CUSTOMER SATISFACTION IN RETAIL SECTOR WITH REFERENCE TO EASYDAY & BIG BAZAAR IN AGRA

PROJECT REPORT SUBMITTED FOR THE FULFILMENT OF THE BACHELORS DEGREE IN COMMERCE(HON.)

UNDER THE SUPERVISION OF: MR. TEJ SINGH

SUBMITTED BY: KARAN VERMA 10A006 DAYALBAGH EDUCATIONAL INSTITUTE DEEMED UNIVERSITY DISTANCE EDUCATION PROGRAM DAYALBAGH, ADANBAGH , AGRA

THE INDIAN RETAIL SCENE

With a three year compounded annual growth rate of 46.6%,Retail sector is the fastest growing sector in the Indian economy. Traditional markets are transforming themselves in new formats such as departmental stores,hypermarket,supermarket & speciality stores. By 2014,Organised retailing in India will cross US$37.5 billion mark from the current size of US$21 billion

COUNTDOWN TO INDIAS RETAIL REVOLUTION

The retail industry in India represents 22% of the GDP of India and makes a contribution of 8% of the overall number of jobs created in the country. The unorganized retail sector has 94% presence whereas the organized accounts for merely 6%. Industry has already predicted a trillion dollar market in organised retail sector in India by 2014. India is undergoing a major shake-up as the country is witnessing a retail revolution. The old traditional formats are slowly changing into more complex and bigger formats

EVOLUTION AND TRENDS IN ORGANIZED RETAILING FORMATS AND RETAIL OUTLETS

Hypermarket Supermarket Department store Convenience store Discount store Specialty store Mbos Malls Kirana store

Big Bazaar is a hypermarket is a chain of development store in India. Founded by Kishore Biyani in 2001 Part of future group of companies. Initially three Big Bazaar stores wew launched in Kolkata, Banglore & Hydrabad. Currently 148 Big Bazaar stores in 70 cities. Key categories retailed food, groceries, apparels, furnishing & consumer durables The current retail formats of the Future Group include Big Bazaar, Food Bazaar, Electronic Bazaar and Furniture Bazaar.

3-C Theory

According to Kishore Biyanis 3-C theory, Change and Confidence among the entire population is leading to rise in Consumption, through better employment and income which in turn is creating value to the agricultural products across the country. Big Bazaar has divided India into three segments: India one: Consuming class which includes upper middle and lower middle class (14% of India's population). India two: Serving class which includes people like drivers, household helps, office peons, liftmen, washermen, etc. (55% of India's population) and India three: Struggling class (remaining 31% of India's population). While Big Bazaar is targeted at the population across India one and India two segments, Aadhaar Wholesale is aimed at reaching the population in India three segment With this, Future Group emerged as a retail destination for consumers across all classes in the Indian society.

SCHEMES AND INNOVATIONS

Wednesday Bazaar Sabse Sasta Din Maha Bachat The Great Exchange Offer

BUSINESS OF THE ABOVE STORE

Fashion - pantaloons, Central, Brand Factory, Blue Sky, Top 10, Fashion Station, Big Bazaar, Lee Cooper(JV) General Merchandise - Big Bazaar, Shoe Factory, Navras, Electronics Bazaar, Furniture Bazaar, KB'SFAIR PRICE Electronics E-zone, Electronic Bazaar, STAPLES (JV) Home Improvement - Home Town Furniture - Collection i, Furniture Bazaar, HomeBazaar E-tailing (Online Shopping) -www.futurebazaar.com Books & Music - Depot Leisure & Entertainment - Bowling Company Telecom & IT - Gen M, M Bazaar, M-Port, Converge M, Future Axiom Consumer Durables - Koryo, Sensei, IPAQ Service - E Care, H Care , Design & Service

Easyday is an Indian retail brand that runs chains of consumer retail department stores The brand is wholly owned by Bharti Enterprises Limited Operated by its subsidiary, Bharti Retail Limited, which is headquartered in New Delhi. The technical and management support for the brand is provided by Arkansas, United States based Wal-Mart Stores, Inc, which is the largest retailer in the world First store was opened in Punjab,in April 2008. The number of stores functional is 220 in 110 towns &13 states across three different formats catering to about 76,000 people everyday.

LINES OF BUSINESS OF THE ABOVE

STORE

Great Value: Everyday-use products like flour, staples, cereals, spices, tea, cold beverages, sodas, jams, ketchups, dry fruits, corn flakes, Indian snacks, dish-wash bars, detergents etc. Mainstays: basic home essentials, catering to kitchen & bathroom accessories, bed linen, cushion covers, towels, plastics, lighting solutions, and stationary. Equate: personal care products, including cosmetics, deodorants, bar & liquid soaps, oral & dental care range, nail-cutters, and baby care products George: Western apparel brand Astiva: Ethnic Indian wear, such as such as kurtas, kurtis, salwar kameez, and ready to stitch fabric. Simply Basic: It is a brand designed to cater to everyday wear and clothing needs. Faded Glory: This brand provides footwear.

NEED OF THE STUDY

To know about the future market trends in the organized retail sector in Agra.
To know the system of working of the retail sector. To know about the consumer buying behavior pattern and their loyalty towards Big Bazaar and Easyday.

OBJECTIVES OF THE STUDY

To study about the product and services available of the selected organizations (Big Bazaar and Easyday) in Agra. To study consumers preferences with reference to Big Bazaar and Easyday. To study about consumers satisfaction with reference to their product and services.

SCOPE OF THE STUDY

It will extend to the actual field study of these outlets in Agra. It will give information to prospective customers.

Help us gain independent knowledge about the consumer perception of the outlets identified.
The study can help the companies get additional research information. It facilitates evaluation of brand name and customer satisfaction.

RESEARCH AND METHODOLOGY

DATA COLLECTION Primary Data Self structured Questionnaire was used for collecting primary data. Secondary Data Secondary Data was used by different concerned websites, Journal, Magazines, newspapers and other published materials. Sample Area This study was conducted in Agra. Sampling Technique Convenient sampling was done. Sample Size 50 respondents including both Big Bazaar and Easyday. Statistical Tools The statistical tools were used like percentage and weighted average method to make the study more reliable. Presentation Tools The data is presented through different charts, diagrams and tables like pie charts, bar diagrams etc.

DATA ANALYSIS AND INTERPRETATION

Preferred place to shop No. of custo mers %
50 45 40 35 30 25 20 15 10 5 0 Big Bazaar Easyday Kirana Store Other

Customer Preference

Big Bazaar
Easyday Kiarana Store Others

23
11 12 4

46
22 24 8

Customer Preference

Total

50

Reasons for Customers Preferences

Number % of customer Low Price Quality Range Nearby 16 32
Reasons for Customer Preference 40 35 30 25

18 10 4

36 2 8

20 15 10 5 0 Low price Quality Range Nearby Other

Reasons for Customer Preference

Other

Spending on Different Items

Items Number of Customers

%
20
18 16 34 12
Grocery Home Appliance Furniture Apparel Other

Grocery
Home Appliances Furniture Apparel Others

10
9 8 17 6

Promotional schemes of Big Bazaar &

Easyday
Easyd ay
Cash discount Lucky draw scheme Free gift scheme Financing facilities Guarante e/ Warranty

% 30 20

Big Bazaar %
35 40 70 80

90 80 70 60 50 40 30 20 10 0 Warranty Easyday Big Bazaar

15 10

11 28 19

22 56 38

39 22 31

78 44 62

Cash Discount Lucky Draw Scheme

Free Gift Scheme

Financing Guarantee/Waraante Facility

Utility of Big Bazaar & Easyday

80

Utility Aspects
A place to shop A place to socialise

Agre Neutra Disagre e e l 70 2 20 22 10 76

Ran k I IV

70 60 50 40 30 20 10 Agree Neutral Disagree

A place to enjoy
A place to experienc e

38
16

32
54

30
30

II
III

0 A place to shop A place to A place to enjoy A place to socialize experience

Level of Customer Satisfaction

Factors Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfi ed Rank

Pricing policy Product quality Service quality Staff knowledge Ambience

20 28 36 16 30

24 18 40 30 32

32 16 24 28 16

16 18 0 18 14

8 20 0 8 8

I VII II VI V

Ease of shopping
Overall shopping

44 26

26 30

10 24

0 20

20 8

III IV

CONT.

Overall Shopping Ease of Shopping Ambience Staff Knowledge Service Quality Product Quality Pricing Policy 0 20 40 60 80 100 120 Highly Satisfied Satisfied Neutral Dissatisfied Highly Dissatisfied

FINDINGS

60% customers prefer to purchase from organized retail outlets as compare to unorganized retail outlets. During the study it comes to know that customers spend 40% 50% of their monthly budget at organized retail outlets. Organized retail outlets provide better quality, product range as compare to unorganized retail outlets. Future the market share of unorganized retail will reduce 60% - 80%, because Customers shifting from unorganized retail outlets because Customers shifting from unorganized retail outlets to organized retail outlets. During study it is observed that these organized retail outlets attracting the middle & upper class customers, the lower class person still prefer to purchase from the local Kirana Stores. The findings of the study conclude that 80% of the customers are youngsters aged between 16-25 and among them more males from the urban sector Easyday &Big Bazaar.

SUGGESTIONS

The organized retail outlets should improve the quality of Vegetables & fruits they provide to customers. The organized retail outlets should provide the free home delivery facility. The organized retail outlets should increase the no. of billing counters in their outlets. In order to attract the rural sector customers, Easyday & Big Bazaar may extend their advertisements offering special sale promotion schemes to the rural areas. The customers are dissatisfied with the Pricing policies at the Easyday Therefore, they should concentrate on developing these aspects properly, besides extending more cash discount and free gifts schemes to attract the customers at a higher level should also provide the credit facility to the lower class customers so that they can increase their market share. Big Bazaar should focus on quality, discount and attractive display of products, as these are very important factors considered by the customers while making purchase decisions.

LIMITATIONS
Due to the constraints of time, the study was confined to two stores in Agra city. The sample was taken on the basis of convenience; therefore the shortcomings of the convenience sampling may also be present in this study. The sample size chosen for the purpose was only indicative and not exhaustive owing to time constraints People were hesitant to disclose the true facts. The chance of biased response cant be eliminated though all necessary steps were taken to avoid the same.

THANK YOU