1. INTRODUCTION To retail Industry.RETAIL INDUSTRYIn the Indian retailing industry, food is the most dominating sector and is growing at a rate of 9% annually. India retail industry is progressing well and for this to continue retailers as well as the Indian government will have to make a combined effort. The branded food industry is trying to enter the India retail industry and convert Indian consumers to branded food. Since at present 60% of the Indian grocery basket consists of non- branded items.India retail industry is expanding itself most aggressively; as a result a great demand for real estate is being created. Indian retailers preferred means of expansion is to expand to other regions and to increase the number of their outlets in a city. It is expected that by 2010, India may have 600 new shopping centers.The Indian retail market, which is the fifth largest retail destination globally, according to industry estimates is estimated to grow from the US$ 330 billion in 2007 to US$ 427 billion by 2010 and US$ 637 billion by 2015. Simultaneously, modern retail is likely to increase its share in the total retail market to 22 per cent by 2010. Continuing the robust growth of the organized retail in India, according to the Credit Rating and Information Services of India, the industry raked in US$ 25.44 billion turnover in 2007-08 as against US$ 16.99 billion in 2006-07, a whopping growth rate of 49.73 per cent. India retail industry is the largest industry in India, with an employment of around 8% and contributing to over 10% of the country's GDP. Retail industry in India is expected to rise 25% yearly being driven by strong income growth, changing lifestyles, and favorable demographic patterns."The story is not about us, but this story is about the people who visit our stores. This is a proud moment for India." One of the biggest retail here in India we know is Kishore Biyani’s big bazaar. The company ended 2007-08 with Rs5048crore in revenue. Biyani's and Big Bazaar's, march comes at a time when several new retailers are slowing expansion, reducing the number of outlets, effecting layoffs, even exiting the business. By 2011, he claims, there will be 300 Big Bazaars, and Pantaloon Retail (India) Ltd, his flagship, will have revenue of Rs13000crore.Thus here we will know about the company profile, operations and also about the consumer behavior towards the schemes, discount, etc which are offered by the store to facilitate customers.PRODUCT LINEHere, one finds over 170,000 products under one roof that cater to every need of a family, making Star Bazaar India’s favorite shopping destination. Where STAR Bazaar scores over other stores is its value for money proposition for the Indian customers. Star Bazaar, one finds a huge variety of products to select from with a good price and quality. With the ever increasing array of private labels, it has opened the doors into the world of fashion and general merchandise including home furnishings, utensils, crockery, cutlery, sports goods and much more at surprisingly low prices. In recent years, Star Bazaar has adopted value pricing in which they win loyal customers by charging a fairly low price for a high – quality offering. However, consistent low price for the products is not only the universally desired characteristic. Pricing Strategy Beginning |
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Star Bazaar for a shopping spree|
Hypermarkets offer customers a value equation that includes quality and convenience in an unbeatable combination|
Hypermarkets like Star Bazaar are changing the way people shop for their groceries and household essentials. People who used to visit the local shops and vegetable markets frequently are now buying at hypermarkets such as Star Bazaar that offer customers a variety of products at affordable prices, in a comfortable environment. But while affordability is a big factor for customers, they also seek value and quality which they know they...