Future Retai

8/15/2019 Future Retai

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OBJECTIVES & SCOPE OF THE STUDY

Objective:-

• To analyze consumer behavior towards consumption of fast food.

Scope of the project:-

The market survey has done in fast food restaurants; this project is useful for the

better understanding of the consumer behavior. The project encompasses the various

behavior of customer, their pre and post behavior when they eat. There is also overview

of the consumer’s attraction towards fast food restaurants, mostly consumer

perceptions are changing and most of the consumer now prefers to eat in fast food

restaurant. The project work involves specific guidelines for the restaurant and helps the

restaurants to understand better the consumer behavior in fast food restaurants.

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Cop!"# profi$e

% I'T(ODUCTIO' TO I'DUST(Y

Overvie)

In India when a customer needs something for home, a typical thought is to seek it from

the bazaar. bazaar is a place where a complete range of product is always available

to the consumer. This is true all over India. s the store would offer a large mi! of

products at a discounted price, the name big bazaar was finalized. That is how the store

design was finalized. The store should on one hand provide the customer the look and

feel of a bazaar and on the other hand should provide them a shopping e!perience.

The store design and layout tells a customer what the store is all about. It is a very

strong tool in the hands of the retailer for communicating and creating the image of the

store in mind of the customer. The design and layout of the store are a means of

communicating the image of the retail store. The primary consideration that a retailer

takes into account while choosing the look of his store is his target audience, their need

and their buying behavior, secondly the merchandise that he is going to sell.

"#$ big bazaar %super center and hypermarket& is a 'floor building comprising of ()

home line of business, * joint venture with %+ee cooper, +oot mart, ollar store, -avras

gold jewelry, sports& and few shop in shop. "#$ big bazaar is the India’s biggest big

bazaar with a (/// per s0. feet sales. It comprises of built up area of (1122 s0. feet

and retail area of 12/*) s0 feet with average footfalls of '/// customers per day. 3ig

bazaar is coming up of with more shop in shop so that they can cater to the needs of

diverse culture of customers coming to the store. 4ustomer coming to big bazaar can

shop, eat and entertain themselves under one roof.

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s customer’s tastes and preferences are changing, the market scenario is also

changing from time to time. Today’s market scenario is very different from that of the

market scenario before (55/. There have been many factors responsible for thechanging market scenario. It is the changing tastes and preference of customer which

has bought in a change in the market. Income level of the people has changed; life

styles and social class of people have completely changed now than that of olden days.

There has been a shift in the market demand in today’s world. Technology is one of the

major factors which is responsible for this paradigm shift in the mark. -ew generation

people are no more dependent on haat market and far off departmental stores. Today

we can see a new era in market with the opening up of many departmental stores,

hyper market, shopper’s stop, malls, branded retail outlets and specialty stores. In

today’s world shopping is not any more tiresome work rather it’s a pleasant outing

phenomenon now.

#y study is based on a survey done on customers of a hypermarket named big bazaar.

3ig bazaar is a new type of market which came into e!istence in India since (55*. It is a

type of market where various kinds of products are available under one roof. #y study is

on determining the customer’s buying behavior of customer’s in big bazaar and the

satisfaction level of customers in big bazaar. #y study will find out the current status of

big bazaar and determine where it stands in the current market.

This market field survey will help in knowing the present customers tastes and

preferences. It will help me in estimating the customer’s future needs , wants 6

demands.

Theoretic!$ Per*pective

(et!i$i"+

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The Indian consumer could well be crowned 7ing with all economic indicators in the

right place. 8ueuing up for the coronation ceremony are a multitude of global

companies that are looking at India as the ne!t consumer market powerhouse. nd it

seems to be the retail sector that will give the desi consumer royal status.

In this study I will try to find out the present scenario of retail market in India. This

project will give focus on the global scene to retail industry and what will drive the

growth of industry in the future.

$etailing is the final step in the distribution of merchandise, the last link in supply chain

9 connecting the bulk procedures of commodities to the final consumers.

$etailing in India is thoroughly unorganized. There is no supply chain management

perspective. ccording to a survey b y T 7earney, an overwhelming proportion of the

$s. *//,/// crore retail market is :-"$-Irom a size of only $s./,/// crore, the "$-I


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arrival of foreign players in consumer retailing. lthough >I remains highly restricted in

retailing, most companies believe that will not be for long,G says eepankar I in retail has once again begun to appear imminent following Crime #inister

#anmohan ood Jorld B a leading supermarket chain set up by $C; the

$aheja’s $s(.?bn


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>uel retailers, notably 3C4+ and HC4+ are also e!panding their presence from fuel

retail to grocery and convenience stores.


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Eer+e"ce of *peci!$t# ret!i$i"+

Though organised retailing is still at a nascent stage B accounting for only around two

per cent of the A(?/ billion retail market in India B it is likely to touch (/ per cent by

the end of this decade. >our product categories have led the organised retailing

waveF foods, apparel, lifestyle products, consumer durables and electronics. In

recent times, several theme malls such as old


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market. The future is promising the market is growing government policies are

becoming more favorable and emerging technology and facilitating operations.

our Jheelers.

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4ustomers have proper places to put their luggage while entering the store, proper

security feature are provided to give them a feeling of safety and wellbeing.


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an overall picture of the floor in a single view. Croper spacing is provided for fi!tures,

walking area and Highlights like 3oards and


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is just the beginning. 3ig 3azaar plans to add much more to complete your shopping

e!perience.

It is chain of shopping malls in India currently with )( outlet owned by 7ishore

3iyani’sCantaloon roup.

3ig bazaar is not just another hypermarket.

It provides the best products at the best price.

It reflects the look and feel of Indian bazaars at their modern outlets .

ll over India, 3ig 3azaar attracts a few thousand customers on any regular day.

%3 T!r+et /4,ie"ce:

3ig 3azaar targets higher and middle class customers.

The large and growing young working population is a preferred customer

segment.

3ig 3azaar specifically targets working women and home makers who are the

primary decision makers.

%5 Fe!t4re* of Bi+ B!!!r6

In 3ig 3azaar, "#$ following features are thereF

(. "#$ outlet focuses on all classes.

. It is a oneBstop shop, anything and everything which is in the market is present

here.

). aming section >.() is there which cannot be found in all outlets

*. :nise! salon


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2. The food court is there where one can have refreshments and rela!.

1. +ifts are there for convenience.

'. Choto section is there on the ground floor where one can take out prints in

different ways

S!$e* prootio"


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$etailing one of the largest sectors in the global economy is going through a transition

phase not only in India but the world over.

The study of any subject is made easier by e!amining it in an organized fashion. There

are three classes of variables involved in understanding consumer behavior, stimulus,response and intervening variables. or e!F B purchasing a product or forming attitudes about it could be

viewed as responses variables.

#any of the variables affecting consumer %such as personality, learning, and

perceptions of e!ternal situations, motives, and so forth& cannot be directly observed

therefore, those who want to learn about the variables affecting consumer must often

make inference to determine the e!tent to which a given variable is having an influnce

The study of consumer behavior can also be 0uite comple!, because of the many

variables involved and their throw the variables, tendency to interact with and influence

each other. #odels of consumer behavior have been developed as a means of dealing.

Jith this comple!ity. #odels can help organize out thinking about consumers into a

coherent into a coherent whole by identifying relevant variables, describing their basic

characteristics, and specifying how the variables relate to each other.

Co"*4er ,eci*io"* Proce**

This process consists of the decision process regarding products and services. The

major steps in this process are shown as problem recognition, information search and

evaluation, purchasing processes, and post purchase behavior. Croblem recognition

occurs when the consumer is activated by awareness of sufficient difference her actual

affairs and her concept of the ideal situation. This can occurs through activation of a

motive such as hunger, by confronting some e!ternal stimulus such as an

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advertisement, or by being effected by additional variables such as social or situational

influences.

Internal search 9 a 0uick and largely unconscious review of memory for stored

information and e!periences regarding the problem. The information is in the form of belief and attitudes that have influenced the consumer’s preference towards bands.

"ften such a review results in recognizing a strong brand preference, and a routine

purchase occurs. However if an internal search does not provide sufficient information

about products, or how to evaluate them, the consumer continues with a more involved

e!ternal search for information. This result e!posure to numerous informational inputs

called stimuli, which can arise from a variety of sources, including advertisement,

printed products reviews, and comments from friends.

ny informational stimuli are subjected to informationBprocessing activities, which the

consumer uses to derive meaning from stimuli. The process Involves allocating

attention to available stimuli deriving meaning form these stimuli and holding this

meaning in what is termed in what is termed short term memory where it can be

retained briefly to allow further processing.

I",i!" ret!i$ !r8et *ce"!rio

The financial year //2B/1 saw India ride high on the waves of a booming economy.

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3etween the affluent and the middle class has reduced dramatically. The Indian middle

class is e!pected to grow from its current share of L to ) L of the total population

by /(/ over the last few years retail has become one of the fastest growing sector in

the Indian economy. $etail in India is currently estimated to be a A)/ billion industry of

which organized retail ) L or roughly A ' billion. t keamey has identified India as the

leading retail destination in their annual list of most attractive countries for international

retail e!pansion %lobal retail development inde! //1&. "rganized retail is e!pected to

grow at the rate of 2B)/L per annum and is projected to attain a size of A) billion by

/(/.

The booming services sector in India has fueled the growth of a new class of consumer

the single urban youth whose e!penses are typically independent of family compulsion.

s observed globally the steady climb in lifestyle and leisure goods is essentially due to

disposable income of this class of consumers. "ver the last one year salaries have

increased by appro!imately (2B/L. The divide

The government has allowed foreign direct investment in real estate since early //2.

This has led to increased foreign interest and has encouraged joint ventures between

Indian and foreign developer. 4onsidering the vast potential in the retail business 2(L

>I in single brand retailing has also been allowed recently. This move is anticipated to

attract foreign investment technology global best practices and cater to the demand for

high 0uality branded goods in India.

4orollary to the real estate growth retail boom too has percolated to the tierB and tierB)

cities of India of the total )1( mail projects currently underway in India ' are in the top

' cities while the rest ()* are distributed over various tierB tier) cities. These statistics

reveal the far reaching effect of positive macro trends

In changing the consumer preferences and shifting mindsets towards organized retail

e!perience besides new malls close to )2 hypermarket )2 large department stores

and over (//// new outlets are also under development. rowth in rural population and

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increase in agricultural incomes also offers considerable scope for innovative retail

formats.

India’s vast middle class and its virtually untapped retail industry are key attraction for

global retail giants wanting to enter new markets. s India continues to get stronglyintegrated with global policies the retail sector is bound to grow manifold in the years to

come. The depth of the Indian market and the variations of the consumer profile portend

a bright future for the sustained growth of the Indian retail sector.

C4rre"t *ce"!rio

Cune has been e!periencing a retail boom since the last B) years in //2

appro!imately (.2 mm. s0. ft of new retail space was added to Cune real estate

market. This led the current retail stock of the city to grow to ).2 mm.s0 ft growth in

commercial activities and the migrant population of young white collar workers has been

the key driver of real estate boom in the city.

Jith ) mall projects in the pipeline the city was e!pected to have a cumulative retail

slot of appro!imately *.2 mn.s0 ft by end //1 and infusion of new retail space over the

ne!t two years the total retail stock in Cune by end //? is estimated to be about ?.'

mn s0 ft.

The city has been witnessing an interesting trend of movie screens being located in

large format mall developments. nother noticeable trend in the retail format is the

advent of specialty mall or niche malls.

Ce"tre $oc!tio"*

The locations where retail developers have flourished traditionally are the high streets of

# . $oad > 4 road and O. #. road in the central part of the city these markets have a

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uni0ue mi! of local brands along with national and international retailers both are known

to generate substantial revenues along with heavy footfalls.

However the development of malls in the neighboring locations is anticipated to affect

the footfalls of these traditional high streets. case in point is the presence of magnummall %('2/// s0. ft.&

In the camp area which has created a pull effect on the consumer stronghold of #. .

road.nucleus mall %///// s0 ft & in camp which became operational in //2 had

shoppers stop take up space for its second outlet in the city. nother large scale project

Cune central a mall by pantaloon retail on bund garden road has food bazaar as its

anchor tenant and caters to the domestic needs of the bulk of the resident population of

central Cune.

These retail market in the central location of the city currently house appro!imately (.'?

mn.s0.ft of retail stock a new mall fun n travel %(///// s0 ft& has been planned in the

bund garden region while two malls ascent %5)12* s0 ft& nd one centre port %(*////

s0 ft& are coming up on the university road. These developments are slated to enter the

market sometime in //'.

S4b4rb!" !", peripher!$ $oc!tio"

Jhile the retail markets in camp an bund garden road continue to mature retail sector activity is increasingly shifting to suburban and peripheral locations of undh, Hadpsar

karve road kondhwa and yerwada note wothy mall development sudev a!is %)2////&

will also be operational in //' this micro market is e!pected to witness a number of

large scale mall developments amounting to appro!imately .) mn s0 ft of new retail

space by //?.17


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(ESE/(CH 9ETHODO0O.Y

$esearch #ethodology ill common parlance refers to a search for knowledge. "ne can

also define also research as a scientific and systematic research for pertinent

information a specific topic. $esearch is an art of systematic investigation.


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(e*e!rch I"*tr4e"t

The research instruments used for collecting the primary data were the 0uestionnaire.

;4e*tio""!ire

The 0uestionnaire was carefully developed tested and debugged before they were

administered on a large scale. =ach 0uestions contributed to the research objective

here 0uestionnaire is structured types means there are concrete, definite and

predetermined 0uestions.

The 0uestions are presented are e!actly same wording and in the same an order to all

respondents. The 0uestionnaire had a mi! type of open ended, closed ended and

multiple choice 0uestions. The 0uestions were limited in numbers simple direct and

unbiased technology was adopted.

D!t! So4rce:

Pri!r#:

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The data was collected through 0uestionnaire comprising of (' 0uestions.

Seco",!r#:

The data was collected throughF 3ooks, #agazines, Crinted #aterial vailable at


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FI'DI'.S /'D OBSE(V/TIO'S

(. lmost every person contacted or interviewed said that heshe has visited malls.#a!imum number of respondents said they are aware of malls.

. >rom analysis we found out that most of the people were affected and attracted

with offers and schemes.

). It has been found out that most of the people in Cune city visit malls for

refreshment and enjoy.

*. 4onsumers choose malls to stop because they all want variety and brands and

shopping at malls according to the consumers is economic as compared to

shopping at other places.

2. #ost of the people who were interviewed by me responded that brand loyal andmost of them stack to the brand they like.

1. dvertising plays a very crucial part in the consumer decision making process.

'. #ost of the respondents take on the spot decision of buying different products

because of the various attractive product displays and pretty combination which

the store tries on the manne0uins is mostly dependent by the customers, show

that most of the consumers are attracted towards different fancy displays.

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?. >or most of the respondents 0uality plays a very important role because most of

the respondents said that they want 0uality products’ and that’s also one reason

for most of the respondents sticking to particular brands.

5. Je can also say that location, variety convenience and economical products are

not the only things which attract the customer but there are some other factors

which play a major role in attracting the customers as mentioned.

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D/T/ /'/0YSIS

;4e*tio" 'o %

Do #o4 Vi*it !$$<

o you visit Res -o

-o. of $espondents %L& (//L /L

-o. of $espondents %in

no.&

2/ /

I"terpret!tio"

ll the candidates interviewed visited mall.

;4e*tio" 'o 2

ith )ho #o4 prefer to vi*it !$$<24


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Crefer to visit

malls

>riend


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Time spent on

visiting

malls

Hour (B hrs #ore than ) hours

-o. of

$espondents %L&

/L 2/L )/L

-o. of

$espondents %in

no.&

(/ 2 (2

Interpretation

"ut of 2/ respondents 2 respondents spend appro!.(B hrs in a mall.

"ut of 2/ respondents (2 respondents spend appro!.more than ) hrs in mall.

"ut of 2/ respondents (/ respondents spend appro!. less than (hrs. In mall.

;4e*tio" 'o 5

Doe* the per*o" )ith )ho #o4 vi*it !$$ i"f$4e"ce #o4<

Cerson who influence Res -o

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-o. of $espondents %L& */L 1/L

-o. of $espondents %in

no.&

/ )/

Interpretation

Humans are social being, different person has different perception and attitude, so they

purchase according to their own need like.

;4e*tio" 'o =

Do #o4 vi*it the !$$6 b# !,verti*i"+ i"f$4e"ce<

dvertisement Res -o


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influence

-o. of

$espondents

%L&

*/L *L (1L /L

-o. of

$espondents

%in no.&

/ ( ? (/

Interpretation

"ut 2/ respondentsFB

/ respondents responded that they come to know things through advertisement.

( respondents responded that they are not affected by advertisement.

/? respondents responded that sometime yes and sometime they don’t know.

;4e*tio" 'o >

h# ,o #o4 choo*e !$$ for *hoppi"+<

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4hoosing

malls for

shopping

+ess

time

=conomical 3rands Kariety 8uality ll

under

one

roof

4onvenient

-o. of

$espondents

%L&

(*L *L 1L ?L (*L 1L ?L

-o. of

$espondents

%in no.&

' ( () * ' ) *

Interpretation

? re*po",e"t* *!i, $e** tie6 %2 re*po",e"t* *!i, it* eco"oic!$6 %3re*po",e"t* *!i, the# +et br!",*

;4e*tio" 'o ?

Do #o4 +o for 4"p$!""e, @*pot P4rch!*e*A *hoppi"+ P4rch!*e*<

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I"terpret!tio"

"ut of 2/ respondents

2*L respondents made unplanned purchases.

)L respondents said they don’t make unplanned purchases.

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:nplanned

purchases or spot

purchases

Res -o 4an’t say

-o. of

$espondents %L&

2*L )L (*L

-o. of

$espondents %in

numbers&

' (1 '


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(*L respondents said that they were not sure

;4e*tio" 'o

hich of the fo$$o)i"+ e,i! #o4 fi", the !,* of !"# *hoppi"+ !$$<

#ode of

advertisement

-ewspaper T.K $adio Hoardings "thers

-o. of

$espondents

%L&

)/L 2/L (/L ?L L

-o. of

$espondents%in numbers&

(2 2 2 * (

Interpretation

"ut of 2/ respondents

)/L respondents get aware through -ewspaper.

2L respondents get aware of the ads through T.K.

(/L respondents get aware through $adio channels.

?L respondents get aware through hoardings.

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0I9IT/TIO'S

Tie co"*tr!i"t

The allotted time to conduct the survey was (2 days. Therefore it became a bit difficult

to cover the entire city of Cune. However, the key areas were aptly covered.

/v!i$!bi$it# of ,!t!:

#ost of the restaurants and eating joints were not in favor of us conducting the survey

inside their premises as it would disturb their customers. S-onBwillingness of the

respondents to answer the 0uestionnaire was also a hurdle.

(e$i!bi$it# of ,!t!:-

$eliability of data always remains a prime concern when humans are surveyed. #onB

interest, poor understanding, unclear 0uestions, inability to think instantly and customer

biases creeps in apprehensiveness in the minds of the researcher while tabulating and

analyzing the data.

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CO'C0USIO'

4onsumer’s behavior is often studied because certain decisions are significantlyaffected by their behavior or e!pected actions. >or this reason consumer behavior is

said to be applied discipline.

(. In a general sense, the most important reason for studying consumer behavior is

the significant role it plays in our lives. #uch of our time is spent directly in the

market place, eating or engaging in other activities. large amount of additional

time is spent thinking about products and services, talking to friends about them,

and seeing or hearing advertisements about them. In addition, the goods peopleeat and the manner in which they use them significantly influence how they live

their daily lives. These general concerns alone are enough to justify our study of

consumer behavior. However, many seek to understand the behavior of

consumers for what are thought to be more immediate and tangible reasons.

. The main reason behind this project was to find out the behavior of the consumer

buying behavior while shopping at mall because most of the population surveyedpreferred to shop at malls and how day by day the consumers demands are

increasing and through this project I came to know that what are the various

behavior of a typical customer who shops at mall.

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(ECO99E'D/TIO'S

4ustomers are becoming price conscious they are having many options in the marketconsidering the consumer buying behavior the malls and other shopping centers should

take certain definite steps like retaining customers by giving those schemes discounts

and better service.

The trend today has been to combine shopping with various offerings for e! in a mall

apart from shopping a customer enjoys food courts and many others services which

today’s modem malls provide.


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customers is the crowed at the cash counter. The life of today’s generation has become

very fast. They don’t want to wait in a 0ueue for a longer period. Thus we must provide

more cash counters in our mall.

"ne advantage is that there is only one mall in the city that is magnum mall others arethe department stores.


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/""e14re

P8uestionnaire on 4onsumer shopping behavior in 3I 3U$Q

Hi..NN Clease spare some time to fill in this survey. The survey is voluntary and will helpus to gather more information to make our project.

(. o you visit mallE

a. Res b. -o

. Jith whom you prefer to visit mallsE

a. >riends b. spouse c. 4olleague d. lone

). How much time do you usually spend in a mallE

a. Hour b. (B hours c. #ore than ) hours

*. oes the person with whom you visit mall influence youE

a. Res b. -o

2. o you visit the mall, by advertisement influenceE

a. Res b. -o c.


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'. Jhich of the following media you find the ads of any shopping mallE

a. -ews b. T.K. c. $adio d. Hoardings

?. How fre0uently do you visit mallE

a. Jeekly b. #onthly c. "ccasionally

5. o you stick to a particular brandE

a. Res b. -o c. 4an’t say

(/. Jhy you opt for a particular mallE

a. 8uality b. ood products c. ppliances

d. Oewwellary e. 4osmetics f. Health 6 oral care

g. :tensils h. rocery i. Toy 6 ifts

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(). >eed back


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