Big Bazaar

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Big Bazaar
Type Public company
Industry Retailing
Founded 2001
Headquarters Mumbai, Maharashtra, India
Products Hypermarket
Revenue INR110 billion (US$1.8 billion) crores (in 2012) (Big Bazaar and Food Bazaar combined)
Employees ~ 36000 people[1]
Parent Future Group
Divisions ~ 214

Big Bazaar is the largest hypermarket chain in India.[2]

Strategy[edit]

3-C Theory[edit]

According to Kishore Biyani's 3-C theory, Change and Confidence among the population is leading to rise in Consumption, through better employment and income.[3] Big Bazaar has divided India into three segments:

  • India one: The Consuming class which includes upper middle and lower middle class (14% of India's population).
  • India two: The Serving class which includes people like drivers, household helps, office persons, liftmen, and washermen (55% of India's population) and
  • India three: The Struggling class (31% of India's population).

Schemes and innovations[edit]

Wednesday Bazaar[edit]

The concept of Wednesday Bazaar was promoted as 'Hafte Ka Sabse Sasta Din' (Cheapest Day of the Week). Initiated in January 2007, the idea behind this scheme was to draw customers to stores on Wednesdays, the day when consumer presence is usually less. According to the chain, the aim of the concept was 'to give home makers the power to save the most'.[4]

Maha Bachat[edit]

The concept of 'Maha Bachat' (Mega Saving) was introduced in the year 2006 as a single day campaign with promotional offers across the company outlets. Over the years, the concept has grown to become a six-day biannual campaign. During the campaign, offers are given in all the value formats including Big Bazaar, Food Bazaar, Electronic Bazaar, Furniture Bazaar, Fashion bazaar.[5]

The Great Exchange Offer[edit]

Introduced on 12 February 2009, 'The Great Exchange Offer' allows customers to exchange their old goods for Big Bazaar coupons. The coupons can be redeemed later for buying brand new goods from Big Bazaar outlets across the nation.[6]

Advertising campaigns and marketing initiatives[edit]

[edit]

On the occasion of completion of ten (10) years in the Indian retail industry (in 2011) Big Bazaar came up with a new logo for the company with a tag line that says: 'Naye India Ka Bazaar' (Market for New India). This replaces the earlier tag line: 'Isse Sasta Aur accha Kahin Nahin' (Nothing is Cheaper and good than Here).

Advertising initiatives[edit]

Big Bazaar has launched a promotion drive covering the three prime media, television, print and social media, to mark the launch of the new logo. The media campaign was developed by Mudra Communications.[7]

Big Bazaar timeline[edit]

2001
2002
  • ICICI Bank Card is launched.
  • Food Bazaar becomes part of Big Bazaar with the launch of the first store in Mumbai at High Street Phoenix
2003
  • Enters Tier II cities with the launch of the store in Nagpur
  • Welcomes its 10 millionth customer at its new store in Gurgaon
2004
  • Wins its first award and national recognition. Big Bazaar and Food Bazaar awarded the country’s most admired retailer award in value retailing and food retailing segment at the India Retail Forum
  • A day before Diwali, the store at Lower Parel becomes the first to touch Rs 10 million turnover on a single day
2005
  • Implementation of SAP and pilots a RFID project at its central warehouse in Tarapur
  • Launch of a shopping program: the Big Bazaar Exchange Offer, inviting customers to exchange household junk at Big Bazaar
  • Electronic Bazaar and Furniture Bazaar are launched
  • Big Bazaar and ICICI Bank launched ICICI Bank-Big Bazaar Gold credit card program to reward its loyal customers.
2006
  • Mohan Jadhav set a national record at Big Bazaar Sangli with a Rs 137,367 shopping bill. The Sangli farmer becomes Big Bazaar’s largest ever customer.
  • Launches Shakti, India’s first credit card program tailored for housewives
  • Navaras – the jewellery store launched within Big Bazaar stores
2007
  • The 50th Big Bazaar store is launched in Kanpur
  • Partners with Futurebazaar.com to launch India's most popular shopping portal
  • Initiates the "Power of One" campaign to help raise funds for the Save The Children India Fund.
  • Pantaloon Retail wins the International Retailer of the Year at US-based National Retail Federation convention in New York and Emerging Retailer of the Year award at the World Retail Congress held in Barcelona.
2008
  • New section, Fashion@Big Bazaar, starts
  • Voted among the top ten service brands in the country in the latest Pitch-IMRB international survey
  • Initiates the Mega Saving "Monthly Bachat Bazaar" campaign, to provide deals on groceries and food items during the first week of every month.
2009
  • Opens its second store in Assam at Tinsukia
  • Initiates Maha Annasantarpane program at its stores in South India – an initiative to offer meals to visitors and support local social organizations
  • Mahendra Singh Dhoni and Asin, youth icons of India, were chosen as the brand ambassadors of Big Bazaar
  • Announced the launch of 'The Great Exchange Offer'
  • Formed a joint venture with Hidesign to launch Holii, a new brand of handbags, laptop bags and other accessories.
2010
  • Future Value Retail Limited is formed as a subsidiary to spearhead the group’s value retail business through Big Bazaar, Food Bazaar and other formats.
  • Wins CNBC Awaaz Consumer Awards for the third consecutive year. Adjudged the Most Preferred Multi Brand Food & Beverage Chain, Most Preferred Multi Brand Retail Outlet and Most Preferred Multi Brand One Stop Shop
  • Opens its third store in Kanpur at Z Square Mall
  • Vidya Balan was chosen as the brand ambassador of Big Bazaar's Price Challenge exercise
  • Ranked six among the Top 50 Service Brands in India.[9]
2011
  • Enters the rural wholesale and distribution business through 'Aadhaar Wholesale' store at Kalol, Gujarat.
  • Big Bazaar has come up a new logo with a new tag line: 'Naye India Ka Bazaar'.[10]
  • 200th store opened in India[11]
  • Future Group launched Foodhall – a premium food destination across 10 metros in India[12]
  • Entered into an agreement with Hindustan Unilever to co-develop and co-brand bakery products, which would be sold exclusively at Big Bazaar stores.[13]
2012
2013
  • Started Bigbazaar Direct a franchisee program. [1]

References[edit]

  1. ^ "Future Group trims workforce". Times of India. 21 February 2012. Retrieved 24 February 2012. 
  2. ^ "Big Bazaar Review". textilefabricgarment.com. Retrieved 25 August 2013. 
  3. ^ "SP Jain Institute of Management & Research, Mumbai". SPJIMR. 4 August 2006. Retrieved 15 February 2012. 
  4. ^ "Wednesday Bazaar, The Hindu". Chennai, India. 6 December 2006. 
  5. ^ "Maha Bachat, Money Control". 
  6. ^ "Big Bazaar presents "The Great Exchange Offer", Money Control". 
  7. ^ "Big Bazaar April Utsav, MillionLuck". Chennai, India. 18 April 2013. 
  8. ^ "Three Big Bazaar stores launched within a span of 22 days, pantaloon retail". 
  9. ^ "Top 50 Service Brands". The Economic Times. 31 August 2011. Retrieved 23 February 2012. 
  10. ^ "Big Bazaar goes for new logo,tag line on 10th yr of operations - Economic Times". Articles.economictimes.indiatimes.com. 17 November 2011. Retrieved 15 February 2012. 
  11. ^ "Future Group milestones has transformed the Indian retail landscape". Futuregroup.in. 7 March 2011. Retrieved 15 February 2012. 
  12. ^ "Future Group opens food hall chain". Deccanherald.com. 22 May 2011. Retrieved 17 February 2012. 
  13. ^ "Hindustan Unilever, Future Group to co-brand bakery products, items to be sold at select Big Bazaar stores". The Economic Times. 22 August 2011. Retrieved 23 February 2012. 
  14. ^ "Cognizant bags 5 year multi-million dollar IT outsourcing deal from Future Group - Economic Times". Economictimes.indiatimes.com. 22 August 2011. Retrieved 15 February 2012. 
  15. ^ "Future Group partners Disney to launch cookies". The Economic Times. 10 February 2012. Retrieved 23 February 2012. 

Further reading[edit]

  • Kishore Biyani, Dipayan Baishya (2007): It happened in India: The story of Pantaloons, Big Bazaar, Central and the great Indian consumer
  • Swati Bhalla, Anuraag S, Visual Merchandising - Page 91
  • Pradeep S. Mehta, CUTS Centre for Competition, Investment & Economic Regulation (Jaipur, India) – (2006) - Preview, A functional competition policy for India
  • Rajan Saxena, Marketing Management 4E – Page 140
  • John Pearce, John Pearce 10E – Page 144
  • Rajesh Ray, Supply Chain Management for Retailing – Page 89
  • Janat Shah, Supply Chain Management: Text and Cases – Page 163
  • Swati Bhalla, Anurag Singal, Visual Merchandising – Page 91
  • Netscribes - Retail Market in India 2012, Consumer Goods

External links[edit]