Big Bazaar Swot Analysis : Swot analysis Big Bazaar : company profile Big Bazaar

Big Bazaar Company Snapshot:

Big Bazaar is an Indian retail store that operates as a chain of hypermarkets, discount department stores, and grocery stores. The retail chain was founded by Kishore Biyani under his parent organisation Future Group 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.

Founded in 2001, Big Bazaar is one of the oldest and largest hypermarkets chains of India, housing about 250+ stores in over 120 cities and towns across the country.

The Company’s retail formats attracted ~300 million customers during the financial year .Indian’s love shopping along with their families and conversion over all improved to 48% from 45% last year. Customers today live a seamless life between the digital and real world. Customers like to interact with brands before they come shopping and after they have left the shop. This provides a huge opportunity for retailers to engage in multiple ways with customers .Over the course of the last few years, the Company has been investing in multiple initiatives to enliven the conversations before and after they shop at the stores .During the year, hometown.in and fbbonline.in, joinedezoneonline.in as exclusive ecommerce portals of the Company’s retail brands. The Company’s retail formats attracted ~300 million customers during the financial year. Indian’s love shopping along with their families and conversion overall improved to 48% from 45% last year. Customers today live a seamless life between the digital and real world. Customers like to interact with brands before they come shopping and after they have left the shop. This provides a huge opportunity for retailers to engage in multiple ways with customers. Over the course of the last few years, the Company has been investing in multiple initiatives to enliven the conversations before and after they shop at the stores. During the year, hometown.in and fbbonline.in, joinedezoneonline.in as exclusive ecommerce portals of the Company’s retail brands. These provide almost the entire range of merchandize available at the stores, allowing customers to view and research the products before they arrive at the store. Some choose to buy online as well. These provide almost the entire range of merchandize available at the stores, allowing customers to view and research the products before they arrive at the store. Some choose to buy online as well.

Key Facts

The 218 store Big Bazaar chain is now present in 118 cities and covers almost 10 Mn. Sq. Ft. of space. Yet, it continues to be nimble and agile so that continuous innovations can be introduced to create more value and a stronger relationship with customers. Simultaneously, the brand worked on multiple fronts to ensure that its core customer shops more frequently at its stores. Within the food category, the focus was on staples and fresh fruits and vegetables to ensure consistent quality, high availability of core range and regional emphasis. When the price of Tur Dal skyrocketed and made headline news, the chain maintained the price at ` 99 a kilogram thereby recruiting new customers to its fold. The brand also took a leadership position by being among the first to form a partnership with Patanjali and offer its range across all stores.

Strengths in the SWOT analysis of Big Bazaar

1.     High brand equity enjoyed by Big Bazaar

2.     State of the art infrastructure

3.     A vast variety of stuff available under one roof

4.     Everyday low prices, which attract customers

5.     Maximum percent of footfalls converted in sales

6.     Huge investment capacity

7.     Biggest value retail chain in India

8.     It offers a family shopping experience, where entire family can visit together.

9.     Available facilities such as online booking and delivery of goods.

Weaknesses in the SWOT analysis of Big Bazaar

1.     Unable to meet store opening targets on time

2.     Falling revenue per sq ft

3.     General perception: ‘Low price = Low quality’

4.     Overcrowded during offers

5.     Long lines at billing counters which are time consuming

6.     Limited only to value offering low price products. A no of branded products are still missing from Big Bazaar’s line of products. E.g. Jockey, Van heusen,

 

Opportunities in the SWOT analysis of Big Bazaar

  1. A lot of scope in Indian organized retail as it stands at approximately 4%.
  2. Increasing mall culture in India.
  3. More people these days prefer to visit big stores where they can find large variety under one roof.

 

Threats in the SWOT analysis of Big Bazaar
  1. Competition from other value retail chains such as Shoprite, Reliance (Fresh and trends), Hyper city and D mart.
  2. Unorganized retail also appears to be a threat to Big Bazaar’s business. A large population still prefers to visit local convenient stores for daily purchases
  3. Changing Government policies
  4. International players looking to foray India

 

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Author: dwapp