Questinnare

“Comparative Study on Profitability Drivers of Indian Retail Industry and their
formats” and “challenges to unorganized retails in the current scenario”.

Submitted to: Mrs. Ambika Rathi

INDEX
CONTENTS PAGE NO
Acknowledgement 4

Preface 5

Executive Summary 6

Today’s Retail in India 7-8

Key Points of Indian Organised Retail Industry 9

Formats in Indian Organized Retail Sector 10

Top Major Retail Players in India 11

Objectives of the Study 12

2

PHASE-I

Scope of the Study 14

Research Methodology 15 - 16

Limitations of the Study 17

Research problem and its relevance 18

Name of the Stores 19

Vishal Mega Mart 20 - 30

Big Bazaar 31 - 40

Lifestyle 41 - 48

Comparative analysis of the Stores 49 - 56

PHASE-II

Great India Place 58 - 61

3

ACKNOWLEDGEMENT

First of all we would like to thank Mrs. Ambika Rathi (Faculty
Member) for giving us the opportunity to do the project on
comparative study on “Indian organised Retail Industry and their

4

formats” and “threats to unorganized retails in the current scenario in
India.” Her extended views on the Indian Retail Industry help us with
assistance, support and council without, which this project would not
have been materialized.

We would also like to express our special thanks to all the Staffs of the
Vishal Mega Mart, Big Bazaar, Life Style and Pantaloon Retails and
also the various owners of Kirana Stores for their excellent support
and co-ordination without which this study could not be fulfilled.

Thanks

GROUP-8
H-SECTION.
Asia Pacific Institute of Management Studies.

PREFACE

We are lucky that, we got the opportunity for making the project
report on “Comparative Study on Profitability Drivers of Indian Retail

5

Industry and their formats” and “challenges to unorganized retails in
the current scenario”. For this study we visited the Malls, Hyper
Markets and Departmental Stores and in New Delhi and Noida and talk
to various unorganized retailers (Kirana stores) to study the problems
defined. This report is written account of what we learnt and
experienced during the survey. We wish, those going through it will
not only find it readable but also get as useful Information. The main
limitation of our experience was that as the above said organised
retails industry is reserved with corporate formalities, we had faced a
little bit difficulties to fill the questionnaire completely.

Executive Summary

6

Retailing is emerging as a sunrise industry in India and its presently
the largest employer after agriculture. In the year 2004, the size of
Indian organized retail industry was Rs 28,000 Crores, which was only
3% of the total retailing market.

The sunrise of the organised retailers in India creates a major turn in
the retail industry. Top major organised retail players are increasing
their market share day by day. Their main focus is based on FMCG
and consumer durables. With modernization, Indian culture is aping
the western dressing sense and lifestyle and these techniques is
promoting by the Retailers and by this they are generating a
remarkable revenue from the Indian consumers.

7

Today’s Retail in India
Comprised of organized and traditional retail formats, Indian Retail
market is estimated to be worth US$ 511 billion, and is poised to grow
to US$ 833 billion by 2013. The organised retail that currently
accounts for less than 5 per cent of the total retail market is expected
to register a compound annual growth rate (CAGR) of 40 per cent and
swell to US$ 107 billion by 2013.

A report by global consultancy firm, AT Kearney said "The consumer
spending in India has increased by an impressive 75 per cent in the
last four years and will quadruple in the next 20 years." Moreover,
India recently topped the Nielsen Global Consumer Confidence study,
conducted by Nielsen, a market research company. The biannual
report revealed that Indians are "the most optimistic lot globally who
think that their country will be out of the economic recession in the
next twelve months."

However the size of Organised Retail in India will exceed US$22bn
mark from current level of about US$4bn with its space requirement
touching over 220mn sq. ft., by 2010, according to The Associated
Chambers of Commerce and Industry of India (ASSOCHAM). In a
Paper brought out by ASSOCHAM on `Retail Scenario in India and Its
Related Issues’, it has been stated that approx. 40mn sq. ft. is
currently generating a business of about US$4bn in organized retail.

India’s vast middle-class and its almost untapped retail industry are
key attractions for global retail giants wanting to enter newer markets
and India provides for the ideal locations. Since, Delhi and its suburbs
have so far seen the growth of 100 bigger and smaller malls, roughly
600 new malls are coming up in other metropolis and large townships
in which less than 35% of retail business is going to be transacted.

It is seen that over 1000 malls are in the pipelines for smaller
townships in which the retail sector is projected to grow at over 60%
because of ample availability of land and increased purchasing power
of the folks living in those areas because of increased economic
activities. Naturally, the large players will prefer to go there and put
up their shops by sourcing their supplies from the places convenient

8

to them.

Some of the key areas in which retail boom will prevail in towns
beyond metros and even large cities will include food items, FMCG
products, grocery, sportswear, outerwear, tailored clothing, eyewear,
watches, footwear and accessories and the like. The retail business
that will pre-dominantly stay with malls put up in metros and large
cities will include apparel, pharmaceuticals, luxury goods and
consumer durables.

Changes should be brought about in Agricultural Produce Marketing
Committee (APMC) Act (a key contributor to the large number of
intermediaries) such as the introduction of contract farming and
allowing direct procurement from farmers by retail owners so that a
direct chain is established between the user and farmers for their
equal benefits. It also highlights, pointing out that even in the case of
non-agricultural products such as apparel, FMCG and general
merchandise, the situation is far from ideal.

The key cause for inefficiency is the poor integration between the
retailer and supplier. None of the retailers, in view of ASSOCHAM has
so far an automated system for information exchange with their
suppliers. In developed countries, retailers practice Vendor
Management Inventory (VMI) systems, where the supplier has access
to the point of sales data of the retailer and plans automatic
replenishments responding to the stocks available at the retailer.

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Key Points of Indian Organised Retail
Industry
1. Potential to be the third largest economy in terms of GDP in next few
years .

2. It ranks high amongst the top 10 FDI destinations of the world .

3. Fastest growing tourist market in Asia.

4. World bank states, India to be worlds second largest economy after
China by the year 2050.

5. Stable and investor friendly Central Government at the helm of
affairs.

6. Introduction of Value Added Tax or VAT and tax reforms.

7. High degree of professionalism and corporate ethics.

8. Excellent Investment opportunities in Indian retail sector and in allied
sectors; sure and high returns on investments.

9. To invest US $130 billion for the development of infrastructure, by
year 2010.

10. Bullish stock markets.

11. Hordes of foreign investors are thronging in to invest in Indian retail
markets.

12. Highly educated English speaking young workforce.

13. Vibrant and multi cultured cities.

14. Huge opportunity exists, especially in semi-rural and rural areas.

15. Till date the second largest employer after agriculture sector, for the
huge semi-skilled Indian population.

16. Offers highest shop density in the whole world.

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17. Having almost 1,20,000 shops, across the length and breadth of the
country.

Formats in Indian Organized Retail
Sector

1. Supermarkets: A supermarket, also called a grocery store is a
self-service store offering a wide variety of food and household
merchandise, organized into departments. It is larger in size and has
a wider selection than a traditional grocery store and it is smaller than
a hypermarket or superstore.

2. Hypermarkets: A hypermarket is a superstore which combines a
supermarket and a department store. The result is a very large retail
facility which carries an enormous range of products under one roof,
including full lines of groceries and general merchandise. In theory,
hypermarkets allow customers to satisfy all their routine weekly
shopping needs in one trip.

3. Department Stores: A department store is a retail establishment
which specializes in satisfying a wide range of the consumer's personal
and residential durable goods product needs; and at the same time
offering the consumer a choice multiple merchandise lines, at variable
price points, in all product categories. Department stores usually sell
products including apparel, furniture, appliances, electronics, and
additionally select other lines of products such as paint, hardware,
toiletries, cosmetics, photographic equipment, jewelery, toys, and
sporting goods. Certain department stores are further classified as
discount department stores. Discount department stores commonly
have central customer checkout areas, generally in the front area of
the store. Department stores are usually part of a retail chain of many
stores situated around a country or several countries.

4. Shopping malls: A shopping mall or shopping centre is a building
or set of buildings which contain retail units, with interconnecting
walkways enabling visitors to easily walk from unit to unit.

11

5. Specialty Chains: A Specialty Chains is numbers stores which are
specialized in a specific range of merchandise and related items. Most
stores have an extensive width and depth of stock in the item that
they specify in and provide high levels of service and expertise. They
differ from department stores and supermarkets which carry a wide
range of merchandise.

TOP MAJOR RETAIL PLAYERS

Total Retail
No.of
Retailer Existing formats Brand Names Space
Stores
(‘000 sq ft)

Department store Pantaloon 13 1,948
Pantaloon
Retail Indian Hypermarket Big Bazaar 450 5000
Ltd
Seamless Malls Central 12 1200

Hyper markets Spencer’s 400 6000

RPG Retail Music Stores Music world 225 230

books Stores Books and Beyonds

Department stores Shopper’s Stop 20 1000
Shopper’s Books & Music
Crosswords 33 N/A
Stop Ltd. Stores
Home furnishing Home Stop N/A N/A

Landmark
Group (Based Department Stores Lifestyle 8 370
in Dubai)

Department Stores West side 19 350

12

Hypermarkets Star India Bazaar 1 N/A
Trent India
Ltd Books & Music
Land Mark 4 N/A
Stores
Vishal Group Hyper markets Vishal Mega Mart 183 13,45

OBJECTIVES OF THE STUDY

Phase-I

This project is based on the comparative study of Indian Retail
Industry on the basis of three parameters:

(a) Customer Flows.
(b)Revenue per Customer.
(c) Stock of the Store.

Objective:
Know the customer flow and revenue generated by the stock from the
each department in the organised retail sector within a closer view.

PHASE-II

Determine various shops and classify them into the Retail formats.

Objective:
Know the retail formats and what are the difference between those
categories.

13

PHASE-III
Analyze the threats and challenges to unorganized retailers in the
current scenario of competitive market.

Objective:
Understand the sector of unorganized retails, find out the challenges
faced by them and determine what are the measures taken by these
retailers to survive in this current scenario.

PHASE-I

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SCOPE OF THE STUDY

The scope of my study restricts itself to analyze the organised
retailer’s profitability drivers on the basis of Garments, Gifts, Cards
and Music Department where as in the recent trend its seen that the
key players in this Industry are more emphasizing on the Garments,
Personal Grooming, Home furnishings, Life style and Footwear
Departments in their Stores.

15

RESEARCH METHODOLOGY

This chapter describes the methodology of the study. This project is
based on information collected from primary sources. After the
detailed study, an attempt has been made to present comprehensive
analysis of four major organised retailers. The data had been used to
cover various aspects like inter-departmental customer flows, revenue
per customer and value of the stock in the various departments. In
collecting requisite data and information regarding the topic selected,
we went to the Vishal Mega Mart, Life Style, and Big Bazaar of New
Delhi and Noida and collected the data.

Research design:
The study is based on descriptive research design because the data
were collected to reveal accurate descriptions of variables related to
the decisions being faced, without demonstrating that some

16

relationship exists between variables. For the purpose of present
study a related sample of stores were selected on the basis of
convenience.

Sample Size and Design:
A sample of 4 stores was taken on the basis of convenience.

Research Period:
Research work is only carried for 1 week.

Research Instrument:
This work is carried out through self-administered questionnaires. The
questions included were close ended with Ordinal-polytomous
response scale.

Data Collection:
The data, which is collected for the purpose of study, is divided into 2
bases:

 Primary Source: The primary data comprises information
survey of “Comparative Study on Profitability Drivers of
India’s Retail Industry”. The data has been collected directly
from respondent with the help of structured questionnaires.

17

 Secondary Source: The secondary data was collected from
internet and references from Library and various journals on
retail industry.

Data Analysis:
The data is analyzed on the basis of suitable tables by using
mathematical techniques. The technique that we have used is bar
graphs, pie charts, with MS-EXCEL and SPSS.

LIMITATIONS OF THE STUDY

In attempt to make this project authentic and reliable, every possible
aspect of the topic was kept in mind. Nevertheless, despite of fact
constraints were at play during the formulation of this project. The
main limitations are as follows:

 Due to limitation of time only few retail stores are taken into
consideration of this study. So the sample of retailers was not
enough to generalize the findings of the study.

 The main source of data for the study was primary data with the
help of self-administered questionnaires. Hence, the chances of
unbiased information are less.

 Concern person from the organised retail stores were hesitant to
disclose the true facts as the data related to strategic secrets.

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 The chance of biased response can’t be eliminated though all
necessary steps were taken to avoid the same.

RESEARCH PROBLEM AND ITS
RELEVANCE

RESEARCH PROBLEM:
Determine the profitability drivers on the basis of:

(a) Customer flows.
(b) Revenue per Customer.
(c) Stocks value of the store.

RELEVANCE OF THE RESEARCH:

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Understand the value of Indian organised retail Industry on the basis
of how customer flow generates the revenue related to its value of
stock and analyze the ways to improve each of three dimensions.

Name of the Stores

The study is being conducted on:

(i) Vishal Mega Mart, Sarita Vihar.

(ii) Big Bazaar, Noida.

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(iii) Lifestyle International, Noida.

(iv) Various unorganized retailers in Delhi.

(v) The Great India Place, Noida.

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VISHAL MEGA MART

What started as a humble one store enterprise in 1986 in Kolkata is
today a conglomerate encompassing 183 showrooms in 110 cities / 24
states. India’s first hyper-market has also been opened for the Indian
consumer by Vishal. Situated in the national capital Delhi this store
boasts of the singe largest collection of goods and commodities sold
under one roof in India.

The group’s philosophy is integration and towards this end has
initiated backward integration in the field of high fashion by setting up
a state of the art manufacturing facility to support its retail endeavors.

Vishal is one of fastest growing retailing groups in India. Its outlets
cater to almost all price ranges. The showrooms have over 70,000
products range which fulfills all your household needs, and can be

22

catered to under one roof. It is covering about 29, 90, 146 sq. ft. in
24 states across India. Each store gives you international quality
goods and prices hard to match. The cost benefits that is derived from
the large central purchase of goods and services is passed on to the
consumer.

There are three classes of consumers the lower class is restricted only
to unorganized retail, upper class consumers are limited and
scattered. According to the Vishal Retailing Strategy, they are
targeting middle class as it is the largest consumer base in India and
can be sold off then in large volumes because with the increasing
purchasing power the middle class is shifting towards organized retail.

The group had a turnover of Rs. 1463.12 million for fiscal 2005, under
the dynamic leadership of Mr.Ram Chandra Agarwal . The group had a
turnover of Rs 2884.43 million for fiscal 2006 and Rs. 6026.53 million
for fiscal 2007.

ANALYSIS OF THE STUDY

Types of Customer:

There are three types of consumer in the Indian retail market. Vishal
mega mart is a firm believer of that the Middle class and upper middle
class are the potential customer in their product categories.

Here we are analyzing which income level of customers are generally
tend to purchase the products department wise:

23

PERCENTAGE OF TYPES OF CUSTOMER DEPARTMENT WISE
GARMENT GIFTS MUSIC CARDS
TYPES OF CUSTOMER SECTION SECTION SECTION SECTION
HIGH GRADE INCOME LEVEL 10 40 60 0
MEDIUM GRADE INCOME
LEVEL 60 50 30 50
AVERAGE GDARE INCOME
LEVEL 30 10 10 50

TYPES OF CUSTOMER

100%

80%

60% AVERAGE GDARE INCOME LEVEL
MEDIUM GRADE INCOME LEVEL
40%
HIGH GRADE INCOME LEVEL
20%

0%
SECTION SECTION SECTION SECTION

From the above details its found that the customer flows in the
garment section is relatively high rather than the other sections. The
focus customer group is basically medium level income group of
customers.

Flow of customers in different departments:

Here we have analyzed the flow of customers per day basis. For this
reason we have studied customer flows on an average of high
customer flow days.

Inter-Department Customer Flow
DEPARTMENT Number of Customer
GARMENTS DEPARTMENT 900
GIFTS DEPARTMENT 250
CARDS DEPARTMENT 100

24

MUSIC DEPARTMENT 300

Inter-department Customer Flow

300
MUSIC DEPARTMENT

100
CARDS DEPARTMENT

250
GIFTS DEPARTMENT

GARMENTS

900
DEPARTMENT

0 100 200 300 400 500 600 700 800 900 1000

Number of Customer

From the above figures its executed that flow of customer in garment
departments is relatively higher than the others departments. To
determine the above study we have considered the customers who
are spending their money on purchase of products of the above said
departments. Its revealed at the time of study that they have 10 cash
counters and they are making bills of more than 280 bills per day per
counter on the above said days.

Value of Stock in the different departments:

We have chosen 4 departments from Vishal Mega Mart and estimated
the valuation of average stock with the assumption details provided by
the branch operation stuffs.

VALUE OF THE STOCK
DEPARTMENT (Rs)

25


Value of the stock in the Garments Departments:

Value of Stock
525000

Garment Deapartment
others department

10340000

The garment section is divided into Men, women and kids section. The
value of the stock in the garments department is relatively much
higher than the others departments. The value of stock in winter
season jumps to 18 to 20 crore and its 3times higher than others
season as normally they are maintaining a stock of 6 crore in the
others time.

Value of the stock of the others departments:

Value of t he St ock in Ot her s Depar t m ent

300000

250000

200000

150000

100000

50000

0
GIFTS DEPARTMENT CARDS DEPARTMENT MUSIC DEPARTMENT 26

The value of the stock of the others departments are relatively lower
than garments departments.
The stock maintained in the gifts section, basically maintained for the
high and medium level income customers.
In the cards department the stock increases at the time of Christmas
an New year eve as it’s a seasonal business according to the Vishal
Mega Mart.
Music department is consisting of Music, movie and game cd & dvd’s.
Its found that the stock of game cd & dvd’s is higher than the others.

Revenue generated by the different departments:

To find out the profitability drivers we have compared the revenue
generated by different departments on the basis of 2004-05 to 2008-
09. For this study we have considered average revenue of a high
customer flow day by the all income level customers.

DEPARTMENT 2004-05 2008-09
GARMENTS DEPARTMENT 50000 180000

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GIFTS DEPARTMENT 5000 10000
CARDS DEPARTMENT 2000 1800
MUSIC DEPARTMENT 1800 5000
TOTAL 58800 196800

REVENUE PER DEPARTMENT

196800
200000 180000

150000

100000 2004-05
58800 2008-09
50000
50000
500010000 2000 1800 1800 5000
0
GARMENTS GIFTS CARDS MUSIC TOTAL
DEPARTMENT DEPARTMENT DEPARTMENT DEPARTMENT

From the above study its revealed that at the time of inception of the
organised retail in India in the year of 2004-05, only the high grade
and upper medium grade income level customers were tends to go to
the retails. So the maximum portion of revenues generated from
these two groups only.

In the case of garments, gifts and music departments as the stock is
increased, the revenue is also increased with the market demand
study of the year of 2004-05 to
2008-09. and also its seen that the product category in the gifts and
music department is relatively changing with the increasing demand of
new innovated products.

A measurable changes found in the cards department is that the
revenues as well as the stock is decreasing day by day because of
changing customer preferences towards information technology
enabled services like SMS, MMS & E-mails.

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FACTS AND FINDINGS

29

From the above analysis its found that the average customers in the
all departments are the Middle Grade income level customers as
Vishal is mainly focusing in this segment of customers.

Garment Department

Overview:
Product lines and the quality of the products in the Garment Section
are basically for the medium and average grade income level people
and price range in this section is averagely lies between Rs.250 to
600.

Findings:
In the garment section we have found that products categories are
not focusing the high grade income level customers as the brand
consciousness not presents in the floors. The high grade income level
people are very conscious about the brand that they are using.
Basically they are very conscious about the brand rather than the
quality which isn’t present in this department.

Suggestions:
Vishal is strategically targeting the middle class customer but there is
also a rash of high grade income level customers in their stores. They
should focus on this aspect that they can turn this mob into potential
customer by introducing a various range of high class products in the
garment department.

Gifts Department

Overview:

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Product lines and the quality of the products in the Gifts Section are
basically for the high and medium grade income level people and price
range in this section is averagely lies between Rs.500 to 800.

Findings:
In the gifts section we have found that stock of gift items is very low
and also products categories are not focusing to low grade income
level customers and the gifts department is referred to high class
products.

Suggestions:
They should focus on this aspect by introducing more stocks and also
a lower price range products in the gifts section so that they can also
generate revenue from lower grade income level customers.

Music Department

Overview:
Music section consist of Music CD’s, Game CD & DVD’s and also Movie
DVD’s. Product lines and the quality of the products in the Music
Section are basically for the high and medium grade income level
people and price range in this section is averagely lies between Rs.150
to 500.

Findings:
In the Music section we have found that they are mainly focusing on
the Game CD’s and DVD’s and also the price range is also high. Again
the collection of game cd and dvd’s is considerable but in the case of
Indian Music CD’s the stock level is not also upto the customer’s
satisfactory level.

Suggestions:
Vishal should concentrate on that the music industry is passing
through a high competitive market with piracy world so the price

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range should be such as the customer feel free to buy original cd’s.
Another point is that there should be a balance between the stock of
their product lines in the music department.

Cards Department

Overview:
In the Indian scenario cards are not very popular and a seasonal
business according to the floor managers and management of the
store. Also the demand is decreasing day by day with the increase of
ITES.

Findings:
In Vishal’s prospect we have found that it’s a seasonal business and
they only give an emphasized focus at the time of Christmas Day and
New Year. Also the high grade income level people tends to go
specialized cards stores so only a few numbers of middle and average
income level customers who come to others departments sometimes
seek for the cards.

Suggestions:
Though the demand of cards decreasing day by day but there are also
some others events rather than the 25th & and 31st eve. So a step can
be taken by introducing low range of cards attached with the gifts
section to greet the wishes all the time.

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Pantaloon Retail (India) Limited, is India’s leading retailer that
operates multiple retail formats in both the value and lifestyle
segment of the Indian consumer marker. Headquartered in Mumbai
(Bombay), the company operates over 8 million square feet of retail
space, has over 475 stores across 40 cities in India and employs over
18,000 people.

The company’s leading formats include Pantaloons, a chain of fashion
outlets, Big Bazaar, a uniquely Indian hypermarket chain, Food
Bazaar, a supermarket chain, blends the look, touch and feel of Indian
bazaars with aspects of modern retail like choice, convenience and
quality and Central, a chain of seamless destination malls. Some of its
other formats include, Depot, Shoe Factory, Brand Factory, Blue Sky,
Fashion Station, aLL, Top 10, mBazaar and Star and Sitara. The
company also operates an online portal, futurebazaar.com.

A subsidiary company, Home Solutions Retail (India) Limited,
operates Home Town, a large-format home solutions store, selling
home furniture products and E-Zone focused on catering to the
consumer electronics segment.

Pantaloon Retail was recently awarded the International Retailer of the
Year 2007 by the US-based National Retail Federation (NRF) and the
Emerging Market Retailer of the Year 2007 at the World Retail
Congress held in Barcelona.

Pantaloon Retail is the flagship company of Future Group, a business
group catering to the entire Indian consumption space.

34


Types of Customer:

In the Indian Retail Scenario Big Bazaar has a great success to create
a revaluation. Basically they have differentiated their customers on
the basis of needs of customers rather than their income level. Later
on we will analyze these aspects. Here we are analyzing which
income level of customers are generally tend to purchase the products
in Big Bazaar department wise:

PERCENTAGE OF CUSTOMER FLOWS DEPARTMENT WISE
TYPES OF CUSTOMER SECTION SECTION SECTION SECTION
HIGH GRADE INCOME LEVEL 10% 15% 50% 7%
MEDIUM GRADE INCOME
LEVEL 50% 55% 40% 53%
AVERAGE GDARE INCOME
LEVEL 40% 30% 10% 40%

TYPES OF CUSTOMER DEPARTMENT WISE

100%

80%

60% AVERAGE GDARE INCOME LEVEL
40%
HIGH GRADE INCOME LEVEL
20%

0%
SECTION SECTION SECTION SECTION

From the above details its found that the in the Garment section they
are targeting the middle and average level of customers. They are not
promoting any major brands and they have their own brand towards

35

the major brands in garments industry. Flow of high level of
customers in music section is better than the others departments.
Generally upper medium and medium class and also a good
percentage of average income level customer visits their all
departments.


customer flow days.


INTER-DEPARTMENT CUSTOMER FLOW

MUSIC DEPARTMENT

CARDS DEPARTMENT

GIFTS DEPARTMENT

GARMENTS DEPARTMENT

0 200 400 600 800 1000 1200 1400 1600

With the study of customer flow in Big Bazaar on an average of high
customer flow day we came to know that it’s basically lies between
2000-2500 customers per day. Here we are taking the customers who
are generating revenues for these departments.

36

From the above figures its executed that flow of customer in garment
departments is relatively higher than the others departments. One
significant difference is noted from the others retail is that they have
placed their music department at the front of cash counters and
introduced low range of music cds’ and game dvd’s for the all category
customers which increased customer the flow in the music
department.


We have chosen 4 departments from Vishal Mega Mart and estimated
the valuation of average stock with the assumption details provided by
the branch operation stuffs.

VALUE OF THE STOCK
DEPARTMENT (Rs)

Value of the stock in the Garments Department:

8230000

163000000

Garment Deapartment others department

37

The garment section is divided into Men, women and kids section.
They have also a discount section only for the garments. In this
section they are selling the old or rejected stocks of major brands at a
40-50 percent discount rate. The value of stock in garment is being
overflowed at the time of winter season. Winter garments are costlier
than the others seasons and tends to double the value of stock.
Normally they are maintain a stock value of 16.3 to 17 crore value of
stock bus it increase at the time winter to more than 40 crore.

Value of the stock of the others departments:

VALUE OF STOCK IN THE OTHERS DEPARTMENTS

7500000

8000000

6000000

4000000
580000
150000
2000000

0
1

GIFT S DEPART MENT CARDS DEPARTMENT MUSIC DEPARTMENT

In some big retails its seen that they are including some cookery,
home furnishings and life style products in their gifts section. Big
bazaar is maintaining a low stock but more product categories in their
gifts section and generating a remarkable revenue from this.
Stock of music department is overflowed with low price products.
Their stock have a potential to earn revenue from all categories as
prices of products in this department lies between Rs. 30 to Rs.400
approximately.

38


To find out the profitability drivers we have compared the revenue
generated by different departments on the basis of 2004-05 to 2008-
09. For this study we have considered average revenue of a high
customer flow day by the all income level customers.

REVENUE PER DEPARTMENT 2004-05 2008-09
GARMENTS DEPARTMENT 90000 300000
GIFTS DEPARTMENT 42000 180000
CARDS DEPARTMENT 2000 1800
MUSIC DEPARTMENT 19000 40000
TOTAL 153000 521800

COMPARI SON OF REVENUE PER DEPARTMENT

600000

500000

400000

300000 2004-05

200000 2008-09

100000

0
GARMENTS GIFTS CARDS MUSIC TOTAL
DEPARTMENT DEPARTMENT DEPARTMENT DEPARTMENT

39

From the above study its revealed that at the time of inception of the
organised retail in India in the year of 2004-05, only the high grade and
upper medium grade income level customers were tends to go to the retails.
So the maximum portion of revenues generated from these two groups only
in the year of 2004-05.

The change in revenue of garment department and in gifts department from
the year 2004-05 to 2008-09 is significant because Big Bazaar is shifted
products towards the own manufactured brands and they became successful
to establish their own brands in the garment retail industry.
A measurable changes found in the cards department is that the revenues as
well as the stock is decreasing day by day because of changing customer
preferences towards information technology enabled services like SMS, MMS
& E-mails.

FACTS AND FINDINGS
all departments are the all income level people in Big Bazaar.
Meanwhile their main customer base is upper middle, middle and
average level income level customers.

Garment Department

Overview:
In Garment department the products are mainly their own brands an
price ranges lies between Rs.99 to Rs.800 averagely which is very
reasonable for the middle class,
average and also low level income group peoples. The stock in this
section is fair to satisfy its customer needs and attracts window
shoppers to become a potential customer.

Findings:
The main facts that we have found in the garment section is that Big
Bazaar mainly focusing on the low range of products with their own
brands. All the times they are giving special discounts on all the
garments products. They have adopted tricks like “Buy 2 get 3”, Buy
3 get 5” which looks like as if you buy 2 will get more 3 but the actual

40

fact is that if you buy 2 products will get 1 free as total you will get 3.
It’s a very strategic and attractive offer specially adopted by Big
Bazaar. They have also a section named ‘LOOT MART’ in the garments
department. In this section they are selling the branded high-class
garments at a high discount rate of 50 to 60 percent.

Suggestions:
After discussing all the profit factors it can be suggest that as they
have a good high income level customer flow in the others
departments like in the furniture and grocery department they can
introduce a wider range of branded products in the garment section as
this income is conscious about the brand that they are using.

Gifts Department

Overview:
Gifts department is consisting of various product categories from
home furnishing products to personal using products. According to Big
Bazaar now a days no one can define which section should be referred
as a gifts section. Customer preference is changing day by day with
the increased product categories.

Findings:
In Big Bazaar we have found that they are also referring home
furnishing products, personal care and low range electronic products
as gift products and basically it depends on the customers need and
choice. The whole gift section is able to satisfy the all level of income
groups as they have a large collection of product categories but with a
limited stock of same products. A noted strategy is taken in the gifts
department is that they are selling a large varieties of products with a
limited stock which helps them to implement a good stock turn over
ratio and generating good revenue from this department.

Suggestions:
Big Bazaar can focus on the stocks of the gifts though the stock of
varieties is remarkable but within the same category the stock is not
appreciatable.

41

Music Department

Overview:
Music section consist of Music CD’s, Game CD & DVD’s and also Movie
DVD’s.

Findings:
Big Bazaar has introduced very low range cd & dvd’s like ‘Moserbaer’
music and movie cd-dvd’s and price range lies in between Rs.30 to
100. Basically they are gaining a competitive business at the age of
piracy products in this industry. Also they have a very good collection
in games cd-dvd category at a low price range of Rs.100 to 200
whereas if anyone go to the open market the average price range is
Rs.300 to 400 for the copyright product.

Suggestions:
In the music its found that the collection of movie cd’s and educational
cd’s is low than the music and games cds. They are emphasizing on
the low price mp3 and game cds where as there is also a demand for
educational and movies cd-dvd’s.

Cards Department

Overview:
In the Indian scenario cards are not very popular and a seasonal
business according to the floor managers and management of the
store. Also the demand is decreasing day by day with the increase of
information technology enable services.

Findings:
We have found that it’s a seasonal business and they only give focus
at the time of Christmas Day and New Year. Also the high grade
income level people tends to go specialized cards stores so only a few
numbers of middle and average income level customers who come to
others departments sometimes seek for the cards.

42

Suggestions:
Though the demand of cards decreasing day by day but there are also
some others events rather than the 25th & and 31st eve. So a step can
be taken by introducing low range of cards attached with the gifts
section to greet the wishes all the time.

43

LIFESTYLE

Lifestyle International (P) Ltd is part of the Landmark Group, a
Dubai – based retail chain. With over 30 years’ experience in retailing,
the Group has become one of the foremost retailers in the Gulf.

Positioned as a trendy, youthful and vibrant brand that offers
customers a wide variety of merchandise at an exceptional value for
money, Lifestyle India began operations in 1999 with its first store in
Chennai.

Currently there are 14 Lifestyle stores, 7 Home Centre stores and 1
Baby Shop store across Ahmedabad, Bangalore, Chennai, Hyderabad,
Jaipur, Mumbai, Pune, New Delhi, Noida and Gurgaon.

Today Lifestyle offers a truly international shopping experience, a fact
borne by numerous accolades.

44

Business World – IMRB Most Respected Company Awards survey rated
Lifestyle as the ‘Most Respected Company in the Retail Sector’ in 2003
and 2004

• ‘ICICI – KSA Technopak Award for Retail Excellence’ in 2005
• Reid & Taylor ‘Retailer of the Year’ award in 2006
• Lycra Images Fashion Award for the ‘Most Admired Large
Format Retailer of the Year’ in 2006

Images Retail ‘Most Admired Retailer of the Year – Department Store’
in 2008.


Types of Customer:
Lifestyle International is a major player in the Indian organised retail
industry. The have a good customer base in the high class level
income group. Mainly they focusing on the Men-Women-Kids Apparel,
gifts and also in the home furnishing products. They don’t have any
music, cards or cookery departments.

TYPES OF TARGET CUSTOMER
HIGH GRADE INCOME LEVEL 75%

MEDIUM GRADE INCOME LEVEL 20%
CUSTOMER FLOWS DEPARTMENT WI SE
AVERAGE GDARE INCOME LEVEL 5%

100%

80%
AVERAGE GDARE INCOME LEVEL
60%
40% HIGH GRADE INCOME LEVEL

20%
45
0%
GARMENT SECTION GIFTS SECTION

From the above analysis its revealed that though a very few numbers
of low grade income level customers are visiting the garment section
but in the gifts section we have found that the products are
unreachable for the average level income groups.


customer flow days.


Inter-department Customer Flow
600

GIFTS DEPARTMENT

GARMENTS
1100

DEPARTMENT

0 200 400 600 800 1000 1200

Number of Customer

46

In lifestyle we have found that the average customer flow lies
between 1200 to 1500 on an average high customer flow day.

The main products categories in Lifestyle basically the garments and
home furnishing products related to gifts items. We have found that
in the case of garments department customer flow is 1100 per day
basis and in the case of gifts departments its 500 to 600 per day
basis. Its noted that the gifts department consists of exclusive
products.


VALUE OF THE STOCK
DEPARTMENT (Rs)

VALUE OF STOCK

50500000

760000000

GARMENTS DEPARTMENT GIFTS DEPARTMENT

47

The garment section is divided into Men, women and kids section as
well as lifestyle accessories and shoe wears. They have all the major
brands like Blackberry, Louis Phillips, Lee Coopers, Van Hausen, Parx,
Lee for in the men catagory, Melanga, Code, Ginger in the women
category and for the kids section they have brands like Bossini,
Benetton, Orchestra, Juniors, Teeny Tiny, Artex etc.

The garments section includes:
1. Watch section for the brands like Fast track, Zodiac, Hugo-boss,
Nautica, Marie Claire, Casio, Guess, GC, Kenneth Cole, Aspen,
Skagen, Levi’s, Adidas etc.

2. Sunglass section for the brands like Ferrari, Mojo, Mont blanc,
Scott,, Guess etc.

3. Fashion accessories for the brands like Tribal Zone, Sarah, Fire
Fly, Adrika, Earrings, Necklace, Bracelet, Anklet, Bangles, Hair
Clips, Bra Straps, Scrunges, Men’s Jewelry, Kids’ Fashion.

All these product ranges are exclusively for the High grade income
level customers.

The gifts section is consisting of high class home furnishings and
personal grooming products. They are introducing it by the name of
“Home Centre”. It’s a one-stop destination for furniture, home ware
and home furnishings that enterprises elegance, luxury and
individuality. Home Centre houses a wide range of contemporary and
classic furniture, linen as well as other home accessories, thus
providing customers a high range products.


REVENUE PER DEPARTMENT In 2008-09(Rs.)
TOTAL 5000000

48

Revenue in 2008-09 Department

5000000

4000000

3000000

2000000

1000000

0
GARMENTS GIFTS TOTAL
DEPARTMENT DEPARTMENT

The average revenue earned per customer basis is more Rs.6000. Comparison of revenue
generated by the each departments is taken into consideration on an average of high
customer flow days.

FACTS AND FINDINGS
all departments are basically high grade income level customers. All
the products ranges in the both departments significantly refers to
premium customers.

Garment Department

Overview:
In Garment department the products are mainly the major
international readymade brands and price ranges lies between Rs.800
to Rs.2000 averagely which is meant for a few Indians customers.

Findings:
The products exclusively for a certain income level customers.
Maximum products are unreachable for the medium and average
income level peoples. Whatever the stock is quite efficient to satisfy
their potential customers.

49

Suggestions:
They are focusing a very few Indian customers and the most of the
Indian consumers can’t afford this price ranges. So if they want to
increase their market share in the Indian retail Industry they should
introduce such product ranges also which can be affordable for the
medium level income groups and the main customer in the retail
industry lies within it.

Gifts Department

Overview:
Gifts department is consisting of various product categories from
home furnishing products to personal grooming products.

Findings:
In the Lifestyle we have found a wider range of glass made and metal
products which are exclusive and also the quality isn’t upto the price
levels. Whatever, the stock is sufficient to satisfy its customers but
the price range is found very high as a gift product in this department.

Suggestions:
Again the Indian retail industry is targeting the medium level income
group people as its increasing day by day but the products in the
Lifestyle store is meant only for the high class consumers which is
very low in population in India. Also an important point is noted that
though the volume is sufficient but the varieties in product categories
as a gift isn’t sufficient.

50

COMPARITIVE ANALYSIS OF THE
STORES

On the basis of customer flows:

We have considered the average of the high customer flow days.
Flow of Customer per Day
Store Name No. of Customer
Vishal Mega Mart 1600
Cust om er Flow per Day
Life Style 1200
2500
Big Bazaar 2300

2000

Number of 1500
Customer 1000

500

0
Vishal Mega Mart Life Style Big Bazaar No. of Customer
51
Name of the Store

Vishal Mega Mart: From the study its revealed that the average
customer flow is medium grade income level customers and average
grade income level customers.

Life Style: The customer flows in this store is basically refers to the
high and upper medium income level customers.

Big Bazaar: They are focusing on the all income level customers but
it depends on the departments wise also.

On the basis of stock value:

Comparison of stock value
Store Name Garments Dept Gifts Dept Cards Dept Music Dept
Vishal Mega Mart 65000000 250000 77500 175000
Life Style 735000000 55000000
Big Bazaar 163000000 7500000 150000 575000

Garments Department:
The value of stock depends on the season. At the time of winter
season it increases upto 2 to Garments than the other seasons as the
3times Dept
price of winter garments is relatively higher than springs-summer
collection.
800000000
700000000
600000000
500000000
400000000 Garments Dept
300000000
200000000
100000000 52
0
Vishal Mega Mart Life Style Big Bazaar

Vishal Mega Mart: The product in the garment section isn’t exclusive
and meant for the medium to average grade income level customers.
Also they aren’t focusing on major brands in the garment industry. All
the products are unbranded and semi branded and don’t attracts the
high grade level income groups. However brand consciousness not
present but the stock volume is able to met customer satisfaction.

Life Style: All the major brand players are maintaining their stocks in
garments section as their main focus is on the Apparel products.
Product ranges is very high and meant for the high class consumers.
A high brand consciousness helping them to generate a remarkable
revenue with a high stock turn over ratio and smiling face of
customers.

Big Bazaar: They have their own brands in the garments department
with a reasonable price for the upper medium, medium and average
class income groups. Though brand conscious people will think at the
time purchasing but customer are satisfied with the stock and as well
as quality related to price.

Gifts Department:
Gifts Dept

60000000

50000000

40000000

30000000 Gifts Dept

20000000

10000000
53
0

Vishal Mega Mart: They are not focusing on the gifts stock for the
result customer flow and revenue from this section is very low and no
point is gaining for the customer satisfactory level.

Life Style: A very large investment in the gifts section is found at the
time of study. They are basically emphasizing on introduction of
personal grooming products and home furnishing products in the gifts
section. This department is solely for the upper class consumers and
customer satisfactory level is remarkable.

Big Bazaar: A wider range of products is found in gifts section for the
all income level people. Though the variety in the product categories
is high but the volume of stock in the same product is low. How ever
customers are happy with the large number of collection of gifts
items.

Cards Department:

Cards Dept

160000
140000
120000
100000
80000 Cards Dept
60000
40000
20000
0

54

Vishal Mega Mart: Stock in this department is taken care as
relatively low and it’s considered as a seasonal business.

Big Bazaar: Stock in this department is taken care as relatively low
and it’s considered as a seasonal business.

Music Department:
Music Dept

600000

500000

400000

300000 Music Dept

200000

100000

0

Vishal Mega Mart: Music department is consisting of music, movies
and games cd-dvd’s. The stock of game cd-dvd’s is higher than the
others and price range is relatively not for the medium and average

55

income groups though they are focusing on this income group only
and a result they failed to satisfy their customer needs.

Big Bazaar: Their music department is also consisting of music,
movies and games cd-dvd’s and they have maintained a good balance
between the stock level in all the categories. And also a remarkable
change is noted that they selling very low range products within this
copyright product categories. They customer satisfaction level is high
with the fulfillment of their needs.

On the basis of revenue:

Comparison of Revenues
Store Name 2004-05(Rs.) 2008-09(Rs.)
Vishal Mega Mart 58500 196800
Life Style ----------- 5000000
Big Bazaar 160500 481500

Comparison of Revenues

5000000

4000000

3000000
2004-05(Rs.)

2000000 2008-09(Rs.)

1000000

0 56

IN 2004-05:
At the time of sunrise of organised retail industry in India, the
scenario was not been like present days. At that time it was a very
new concept of marketing for the Indian consumers. Only the high
class level and a few upper medium class income group customers
were visiting to those retail markets. The perception of middle and
lower class peoples was that these stores had over-valued their
products and to some extent it was right also.

IN 2008-09:
Now a days shopping in the retail stores is a very common things.
Peoples are habituated to go into the retails in the weekends. Day by
day the organised retailers are becoming stronger to attract
customers. Hyper- markets like Vishal mega mart, Big Bazaar, Home
town have the stock to fulfill all the needs of customers from alpine to
elephant.

On the basis of Revenue per customer:
For the study of revenue per customer, we have taken the
contribution of total customer flow on the total revenue of the stores
on an average of high customer flow days.
Revenue per customer basis
Store Name 2004-05(Rs) 2008-09(Rs)
Vishal Mega Mart 450 1350
Life Style 6000
Big Bazaar
Comparison of Revenue per customer 2100
650

6000

5000

4000
2004-05
3000
2008-09
2000

1000
57
0

Vishal Mega Mart: Though the revenue per customer of the Vishal
mega Mart increased from 2004-05 to 2008-09 but the revenue per
customer is significantly low than others. As their main customer base
is medium and average income group customers and also customer
flow is low so it generates significantly low revenue per customer.

Life Style: The customer flows in this store is basically refers to the
high and upper medium income level customers and though their
customer flow is lower but their return on investment is high so it
helps to earn a high income per customer.

Big Bazaar: They are focusing on the all income level customers with
a high customer flows per day and have a base of brand
consciousness amongst the customer which’s helping them to increase
their revenue per customer. Also there is a major contribution of the
others departments like grocery and vegetables department towards
the per customer revenue.

58

ASIA PACIFIC INSTITUTE OF MANAGEMENT STUDIES
(This research is done only for the education purpose. There is no financial/competitive motive.)

Questionnaire (General)

A. Store name:

B. Location of the Store:

(i) Mall (ii) General (iii) Densely populated area

C. Which kind of customers generally visit at your store?

(i) High grade income level

(ii) Medium grade income level

(iii) Average grade income level

59

D. Flow of customer per day in your store:

(i) Below 500 (ii) 500 to 1000 (iii) 1000 to 1500

E. Revenue earned per customer basis:

In 2004-05 Rs. In 2008-09 Rs.

F. In which department stock is being taken care comparatively in a lightly way?

(i) Garments (ii) Gift items (iii) Cards (iv) Music

(v) None of this

If not why you are emphasizing on every segment?
___________________________________________________________________
___________________________________________________________________.

G. Does the brand consciousness of customers divert them to the different
departments ?

Yes No

If yes which type of customer?

Young Old child Beauty conscious people

H. Is the Information Technology helping in ROI of the store?

Yes No

If yes then which features is/are motivating?

60

ERP Online Adv SAP/Tally Information Security

I. Does the good atmosphere in the store pick the sale up?

Yes then why? ________________________________________.

No then why? ________________________________________.


Questionnaire (Garment Department)

A. Which kind of customers generally visit at your garment section and their flow?

(i) High grade income level Flow %

(ii) Medium grade income level Flow %

(iii) Average grade income level Flow %

B. Revenue generated by Garment section in your store

(i) High grade income level: Revenue in 2004-05

61

Revenue in 2008-09

(ii) Medium grade income level: Revenue in 2004-05

Revenue in 2008-09

(iii) Average grade income level: Revenue in 2004-05

Revenue in 2008-09

C. Value of average stock maintained in Garment section: Rs.

D. Is your stock efficient to revamp the Customer satisfaction in your store?

(i) Yes (ii) No

Questionnaire (Gifts Department)

A. Which kind of customers generally visit at your Gift section and their flow?




B. Revenue generated by Gift section in your store


62

Revenue in 2008-09


Revenue in 2008-09


Revenue in 2008-09

C. Value of average stock maintained in Gift section: Rs.


(i) Yes (ii) No


Questionnaire (Music Department)

A. Which kind of customers generally visit at your Music section and their flow?




B. Revenue generated by Music section in your store

63


Revenue in 2008-09


Revenue in 2008-09


Revenue in 2008-09

C. Value of average stock maintained in Music section: Rs.


(i) Yes (ii) No

Questionnaire (Cards Department)

A. Which kind of customers generally visit at your Cards section and their flow?




B. Revenue generated by Cards section in your store

64


Revenue in 2008-09


Revenue in 2008-09


Revenue in 2008-09

C. Value of average stock maintained in Card section: Rs.


(i) Yes (ii) No

Questionnaire filled up by :
Designation :
Age :
Working here for :
Date & Time :
Place :

(Be sure that all the details will be kept in safe and will not be disclosed or used on any
others purpose)

65

Thanking for your valuable time and support.

66

THE GREAT INDIA PLACE

Formats of the stores in the Great India Place:

SRL
NAME OF THE STORE TYPE OF THE STORE
NO
GROUND FLOOR
1 GLOBUS SPECIALITY CHAIN
2 LIFE STYLE DEPARTMENTAL STORE
3 BOSSINI SHOP
4 METRO SHOES SPECIALITY CHAIN
5 WOODLAND SPECIALITY CHAIN
6 TANABANA SHOP

68

7 BOMBEY SELECTION SHOP
8 M & B FOOTWARE SPECIALITY CHAIN
9 NAKSHATRA SPECIALITY CHAIN
10 MARKS & SPENCER DEPARTMENTAL STORE
11 LEVIS FLAGSHOP SPECIALITY CHAIN
12 GIOVANI SHOP
13 SHOPPERS STOP DEPARTMENTAL STORE
14 PANTALOONS DEPARTMENTAL STORE
15 INDIGO NATION SPECIALITY CHAIN
16 LILLIPUT SPECIALITY CHAIN
17 WILLS LIFESTYLE DEPARTMENTAL STORE
18 KAZO SHOP
19 COSTA COFFEE SPECIALITY CHAIN
20 KFC SPECIALITY CHAIN
21 PIZZA HUT SPECIALITY CHAIN
22 ZARDARI SHOP
23 DIMENSION SHOP
24 KILOL SHOP
25 KALPANA SAREES SPECIALITY CHAIN
26 MEENA BAJAR DEPARTMENTAL STORE
27 ZODIAC SPECIALITY CHAIN
28 REEBOK SPECIALITY CHAIN
29 BG's SPECIALITY CHAIN
30 ARCHIES SPECIALITY CHAIN
31 WORLD OF TITAN SPECIALITY CHAIN
32 HOME TOWN HYPER MARKET
33 BIG BAZAAR HYPER MARKET

FIRST FLOOR

34 MONTE CARLO SPECIALITY CHAIN
35 REID & TAYLOR SPECIALITY CHAIN
36 PALL MALL SHOP
37 CAFÉ COFFE DAY SPECIALITY CHAIN
38 RAYMOND SPECIALITY CHAIN
39 SAMSONITE SPECIALITY CHAIN
40 SHOPPERS STOP DEPARTMENTAL STORE
41 VEN HEAUSEN SPECIALITY CHAIN
42 ADIDAS SPECIALITY CHAIN
43 SPYKAR SPECIALITY CHAIN
44 REEBOK SPECIALITY CHAIN
45 LEE SPECIALITY CHAIN
46 NIKE SPECIALITY CHAIN

69

47 GLOBUS SHOP
48 PUMA SPECIALITY CHAIN
49 MOUSTACHE SPECIALITY CHAIN
50 GILI WORLD SPECIALITY CHAIN
51 BLACKBERRY SPECIALITY CHAIN
52 RITU KUMAR SPECIALITY CHAIN
53 HIMALAYA OPTICAL SPECIALITY CHAIN
54 LACOSTE SPECIALITY CHAIN
55 KODAK EXPRESS SPECIALITY CHAIN
2ND FLOOR
56 ME 'n' MOM SPECIALITY CHAIN
57 CASIO SPECIALITY CHAIN
58 CARLTON LONDON SPECIALITY CHAIN
59 KITTEN SHOES SHOP
60 CATMOSS SHOP
61 OCTMOSS SHOP
62 OCTAVE SHOP
63 MAX LIFESTYLE SPECIALITY CHAIN
64 GKB OPTICAL SPECIALITY CHAIN
65 PEPE JEANS LONDON SPECIALITY CHAIN
66 ODYSSEY SPECIALITY CHAIN
67 BOSE SPECIALITY CHAIN
68 STEPPING STONE SPECIALITY CHAIN
69 VIVID SPECIALITY CHAIN
70 ZEST SHOP
71 INDIGO SPECIALITY CHAIN
72 SHAW BROTHERS SHOP
THIRD FLOOR
73 HOOP SHOP
74 BARISTA SPECIALITY CHAIN
75 BOWLING CO SPECIALITY CHAIN
76 YATRA SPECIALITY CHAIN
77 STREET FOOD OF INDIA SPECIALITY CHAIN
78 NIRULA's SHOP
79 TANDOORI VILLAGE SHOP
80 YO CHINA SPECIALITY CHAIN
81 SAGAR RATNA SHOP
82 SANRIO SHOP
83 ICE CURE SHOP
84 BIG CINEMAS SPECIALITY CHAIN
85 MUSIC LAND SPECIALITY CHAIN

70

86 MASAKALI SHOP
87 MY DOLLER STORE SPECIALITY CHAIN
88 JUMBO ELEVTRONIC SHOP
89 STAPLES SPECIALITY CHAIN
90 FIT & ACTIVE GYM SHOP

Group-8
Asia pacific Institute of management
Studies

71

AVISHEK SAHU-H-03 DEBOJIT ROY H-66

KRISHNAKANT PANDEY H-25

BISWAJIT GHOSH H-12 SRITANU DAS MAHAPATRA H-57

72

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