Topic: Summer Internship Report on Customer Service Max Retail
Name of the Organisation: MAX RETAIL
Project Topic: Customer Service Max Retail
Objectives of the study:
- To know about Customer demographics (age, gender, ethnicity, income status, etc.)
- Opinions about products purchased or service received at Max Retail
- Overall satisfaction with a location, product or service at Max Retail
- Recognition of the brand and its marketing efforts
- How well the customer is attended by the Customer Relation Executives at Max Retail?
- Which department is the best/worst in the Max Retail store in this parameter?
- How many customers get the exact product by the CRE’S?
- Are they satisfied shopping at Max Retail?
- What is the best part of their shopping at at Max Retail?
- What needs to be improved in the at Max Retail store according to the customers?
TABLE OF CONTENTS
The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. It accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space.
The Indian retail industry is one of the fastest growing in the world. Retail industry in India is expected to grow to US$ 1.3 trillion by 2020, registering a Compound Annual Growth Rate (CAGR) of 16.7 per cent over 2015-20.
India is the fifth largest preferred retail destination globally. The country is among the highest in the world in terms of per capita retail store availability. India’s retail sector is experiencing exponential growth, with retail development taking place not just in major cities and metros, but also in Tier-II and Tier-III cities. Healthy economic growth, changing demographic profile, increasing disposable incomes, urbanisation, changing consumer tastes and preferences are the other factors driving growth in the organised retail market in India.
India’s population is taking to online retail in a big way. The online retail market is expected to grow from US$ 6 billion to US$ 70 billion during FY15-FY20.
Increasing participation from foreign and private players has given a boost to Indian retail industry. India’s price competitiveness attracts large retail players to use it as a sourcing base. Global retailers such as Walmart, GAP, Tesco and JC Penney are increasing their sourcing from India and are moving from third-party buying offices to establishing their own wholly-owned/wholly-managed sourcing and buying offices.
The Government of India has introduced reforms to attract Foreign Direct Investment (FDI) in retail industry. The government has approved 51 per cent FDI in multi-brand retail and increased FDI limit to 100 per cent (from 51 per cent) in single brand retail.
India’s retail market is expected to nearly double to US$ 1 trillion by 2020 from US$ 600 billion in 2015#, driven by income growth, urbanization and attitudinal shifts. While the overall retail market is expected to grow at 12 per cent per annum, modern trade would expand twice as fast at 20 per cent per annum and traditional trade at 10 per cent#.
India’s Business to Business (B2B) e-commerce market is expected to reach US$ 700 billion by 2020 whereas the Business to Consumer (B2C) e-commerce market is expected to reach US$ 102 billion by 2020.## Online retail is expected to be at par with the physical stores in the next five years.
India is expected to become the world’s fastest growing e-commerce market, driven by robust investment in the sector and rapid increase in the number of internet users. Various agencies have high expectations about growth of Indian e-commerce markets. Indian e-commerce sales are expected to reach US$ 120 billion! By 2020 from US$ 30 billion in FY2016.Further, India’s e-commerce market is expected to reach US$ 220 billion in terms of gross merchandise value (GMV) and 530 million shoppers by 2025, led by faster speeds on reliable telecom networks, faster adoption of online services and better variety as well as convenience.
India’s direct selling industry is expected to reach a size of Rs 23,654 crore (US$ 3.51 billion) by FY2019-20, as per a joint report by India Direct Selling Association (IDSA) and PHD.
The Indian retail trading has received Foreign Direct Investment (FDI) equity inflows totaling US$ 537.61 million during April 2000–March 2016, according to the Department of Industrial Policies and Promotion (DIPP).
With the rising need for consumer goods in different sectors including consumer electronics and home appliances, many companies have invested in the Indian retail space in the past few months.
- International Finance Corporation (IFC), the investment arm of The World Bank, plans to invest up to Rs 134 crore (US$ 19.86 million) in Kishore Biyani’s Future Consumer Enterprises Ltd, which is expected to aid the company in driving its growth plans.
- Amazon India has opened six new fulfillment centres across Chennai, Coimbatore, Delhi, Jaipur and Mumbai, which will open up 5.5 million square feet of storage space for sellers on the marketplace who use the ‘Fulfilled by Amazon’ service.
- IKEA, the world’s largest furniture retailer, plans to invest Rs 10,500 crore (US$ 1.56 billion) to set up 25 stores across India and hire over 15,000 permanent employees and 37,500 temporary employees to assist in running its stores.
- Amazon Inc. has announced that the company would invest an additional US$ 3 billion in India operations, thereby taking its committed investment in the country to over US $ 5 billion.
- Aditya Birla Fashion and Retail Limited (ABFRL) has announced that it will acquire exclusive online and offline rights of Forever 21, an American fast fashion brand, in the Indian market.
- Massimo Dutti, a premium fashion brand from Spain offering sophisticated womenswear, menswear, footwear and accessories, has entered India by opening its first store at the Select Citywalk mall in New Delhi.
- Lenskart, India’s largest online eyewear retailer, has raised Rs 400 crore (US$ 59.3 million) in series D round of funding led by World Bank’s investment arm International Finance Corporation (IFC), which will be used to enhance its technology, supply chain, lens manufacturing, and expand the reach of its high-quality eyewear products across Tier-3 and Tier-4 cities of India.
- Neil Barrett, one of the leading Italian fashion brands, has forayed into the Indian market by establishing its retail presence through an exclusive partnership with Fervour, a multi-brand boutique that stocks international designer brands.
- New York-based designer brand Kate Spade will be launched in India later this year and will set up a network of stand-alone stores across major cities, thus becoming one more global brand entering the Indian retail space after the Government of India relaxed single brand retail norms recently.
- Kart Rocket, a Delhi based e-commerce enabler has completed its US$ 8 million funding round by raising US$ 2 million from a Japanese investor, which will be used to enhance Kraftly, a mobile-first online-to-offline marketplace targeting small sellers, individuals and home-based entrepreneurs in India in product categories such as apparel and accessories.
- Purple TalkInc, a US based mobile solutions company, has invested US$ 1 million in Nukkad Shops, a Hyderabad based uber-local commerce platform that helps neighbourhood retail stores take their businesses online through a mobile app.
- Mumbai-based baby care and kids products e-tailer, Hopscotch.in, has raised US$ 13 million in a Series C round of funding from Facebook co-founder Mr Eduardo Saverin, which will help the firm in growth and expansion of its technology platform.
- Gurgaon-based e-commerce firm Shopclues has raised US$ 150 million from Singapore government’s GIC and its existing investors Tiger Global and Nexus Venture Partners, at a valuation of US$ 1.1 billion, thereby becoming the latest among several e-commerce companies from India reaching a billion dollar valuation.
- Amazon India expanded its logistics footprint three times to more than 2,100 cities and towns in 2015, as Amazon.com invested more than US$ 700 million in its India operations since July 2014.
- Adidas AG, reknowned for its Adidas and Reebok sports brands, has become the first foreign sports company to get government approval to open 100 per cent foreign-owned stores in India.
- Walmart India plans to add 50 more cash-and-carry stores in India over the next four to five years.
- Aeropostale, an American teen fashion retailer, has chosen to enter India over China, and expects India to be among its top three markets over the next four years with revenue target of Rs 500 crore (US$ 74.12 million).
- Opinio, a hyperlocal delivery start-up, has raised US$ 7 million in a Series-A funding from Gurgaon-based e-commerce fulfilment service firm Delhivery along with investment from Sands Capital and Accel Partners.
- Textile major Arvind Limited has announced a partnership with Sephora, owned by LVMH Moet Hennessy Louis Vuitton, a French luxury conglomerate, in order to enter into the beauty and cosmetics segment.
- Mobile wallet company MobiKwik has partnered with Jabong.com to provide mobile payment services to Jabong’s customers.
- DataWind partnered with HomeShop18 to expand its retail footprint in the country. Under the partnership, HomeShop18 and DataWind would jointly launch special sales programmes across broadcast, mobile and internet media to provide greater access to the latter’s tablet range.
- FashionAndYou has opened three distribution hubs in Surat, Mumbai and Bengaluru to accelerate deliveries.
- Abu Dhabi-based Lulu Group plans to invest Rs 2,500 crore (US$ 370.6 million) in a fruit and vegetable processing unit, an integrated meat processing unit, and a modern shopping mall in Hyderabad, Telangana.
- Aditya Birla Retail, a part of the US$ 40 billion Aditya Birla Group and the fourth-largest supermarket retailer in the country, acquired Total hypermarkets owned by Jubilant Retail.
- With an aim to strengthen its advertising segment, Flipkart acquired mobile ad network AdiQuity, which has a history of mobile innovations and valuable experience in the ad space.
- US-based Pizza chain Sbarro plans an almost threefold increase in its store count from the current 17 to 50 over the next two years through multiple business models.
The Government of India has taken various initiatives to improve the retail industry in India.
- Government of India has allowed 100 per cent Foreign Direct Investment (FDI) in online retail of goods and services through the automatic route, thereby providing clarity on the existing businesses of e-commerce companies operating in India.
- The Government of Andhra Pradesh signed pactsworth Rs 1,500 crore (US$ 222.36 million) in a wide range of sectors including retail and steel and gas with Walmart India, Future Group, Arvind Lifestyle Brands Ltd and Spencer’s Retail, during the Partnership Summit in Visakhapatnam, while also unveiling a retail policy aimed to attract retail businesses to invest in the state.
- The Ministry of Urban Development has come out with a Smart National Common Mobility Card (NCMC) model to enable seamless travel by metros and other transport systems across the country, as well as retail purchases.
- IKEA, the world’s largest furniture retailer, bought its first piece of land in India in Hyderabad, the joint capital of Telangana and Andhra Pradesh, for building a retail store. IKEA’s retail outlets have a standard design and each location entails an investment of around Rs 500–600 crore (US$ 74–89 million).
- The Government of India has accepted the changes proposed by RajyaSabha select committee to the bill introducing Goods and Services Tax (GST). Implementation of GST is expected to enable easier movement of goods across the country, thereby improving retail operations for pan-India retailers.
- The Government has approved a proposal to scrap the distinctions among different types of overseas investments by shifting to a single composite limit, which means portfolio investment up to 49 per cent will not require government approval nor will it have to comply with sectoral conditions as long as it does not result in a transfer of ownership and/or control of Indian entities to foreigners. As a result, foreign investments are expected to be increase, especially in the attractive retail sector.
The Road Ahead
E-commerce is expanding steadily in the country. Customers have the ever increasing choice of products at the lowest rates. E-commerce is probably creating the biggest revolution in the retail industry, and this trend would continue in the years to come. Retailers should leverage the digital retail channels (e-commerce), which would enable them to spend less money on real estate while reaching out to more customers in tier-2 and tier-3 cities.
Both organised and unorganised retail companies have to work together to ensure better prospects for the overall retail industry, while generating new benefits for their customers.
Nevertheless, the long-term outlook for the industry is positive, supported by rising incomes, favourable demographics, entry of foreign players, and increasing urbanisation.
Exchange Rate Used: INR 1 = US$ 0.0148 as on July 11, 2016
The study is being conducted for the Max retail stores in Lucknow city, to find out the customer preferences in choosing Max. It is required to find out the preferences based on certain aspects (price, Income, levels selection of products satisfaction level of customers).
The basic purpose of the report is to interact with different people to find their awareness toward the Max retail products and services. Sales department of Max retail is divided in two parts one is general sale and the other is corporate. Max also do many promotional activities of to aware the customer. They do many kinds of events like road shows , organizing events at public places .department also provide many offers to customer like discount offers, membership card etc.
Organized retail is gaining tremendous importance in the recent times. On the other hand, the retail industry is also facing severe competition and those who are able to retain their customers are the ones that are able to succeed in the market place.
The main problem i.e. been faced is that of lack of customer service at max retail and attention given to the walk-in customers.
The retail firms are spending a lot of their marketing resources to keep existing customers rather than to attract new ones. Customer satisfaction plays a key role in customer retention and also is a major differentiating factor among retail stores. Delivering satisfaction to the consumers has become one of the major drivers of profitability.
In this scenario, the firms have to work on what attracts consumers and what will make them not to shift their choice towards competitors. Working out strategies in this direction requires a thorough understanding of the preferences of the consumers on the attributes that are considered of much significance.
This training focuses on analyzing the customer service of the specific attributes of Max retail store in UP, Fun Republic Mall, Lucknow.
The problem was given attention by checking various day to day retail operations and how to make the various products accessible to the customers according to their demand.
- To know about the Indian retail Apparel industry.
- To know about the store operation and store management at Max Retail.
- To know about the customer Service Max retail.
- To know the customer response at Max retail.
- To find the different competitors of Max retail in Lucknow.
Max Retail is a fashion brand offering customers a one stop shop for clothing, accessories and footwear needs for the entire family. Max, a part of $5 billion Dubai based Landmark Group, has pioneered the concept of ‘value fashion’ in India. In 2014 it was India’s fastest growing fashion brand and in terms of size, it contributed one fourth of the Landmark Group’s revenue as of 2014.
Max Retail Fashion currently operates around 145 stores in the country and it plans to open 50 more stores in 2016-17
Max Retail was launched in early 2004 in the Middle East. Over the past 11 years the brand has grown to become the largest value fashion brand in the region. It currently has more than 300 stores across the across 16 countries viz. India, UAE, Saudi Arabia, Kuwait, Jordan, Bahrain, Qatar, Oman, Turkey, Lebanon, Egypt, Yemen, Sudan, Nigeria, Libya and Tanzania. Max Retail inaugurated its first store in India in 2006.The business model includes a very strong in-house private label working with an in-house team of designers. It plans to open 30 new outlets in India annually.
Founded in 1973 with a single store in Bahrain, the Landmark Group has successfully grown into one of the largest and most successful retail organisations in the Middle East. An international, diversified retail conglomerate that encourages entrepreneurship to consistently deliver exceptional value, the Group operates over 1,200 outlets encompassing a retail presence of over 18 million square feet across the GCC, Jordan, India, Egypt, Turkey, Lebanon, Kenya, Sudan, Yemen, and Pakistan. The Group employs over 45,000 employees.
MAX Retail is the international value fashion brand of the Dubai based Landmark Group. Established in 2004 in the UAE, Max has become the largest value fashion brand in India and the Middle East with over 200 stores across 15 countries; offering customers a one stop shop for clothing, accessories and footwear needs for the entire family.
MAX retail India, a division of Lifestyle International (P) Ltd., has pioneered the concept of ‘value fashion’ in the country, thereby offering the discerning shopper a vast choice with international fashion & quality. It offers apparel, footwear & accessories that are of the latest fashion trends at a great price, making it affordable to many. Max has its own label merchandise of in house designs and planned colour palettes for the season. Every season Max introduces a fresh collection of international designs specially customized to the Indian market. The brand adapts to the changing needs of the shopper every season and accordingly introduces new designs, silhouettes & fabrics.
In India, MAX Retail was established in the year 2006 with its first store in Indore. Now, Max has around 105 stores across 45 cities with over 3500 employees
The store ambience offers an international shopping experience making shopping for the entire family an absolute delight. Max focuses on strong visual elements at the store for engaging customers while they are in store. The stores are designed for easy navigation with distinct category display to facilitate customers in easily locating product they are looking for.
The target audience for Max India is primarily is contemporary middle class family and young working couples within the age group of 25 to 35 yrs. As Max has positioned itself as a youth brand, it also targets teenagers and college students within the age group of 18 to 24 years.
Max Retail is reaching out to customers in Tier II towns through brand initiatives like Max Fashion Icon which addresses the aspirations of the stylish youth of the city and Max Little Icon which captures the interest of family oriented markets.
‘Landmark Rewards’ in a unique loyalty program, with current membership base of over 3.8 million customers, has emerged as one of India’s leading loyalty programs offering customers rewards and exclusive benefits. It helps the loyal customers to get more value every time they shop at Landmark Group outlets.
Max Retail has its footprints in Mumbai, Delhi/NCR, Bangalore, Chennai, Kolkata, Hyderabad, Pune, Bhopal, Indore, Kochi, Lucknow, Bhubaneswar, Jaipur, Jabalpur, Nagpur, Raipur, Surat, Vadodara, Gangtok, Ranchi, Siliguri, Agra, Allahabad, Amritsar, Bareilly, Chandigarh, Dehradun, Varanasi, Calicut, Coimbatore, Hubli, Kannur, Madurai, Mangalore, Mysore, Pondicherry, Thrissur, Trichy, Trivandrum, Vizag, Jammu, Vijayawada, Kanpur & Udaipur.
The brand plans to have a network of 120 stores by the end of the financial year.
TO BE AMONG THE TOP THREE RETAIL PLAYERS IN THREE OF THE FASTEST GROWING RETAIL MARKETS IN THE WORLD (MIDDLE EAST, INDIA AND CHINA)
- CAREFULLY LISTEN
- CONSTANTLY ADAPT
- ALWAYS DELIVER
- PASSION FOR EXCELLENCE
- INTEGRITY IN EVERYTHING WE DO
- EMPOWERING PEOPLE TO STRIVE AND DELIVER
- ADAPTING TO CHANGE MARKET AND CUSTOMER NEEDS
Max Retail operation area is Retail in garment product like Western wear collection, Ethnic collection, Kids Wear collection, Means Wear collection, Foot Wear collection, Accessory and Concessionaires items are available in max retail store. In Max Retail 4th block Jay Nagar total products are arrange according to the customer need and according to the Marketing Department product promotion and strategy.
- WESTERN WEAR DEPERTMENT
- ETHINIC DEPARTMENT
- KIDES WEAR DEPARTMENT
- MEANS WEAR DEPARTMENT
- FOOT WEAR DEPARTMENT
According to these department products are arrange in sub department. And these categories are also helpful for the customer selection of the product.
SUB DEPARTMENTS OF MAX RETAIL
Menswear Section of Max Retail:
- Casuals and Non denims
- Denim wear
Women’s wear Section of Max Retail:
- Western wear
- Ethnic wear
- Nightwear and innerwear
Kidswear Section of Max Retail:
- 2-8 years
- 8-14 years
Footwear Section of Max Retail:
- Hosiery items include socks and kids booties.
Accessories Section of Max Retail:
- Ladies Bags
- Necklace &Earrings
BRANDS AVAILABLE AT MAX RETAIL
Majority of the apparels of both men and women are tagged under their home brand i.e. MAX while in women’s section they have a brand named TAVISHA to provide customers with a wide variety of designer and affordable ethnic wear.
- LIFESTYLE BRANDS OF LANDMARK GROUP:-
- CONCESSIONARES-THIRD PARTY BRANDS IN THE STORE:-
FIXTURES USED IN THE Max Retail STORE
Store fixtures are the most important element of any retail store’s décor. It is significantly important to have them in almost any type of retail store. These fixtures help in keeping the products put on sale in an organized manner. Apart from this store fixtures also help in creating a customer-friendly display to attract more potential customers. They are also helpful in keeping the products on display for sale within the reach of customers.
In max retail store there are following types of fixtures used to display any products:-
- Down Step Table.
- Glass Nesting Table.
- Picnic Table.
- Strip Table.
- Glass and Wooden shelves on the wall.
- 4 Way Browser
- Pegs-used to hang socks and small items.
- Back bar
- Step arm
- T arm
- Straight arm.
- Bins-generally kept near point of sale (counter) for impulsive buying.
These are brands like Peter England, John Players, Bossini, Levis, Jockey, Etc., which form part of MAX Retail stores offerings.
2.2.2 Organization Structure
|Mr.Vasant KumarExecutive Director|
|Mr.C.S.ShekarSenior VP Operations|
|Mr. Ramnath VP Supply Chain|
|Mr. Nilesh Joshi Head Projects|
|Mr. Utkarsh Mohan Head Sourcing|
|Mr. Raghu Rajagopalan AVP Finance|
‘Leading with Respect’ is the way people at Landmark Group put Company Values into action.
By leading with respect, we create an environment where people feel free to offer suggestions and contribute ideas to be part of the organization’s success.
Leading with respect creates an environment where people genuinely care about each other and work well together to reach their full potential.
The ‘Leading with Respect’ principles are:
Express ideas clearly and simply; listen to others; create an environment where people are comfortable expressing their thoughts; promote timely and ongoing flow of information to and from others
Give and seek feedback
Develop people at Landmark Group by giving and seeking constructive, specific feedback, by providing direction and helping people stay on track and motivating positive changes and inspiring exceptional work.
Value unique contributions
Value and recognize the contributions and good work of others; respect individuality; involve others when making decisions and establishing priorities. Valuing people for their individual differences is the key to building and sustaining success in business now and in the future.
Create a commitment to common goals; resolve conflicts in a positive way and build a culture of camaraderie.
Set an example
Set a positive example for conducting business in an ethical manner, for managing your personal behavior and for creating a pleasant and balanced work environment.
ABOUT THE CODE OF CONDUCT
Landmark Group’s Code of Conduct serves as a guide for our daily business interactions, reacting our standard for appropriate behaviour and our corporate values. The Code clearly conveys to each of us that the manner in which we achieve our business results matters just as much as achieving them.
Most importantly, each employee is responsible for demonstrating integrity and leadership by complying with the provisions of the Code of Conduct, Standard Operating Procedures, Company policies and all applicable laws. By fully including ethics and integrity in our ongoing business relationships and decision-making, we demonstrate a commitment to a culture that promotes the highest ethical standards
Complying with the Code is easiest to ensure by using good judgment and seeking guidance when questions arise. Each of us is responsible for our decision-making and for our compliance with the Code. If you are uncertain, before you proceed with a specific action, ask yourself the following:
- Am I authorized to do this?
- Am I setting the right example for others to follow?
- Is the action legal and the right thing to do?
- Is the action consistent with Landmark Group’s Values, Leading with Respect principles, the Code of Conduct, the Company’s Standard Operating Procedures and other policies?
- Would I be proud to report this action to someone I respect?
- Will the action further enhance Landmark Group’s reputation as an ethical Company?
- Am I demonstrating the highest ethical standards?
If the answer to any of these questions is NO or if you have any questions or concerns about interpreting or applying the Code of Conduct or any related Landmark Group standards, policies or procedures, you should discuss the situation with your Reporting Manager, Supervisor or Human Resources representative.
No adverse action will be taken against anyone for complaining about, reporting, participating or assisting in the investigation of a suspected violation of the Code of Conduct, unless the allegation made or information provided is found to be intentionally false. To the maximum extent possible, the company will maintain the confidentiality of all complaints.
The Code is available on our online portal “connect”. Landmark Group requires that its people, read, understand and comply with the Code. However, compliance does not just happen. It requires a commitment from each of us.
Shoppers Stop is an Indian retailing company promoted by the K Raheja Corp Group, started in the year 1991 with its first store in Andheri, Mumbai. Shoppers Stop Ltd has been awarded “the Hall of Fame” and won “the Emerging Market Retailer of the Year Award”, by World Retail Congress at Barcelona, on April 10, 2008. Shoppers Stop is listed on the BSE. As of 2013, Shoppers Stop has 73 stores in India.
Shoppers Stop began by operating a chain of department stores under the name “Shoppers’ Stop” in India. Shoppers Stop has 74 stores across 35 cities in India.
Specifically, Shoppers Stop stores retails clothing, accessories, handbags, shoes, jewelry, fragrances, cosmetics, health and beauty products, home furnishing and decor products.
Shoppers Stop launched its e-store with delivery across major cities in India in 2008. The website retails all the products available at Shoppers Stop stores, including apparel, cosmetics and accessories. Shoppers Stop opened stores in Amritsar, Bhopal and Aurangabad.
Trent is a retail operations company established in 1998 that owns and manages a number of retail chains in India. The company runs lifestyle chain Westside, one of India’s largest and fastest growing chains of lifestyle retail stores; Star Bazaar, a hypermarket chain; Landmark, a books and music chain; and Fashion Yatra, a complete family fashion store.
Westside is the mainstay of the retailing business of Trent. It has a number of stores in India, which offer clothes, footwear and accessories for men, women and children, along with furnishings, artifacts and a range of home accessories. Star Bazaar offers a wide choice of products, including staple foods, beverages, health and beauty products, vegetables, fruits, dairy and non-vegetarian products. Landmark has a range of over 100,000 titles in books and music, and also stocks movies, toys, gift items and stationery. Fashion Yatra represents the stores that bring quality fashion at low prices to value conscious customers in towns across India.
Established in 1998 as part of the Tata Group, Trent Ltd. operates Westside, one of India’s largest and fastest growing chains of retail stores.
The Westside stores have numerous departments to meet the varied shopping needs of customers. These include Menswear, Women’s wear, Kid’s wear, Footwear, Cosmetics, Perfumes and Handbags, Household Accessories, lingerie, and Gifts. The company has already established 36 Westside departmental stores (measuring 15,000-30,000 square feet each) in Ahmedabad, Bangalore, Chennai, Delhi, Gurgaon, Ghaziabad & Noida (to be considered as 1 city), Hyderabad, Indore, Jaipur, Kolkata, Ludhiana, Lucknow, Mumbai, Mysore, Nagpur, Pune, Rajkot, Surat, Vadodara and Jammu. The company hopes to expand rapidly with similar format stores that offer a fine balance between style and price retailing.
Trent ventured into the hypermarket business in 2004 with Star Bazaar, providing an ample assortment of products made available at the lowest prices, aptly exemplifying its ‘Chota Budget, Lambi Shopping’ motto. At present Star Bazaar has 4 stores in 3 cities located in Ahmedabad, Mumbai and Bangalore. This store offers customers an eclectic array of products that include staple foods, beverages, health and beauty products, vegetables, fruits, dairy products, consumer electronics and household items at the most affordable prices. Star Bazaar also includes a large range of fashionable in-house garments for men, women and children, exclusively available at the store.
In addition, Trent recently acquired a 76% stake in Landmark, one of the largest books & music retail chains in the country. Landmark began operations in 1987 with its first store in Chennai with a floor space of 5500 sq. ft. At present Landmark have 10 stores, varying in size from 12,000 sq. ft. to 45,000 sq. ft, 3 in Chennai and 1 each in Bangalore, Gurgaon, Mumbai, Vadodara, Gurgaon, Pune, Lucknow and Ahmedabad. Until 1996, Landmark’s product portfolio comprised books, stationery, and greeting cards. It was later that music was added to it. Landmark also sparked the trend of stocking curios, toys and other gift items. What separates Landmark from other stores of its kind is the range and depth of its stock.
Launched in January 1998, Globus
is a part of the Rajan Raheja group. The company opened its first store in 1999 at Indore followed by the launch of its second store in Chennai (T-Nagar). Soon to follow was another in Chennai located in Adyar. The flagship store in Mumbai was opened on 1st November 2001 followed by a swanky new outlet in New Delhi in South Extension Part-2.
The sixth & seventh stores are in Bangalore in Koramangala& Richmond Road respectively. The Eighth store in Ghaziabad at Shipra Mall followed by the ninth, tenth and eleventh in Kalaghoda, Mumbai, Thane and Ghaziabad, twelfth store at Kanpur and thirteenth store in Ahmedabad & fourteenth store in Lucknow. As of May 2008, Globus has opened its 24th Store in Nagpur and the journey continues.
PANTALOONS FASHION RETAIL
Pantaloons Fashion & Retail Limited is an Indian premium clothing retail chain. The first Pantaloons store was launched in Gariahat, Kolkata in 1997. As of November 2013, there are 76 Pantaloons stores in 44 cities. Pantaloons was previously controlled by the Future Group, but has now been taken over by Aditya Birla Nuvo Limited (ABNL). According to the Brand Trust Report 2014, a study conducted by Trust Research Advisory, Pantaloons featured among 100 most trusted brands in India.
With a chain of 121 fashion stores across 40 cities and towns, Pantaloons is constantly extending its footprint into the rest of modern India. It spans a retail space of 1.7 million square feet which is amongst the largest in India.
Pantaloons retail approximately 200 brands which comprise a mix of private labels, licensed brands and more in apparel and accessories. Pantaloons offer a wide range of exclusive brands that cater to different occasions for men, women and kids. These include Agile, Chalk, Akkriti, Trishaa, Honey, Annabelle, SF Jeans, Bare Denim, Bare Leisure and JM Sports etc.
COMPARISON OF THESE COMPETITIORS
|Store Name||Pantaloons||Westside||Max Retail||Globus||Shoppers Stop|
|FormatType||Multibrand(Aditya Birla Group)||Multibrand(Tata group)||Multibrand(Landmark group)||Multibrand(R Rahega)||Multibrand(K Rahega)|
|Positioning||Family Store||Style andaffordability||Value pricing retailer||Iconic youth fashion brand||Premium brands retailer for entire family|
|Categories||Apparels and accessories for entire family||Apparels,footwear,accessories and home decor||Apparels, footwear and accessories for entire family||Premium brands for entire family range|
|MaterialUsed||Polyester, polyviscose, gorget.||Polyester, polyviscose, gorget.||Polyster,polyviscose,cotton,lycra||Polyester, polyviscose, gorget.||Polyester, polyviscose, gorget.|
|Brands Available||Bare Denim,Umm,Agile,Honey,Akkriti,Anna Belle etc||Westport, Id,lee,Wrangler etc||Bossini,Max-private label,JP,Peter England etc||F21 jeans,globus,spykar etc||Aditya Birla brands,Stop,Crocs,Red Tape and premium international brands|
The Indian retail sector can be broadly classified into:
A) FOOD RETAILERS
There are large number and variety of retailers in the food-retailing sector Traditional types of retailers, who operate small single-outlet businesses mainly using family labour, dominate this sector In comparison, super markets account for a small proportion of food sales in India However the growth rate of super market sales has being significant in recent years because greater numbers of higher income Indians prefer to shop at super markets due to higher standards of hygiene and attractive ambience.
B) HEALTH & BEAUTY PRODUCTS
With growth in income levels, Indians have started spending more on health and beauty products .Here also small, single-outlet retailers dominate the market .However in recent years, a few retail chains specializing in these products have come into the market. Although these retail chains account for only a small share of the total market their business is expected to grow significantly in the future due to the growing quality consciousness of buyers for these products
C) CLOTHING & FOOTWEAR
Numerous clothing and footwear shops in shopping centers and markets operate all over India Traditional outlets stock a limited range of cheap and popular items; in contrast, modern clothing and footwear stores have modern products and attractive displays to lure customers. However, with rapid urbanization, and changing patterns of consumer tastes and preferences, it is unlikely that the traditional outlets will survive the test of time.
D) HOME FURNITURE & HOUSEHOLD GOODS
Small retailers again dominate this sector. Despite the large size of this market, very few large and modern retailers have established specialized stores for these products. However there is considerable potential for the entry or expansion of specialized retail chains in the country.
E) DURABLE GOODS
The Indian durable goods sector has seen the entry of a large number of foreign companies during the post liberalization period. A greater variety of consumer electronic items and household appliances became available to the Indian customer. Intense competition among companies to sell their brands provided a strong impetus to the growth for retailers doing business in this sector.
F) LEISURE & PERSONAL GOODS
Increasing household incomes due to better economic opportunities have encouraged consumer expenditure on leisure and personal goods in the country. There are specialized retailers for each category of products (books, music products, etc.) in this sector. Another prominent feature of this sector is popularity of franchising agreements between established manufacturers and retailers.
BENEFIT TO CUSTOMER THROUGH RETAILER SECTOR
There has been a significant change in retail trading over the years, from small kiranawalas in the vicinity to big super markets; a transition is happening from the traditional retail sector to organized retailing. The unorganized sector still holds a dominant position in this industry. The organized segment holds just about 1.2% of the current US$ 245 billion retail market, which is expected to reach about US $ 385 billion by the middle of this decade.
With consumers looking at convenience with multiplicity of choice under one roof and expectations evolving over time, consumer demand is truly the driving force for organized retailing in the country. Food and beverages form the main chunk of the retail market. They are followed by apparel and footwear. The Indian textile industry, the backbone of the apparel segment, has a large share of the Indian economy, accounting for over 20% of industrial production as well as providing direct and indirect employment to around 65 million people.
Despite the retail store density in India with regard to population being the largest, it is estimated that over 90% of the stores are less than 500 sq. ft in size. Industry estimates put the number of retail outlets at 12 million. This is clearly indicative of small-shop ownership crowding the unorganized segment of retailing. While this fragmented market structure does pose significant challenges for organized retailing, potential does exist if modern information and supply chain management systems are to support the development of convenience shops that match customer expectations.
Today trend is the development of integrated retail cum Entertainment centers or shopping malls. An increasing number of retailers are focusing on malls now as opposed to stand-alone developments. While the number of shopping malls has seen a massive surge in the recent past in the metros and their suburbs, the latest trend in this sector is the increasing focus on providing leisure activities such as multiplexes, facilities for kids’ entertainment, eateries etc. within the mall premises. Customer less the time consumes and more entertainment with his family in malls because they within shopping mall number of retail shop and variety of products and selected the product they want. Good environment in mall. Less crowed and These are enclosed, air-conditioned, multi-level malls of at least 100,00 sq ft. Critical to these malls is the concept of the anchor, the key outlet or store around which other outlets cluster. The most popular Indian anchors include Shoppers’ Stop, Globus, Pantaloon, Lifestyle and hypermarkets like Big Bazaar and Giant. Cinemas also often anchor malls. Driven by the lucrative tax breaks, the old single screen theatres are being divided into three-five smaller screens, as was done in the US, years ago
Landmark Group is a multinational conglomerate based in Dubai, UAE headed by Micky Jagtiani, who is the Founder & Chairman of the company. The group is involved in retailing of apparel, footwear, consumer electronics, cosmetics & beauty products, home improvement and baby products. The group also has interests in hospitality & leisure, healthcare and mall management. The group has several in-house brands and also works with other brands, acting as a retailer.
Business & Brands
Landmark Group’s business can be broadly classified into Retail, Hospitality and Healthcare. Retail is the group’s core focus area and it deals mainly with apparel, furniture, footwear, consumer electronics, cosmetics & beauty products, home improvement and baby products. In India, the formats are different and include grocery retail in a joint venture with Aachen and hence the list below does not apply to India.
|Apparel||Babyshop, Splash, Max, Lifestyle, Iconic and Centrepoint (a single store format housing, Shoemart and Lifestyle).|
|Footwear||Shoemart, Shoexpress, Shoemart International Footwear|
|Furniture & Home Improvement||Homecentre, Q Home Decor, Home Box|
|Hospitality||Citymax, Oasis Malls, Foodmark, Spaces, Fitness First, Fun City, Funville|
|Healthcare||iCare Clinics, Balance Wellness Club|
|Others retail||E-max (Consumer Electronics), Sports One (Fitness Gear), Candelite (Confectionery)|
Events and Associations
In 2014 the brand debuted its design awards, ‘Max Design Awards’ in association with Elle. In 2014, Max partered with Elite Model Management to sponsor ‘Elite Model Look India 2014’ where the winners went on to represent India at the Elite Model finale in China. It is an annual affair and in 2015, winners went on to represent India in the World Finale held in Milan.
The brand runs the ‘Max Fashion Icon’, a model hunt in association with Cosmopolitan Magazine. In 2014, actor Kalki Koechlin was one of the judges of the event. The 2015 edition of the model hunt was judged by actor Ileana D’Cruz among others.
Awards and Recognition
Max was awarded the ‘CMO Brand Excellence’ award during the 6th CMO Asia Awards for Excellence in Branding & Marketing. Max was also bestowed with the ‘People’s Choice Retailer of year’ at the BOC- Retail Brilliance Awards in November 2014.
Max Fashion bagged the IMAGES Most Admired Fashion Retailer of the year award in the Large Format Store Chain category.
THE STORE LAYOUT
The store design and layout tells a customer what the store is all about. It is a very strong tool in the hands of the retailer for communicating and creating the image of the store in the minds of the customers.
For a retailer store layout is:
The primary considerations that the retailer takes into account while choosing the look for his store are his target audience, their needs, and buying habits and the merchandise that he is going to sell. Creating a store image is like giving a personality to the store
For the consumer:
A store needs to be simple to navigate; it must appeal to his sensory perceptions and must create a sense of belonging, a sense of relationship, a sense of security or assurance and a sense of pleasure in the shopping experience
Finally it is the physical attribute of the store which affects the customer’s sensory perceptions, and makes him relate to the store in a particular manner.
The store layout can be classified into
- Race track
- Free form.
Grid layout: It is most commonly used in a supermarkets and discount stores. It Is a preferred layout in many retail stores that adopt self service.
Race track layout: This layout is popularly found in department stores. The display is in the form of the race track or a loop with a major aisle running through the store. It links the various departments or the sections inside the store.
Free form layout: In a freeform, merchandise is arranged in an asymmetrical manner. It allows for free movement and is often used in retail outlets to encourage people to browse and shop.
MAX Retail STORE DEPARTMENTS-CARPET AREA
|DEPARTMENT||CARPET AREA IN SQ.FT.|
DEPARTMENT WISE AVERAGE CONTRIBUTION TO SALES
|WOMENS-WESTERN WEAR||21 PERCENT|
|WOMENS-ETHNIC WEAR||14 PERCENT|
COMMANLY USED FABRICS BY THE BRAND:
- Liva-Latest fabric launched by Aditya Birla Group
- PU Leather
KEY RESPONSIBILTY AREAS OF DEPARTMENT MANAGER AT MAX
|FINANCIAL||· Sale Target· KPI-Key Performance Indicator· Stock Cover· Shrinkage Control· CBA objective|
|CUSTOMER||· Basic Customer Service Standard· Planogram|
|INTERNALPROCESSES||· PI/GC Schedule and Negative stock/Without bar code· Productivity Tracker· SOP’S-Standard Operating Procedures|
|PEOPLE MANAGEMENT||· Enagagement· Training· Attrition Rate less than 4 percent|
SWOT analysis (alternatively SWOT matrix) is an acronym for strengths, weaknesses, opportunities, and threats—and is a structured planning method that evaluates those four elements of a project or business venture. A SWOT analysis can be carried out for a company, product, place, industry, or person.
|· Value for money· Wide varieties under a single roof· Easy return policies· Large number of loyal customers||· Customer Service· Store operations· Advertising and lack of promotional offers|
|· Untapped urban and rural population· Strategic alliances and e-commerce mergers.· Better loyalty programs can be introduced||· Competitors in multi brand outlets.Ex:-Westside, Globus.· Quality parameters.|
A PEST (Political, Economic, Social and Technological) analysis is a major part of the environmental scanning section of strategic management and it is used by companies during market research and strategic analysis.
Using a PEST analysis helps a business to understand various macro environmental factors that they need to take into consideration when determining the decline or growth of a particular market.
- Political (Legal) Aspects:
An Industry will not be able to gain success, good reputation and trust if it will not consider legal and political sector as part of their strategy. Political and legal sectors include the needs of the company to follow the given policies and regulations of the government in order to be considered as legal and authorized business company. In this manner, industry should be able to consider political and legal aspects so as to show that they value the policies and regulations of the government in any of the business operations.
- Tax policy
- Employment laws
- Political stability
- Environmental regulations
- Trade and tariff restrictions
- Economic Aspects:
It is important that apparel must also give enough attention to its economic stability. The economic goal of a certain industry is like an axis in which other objectives or goals are revolving. The economic factor involves the context in which an industry belongs, i.e. the configuration of the competition in which a company operates the active demand of the products, general economic condition of the nation or region, conditions in relation with other industries, and the situation of the resource markets.
- Economic stability
- Economic growth
- Interest rates
- Inflation rates
- Exchange rates
- Socio-cultural Aspects:
Society and culture is an important factor that must be given emphasis by any business, specifically those who are operating in the global arena. It is important that the company must operate in compliance with the social systems in order to gain good reputation and effective public image. On the other hand, cultural aspects is equally essential, in order to understand the various needs of different individuals that belongs to different cultures.
– Population growth rate
– Age distribution
– Career attitudes
– Consumer behaviour
– Religion and culture itself
- Technological Aspects:
The complexities of achieving business success through increased efficiency, effectiveness and competitiveness, combined with innovative applications of modern technology, has heightened the awareness of both technology and business managers towards more strategically oriented approaches for planning and management of any industry. Hence, it is important that industry must be able to give consideration to the technological aspects.
- Distribution and communication channels
- Technology incentives
- Rate of technological change
- Environmental and ecological aspect
- Barriers to entry
- Production level decisions
1-Threat of new entrants:
The threat of entrants in the industry for Max Retail are basically e-commerce apparel websites like jabong,myntra,yepme etc.These start-ups have already established their image in the minds of the customers as they offer wide variety of products with maximum discount offers.
In Brick and Mortar stores the fast expansion of market share by V Mart Retail is also a threat for the company because stores like this have already penetrated their reach to the rural customers as well.
2-Bargaining power of Suppliers:
Max procures most of its stock from its in house manufacturing division i.e. Lifestyle India Pvt Ltd.
All the items are manufactured by themselves except some of the apparels by domestic manufacturers in Delhi and South India and footwear which are imported from China where they have several authorized vendors. In this area of procurement they can negotiate the rates from the supplier.
Thus the bargaining power of supplier is low in the case of Max Retail.
3-Bargaining power of the Buyer:
Buyer or the customer in the case of Max Retail does not possess any bargaining power because the pricing is fixed for each and every customer.
The discounts are given to the customers only after the promo note is been circulated by the regional office which contains all the details of a particular promotional offer.
4-Threat of Substitutes:
Max is known for its Value pricing retailing concept i.e. fashionable clothes at an affordable price thus it has a specific target audience and many loyal customers as well.
It has a very effective loyalty program scheme which helps in developing a long term relationship with the customers.
Some of the retailers that are a concern for the company are Globus,V Mart, Big Bazaar.
India is very fast growing retail industry due to its enormous population backed by the purchasing power of the consumers.Max Retail is a value concept retailer which targets the middle and lower middle class customers as these are very large in number thus it has a strong customer base of itself and is also increasing at a very fast rate. It keeps itself updated with the latest market trends and styles to offer fashionable products at an affordable price to the customers.
During my working experience at different departments of Max Retail Store, I came across a major and consistent problem of manpower gaps or shortage in every section due to which there is an excess burden of workload on the remaining Customer Relation Executives (CRE’s).This is also increasing the employee turnover as the salespersons are leaving the organization at a very high rate.
The outcome of which is leading to lack of customer service because there are lesser number of staff present on the floor to attend the customers.
The major areas of concern for Max Retail are as follows:
- How to increase the customer satisfaction level by assisting each every customer?
- How to effectively manage the daily store operation?
- How to make the display of the store attractive and appealing to the customers?
- What strategies should be implemented to fulfill the manpower gaps?
- What criteria should be taken to distribute the workload equally among the salespersons?
- What should be done in order to reduce the attrition rate i.e. employee turnover?
In the training process the main objective of the task were as follows:
- To enhance the customer service by taking care of each and every customer.
- To get familiar with the products and the schemes offered by the organization.
- To know about the visual merchandising of the store and how to perform it.
- How to get the work done from the Customer Relation Executives and keep a track of their daily records.
- How to lower down the employee turnover in the organisation by reducing their work pressure.
Task 1: Visual Merchandising of the Footwear Department.
Visual merchandising is one the most important aspect of retail operations as the display of the store most important in maximising daily sales.
The activity and profession of developing the floor plans and three-dimensional displays in order to maximize sales. Both goods and services can be displayed to highlight their features and benefits. The purpose of such visual merchandising is to attract, engage, and motivate the customer towards making a purchase.
Use of visual merchandising:
Visual merchandise is the presentation of a store and its merchandise in such a manner that will attract the attention of potential customers. Definition: Visual merchandise is the presentation of a store and its merchandise in such a manner that will attract the attention of potential customers.
Visual merchandising consists of mainly two techniques; interior and exterior displays, also known as in-store design and window displays.
In-store visual merchandising can be used to capture the attention of consumers whilst they are in the store, which essential in the buying decision-making process. To capture the attention of the customer the retailer must consider the customer’s needs during this process.
The layout of a store is a significant factor for the maintenance of a thriving business, which can help advance sales and profitability.
WALL DESIGNING OUTCOMES:
Task 2: Daily Checklist Work:
The first task which was carried out to learn about retail operations was to carry out the Daily Checklist work of the store.
It has list of points covering all the aspects of the store.
It has to be filled by the Senior CRE’s and the Department Managers daily under the supervision of the Store Manager.
These were the points mentioned in the daily checklist of Max Retail:-
- Is the floor set-up as per the department approved layout plane
- Are all the fixtures correctly aligned, evenly spaced and in perfect working order.
- Are all the fixtures and acrylic clean and dust free with correct signage?
- Is the Fitting room cleaned and cleared as per ROTA for the day assigned.
- Are all the staff present as per the roster and on time for shift.
- Are staff well groom and in correct uniforms and names with badges worn.
- Has the team briefing been held-Morning and Noon.
- Any staffs absent without information/Sick leaves.
- Are all stock displayed as per planogram.
- Are all special fixtures full and with correct signage.
- Have all stock gaps been identified and stocks been replenished.
- Have all stocks been security tagged.
- Have all new season options been noted and displayed as per POG Guidelines.
- Have all consolidation been done and properly kept for dispatch.
- Are damages been kept separately?
- Stock in the back store is kept by groups and departments.
Max Retail has a very good policy of FIND YOUR SIZE which is for those customers who does not get their desired sizes in the showroom.
Thus it is the in key responsibility areas of each and every CRE to note down their details so that they can be informed if their sizes are available in the near future,
The details to be filled up by the CRE’S areas follow:
|Date||Style||Size||Colour||Customer Name||Mobile No.||Action taken||StaffSign.|
Some of the problems and their necessary actions taken in the store were:
Problem 1: Store temperature is very hot. Difficult to shop.
Action taken: Talking to the mall manager to increase the cooling as the store temperature is regulated by the mall management.
Problem 2: Customer Service is not good.
Action taken: Briefing the Customer Relation Executives to greet each and every staff and look to attend each of them properly.
Problem 3: There should be separate cash counter for disabled and senior citizens.
Action taken: Talking to the store manager about this issue and try to push this message to the higher authorities at Regional Office, Delhi.
Problem 4: Changing/Fitting room is very congested and always occupied.
Action taken: Being a value brand the customer footfall is very high at fun republic store of Max because it comes under “MAHARATNA” Store and among top 3 stores of Northern India.
Problem 5: Promotional offers are of no use.
Action taken: As the process note i.e. the note which is circulated by the regional office containing the details about the offer is not in the hands of store management the only thing which can be done was to give the feedback to the top management to introduce more lucrative offers in the future if possible.
The most important part of the task was to study consumer behavior in order to make them satisfied to a great extent. The task included the following major concerns:
- To attend each and every customer properly.
- To perform daily report operations.
- To manage inventory and minimize the shrinkage.
- To display the products according to the planogram and getting it checked by the Department Manager.
In the entire training process each day I tried my level best to understand the complex buying behaviour of the customers so that I can help the organization by different ways.
The most important things about the entire task was to gain insights about the various techniques and tools used by the organization to retain and attract new customers so that they can build large number of loyal customers and make develop a brand image in the market by serving their customers to the best of their efforts.
The customer service of max is average according to the feedback given by various customers and requires a lot to be improved in order to gain customer delight.
Being a learner my task was not easy at all. I had a responsibility to help retailers to increase inventory volume and also I had to help them in some technical issues. During the training tenure, I skilled myself as part of retail management team who can support team and organization to increase the sales.
- Max does not have proper inventory management, due to which many times stock are not placed in adequate numbers.
- In foot-ware section product are not from well-known brands.
- Max does not have its own cafeteria for employees working there.
- Max does not have adequate office space for conducting meetings.
I started training with a plan and structured the design of my training. I started training with help of secondary data as initially I visited company website and also went through journals to get knowledge about the complete product range. Afterwards I started interacting with the customers at retail store and interacted to different customer. I attended some customers and helped in product selection. I also tried to get information about their inventory volume.
I prepared a MS excel sheet for my daily updates. I started task with a plan and at end of daily basis I tried to mark did i completed the task or something left. Such planned study helped me a lot as days were allotted according to task. Every day I started with “do’s & don’ts” and at end of the I checked the status of my report card.
Starting days were little puzzled as atmosphere was new for me but support from company executives and my help of my training mentor made everything easy for me.
Product management is also an important strategy in MAX RETAIL. In the MAX RETAIL each and every product are useful and run able product in the market. Product would be changed if those are not sold on the market.
Brand management is also important strategy in the way of which brand should be for sale in the store, because it is gives impact on the customer. Every brand has its market value and it is also gives impact on the store image.
Sales and sales promotion:
Sales and sales promotion gives a positive result. Showing the higher sales report makes brand value in customer. And customers are also gives attention on those types of retailer.
Providing service for customer is also a marketing function which makes customer satisfaction and attracts the customer for next time coming in the store.
It helped me to gain knowledge about the following areas:
- Customer’s problems and their possible solutions.
- Customer’s preference of shopping at Max.
- Improvement in customer service required at Western-Ladies Department.
- Managing staff so that every customer is attended properly.
- Retail stores should use an area that is easily approachable.
- Invest in supply chain infrastructure
- Ease distribution – infrastructure creation
- It should take steps to convert the footfall in the Retail Stores into sales by offering, “Catchy & Intelligent schemes”.
- The attitude of sales force must be helping & communication in formal way.
- Proper signage’s should be used in retail store
- Exchange Policies of retail store should be properly communicated to customers during Sale.
- Men’s Accessories like Sunglasses and Bracelets can be added up in Accessories section.
- To solve the problem of alteration on Sunday, Company can provide the home delivery of altered merchandise.
- Sizes of the merchandising should be standard.
- Sizes of merchandising should be easily visible or one rack can be made for each size of different style.
The recommendations provided by myself are some of the major issues that are faced by an organisation and it will help the organisation in one way or the other if they consider the following suggestions given.
In Retail suggestions and feedbacks matters a lot as it is totally depended upon the customers through its outlet sales so the implementation of such practises and can be taken into consideration by the top level management to improve its overall customer service and increasing the level of customer satisfaction.
These suggestions can be very well implemented by taking care of the following measures:
- Company policies and procedures
- Product specific
- Customers likings and preferences
- Procurement of stock and inventory guidelines
These can be measured by looking on the daily sales and monthly sales of the store as well as analysis the change in sales of various products on which the discounts are provided.
The recommendations given can also be altered according to the feasibility of the company’s working norms to make it easier in implementing and making it as a part of their system so that they can cater to various dynamic needs of the customers.
The sea of change can pull customers in many directions. It is our responsibility to light the way and take care of them before the competition.
RETAILING Means Re-tailing to the customers so that they comeback
Retailing consists of all activities involved in selling goods and services to consumers for their personal, family, or household use. It covers sales of goods ranging from automobiles to apparel and food products, and services ranging from hair cutting to air travel and computer education. Sales of goods to intermediaries who resell to retailers or sales to manufacturers are not considered a retail activity.
The task carried out by myself helped me gain knowledge about various parameters of the customer service and how it can be improved by paying more attention to the customer’s needs and wants and also to help me in delivering the best of my efforts in increasing the satisfaction level of the walk-in customers.
6.2 GAINS FROM THE PROJECT
- Customer’s problems and their possible solutions.
- Customer’s preference of shopping at Max.
- Improvement in customer service required at Western-Ladies Department.
- Managing staff so that every customer is attended properly.
- Time limitation.
- Training has been done in Lucknow city only.
- Training based on secondary data majorly.
Retail sector has lots of scope in its operations because as the needs and demands of the consumer are changing with time thus there are many unexplored areas in which the research and non research has to be conducted as to gain new insights about the consumer.
It will help the organisation to have better understanding of their target market thus increasing their overall sales and building a brand image in the market.
The past 4-5 years have seen increasing activity in retailing. And, various business houses have already planned for few investments in the coming 2-3 years. And though the retailers will have to face increasingly demanding customers, and intensely competitive rivals, more investments will keep flow in. And the share of organized sector will grow rapidly. Retailing in India is surely poised for a takeoff and will provide many opportunities both to existing players as well as new entrants… The country is witnessing a period of boom in retail trade, mainly on account of a gradual increase in the disposable incomes of the middle and upper-middle class households. More and more corporate houses including large real estate companies are coming into the retail business, directly or indirectly, in the form of mall and shopping centre builders and managers. New formats like super markets and large discount and department stores have started influencing the traditional looks of bookstores, furnishing stores and chemist shops. The retail revolution, apart from bringing in sweeping, positive changes in the quality of life in the metros and bigger towns, is also bringing in slow changes in lifestyle in the smaller towns of India. Increase in literacy, exposure to media, greater availability and penetration of a variety of consumer goods into the interiors of the country, have all resulted in narrowing down the spending differences between the consumers of larger metros and those of smaller towns.
Lastly I want to conclude my project in some points-
- The customers are attracting towards shopping malls & retail outlets.
- The shopping malls & retail outlets are targeting to middle class customers because the purchasing power of this class is rapidly growing as well as the class is also growing.
- The young generation is fashion & show-off conscious so retail outlets are mainly focused on them.
- Most of the family wants to purchase from big showrooms and malls because there are no bargaining system so they have a trust that there is no cheating.
- The main strength of most of the retail outlets are providing attractive offers to attract customers.
- Big retail stores are running customer loyalty programmes which has increased profits and number of customers.
In my training program I learned what are the various customer demands and needs so that they can be satisfied in the best possible ways. This internship helped me to get practical experience of the retail sector and increase my knowledge. It also helped me to deal with various problems faced by the organisation as well as an employee.
I went through difficult challenges of retail operations to check whether I am right fit for the sector.
APPENDIX A: COMMANLY USED ABBREVIATIONS IN THE STORE
|RDC||Regional Distribution Centre|
|GRN||Good Received Note|
|MGRN||Manual Good Received Note|
|SOP||Standard Operating Procedure|
|LFL||Like for Like|
|MOM||Minutes of Meeting|
|CAM||Comman Area Maintenance|
|LAN||Local Area Network|
|POS||Point of Sale|
|STN||Stock Transfer Note|
|BRF||Barcode Requisition Form|
|DSD||Direct Store Delivery|
|EOSS||End of Season Sale|
|POD||Proof of Delivery|
|COD||Cash on Delivery|
|WPR||Weekly Performance Report|
|LIFE||Lifestyle Insurance Education Fund|
|DSR||Daily Sales Report|
|ACM||Average Cash Memo|
|MTD||Month Till Date|
|YTD||Year Till Date|
|STD||Season Till Date|
|QTD||Quarter Till Date|
|OTB||Open to Buy|
|RMS||Retail Merchandising System|
|RPM||Retail Price Management|
|SIM||Store Inventory Module|
|IJP||Internal Job Portal|
APPENDIX B: COMMANLY USED FORMULAS
|ROS||Total Sold Quantity/No. of Days|
|ACM||Total Net Sale/Total No. of Bills|
|BS||Total Sold Quantity/Total No. of Bills|
|PPV||Total Net Sale/Total Sold Quantity|
|SPF||Total Net Sale/Total Area|
|SPD||Total Net Sale/Total No. of Days|
|Contribution||Total Dept. Sale*100/Total Store Sale|
|Achievement||Total Actual Sale/Total Target|
|Conversion||Total No. of Bills/Total No of Footfall|
|RPC||Total Net Sale/Total No. of Footfall|
|Cover Days||Total SOH/ROS|
|LFL||Current Year Sale – Last Year Sale=Difference|
|Sell through Rate||Total Sold Quantity/(Sold Qty.+SOH)|