Adding big values
Big Bazaar is the part of Future Value Retail Limited, which is a wholly owned subsidiary of Kishore Biyani-led Pantaloon Retail. The entity is comprised of Big Bazaar and Food Bazaar.
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Marketing initiatives
The stress is on customer connectivity, experimenting with product, service and design inovation to bring in fresh thoughts offerings and values. Marketing initiatives are innovative enough to ingrain local culture to market the brands, for example, Bengal’s local folk singers (baul) composing songs on Big Bazaar and singing them in trains to thousands of commuters. The purpose is to create a value-based people driven culture which is flexible enough to adapt to the changing trends.
Technology initiatives
The reinforcement of systems like Warehouse Management System, Put-to-light and the Auto- Replenishment systems have made the availability at stores goes up to 90 per cent. The strong network is built upon 1600-strong fleet, 12 transportation hubs and 40 branches nation wide.
Training programmes
The “Happyness Index” has been introduced as the company believes that happiness of an employee can produce better results. Besides, there are Store Manager Development Programme; Leadership Excellence Advancement Programme for area managers; PRISM, a talent pipeline identification programme; Genesis for management trainees; Seekho and Shishya programmes to encourage higher studies among employees.
Quick Facts
Year of first store launch: 2001
Total retail space covered: 6.88 million sq ft
Annual turnover (Future Value Retail Ltd): Rs 2991.71 crore (for the year ended June 30, 2010)
Profit after taxation (Future Value Retail Ltd): Rs 50.60 crore
Growth of FMCG private brands: 75%
Growth of value fashion: 22%
Contribution by fashion: Fashion@Big Bazaar contributing close to 30% of Big Bazaar sales
Share of merchandise sold during non sale period: 86%
Modern retail stands on two pillars; one is scale, which we believe we are more or less achieving in the four key categories and in our geographical presence. The other pillar is the efficiencies, which is a function of how we handle this scale and supply chain.
Kishore Biyani, Managing Director, Pantaloon Retail (India) Ltd
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