S.No. Table of Content Page No.
1 Introduction 2
2 Industrial Analysis 4
2.1 Industry Trends 5
2.2 Global Retail V/s Indian Retail 6
2.3 Industry Size 8
2.4 Target Market 11
2.5 Types of Retail Competition 13
2.6 Major Player of Hypermarket 15
2.7 Competitive Advantages 20
3 Company Profile 25
3.1 Introduction 25
3.2 Key features 25
3.3 Key people 26
3.4 Vision 26
3.5 Products 26
3.6 Organizational Structure 26
3.7 SWOT Analysis 27
3.8 Job and Responsibilities 29
3.9 Problems 30
4 Suggestions 30
4.1 Key learnings 31
Introduction
Most recent couple of years India has witnessed radical changes in the
creating of malls deserting the customary high road shops & currently also
coping up with the situation of covid-19. Indian land designers got models
from the west, transformed them to suit the Indian setting to touch base at a
quickly developing number of home-developed shopping centers.
Indigenous elements, for example, accessibility of physical space, populace
densities and city arranging and financial parameters have added to this
shopping center surge in the Indian market. In spite of the fact that the basic
role of a shopping place is to take into account the retail necessities of its
customers; excitement and nourishment courts are now and again connected
to give a total shopping, eating and amusement encounter.
In India, the main operational shopping center was opened in Mumbai in
1999. Around the same time, Ansal Plaza was begun in New Delhi. In the
course of recent years, those first shopping centers have developed into 6
million square feet of operational shopping center space in Mumbai, Delhi,
Bangalore and Hyderabad. Huge designers like Unitech, DLF, TDI, Ansals.
Omaxe and Parsvanath, Aerens and BPTP have officially understood the
capability of these shopping centers.
To offer something new to the clients, engineers have been trying different
things with various retail designs like claim to fame stores, hypermarket,
comfort stores and grocery store. New shopping centers are coming up in
level II and level III urban areas. Contrasted with the extensive urban areas,
sorted out retailing in residential communities is developing at a stunning rate
of 50 to 55 for each penny. More than 800 new shopping centers are being
arranged all over India.
In this aggressive environment, Gagandeep Trading company has
additionally made a space and picture in the brain of clients. Gagandeep
Trading company follows the concept of value retail in India. In other words,
their business approach is to sell quality goods at reasonable prices by either
manufacturing them self or directly procuring from manufacturers (primarily
from small and medium size vendors and manufacturers). It aims to facilitate
one-stop-shop convenience for their customers and to cater to the needs of
the
entire family. It believes this concept has helped them grow to their current
size within a short time frame of their years. In order to reduce costs and take
advantage of economies of scale it has embarked on backward integration of
their products.
Industrial Analysis
Retail Industry Description:
Introduction:
The Indian retail industry has emerged as one of the most dynamic and fast-paced
industries due to the entry of several new players. Total consumption expenditure
is expected to reach nearly US$ 3,600 billion by 2020 from US$ 1,824 billion in
2017.
It accounts for over 10 per cent of the country‘s gross domestic product (GDP) and
around eight per cent of the employment. India is the world‘s fifth-largest global
destination in the retail space. India ranked 73 in the United Nations Conference on
Trade and Development's Business-to- Consumer (B2C) E-commerce Index 2019.
India is the world‘s fifth largest global destination in the retail space and ranked 63
in World Bank‘s Doing Business 2019.
India is the world‘s fifth largest global destination in the retail space. In the FDI
Confidence Index, India ranked 16 (after the US, Canada, Germany, United
Kingdom, China, Japan, France, Australia, Switzerland, and Italy).
In India, the main operational shopping center was opened in Mumbai in 1999.
Around the same time, Ansal Plaza was begun in New Delhi. In the course of
recent years, those first shopping centers have developed into 6 million square feet
of operational shopping center space in Mumbai, Delhi, Bangalore and Hyderabad.
Huge designers like Unitech, DLF, TDI, Ansals. Omaxe and Parsvanath, Aerens
and BPTP have officially understood the capability of these shopping centers. To
offer something new to the clients, engineers have been trying different things with
various retail designs like claim to fame stores, hypermarkets, comfort stores and
grocery stores. New shopping centers are coming up in level II and level III urban
areas. Contrasted with the extensive urban areas, sorted out retailing in residential
communities is developing at a stunning rate of 50 to 55 for each penny. More than
700 new shopping centers are being arranged all over India.
Industry Trend:
● Retailers will need to invest more in their workforce.
● Artificial intelligence will help retailers stay competitive.
● Retailers that offer compelling in-store experiences will flourish.
● Small-format stores will be much more productive.
● Choice and flexibility — particularly at the last mile — will be more
important than ever.
● Virtual assistants and voice search will play a bigger role in the consumer
journey.
● Back office solutions and innovations will be at the forefront for many
retailers.
● Emerging payment options such as mobile and buy now, pay later will gain
traction.
● Geopolitical and economic factors will keep retailers on their toes.
● Sustainability will be a major focus for many.
● Retailers will turn to new metrics to gauge performance.
● Mobile messaging will give many retailers a competitive advantage.
● Bottom line
Self-development author and speaker Brian Tracy famously said, ―
In a time of rapid change, standing still is the most dangerous course of action.
Those words are more relatable than ever, especially in the retail industry. The
landscape is evolving, and your survival depends on how well you adapt. We hope
the predictions in this piece point you in the right direction and give your ideas on
what you need to change in your business and how to get there.
Global Retail V/s Indian Retail:
Large format retail businesses dominate the retail landscape in the United States
and across Europe, in terms of retail space, categories, range, brands, and volumes.
The Indian retail industry cannot hope to learn much by merely looking at the
Western success stories in retail. Their scale of operations are very huge, the profit
margins that they earn are also much higher and they operate in multiple formats
like discount stores, warehouses, supermarkets, departmental stores,
hyper-markets, convenience stores and specialty stores. The economy and lifestyle
of the West is not in line with that of India and hence the retailing scene in India
has not evolved in the same format as the West nor can we learn valuable lessons
from their style of operations. In retailing, the conventional wisdom used to be that
the critical success factor was location. But precise location no longer matters and
geo-demographics are increasingly becoming irrelevant. The leading multiple
chain retailers, superstores and malls create their own centers of gravity, attracting
customers by car, bus, train or even by plane to wherever they are located.
The following factors still pose a challenge for the Indian
retailers:-
● Geographic saturation
The end of the nineties has signified a turning tide of retailer power. The limit to
retail ambition is geographic saturation. Many retailers have started postponing
their store expansion plans. The track record of some of their international store
expansions is also not promising.
● Category killer competition
The threat of saturation is accompanied by a new competition from the low cost
category killers. Specialist competition is eating away at the market share and
forcing down the prices and gross margins of the multiple chains.
● Alternative shopping channels
The newest retail format that is showing growth and is more frightening for
retailers than for consumers, is the internet. The potential for on-line shopping
which is growing questions retailers‘ investments in more physical sites and stores
and makes it imperative that they too explore the new agenda of ‗E-retailing‘ or
‗e-tailing‘.
Industry Size:
Retail market in India is projected to grow from an estimated US$ 672 billion in
2017 to US$ 1,200 billion in 2021F. Online retail sales are forecasted to grow at
the rate of 31 per cent year-on-year to reach US$ 32.70 billion in 2018.
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.
Luxury market of India is expected to grow to US$ 30 billion by the end of 2018
from US$ 23.8 billion 2017 supported by growing exposure of international brands
amongst Indian youth and higher purchasing power of the upper class in tier 2 and
3 cities, according to Assocham.
Investment Scenario:
The Indian retail trading has received Foreign Direct Investment (FDI) equity
inflows totalling US$1.66 billion during April 2000–March 2020, according to the
Department of Industrial Policies and Promotion (DIPP).
With the rising need for consumer goods in different sectors including consumer
electronics and home appliances, many companies have invested in the Indian
retail space in the past few months.
India‘s retail sector investments doubled to reach Rs 1,300 crore (US$ 180.18
million) in 2018. Walmart Investments Cooperative U.A has invested Rs 2.75
billion (US$ 37.68 million) in Wal-Mart India Pvt Ltd.
Government Initiatives:
The Government of India has taken various initiatives to improve the retail
industry in India. Some of them are listed below:
The Government of India may change the Foreign Direct Investment (FDI) rules in
food processing, in a bid to permit e-commerce companies and foreign retailers to
sell Made in India consumer products.
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.
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. India's e-commerce industry is forecasted to reach US$ 53 billion
by 2018. 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.
It is projected that by 2021 traditional retail will hold a major share of 75 per cent,
organized retail share will reach 18 per cent and e-commerce retail share will reach
7 per cent of the total retail market.
Nevertheless, the long-term outlook for the industry is positive, supported by rising
incomes, favorable demographics, entry of foreign players, and increasing
urbanization.
Exchange Rate Used: INR 1 = US$ 0.0159 in FY19.
Because of the growing size of the Retail Industry in India
the growth in the GDP of the country is noticed which could
be made understood through following graph:-
Target Market:
Retail Categories: Target Markets Served:
The first classification looks at the type of markets a retailer intends to target.
These categories are identical to the classification scheme we saw in the
Distribution Decisions Tutorial when we discussed the levels of distribution
coverage.
● Mass Market:
Mass market retailers appeal to the largest market possible by selling products of
interest to nearly all consumers. With such a large market from which to draw
customers, the competition among these retailers is often fierce.
● Specialty Market:
Retailers categorized as servicing the specialty market are likely to target buyers
looking for products having certain features that go beyond mass marketed
products, such as customers who require more advanced product options or higher
level of customer service. While not as large as the mass market, the target market
serviced by specialty retailers can be sizable.
● Exclusive Market:
Appealing to this market means appealing to discriminating customers who are
often willing to pay a premium for features found in very few products and for
highly personalized services. Since this target market is small, the number of
retailers addressing this market within a given geographic area may also be small.
Who should be your target market is explained below
through the following chart:-
Types of Retail Competition:
Competition in retail is fierce, but there are different types of retail competition -
intertype, intratype, and divertive - and what each means.
Drugstore Wars:
The battle of the drugstore brands is big business in the United States - more than
$250 billion, to be exact. And, its key players are stores you probably see on just
about every corner in your community, Walgreens and CVS.
Both stores match up category-for-category with each other, from cosmetics to
household items to prescriptions.
To the average consumer, this type of competition simply looks like one brand
versus another. And, it is. But, it also represents one of the major types of
competition that exists in the retail landscape, known as intratype.
Following are the Types of Retail Competition:
Whether it's drugstore versus drugstore or drugstore versus superstore, there's a
retail competition classification to represent it. Retailers are classified as a
particular ''type'' by the North American Industrial Classification System (NAICS).
These classifications are determined for the purpose of looking at retail data in the
United States economy. For example, if researchers want to look at how
single grocery stores in the country are performing, they can go to that
classification and gather relevant information. Here are the main categories of
retail competition.
Intratype:
In the opening scenario, we saw an example of the intratype category of retail
competition. This iswhen two or more of the same type of store competes against
each other to earn the business of consumers. It might be two drugstores competing
against each other or a cluster of grocery stores in the same community fighting for
the same pool of customers.
Intratype competition is the most common form we find among U.S. businesses.
You don't often see a CVS trying to take on a superstore like Walmart. Instead,
they focus their energies on trying to be the best of the drugstore chains. Some
other examples of intratype competition include Kroger versus Publix, Family
Dollar versus Dollar General, Petco versus PetSmart, or Macy's versus Belk.
Intertype:
Competition that falls under the intertype category pits two or more different types
of stores against each other for the same customers. Again, this relies on the way
the stores are classified by NAICS, such as a drugstore competing against a
superstore. These retailers, even though they are different, sell similar products.
For example, when you go into a grocery store these days, you might have options
to buy fresh flowers, decorated cakes, or a greeting card. In this way, grocery stores
are competing with florists, bakers, and dedicated greeting card stores like
Hallmark.
Some other examples of intertype competition include Target's new partnership
with Barkbox, toys and treats for pups, competing against the Petcos of the world,
or Kroger featuring the OPI line of nail polish hoping to pull customers from stores
like Sephora and Ulta. Walmart, because it carries so many different kinds of
things, might find itself in competition with AutoZone for car parts, JoAnn Fabric
and Craft Stores for its fabric and craft supplies, or Walgreens for prescriptions and
wellness products.
Divertive:
The final category of retail competition is divertive. Divertive happens when one
retailer tried to divert the consumers to their business from their competitors, It
could take place between similar retailers and between retailers that are different.
Major Players of Hypermarket in India:
● Shoppers Stop Ltd.
Shoppers Stop is an Indian department store chain, owned by the K Raheja
Corp Group. There are 83 stores across 38 cities in India, with clothing,
accessories, handbags, shoes, jewellery, fragrances, cosmetics, health and
beauty products, home furnishing and decor products.
Major Details about the company:-
Type: Public
Traded as: (BSE: 532638)
Industry: Retail
Founded: 1991
Headquarters: Mumbai, India
Area served: India
Key people:-
o B. S. Nagesh (Chairman)
o Rajiv Suri (MD & CEO)
Services: Premium Departmental Store
Revenue: ₹19.30 billion (US$280 million) FY 11-12
Number of employees: 14,000+
Parent: K Raheja Group Website: www.shoppersstop.com
● Big Bazaar:
Big Bazaar is an Indian retail chain of hypermarkets, discount department stores,
and grocery stores. The retail chain was founded by Kishore Biyani under his
parent organization Future Group,(now acquired by Reliance retail) which is
known for having a significant prominence in Indian retail and fashion sectors.
Big Bazaar is also the parent chain of Food Bazaar, Fashion at Big Bazaar
(abbreviated as fbb) and eZone where at locations it houses all under one roof,
while it is sister chain of retail outlets like Brand Factory, Home Town, Central,
eZone, etc.
Major Information about the company:-
Type: Private
Industry: Retail
Founded: 2001; 18 years ago
Founder: Kishore Biyani
Headquarters: Mumbai, Maharashtra, India
Number of locations: 256 stores nationwide (August 24, 2017)[1]
Area served: India
Key people:-
o Sarvesh Shivnath Shukla (Founder)
o Sadashiv Nayak (President & CEO)[2]
o Umashankar Shukla (Director)
Products:-
Electronics, Movies and music, Home and furniture, Home improvement,
Clothing, Footwear,
Jewellery, Toys, Health and beauty ,Pet supplies, Sporting goods and fitness, Auto
Photo finishing.
Craft supplies, Party supplies, Grocery.
Services:-
o Future Pay
o Parent
o Future Group
Website: bigbazaar.com
● DMart :
Avenue Supermarts Ltd., doing business as, DMart is a chain of hypermarkets in
India founded by Radhakishan Damani in the year 2002.[1] As on 11th of July
2020, it had 186 stores across India in the states of Maharashtra, Andhra Pradesh,
Telangana, Gujarat, Madhya Pradesh, Chhattisgarh, Rajasthan, National Capital
Region, Tamil Nadu, Karnataka, Uttar Pradesh and Punjab.
Major Details about the company:-
Trade name: DMart
Type: Public
Traded as: BSE: 540376
NSE: DMART
ISIN: INE192R01011
Industry: Retail
Genre: Supermarket
Founded: Powai, Mumbai, Maharashtra (15 May 2002; 17 years ago)
Founder: Radhakishan Damani
Headquarters: Anjaneya Cooperative Housing Society Ltd, Orchard Avenue,
Powai, Mumbai, Maharashtra,
India
Number of locations: 186 (July 2020)
Area served: India
Revenue: $2.71 Billion (FY19)
Net income: $133.84 million (FY19)
Website: dmartindia.com
Competitive Advantages:
Though competitors continuously try to weaken these advantages, successful
retailers sustain these advantages by building strong cover against them. In
nutshell, building a sustainable competitive advantage is the path to survive for
long.
Retailers throughout the globe basically have seven key areas to develop
sustainable competitive advantage:
1. Customer Loyalty:
Loyal customers are long-term assets for a retail organization. They have an
emotional bond with a retailer and regularly visit the retailer. From a retailer‘s
point of view, customer loyalty means that customers are committed to purchase
merchandise and services as and when required from the retailer with resistance to
competitors' move. To retain loyal customers is not an easy task.
It requires dedicated floor staff, efficient customer service and unique merchandise.
For example, loyal customers will continue to shop at ‗Subhiksha Mobile‘ even if
‗go mobile‘ opens a store nearby and offers low price policy and gift packs with
every purchase.
2. Store Location:
The selection of location for a retail store is one of the most crucial strategic
decisions a typical retailer makes. Since most of the retail sales in India take place
at stores, utmost care should be taken before taking a site location decision. A good
location not only reduces distribution cost to a considerable extent but also attracts
more customers. No matter what quality merchandise a store offers, customer
service or attractive pricing, every retailer has to compete over three success
elements: location, location and location. Therefore, before making a decision
about a particular location, retailer should go through the detailed locational
analysis considering various factors, like financial, political and socio-cultural
forces. A retailer should understand that a store location decision is a long- term
strategic decision, which is irreversible and cannot be changed once decided upon.
A good location reduces day-to-day loading, unloading and distribution cost.
Consequently, extreme care and proper planning is essential
to select the most suitable location.
Store location decisions ultimately decide the future and overall profitability of the
organization. Not only in the retailing organizations but ideal location is required
for non- retailing organizations too. Buying a good location does not only assure
success, but undoubtedly it is a must for smooth flow and accomplishment of
day-to-day operations like loading and unloading of goods etc. Therefore, it is
advisable that utmost planning should be taken care of. Retailers must understand
that each individual is a case in itself.
3. Human Resource Management:
Human resource management plays a vital role in success of retailing. Despite
technological advancements, retailers still rely on people (human resources) to
perform the fundamental retail activities such as procurement, displaying
merchandise and providing service to customers. Retailers know the importance of
hardworking and loyal employees. Committed employees are critical assets to the
retailers. Recruiting and retaining good employees have never been an easy task.
No two employees are akin in their basic mental abilities, skills, personality,
intelligence, energy levels, interests, aspirations etc. Depending upon these, they
behave differently in same set of circumstances. Therefore, managing human
resource is always a challenging task for a retailer or store manager. But by the
way of understanding employees‘ problems, developing, motivation and by
providing appropriate incentives, retailers/store managers can gain competitive
advantage.
4. Distribution and Information Systems:
All retailers wish that they should supply exactly the same quality, quantity and
price what their customers need. They take all possible steps to supply the goods
well in time and at prices which are lesser than their competitors. Some retailers
instead of using low price policy provide additional facilities (margin) to lure
customers such as wide merchandise assortments under one roof, even better
customer service and visual presentations. Retailers achieve these efficiencies by
way of developing error free and latest distribution and information systems
network.
An efficient distribution and information system has two benefits for
customers:
(1) fewer stock outs, and
(2) Assortment of merchandise that customers want, where they wish to, for a
retailer (store manager, these benefits translate into increased sales, higher
inventory turnover, and lower mark downs.
For example, Wal-Mart being a largest retailer in the world has the largest data
warehouse enabling its vendors like Proctor & Gamble to plan merchandise
assortments on a store- by-store, format-by- format and category-by-category
basis. This is the efficiency of Wal-Mart‘s distribution and information system that
makes its retailers possible to offer low cost merchandise across the globe perhaps
the secret of Wal-Mart‘s success in the world of retailing.
5. Unique Merchandise:
Technological advancement, borderless economies and free flow of goods across
the countries have enabled a retailer to procure any good and sell it in their stores,
whenever and wherever they want, but in order to keep themselves ahead in the
retailing race, many retailers get competitive advantage through development of
personal/private/store brands.
These products are designed, produced and marketed exclusively by the retailer
and are sold by that retailer only. For example, if someone want to buy ‗Star and
Sitara‘ cosmetics, you can buy it from
Pantaloon.
6. Vendor Relations:
Having good vendor relations is another key to the success of retailing. Successful
retailers develop strong relationships with their vendors and get competitive edge
over competitors under following ways:
(i) By obtaining special selling rights to sell merchandise in a particular region
where they have monopoly bird position.
(ii) To obtain special terms/conditions rights that are not available to competitors
who lack good vendor relations and
(iii) To obtain popular/fast moving merchandise in short supply/short notice. The
longer the relationship exists, the longer the competitive advantage retailers will
get.
7.Customer Services:
Good customer service has today become an integral part of the retail industry. In
retailing, where floor staff has to directly interact with the customers, customer
service acts as lifeblood. With the sales promotion and lucrative offers you can
increase the temporary sales but out of these customers if half or some of the
customers do not come back then your store will not survive for longtime.
Good customer service is intended to bring back these customers voluntarily and
then sending back with smiling faces. Smiling faces means after buying something,
they have good feedback about your store. Even in some cases, they recommend
your stores to others for shopping by sharing their good experiences. Yes, this is
always possible. It is the mouth advertisement which multiplies your
customer base within a short span of time. Good floor staff does not mean that you
can sell anything to anyone, but it will be your image in the minds of the customers
that decides whether or not you can sell something to them.
The image is largely influenced by the service provided by the floor staff and the
experience of the customers with them. A satisfied customer is bound to tell others
about his experiences, as will a dissatisfied customer.
The strength of good customer service is to develop a long lasting rapport with
customers – a link that individual customer feels that he would like to pursue in the
coming time. How you develop such a long term relationship depends on your
intention and perseverance. Remember that the secret of forming good relationship
is the customer service with full dedication and without any greed. By this
way, you will be known by what you do, not what you say to customers.
COMPANY PROFILE
Gagandeep Trading Company Pvt. Ltd.
Introduction:
Gagandeep trading company is a leading local retail store in its area which operates
under the subname of Khalsa Kirana Store. It is a one stop solution for all your
daily need items and it offers high quality products across multiple categories such
as grocery, personal care, cosmetics, agri products etc.The goal of this company is
to make the aspirations of our customers affordable. Having said that, people at this
firm do everything that they can to take them nearer to their goal. Our proposition
-best price, best assortment and best quality makes them unique among the
thousands of customers who give them a chance to service them daily.
The key features that have shaped in establishing of firm includes: -
● It offers a wide variety of products and clearly understands the needs of its
customers.
● They maintain their quality levels to the highest so that every single
customer leaves them with a smile.
● It follows the concept of value retail in India.
● This firm targets the middle class consumer base which is in fact, the largest
consumer group in India.
Key people in the Organization :
● Late Mr. Baldev Singh (founder)
● Mr. Sukhpal Singh (co-founder)
● Mr. Prabhjot Singh (Store Manager)
Vision :
The vision of this company was established by Late Mr.Baldev Singh who wanted
to provide best quality products to all the people across India. And today, that same
vision is carried forward by his son, Mr.Sukhpal Singh. Their mission is to supply
best quality goods and best prices across India.
Products :
FMCG
Catering to all daily needs such as :
● Grocery and Staples
● Packed food
● Branded personal care
● Household products
Organizational Structure:
● Owner
● Store Manager
● Inventory Manager
● Sales Staff
● Stock handling staff
SWOT Analysis :
Strengths
The location of your grocery shop is your strength. You must choose it wisely. It
must be reachable for public transport especially. Your target audience offline is the
public residing within a distance of 5 kilometres. If you keep the items of their
need in your store and they like your products and service. It will show good
results to you soon.
Weakness
A major weakness is that you can invest in a grocery store according to the finance
you have but you might not be able to compete with the multi-brand department
stores selling grocery items as well. Their strategies attract the public more. The
public would like to go to a store that offers a wide range of products.
Opportunities
The opportunity that is available to a grocery shop entrepreneur is that you can sell
grocery items to a large number of customers if not offline, then online for sure.
You can explore the feasible studies and survey the market first and then start the
grocery shop business in your city. You will get to know the reviews and
expectations of the customers nearby.
Threats Of Departmental Store
Every new business has a major threat of competition and business failing. The
major threat is that your business may face an economic breakdown. Another
threat can be the opening of another grocery shop adjoining your shop or nearby. It
may attract all your customers. But if your customers have stayed satisfied, they
will buy from your only.
Job and Responsibilities
As soon as my internship started , I was handed over my work and responsibilities.
My responsibilities were as follows :
● Manage and interact with customers to help them find their products and
essentially sell them those products.
● Making sure that all the products are correctly placed on the shelves and are
clearly visible to the customers.
From the very first day of my organizational visit, I had great sense of
observation about the process and the layout system. When I was working at
the store, I had a sensible observation about the customers are manipulative
and it was advised to me that I should have a proper knowledge of the
product before I go and talk to the customer and try to sell it to them.
I keenly observed the way the head of the wing deals with the customers and
turn the angry customers into the mirthful customer, how to handle situation
at the time of achieving the target. I observed that how the knowledge about
gives you ground to defend yourself even in the situation of losing game. the
most important thing I observed is that never sacrifice the organizational
policy for entertaining the customer because policy stand tall. Robust team at
the dept can achieve the overwhelming result and the channel partners are the
key to success of your business.
Dealing with customers was an interesting task for me as people are of
different sorts, different behavior and different mindsets. I encountered a lot
of stubborn customers who were not ready to cooperate with me or listen to
what I had to say. On the flip side, I also found people who were nice enough
to patiently listen to me and in many instances even buy what I was selling.
Problems :
Here are some problems which I believe were harming the organization’s
ability to work at its peak performance.
● Low variety of product available and customization of products is not there.
● Prices are not mentioned at all places and at all products.
● Prices are not much competitive as they are assumed to be higher when
consumers are visiting other retail outlets.
● Personal care items are not sufficient and they are not much available at
many stores.
● Lack of space in the store while shopping and moving within a store.
● No proper accounting system to keep track of sales and revenue.
● Staff was not properly trained in order to deal with the customers.
Suggestions for the company
Following are the recommendations on basis of study conducted:-
● Customer facility should always be under watch.
● Store should provide free home delivery facility.
● Company should ensure that quality and quantity of the commodity is
accurate.
● Generate employment in that area in which the retail store is situated.
● Company should provide regular training to their staff and aware them with
the moderate technique of selling and customer dealing.
● To be improved the parking facility.
● Range of products should be maintained.
● Pricing of products compared to other stores should always monitor.
● Freshness and quality of products should be always checked.
● Teach the counterman how to behave with the customer and maintain
courtesy and helpfulness of store staff.
● There is always a lot of crowd at the weighing counter of the stapple section.
People do not follow queue system but charge directly to the counter without
considering that other people are in the line. The placement of the weighing
counter is also not appropriate, creating lot of inconvenience of shopping.
● Proper packaging and provide contrast labeling in displays of product.
● Proper power back up as air conditioners are not working to their full
capacity at many stores.
● Should provide more festival schemes and at proper time.
● Should use psychological pricing-more discounts by increasing the price.
Key Learnings :
Following are my key learning:-
● In-depth knowledge of Company‘s workings.
● Awareness of the difference between the theoretical knowledge and the
practical workings of the company.
● Knowledge of Company‘s policies.
● Motivates to work as a team member.
● The various designations in an organization, the respective work profiles and
the interdependence among them.
● Learned how to effectively generate sales.
● It helps to understand how to tackle work pressure and meet dead lines.
● Awareness about the shrinkage control policy of the company.
● Knowledge about how to handle customer grievances.
● Awareness about the return policy of the company.
● Awareness about the various product categories the company is offering.
● Awareness about the liquidation policy of the company.