Retail Management: Crossword
This report covers branding as personification, differentiation and identification of Crossword as a book store. The report also talks of comparative study with the competition. Submitted by: Aashish Dua 076B Akshata Bhat 006A Apoorva Sharma 011A Ishan Kaul 022A Pulak Narain 042A Shaunak Mukherjee 129B
1. Background of the retail stores
Crossword, a wholly-owned subsidiary of Shoppers Stop Limited, is the largest bookstore chain in India. Presently, Crossword has 52 stores across Mumbai, Bangalore, Ahmedabad, Ghaziabad, Pune, Vadodara, Kolkata, Chennai, Jaipur, Vishakapatnam and Hyderabad. Crossword came into existence on 15th October 1992. Crossword, positioned as a lifestyle bookstore, has been able to change this by designing large, spacious, well laid out stores, with bright cheerful interiors that encourage people to stay and browse. Simple innovations such as methodical classifications, clear signage, a dedicated enquiry /orders desk, electronic POS and inventory control systems and attractive displays make looking for books a much more pleasurable experience. Crossword ensures that customers are able to browse in comfort for long hours without having to leave. Crossword also addresses a wider audience than existing stores with its unique product mix. There is of course, the widest range of books for the young and old alike, along with magazines, CD-ROMs, music, stationery and toys. With its large children's section and its focus on making the store a friendly, safe, fun-filled place, Crossword attracts many families who normally don't think of visiting bookstores. Services like Dial-a-book, Fax-a-book and Email-a-book enable customers to shop from their homes; and when they come to the store, the unobtrusively helpful staffs assist them in finding the right book, the right CD or the right gift for the right occasion. Facilities like the Crossword Gift Vouchers, the friendly 'Return, Exchange & Refunds' policy, the Cafes within the stores and the unique store experience make it easy and enjoyable for customers to shop at Crossword. Over1,00,000 loyal customers are rewarded through the Crossword Book Rewards Program with points, discounts, promotional offers and more. 'eWords', a monthly e-newsletter with reviews of new books, news about in store events and bestseller lists, is currently mailed to these Members. b. LANDMARK
Landmark is the first large format book retailer in India. Landmark currently has 13 stores, ranging in size from 12,000 sq. ft. to 45,000 sq. ft, with 4 in Chennai, 1 in Bangalore , 1 in Mumbai, 1 in Vadodara, 1 in Gurgaon and 1 in Pune. Landmark was started with an idea of providing a better collection of books under a single roof. During the 1991 Forex crisis in India, Landmark made a bold move and bought all foreign titles from around India. People who looked for these titles ended up knowing Landmark and came here to buy these books as they were available only here. Initially Landmark had problems with then foreign book distributors in India who were reluctant and not cooperative to supply to them. So they started their own distributorship firm – Westland. Today WestLand supplies to 1800 stores. In India pure book stores won’t work from a commercial angle. Book buying has to be made into a shopping experience for the whole family. So a multi product store format works which provides pure entertainment for the entire family. Margins-wise books might still do the best, but they still can not be a stand alone factor for sales. Landmark sold 76% equity to Trent, a Tata Sons company that runs Westside stores in August 2005. This gave protection of brand, staff welfare assured and a cultural...
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