cheerful, and expansive feel. • Graphics & Signage - shopping at Spencer’s is a visual treat, enhanced by bright orange “Heritage boards” that tell the Spencer’s story, curved signage featuring the signature “Taste the World” tagline, and category-specific color arches suspended over zones and departments to provide visual relief and act as navigational aids. Originally rolled out at the Spencer’s hypermarket at South City Mall, Kolkata, the new retail design program is being implemented at all stores. PROJECTS ATR Analysis This study was conducted to understand the level of awareness of the people residing in the catchment area of the Rashbehari hyper store and also to see what aspects they prioritize when it comes to grocery shopping & their purchase behavior. Survey for the Garment Section This survey was done to understand the level of awareness of people who come to shop in the Rashbehari store in regards to the garments section inside the store, & to get the feedback from those who have already tried the clothesline available there. Female Customer Profiling This study was done to understand and categorize the women who visit the store, throughout its operating time. ATR ANALISYS Objective ,[object Object]

Obtain a general opinion of the respondents in regards to the various aspects that add up to decide their preferences when it comes to making purchase decisions

To assess the overall perception of the respondents in regards to the brand, its schemes, pricing & several similar aspectsCriteria ,[object Object]

The respondents should be related in the decision making, or be in the know when it comes to monthly grocery shopping

The earning member should belong to A1,A2,B1 or B2 level of the SEC GridMethodology Type of Research - In this project descriptive research is used. Data Source - Information has been gathered through primary sources. Questionnaire Design - For research purpose questionnaire has been designed with close ended questions, keeping in mind the purpose of the survey. Area – As per the criteria of the survey, the area within which the survey was conducted was within 5km radius, considering the store to be the centre point. Sample Size - The size of the sample is 250 people as per suggested by the company guide. Survey The survey was conducted by going door to door to the respondents in their residences. The survey was initiated by checking whether the respondent meets up to the criterions of the survey and then the main questionnaire was filled up to collect the data for the study. QUESTIONNAIRE Customer Insight Project For office use only Name: ………………………………… Address: ……………………..……………………………………………………………………………. …………………………………………………………………………………………………………...... Telephone:…………………………….Gender…………… Marital Status…………………….……..... SEC GRID EDUCATIONCIRCLE SEC CODEIlliterateLiterate no formal educationSchool up to 4 yrsSchool5 - 9yrsHSC/SSCSomecollegebut notGradGrad/Post Grad-Gen.Grad/PostGrad-Prof.OCCUPATIONCODE12345678Unskilled Workers1E2E2E2E1DDDDSkilled Workers2E2E1E1DCCB2B2Petty traders3E2DDDCCB2B2Shop owners4DDDCB2B1A2A2Businessman/ Industrialists None5DCCB2B1A2A2A1with no. of 1 - 96DCCB2B1A2A1A1Employees 10 +7B1B1B1A2A2A1A1A1Self employed professionals8DDDDB2B1A2A1Clerical/Salesman9DDDDCB2B1B1Supervisory levelADDDCCB2B1A2Officers/Executives – JuniorBCCCCB2B1A2A2Officers/Executives-Middle/SeniorCB1B1B1B1B1A2A1A1 1) Are you aware of Spencer’s Stores (Rashbehari): 1) Yes 2) No Proceed if Answer to Q1 is Yes else ask Q6 and exit 2) How did you get to know about Spencer’s (Rashbehari in regular basis about the offers & like): 1) Word-of-Mouth 2) Newspapers 3) Flyers/Leaflets 4) SMSes 5) Any other source...please specify 3) Have you ever visited Spencer’s Rashbehari? 1) Yes 2) No Proceed if Answer to Q3 is Yes else Q4 if no & ask Q6 and exit Any particular reason for not visiting Spencer’s? Too far from home 2) Happy with present shops 3) Think items are costly 4) Heard it’s not good 5) Store is too cluttered 6)Billing is slow 5) In the last 2 months, how many times have you visited Spencer’s Stores? 1) Once 2) 2 times 3) 3 times 4) More than 3 times 6) Which store do you visit for the following requirements? Spencer’sBig BazaarMoreSpinachC-3ArambaghFood martVishal Mega MartRelianceFreshLocal Kirana (Names)Food Items (Grocery, FMCG, RTE, etc..)Personal Care Items (toothpaste, shampoos, soaps, etc..) Home Care (Cleaning aids, utensils, home décor etc..)F&V F&M 8) For Spencer’s, rank the following attributes from 1 to 6: 123456Store ambience product quality low price good assortment ServiceShopping Convenience 9) Have you visited South City Spencer’s? 1) Yes 2) No 10) Why South City & not Rashbehari? THANK YOU FOR YOUR VALUABLE INPUTS AND SUGGESTIONS FINDINGS & ANALYSIS TOTAL RESPONDENTS 250MALE 80FEMALE 170 CATEGORYNO. OF RESPONDENTSA1 55A2 112B1 60B2 23 AWARENESSNO. OF RESPONDENTSYES 241NO 9 lefttop TRIALNO. OF RESPONDENTSYES 198NO 43 FREQUENCYNO. OF RESPONDENTSSELDOM 22ONCE 50TWICE 41THRICE 50MORE THAN THRICE 35 PREFERENCE OF STORES RATINGS RESPONSENO. OF RESPONDENTSYES 164NO 73 REASONS FOR PREFERING SOUTH CITY STORE OVER RASHBEHARI ,[object Object]

Wider varieties in clothes section

Wider range of home care products

Availability of Bakery Products

Shopping convenience; Less Cluttered

Better Food Court SPECIAL OBSERVATIONS ,[object Object]

When approached in public hang out areas, respondents were comparatively more willing to take part in the survey.

Most of the respondents replied that they would prefer home deliveries.Major chunk of the respondents were not aware that Spencer’s had the provision of delivering goods at home, post purchase. People preferred advertisements that attract them, otherwise they generalise offers that are allocated by different retailers Absence of Visibility (Billboards) was sighted as one of the hindrances that Spencer’s faces when it comes to communicating its seasonal offers. Communication of offers to customers was not prominent, for which most of the customers were not aware of various offer cycles which are implemented. RECOMMENDATIONS ,[object Object]

Sponsoring events occurring in the store’s catchment is a tried & tested way to gain attention

This particular store should advertise in its catchment about its home delivery policies,so as to

inform & convert the people there

Spencer’s depends heavily on leaflets which has a lesser capacity to ‘inform’ people about the various offer cycles, instead they can try using ‘Helium Ballons’ which is easy on budget yet highly

Attractive in front of their stores

A Brand Ambassador renders character to a brand, Spencer’s also should appoint an ambassador to

build its image SURVEY FOR THE GARMENTS SECTION Objective ,[object Object]

Search for reasons why people tend not to go to the first floor of the store where the garments section is located.

To assess the overall perception of the respondents in regards to the brands of garments (home brands of Spencer’s), its schemes, pricing & several similar aspects.Criteria Respondents were to be approached only in the ground floor & not in the first floor Methodology Type of Research - In this project descriptive research is used. Data Source - Information has been gathered through primary sources. Questionnaire Design - For research purpose questionnaire has been designed with close ended questions, keeping in mind the purpose of the survey. Area – The survey was conducted in the ground floor of the store premises. Sample Size - The size of the sample is 200 people as per suggested by the company guide. Survey The survey was conducted by approaching the customers inside the store, but only in ground floor & not in the first floor, as per criteria. QUESTIONNAIRE Name: Age: Gender: Telephone no. : Are you aware that there is a garment section upstairs? ,[object Object],If yes, then have you tried any of the products? 1) Yes 2) no If yes, then how do you rate our garments in terms of –? ,[object Object],A) Very poor b) poor c) satisfactory d) good e) very good ,[object Object],A) Very poor b) poor c) satisfactory d) good e) very good ,[object Object],A) Very poor b) poor c) satisfactory d) good e) very good ,[object Object], A) Very poor b) poor c) satisfactory d) good e) very good ,[object Object], A) Very poor b) poor c) satisfactory d) good e) very good Reasons for not trying: 1) Desired size not available 2) price is too high 3) poor quality 4) No premium brands available 5) products are not trendy 6) other reasons Where do you shop for garments? 1) Pantaloons 2) local gariahat stores 3) branded outlets 4) any other, specify Any suggestions:- FINDINGS & ANALYSIS TOTAL RESPONDENTS 200MALE 67FEMALE 133 AWARENESSNO. OF RESPONDENTSYES 166NO 34 TRIALNO. OF RESPONDENTSYES 95NO 71 REASONS FOR NOT BUYING ,[object Object]

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