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“STUDY ON VARIOUS FORMATS OF RETAIL STORE IN
CHENNAI”
REKHA PRASAD
BATCH –(2011-2013)
MASTER OF FASHION MANAGEMENT
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DEPARTMENT OF FASHION MANAGEMENT STUDIES
NATIONAL INSTITUTE OF FASHION TECHNOLOGY
(CHENNAI CENTRE)
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DECLARATION
I, Rekha hereby declare that the Project entitled “Study on various formats of retail
store in chennai” submitted towards, partial fulfilment of the Degree of Master Of
Fashion Management is my original work and no part of the project has been copied
from any other reports or any other work carried by someone else which has been
submitted for any other degree/award. However, any other material taken from any
other published source has been suitably referred and acknowledged at various places.
Name: Rekha
Roll number:
MFM/II/1858
Batch: 2011-13
Centre: Chennai
Date: 19/12/11
Place: Chennai
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CERTIFICATE FROM GUIDE REGARDING COMPLETION
OF WORK
This is to certify that the project entitled “STUDY ON VARIOUS FORMATS OF
RETAIL STORE IN CHENNAI” submitted towards the partial fulfilment of the
degree of Master Of Fashion Management by Rekha is her original work under my
guidance and the results are based on the research done by her.
________________
Mrs. Malar
selvi
(Asst. Professor)
PLACE : Chennai
DATE : 19/12/2011
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ACKNOWLEDGEMENT
I am grateful to NIFT for providing me an opportunity to do research work on
“STUDY ON THE VARIOUS FORMATS OF RETAIL STORE IN CHENNAI”. I
express my whole hearted thanks to my guide Mrs. Malar Selvi for her
encouragement and moral support in organizing my work and giving me valuable tipsfor making it presentable.
I am also thankful to Anshul Pachori, my brother for providing me the details of
conducting the research from its inception and for his advice in collecting data and
other relevant information.
I am appreciative of ___________________ who allowed me to get access to the
library and for motivating me to finish the study on time.
NAME: Rekha
ADDRESS: NIFT Hostel, Chennai
Master Of Fashion Management
Date of submission: 19/12/11
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TABLE OF CONTENTS
CHAPTER
NUMBER
TITLE PAGE NUMBER
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EXECUTIVE SUMMARY
Retailing is a distribution channel function where one organization buys products fromsupplying firms or manufactures the product themselves, and then sells these directly
to consumers. An effective store format or store type gives you the basis for delivering
a specific offer to a customer type. You can then build your retail planning on all the
processes needed to organise the format. Retail vision can help you define your store
formats based on your customer types, your store locations and sizes. The country’s
dynamic retail landscape presents a grand opportunity to investors within the country
and from across the globe, to use India as a strategic business and consumer hub.
With the changing face of retail, the Indian consumer industry is in for radical growth.
Let us begin with a primer on the various formats that retail outlets come in. This report
on the Retail Industry in India gives a comprehensive overview of the Retail Sector,
growth, opportunities and how the Retail Industry is adapting to the economic
downturn. The report talks about the various retail formats that are present and are
emerging in the Retail Industry in India and the various strategies adopted by the big
retail companies in India. This report on the Retail Industry in India gives a
comprehensive overview of the Retail Sector, growth, opportunities and how the Retail
Industry is adapting to the economic downturn. The report talks about the various retail
formats that are present and are emerging in the Retail Industry in India and the various
strategies adopted by the big retail companies in India. It also touches upon the entry of
International Retail Players into the Indian Retail Market and the forays of organized
retail into rural areas.
Variety in retailing, few explicit models describe retail format determination as an
equilibrating market mechanism. Our model describes the determination of one aspect
of retail formats (namely, the extent of one-stop shopping). Our hope is that similar
approaches can be used to describe other aspects and types of emergent retail formats.
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We estimate our model using U.S. aggregate annual data for a 26-year period, and later
corroborate parts of the analysis using cross-sectional data for the 48 contiguous states
of the U.S. The equilibrium conditions of our model translate into a system of two
equations with two endogenous variables. Estimates of the reduced form parameters
provide our central empirical finding—that per capita disposable income has had a
significant positive effect on both supermarket assortment (as expected from our
model) and store operating costs (perhaps somewhat less expected). This suggests that
greater prevalence of one-stop shopping has been a response to growing demand for
time-saving convenience.
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RESEARCH METHODOLOGY :-
Research Methodology is the way to systematicall solve the research problem.
Research methodology just does not deal with research methods but also
considers the logic behind the methods. It may be understood as the science of
studding how research is done scientifically and systematically.
RESEARCH OBJECTIVET :-
The retail industry growing in India and outside of the country categorized in different
formats, The country’s dynamic retail landscape presents a grand opportunity to
investors within the country and from across the globe, to use India as a strategic
business and consumer hub. With the changing face of retail. Chennai's acted as an
incubator for the Indian retail industry, with the city witnessing pioneering initiatives in
the retail industry, be it consumer durables, general provisions or books. So, here in
Chennai also most of the retail stores coming into the picture must be following into
certain formats the various formats available in Chennai will be
observed.
Primary research –
Visit the store and observe the various formats available in Chennai will be observed.
Secondary research -
Books
Magazines
Journals
Internet
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LETRETURE REVIEW :-
Retailing is a distribution channel function where one organization buys products from
supplying firms or manufactures the product themselves, and then sells these directly to
consumers.An effective store format or store type gives you the basis for delivering a
specific offer to a customer type. You can then build your retail planning on all the
processes needed to organise the format. Retail vision can help you define your store
formats based on your customer types, your store locations and sizes. We match your
customer to the store.
ARTICLE :-
Innovative retail formats in India.
Khadi Plazas, a successful retail project rolled out by the Khadi and Village Industries
Commission, under the government of India. These swish and ritzy outlets showcase
the exquisite designs and patterns of the traditional handloom and handicraft products,
manufactured in the Indian villages, in a trendy and chic package to catch the attentionof the young Indians with changing lifestyles and attitudes.
By:- MarkStephen , International Retail forums.
The impact of scalability of store formats
Scalability is the most critical factor in retail formats, this gives retail organisation
flexibility to reach out to the critical mass in different geographical areas through an
adaptable mix.
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By :- Gibson G. Vedamani, retail management
Evolution of retail formats
Retail business is the largest private industry in the world generating sales of
approximately USD 6.6 trillion. Traditional retail stores are evolving into modern
formats such as shopping malls. Along with a change in the business formats, there is
also a drastic change in the customer expectations, making them choosier, and more
demanding.
BY: IMAGES RETAIL MAGAZINE
A Model of Retail Formats Based on Consumers' Economizing on
Shopping Time
The key endogenous parameter of our model describes the number of categories carried by
a store. In the context of grocery retailing, this parameter can distinguish between a single-
category specialty store, a simple grocer, a supermarket, and a large superstore. This
parameter is determined by the interplay of consumers economizing on shopping time and
retail competition in the presence of technological constraints which relate operating cost
with assortment size.
By : Paul R. Messinger and Chakravarti Narasimhan
Changing the Face of Retail Industry in India
The country’s dynamic retail landscape presents a grand opportunity to investors
within the country and from across the globe, to use India as a strategic business and
consumer hub. With the changing face of retail, the Indian consumer industry is in for
radical growth. Let us begin with a primer on the various formats that retail outlets
come in. This report on the Retail Industry in India gives a comprehensive overview of
the Retail Sector, growth, opportunities and how the Retail Industry is adapting to the
economic downturn. The report talks about the various retail formats that are present
and are emerging in the Retail Industry in India and the various strategies adopted by
the big retail companies in India.
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BY : Indian Retail Report
MEANING OF RETAIL FORMATS -
Retailing is a distribution channel function where one organization buys products from
supplying firms or manufactures the product themselves, and then sells these directly to
consumers
The format, together with range, pricing and marketing, is one of the key determinants
of a retailer's success. Of these, the format is very often the hardest to get right. A good
format will both draw in customers , generating footfall and help present products well
to generate sales.
Because the format is so important, growth investors can often benefit by identifying
smaller retailers who have recently developed formats that are good enough to provide
a platform for sustained growth.
RETAIL FORMAT IN INDIA -
India is in the throes of a retail revolution that is leading the New World Order and
taking everyone by surprise. The country’s dynamic retail landscape presents a grand
opportunity to investors within the country and from across the globe, to use India as a
strategic business and consumer hub. With the changing face of retail, the Indian
consumer industry is in for radical growth. Let us begin with a primer on the various
formats that retail outlets come in. A ‘Vibrant Economy’, India topped A T Kearney’s
list of emerging markets for retail investments for three consecutive years and stood
2nd only behind Vietnam this year. The 2nd fastest growing economy in the world, the
3rd largest economy in terms of GDP in the next 5 years and the 4th largest economy in
PPP terms after USA, China & Japan, India is rated among the top 10 FDI destinations.
Over the last few years Indian retail has witnessed rapid transformation in many areas
of the business by setting scalable and profitable retail models across categories. Indian
consumers are rapidly evolving and accepting modern retail formats. There is strongemergence of India specific retail formats irrespective of the size. For example,
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hypermarkets, supermarkets or convenience stores that are emerging in India today are
specifically designed for the Indian consumer. New and indigenised formats such as
departmental stores, hypermarkets, supermarkets, specialty and convenience stores, and
malls, multiplexes and fun zones are fast dotting the retail landscape. Following are the
kinds of retail formats found in India.
This report on the Retail Industry in India gives a comprehensive overview of the Retail
Sector, growth, opportunities and how the Retail Industry is adapting to the economic
downturn. The report talks about the various retail formats that are present and are
emerging in the Retail Industry in India and the various strategies adopted by the big
retail companies in India. It also touches upon the entry of International Retail Players
into the Indian Retail Market and the forays of organized retail into rural areas.
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DEVELOPMENT OF RETAIL FORMATS-
It is difficult to fit a successful internet format directly and expect a similar
performance in India. The lesson from multinational expanding to new geographical
point to this. for example Walmart is a success full in USA but story is different in
Asian country like china. Therefore it is important for retailer to look at local condition
and inside into the local buying behavior before shaping the format choice. Considering
the diversity in term of taste and preference existing in India the retail may go for
experiment to identifying the winning formats suited to different geographical and
segment. For example the taste is different from the taste of north and this is bring
challenges to the retailers. Now a no. of retailer are in mode of experimentation and try
to several format which are essentially representation of retailing concept to fit into
consumer mind space. Apart from geography even rural and urban divide poses
different kind of challenge to the retailers.
Over the last few years Indian retail has witnessed rapid transformation in many areas
of the business by setting scalable and profitable retail models across categories. Indian
consumers are rapidly evolving and accepting modern retail formats. There is strong
emergence of India specific retail formats irrespective of the size. For example,
hypermarkets, supermarkets or convenience stores that are emerging in India today are
specifically designed for the Indian consumer.
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TYPES OF REATAIL FORMTS –
Store format- their positioning and differentiation – create a distinct image of the store
among its customers. These formats are defined in term of location, layout, size,design, merchandising, service experience offerings. etc.
Store formats by ownership
Store formats by merchandising categories
Store formats by size
Store formats by price :-
Store formats by ownership :-
Chain store format –
• Two or more outlets under common ownership .
• Commonality in terms of BUYING , MANAGEMENT, MERCHANDISE ,
AMBIENCE ,ADVERTISING , PROMOTIONS.
• Very high bargaining power with supplier.
Franchise format –
• Contractual agreement between franchiser and franchisee which allows the
franchisee to conduct business under an established name as per a particular
business format in return for a fee or a compensation .
• Such type of ownership enriches the Franchiser as the Franchisee are
entrepreneur who bring their business skills to grow the business of Franchisers.
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• Ineffective / Bad Franchisee may harm the reputation of the Franchiser
• Such a system does not allow Territorial exclusivity
3) Independent store format –
• Owns and operate only one retail outlet.
• Managed by owner / proprietor and a few other family members ( Generation
shops)
• One to one rapport with customer
• Limited bargaining power with supplier
• Local baniya / Kirana store / paanwala Also termed as Shop-in Shop
4) Leased department store –
• A section of a space is leased to an outside party
• Retailer expands its product offering to the customers
• Perfumes / cosmetic counters in department stores
• The owner of leased department is responsible for all aspects of its business and
normally pays a percentage of sales as rent .
• The store sets operating restrictions for the leased department to ensure overall
consistency and coordination .
Store formats by merchandising categories :-
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Convenience store format –
• a retail store is located in a catchment area of its target customers who can
quickly access it and choose from a wide array of consumable products and
services, it is known as the convenience store format
• Food oriented store open for long hours, parking for a few vehicles.
• Convenience merchandising such as beverages, ready to eat, snack, grocery
type items, confectionery etc.
• The store size is relatively larger than kirana and provides better customer
service in terms of ambience ,packaging , presentation and quality.
• Prices are not as competitive as other formats like supermarket but certainly
competitive than the Kirana stores.
• According to FMI : A small local store selling mostly grocery , open until late
at night or even 24 hours a day and is abbreviated as c store.
• HP Speed mart, In and Out The store size is 3000-8000 sq ft
Specialty store –
• Retail merchandise narrow in product lines but with a good depth within that
area, specializing in a giving type of merchandise.
• A retail store specializing in a particular type of merchandise or single product
line with deep assortments in that product line
• Such business model is characterized by high level of customer service or
product information
• Concentrate on apparel , jewellery ,drugs, fabrics , sporting goods , Car /
Scooters , furniture etc.
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• 8000 sq.ft.
• Reliance Trends ,Reliance footprints ,Reliance Digital,Reliance wellness ,
Proline fitness centre , Croma , Kings electronics , Health and Glow ,
Crossword,Car dealers.
Department store –
• A store within several department – apparel, cosmetics and fragrances,
accessories, home ware etectronics etc.. under one roof within each section
within the store functioning as a strategic business unit (SBU)
• Product mix is largely non food like apparel , accessories ,books , music ,
footwear .
• 20000- 40000 sq. ft.
• Target customers are not price conscious
• Ambience / VM plays important role.
• National brands as well private labels
• Merchandise return policy and loyalty programs
• Anchors in a shopping mall
• They help in attracting high traffic
• 30% conversion rates
• Atleast 50 employees
• 50000- 100000 SKU’s
• Shopper’s Stop , Pantaloon , Lifestyle , Westside , Globus
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Supermarket –
• A store that is departmentalized, specializing in foodstuff , grocery and ration
and limited non-food categories with free access display for customers so that
they can pick products from the shelves
• Stores offering food and groceries and limited range of general merchandise i.e.
health and beauty aids , gift items .
• Large stores ,low cost , low margin , high vol
• 85% food and grocery items
• Impulse buying
• 8000-20000 sq ft
• more than 30000 SKU
• Nigiris , Foodworld, Subhiksa , Food Bazar , Spencers, Spinach ,more ,
Reliance fresh
Store formats by size :-
Superstore –
• A single level large store selling food and non-food goods is known as a
superstore.
• The expanded supermarket with merged drug stores / general merchandise but
still dominated by food and grocery item
• 30,000-50,000 sq.f0t
• 20-25% general merchandise
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• A super store is generally twice the size of supermarket and offersc non-
tradition goods and services like a pharmacy, flower shop, book store, salad bar,
bakery etc. under one roof.(nilgiris)
Shopping mall –
• It is an arrangement of retail store and places for leisure activities such as
dining, entertainment, food court etc. selected according to their contribution to
an overall merchandising plan.
• A mall is spread over a large area of more than 200000 sft and run as an
integrated business by an
individual or an organization.
• covered premises with ample parking for cars.
• Malls are meant to serve as 'Shopping Destinations' for the entire family. They
house a wide assortment of retailers such as supermarkets and hypermarkets;
EBOs and Department Stores.
Hypermarket –
• Derived from the French word Hypermarche which is a combination of a
supermarket and a department store .
• Also termed as supercentres.
• Carrefour started first hypermarket in 1963
• A store with 80000-2,20000 sqft. with at least 35% of selling space devoted to
non grocery product like clothes , jewellery , hardware , sports equipment ,
books , CD’S /DVD’S , Video’s , TV , electric equipments .
• It has a wide variety of merchandise offering in large quantities in each
category selling huge volumes at low margins.
• One stop shopping
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• Big Bazaar , Star India Bazaar , Hypercity , vishal megamart, Spencers
Store formats by price :-
Discount store format –
• Retails merchandise at 25% or more below MRP.
• They purchase stock, lots from manufactures overrun , irregular like cut sizes in
apparel, unsold end of season merchandise etc. and retail them at discount
prices.
Category killer format –
It is alarge specialty store featuring an enormous selection of its product category that
relatively low prices.
Factory outlet format –
• It is owned and operated by the manufacturer selling discontinued merchandise,
factory seconds, cancelled orders, etc. at very low prices.
• It is located in the vicinity of the factory itself.
Warehouse format –
• It is a large sales of discounted merchandise by an individual or an organisation
in the free-access ambience of a warehouse. this format has a large width and
depth in the many categories it retails.
• A limited-service merchant wholesaler that sells appliances, household items,
and groceries on a cash-and-carry basis to members, usually small businesses
and groups.
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• Metro cash and carry , Shoprite
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Retail buzz on rise in the chennai
CHENNAI faces a shortage of quality retail space with good signage but still attracts
high-powered brands and national retailers.
Information technology has been the driving factor for the increase in real estate
activity.
In the commercial sector, more than 11 million sq.ft of A-grade space is being added in
the next two years. Two malls under construction will add about eight lakh sq.ft of
retail space in the city. The existing malls in Chennai are reporting high footfalls due to
congestion in prime shopping areas such as Pondy Bazaar and Purasawakkam.
More malls: Three malls-cum-multiplexes would come up along East Coast Road
(ECR), which has evolved as a prime entertainment destination of Chennai. Three malls
are likely to come up along the Old Mahabalipuram Road (OMR), which has potential
for retail and residential space due to increased IT activities.
Other than these, in the developing residential areas such as Velachery, Mogappair an
Korattur, three to four malls are likely to come up. Other potential areas for retail
development are along GST road and the Bangalore Highway.
By early 2011, Chennai is likely to have at least 12 to 15 malls with multiplex catering
not only to high-end segment but also to other middle-income groups, the study said.
Retail areas: Retail activity in Chennai is primarily concentrated in and around Nungambakkam, Cathedral Road and T Nagar. Some other prominent retail areas are
Anna Nagar, Adyar, Besant Nagar, Purasawakkam and Mylapore.
The majority of the silk and jewellery retail is in T Nagar. Most of the new brands put
T Nagar at the top for showroom space, though lately the area has become too
congested and there is no quality space available for new players. According to the
study, the rental rates in Pondy Bazaar are between Rs 50 and Rs 70 per sq.ft, North
Usman Road Rs 30 - 60 per sq.ft and G.N. Chetty Road Rs 30-45 sq.ft.
High rates: On Nungambakkam High Road besides branded stores such as Reebok,
Samsonite and Land Mark, Ispahani Centre with 54,000 sq.ft has a mix of retail andoffice space. The most recent entry on this road is Marks & Spencer.
Residential areas like Alwarpet, Cathedral Road and RK Salai are fast developing into
up-market retail destinations.
The rentals on TTK Road are between Rs 30 and Rs 50 per sq ft and on CP
Ramaswamy Road between Rs 25 and Rs 40 per sq ft. The rentals on RK Salai are
between Rs 65 and Rs 75 per sq ft while rates on Cathedral Road Rs 60 - Rs 80 per sq
ft. Levi Strauss is planning four exclusive Signature showrooms in the city.
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More demand: Second Avenue in Anna Nagar is buzzing with high street retail
activity. Space is becoming scarce and demand increasing. This location serves the
western part of the city and has a price range between Rs 65 and Rs 70 per sq ft.
Besant Nagar is also growing in retail activity on the Second Avenue.
The Spencer Plaza, which started with a built up area of 3,00,000 sq ft, has now
become the mega mall of city with 1.05 million sq ft. The pricing has gone up from Rs
18 to Rs 22 per sq ft per month in 1991 to the current Rs 60-100 per sq ft per month.
RETAIL FORMATS AVAILABLE IN CHENNAI
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KIRANA STORE
It is located in near residential area.
Target Customer : Lower class
PRODUCT LINE -
Daily uses product
Beverages
Candy
Stationery
Ciggrarretes
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It is a convenience store.
Bharat Petroleum has launched its convenience retailing initiative under the "In&Out
Convenience Store" brand.
Located : Venkatanarayana Road,
CIT Nagar, Chennai,
Target customer : Lower-Middle class
PRODUCT MIX-
• Beverages
• Candy
• Cigretteshealth & beauty care
• Paper and stationery
• Snacks etc.
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Lifestyle as departmental store.
Lifestyle International pvt. Ltd. is a part of the prestigious USD 3.8 billion
Landmark
Group (Dubai).
It opened its first Lifestyle store in India, Chennai in 1999.
Location : express avenue mall
Royapetta, chennai
Retail space : 72000 sq.ft
Target customer : Upper- Middle class
PRODUCT LINE -
• Apparel
Men
Women
• Footwear
• Children’s Wear & Toys
• Furniture & Home Furnishings Furniture Living
• personal grooming
• Accessories
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Big bazaar is a hypermarket chain of development store in India.
Location: Arcot Road
Saligramam, chennai
Retail Space : 80000- 100000 sq.ft
Target customer: middle or upper-middle class customers.
PRODUCT MIX -
Apparels-
• Men’s wear
• Women;s wear
• Kid’s wear
• Fabrics & Cuts
• Under Garments
Accessories
Food product
Farm product
Chill station
Home & personal care
Electronics products
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Location : Spencer Plaza
Anna salai, Chennai
Target customer : ‘‘value for money, but high on fashion'' and target middle-
class
PRODUCT MIX -
• Men’s wear - Koutons and Charlie Outlaw.
• Women wear - Les Femme
• Kids wear - Kids Junior
• Footwear - KZone2 . The production for this has been outsourced in order
to control costs.
• Its brands are positioned as ‘‘value for money, but high on fashion'' and target
middle-class consumers.
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Reliance Industries launched its first retail format called Reliance Fresh .
It is supermarket market store
Location : 3rd Avenue, Indira Nagar
Adyar Chennai
Spread over 2,000-5,000 sq ft
RODUCT MIX -
Fruits
Vegetables
Staples,
Groceries,
Fresh juice bars,
FMCG products
Dairy products
Non-vegetarian items.
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Location : 1st main road, Ghandi Nagar
Adyar, chennai Target Customer : Middle – Lower class
PRODUCT MIX
Apparel
Men’s wear
casual wear
formal wear Women’s wear
casual wear
ethnic wear
formal wear
Kid’s wear
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Nalli was established in the year 1928 Chennai
Nalli as a small retail store for silk saree.
Location : Kasturba Tower, city agar
Adyar, Chennai
Retail space : 9000 sq ft
PRODUCT LINE –
Women’s wear
• saris
• kuris
Men’s wear
• shirt
• trousers
Kid’s wear (Girl)
Fabric
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Croma is india’sfirst national,large format specialist retail store.
It offers widest ranges of products and brands of electronic products.
Location : Mount Road
Anna Nagar, Chennai
Retail Space : 8000 sq ft
PRODUCT MIX -
• Computers
• Home entertainment (TV plasma, audio system)
• Communication (cell phone, phone accessoriesetc.)
• Large appliances (Wash Machines, refrigerater ect.)
• Small appliances (kitchen appliances, personal care etc.)
• Gaming (gaming hardware gaming software etc.)
• Imaging (digital camera, camcorders etc.)
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LIMITATIONS OF THE STUDY –
The study has attempted to delve into some of the important issues on “study on the
various formats of retail store in Chennai”. however it is attempted that there are some
limitations in the conduct of this study which are as follow:
The study has been under taken on an all Chennai basis but it was not possible to visit
whole of Chennai for this purpose and study is restricted only to selected area, because
the quantitative information was very difficult to obtain some of the empirical
investigations could not be carried out in detail because of non availability of relevant
information for undergoing those investigation.
Sampling error can also bea possibility
These appearance to be little update information on as a lot of changeshave taken place
but were no incorporated. Most of these are off-shoots of the self imposed restriction
during the process of research in order to keep the research within manageable limits as
time was short.
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BIBOLIOGRAPHY
Websites :
http://WWW.retail.org/research/format/edit/.htm
http://WWW.retailbiz.com
http://retail.yatra.com
http://wikipidiya.com
http://retailimages.com
http://fibre2fashion.com
Books:
Retail Management
Magazines:
Franchisee
Images retail
Journal
Retail review