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Wip project on pantaloons
- 1. WINTER INTERNSHIP REPORT <OPTIMISING STORE OPERATIONS> done at <PANTALOONS FASHION AND RETAILS INDIA LTD.> 1 | P a g e
- 2. CONTENTS Sr. No. Particulars Page No. 01 Project Synopsis 05 02 Introduction 06-07 03 Company Profile 08-16 04 Internship Summary 17-18 05 Project Description 19-24 06 Analysis And Interpretation 25 07 Suggestion 26 08 Conclusion 27 09 References 28 2 | P a g e
- 3. 1. PROJECT SYNOPSIS Project Title: Optimising Store Operations Company Name : Pantaloons Fashions And Retail India LTD. Student Name : Akash Sanjay Singh Student Roll No : DM18D54 External Mentor Name and Designation : Deval Shah,Assistant Store Manager Internal Mentor Name : Nilesh Kate Duration of project: 17-Dec-2018 To 18-Jan-2019 Confidential Report (Yes/No) 3 | P a g e
- 4. INTRODUCTION INDUSTRY BACKGROUND India, like Britain, is a nation of shopkeepers. With over 12 million retail outlets, India probably has the highest density of retail outlets in the world, with one for approximately every 90 persons; little wonder that the country is the ninth-largest retail market in the world, with estimated annual retail sales of around USD215 billion in 2005 (Rs960,000 crore). At the same time, the share of organised trade in this enormous market is currently very small. It is estimated at just USD8billion (Rs 35,000 crore) in 2005, up from USD6.25 billion (Rs 28,000crore) in 2004. This accounts for less than 4 per cent of the total retail trade in the country. 4 | P a g e
- 5. AN UNDERDEVELOPED RETAIL MARKET Organised trade in India is very underdeveloped when compared with other emerging markets in Asia, Latin America and Eastern Europe. The Indian and Chinese markets are comparable in many aspects: Both countries are not homogeneous. They comprise many markets within a single country, with significantly varying cultures and customer preferences across regions. There is a significant rural population in both countries, which has much lower purchasing power compared to the urban population. Both countries are geographically very large and unevenly developed, adding a significant distribution and logistics dimension to the retail trade. Consumers in both countries are highly value conscious. Retailers inspired by the Wal-Mart story of growth in small town America are tempted to focus on smaller towns and villages in India. However, a careful analysis of the town strata-wise population, population growth, migration trends and consumer spend analysis reveals a very different picture for India. As per our estimates, the share of the 35 towns with a present population of greater than 1 million in India's total population would grow much faster than their smaller counterparts, from 10.2 per cent. Today to reach 14.4 per cent by 2025. Simultaneously, the share of these towns in the overall retail market would grow from 21 per cent today to40 per cent by 2025. Within these top 35 towns, an estimated 70 to 80 per cent of retail trade could be in the organised sector. This is similar to the experience in China, where in cities like Shanghai and Beijing, the organised sector accounts for 70 to 80 per cent of overall retail tradein certain categories. Retailers should therefore focus on the top 37towns in the next decade, as the opportunity in smaller towns and rural India would be smaller and more fragmented, compared to the larger towns. COMPANY PROFILE 5 | P a g e
- 6. Voted as 'India's Most Trusted Fashion Retailer,' (Brand Equity Survey of The Economic Times 2016/2017), Pantaloons, a division of ABFRL has always been one of the most loved large format fashion retailers in India. Pantaloons began in 1997 as a Future Group company in the quest to equip the emerging Indian middle-class with an indigenous fashion retail format. Consistent with the times, the model was of a discount fashion retailer. Post-acquisition by the Aditya Birla Group, significant investments were made focused on store up gradation, expansion, deeper pan-India penetration, portfolio enrichment, brand building and organisation processes to lay the foundation for its future growth. The brand is now present in 136 Indian cities/towns. Pantaloons offers a wide range of brand offerings across apparel and non-apparel categories and across varied price points.It operates across categories of casual wear, ethnic wear, formal wear, party wear and active wear for men, women and kids. Women’s wear is the lead category contributing to half of the total apparel sales. Non-apparel products include footwear, handbags, cosmetics, perfumes, fashion jewellery and watches. Pantaloons enjoys a loyal customer base of 10.0 million (as of 31st March 2018), which is one of the largest among apparel retailers in the country. It runs its own four-tier loyalty programme called "Greencard". The comprehensive marketing strategy of Pantaloons is a mix of traditional and new-age communication. It also exploits digital media to reach out to the Internet community. 6 | P a g e
- 7. Additionally, it runs varied store and brand launch events and promotions, besides corporate tie- ups to enhance brand visibility and recall. ADITYABIRLAFASHIONAND RETAILLIMITED RETAILS OVER 200 BRANDS CHAIN OF 275 FASHION STORES ACROSS 136 CITIES & TOWNS RETAIL SPACE 3.80 MILLIONSQUARE FEET 7 | P a g e
- 8. Aditya Birla Fashion and Retail Limited (ABFRL) emerged after the consolidation of the branded apparel businesses of Aditya Birla Group comprising ABNL's Madura Fashion division and ABNL's subsidiaries Pantaloons Fashion and Retail (PFRL) and Madura Fashion & Lifestyle (MF&L) in May 2015. Post the consolidation, PFRL was renamed Aditya Birla Fashion and Retail Limited. ABFRL brings together the learnings and businesses of two renowned Indian fashion icons, Madura Fashion & Lifestyle and Pantaloons Fashion and Retail. ABFRL is India's No 1. Fashion Lifestyle entity with a combined revenue of Rs.7,181 crore for FY 2018 and EBITDA of Rs.501 crore for FY 2018. Company’s vision 8 | P a g e
- 9. Future Group shall deliver Everything, Everywhere, Every time for Every Indian. Consumer in the most profitable manner. Company’s Mission We shall infuse Indian brands with confidence and renewed ambition. We shall be efficient, cost- conscious and committed to quality in whatever we do. We shall ensure that our positive attitude, sincerity, humility and united determination shall be the driving force to make us successful. Core value: Indianness: confidence in ourselves. Leadership: to be a leader, both in thought and business. Respect & Humility: to respect every individual and be humble in our conduct. Introspection: leading to purposeful thinking. Openness: to be open and receptive to new ideas, knowledge and information. Valuing and Nurturing Relationships: to build long term relationships. Simplicity & Positivity: Simplicity and positivity in our thought, business and action. Adaptability: to be flexible and adaptable, to meet challenges. Flow: to respect and understand the universal laws of nature PRODUCT DETAILS 9 | P a g e
- 10. Pantaloons have its own in-house brands and also non-Pantaloons brands. The Pantaloons brand are helping them to keep continuing the competing themselves in the market and the non- Pantaloons brands helps to increase or sustain the conversion rate. Currently Pantaloons has almost 24 in-house brands and over 200 licensed international brands. Here is the list of in-house and non- pantaloons brands. In House Brands Men Women Western Women Ethnic Kids BARE HONEY RANGMUNCH CHIRIPE PIE SF AJILE ALTOMODA POPPERS ALTOMODA ALTOMODA TRISHA BARE JM SPORT FOREVER GLAM AKKRITI CHALK RIG IZABEL AJILE ANNABELLE BYFORD BARE SPIRITUS SF BYFORD DREAMZ URBAN EAGLE RICHARD PARKER INDUS ROUTE Non In House Brands MEN WOMEN WESTERN WOMEN ETHINIC Allen Solly 109’F BIBA Wrangler Kraus Jeans W Van Heuse Zink London Global desi United colors of Benetton Levi’s Fusion Beats Turtle AND Spykar Jealous 21 Peter England Chemistry 10 | P a g e
- 11. Moustache Pepe jeans Pepe jeans Monte catlo Lp jeans Louis Philippe John miller Arrow sport Basics Levi’s BlackBerrys Cellio Flying machine Indigo Nation John players A Snapshot of the financial performance of the company ABFRL during the last 5 years (2013-2017): Net revenues: Rs 6602.86 crore (FY17) EBITDA Margin: 4.13 (FY17) EPS Ratio : 0.69 (FY17) Revenue from operations: Rs 6557.77 cores Net Sale Growth 9.43% EBITDA Growth 17.47%` EBIT Growth (%) 169.79 PAT Growth (%) 148.75 EPS Growth (%) 148.64 11 | P a g e
- 12. MILESTONES TO SUCCESS 1987 - Company incorporated as Manz Wear Private Limited. Launch of Pantaloons trouser, India’s first formal trouser brand. 1991 - Launch of BARE, the Indian jeans brand. 1992 - Initial public offer (IPO) was made in the month of May. 1994- The Pantaloon Shoppe–exclusive menswear store in franchisee format launched across the nation. The company starts the distribution of branded garments through multi- brand retail outlets across the nation. 1995 - John Miller- Formal shirt brand launched. 1997 - Pantaloons–India’s family store launched in Kolkata. 2001 -Big Bazaar, ‘Is se sasta aur accha kahi nahin’-India’s first hypermarket chain launched. 2002 - Food Bazaar, the supermarket chain is launched. 2004 – Central Shop, Eat, Celebrate in the Heart of Our City’-India’s first seamless mall is launched in Bangalore. 2005 - Fashion Station–the popular fashion chain is launched ALL‘a little larger’ – exclusive stores for plus-size individuals is launched. 2006 -Future Capital Holdings, the company’s financial arm launches real estate funds Kshitij and Horizon and private equity fund Indivision. Plans forays into insurance and 12 | P a g e
- 13. consumer credit. Multiple retail formats including Collection I, Furniture Bazaar, Shoe Factory, EZone. 2007-Pantaloon Retail wins the International Retailer of the Year award at US-based National Retail Federation convention in New York, and Emerging Retailer of the Year award at the World Retail Congress held in Barcelona. 2008- the big bazaar crosses the 100-store mark, marking one of the fastest expansion of the hypermarket format anywhere in the world. 2009-Pantaloon Retail celebrates its first Shopping Festivalacross all retail formats in key Indian cities AWARDS & RECOGNITION MOST ADMIRED RETAILER OF THE YEAR: Pantaloons bagged the IMAGES 'Most Admired Retailer of the year’ in view of its Enterprise Solution Implementation which seamlessly incorporated KPIs for a retail business. RECOGNITION FROM BRAND PARTNERS: Pantaloons was awarded as the Best Fashion Retail Partner by Sweet Dreams and appreciated by Triumph for providing the Best Business Support in the large format stores category for 2017. IMAGES FASHION AWARDS 2018: Bagged the IMAGES Most Admired Affordable Fashion Retailer of the Year 2017 Second year in a row. VM&RD AWARDS 2018: Pantaloons has been recognized as India’s Most Trusted Fashion Retailer in the Brand Equity survey of The Economic Times 2016-2017. 13 | P a g e
- 14. CUSTOMER LOYALTYAWARDS 2018: Pantaloons bagged 2 awards atthe Customer Loyalty Awards 2018: 1)Best Use of Social Media to Enhance Loyalty—Pujo, Diwali and EOSS Videos. 2)Best Regional Loyalty Marketing Campaign—The longest "Alpona" during Pujo. INTERNSHIP SAMMARY: Induction program conducted by Deval shah Ma’am (Assistant store manager) and Javed sheikh sir (Store Manager) they told me about the functioning of the organization and about the growth of the retail industry. In addition to this, the guided me regarding how to perform task, how to greet customers and how to pitch then. Deval Ma’am also shares her experience and her learning from them. She told me that customers are everything thing for them and as so they should be well provided with the services there in. They assigned me to do 600 Tally calling per day of Pantaloons 5 or 7 Star customers for end of season Sale. From 17th December 2018 to 24th December 2018 I had talked to around 4000 customers and invited them for End of season’s sale which was started from 25th December 2018 . In this sale, they could enjoy free shopping worth Rs.6000 on purchase of Rs.6000 across entire range of Pantaloons exclusive brands (in house brands). Appreciated by regional business manager and customers for this task. 25th December 2018 onwards Deval Ma’am gave me a responsibility to handle cash counter. I handled cash count from 25th December 2018 to 17th January 2019. 14 | P a g e
- 15. Deval Shah ma’am (External Mentor) was very helpful for providing the information whenever I required and motivated me in selling. The flour staffs taught me how to do and convenience the customers. LEARNING Here are the learning points by me: 1. Importance of customer Satisfaction in Retail 2. Handling the customer on the floor and increase sale 3. Making good relationship with the customers. 4. Ground level works like folding, counting, tagging, hanging 5. about Visual Merchandising 6. A little about warehousing 7. Billing at cash counter 8. Data entry at customer data base 9. Exchange process FINDINGS: 15 | P a g e
- 16. 1. Segregation by offer and size display is most important thing for Increase conversion rate 2. Customer interaction is also plays a major role in increasing Basket size 3. Offer display should be done properly 4. Pantaloons has the value pricing method in organized retail 5. Team work has an important role in managing rush time. PROJECT DESCRIPTION Project Title: OPTIMISING STOTRE OPERSTONS Research Methodology: Research is an organized and systematic way of finding answer to question. SYSTEMATIC: Because there is a definite set of procedures and steps which you will follow. There are certain things in the research process which are always done in order to get the most accurate result. ORGANIZED: In that there is a structure or method in going about doing research. It is a planned procedure, not a spontaneous one. It is focused and limited to specific scope. FINDING ANSWER: Is the end of all research. Whether it is the answer to a hypothesis or even a simple question, research is successful when we find answer. Sometime the answer is no, but it is still an answer. 16 | P a g e
- 17. QUESTIONS: Are central to research. If there is no question, then the answer is of no use. Research is focused on relevant, useful. And important questions. Without a question, research has no focus, drive, or purpose. SAMPLE SIZE: Sample size was 100 Respondent SAMPLING PERIOD: Sampling period given was just 20 days DATA COLLECTION: Questionnaire is designed and done survey within the store 1. Gender 2. Are you aware of the pantaloons Brand? Gender Female 45% Male 55% 17 | P a g e
- 18. Yes No 3% 97% 3. Through which media do you get awareness about End of Season sale(EOSS)? Newspaper Hoarding Friends & Relative Calling SMS 8% 9% 33% 33% 17% 4. What comes to your mind when you mean about Pantaloons? 18 | P a g e
- 19. 50% 5% 38% Product quality Store Appearance andatmosphere Discounts & Offers Price and terms of Payment Other 5% 2% 5. How frequently you shop at Pantaloons? 8% 69% Every week Once in Two week Once in threeweek 5% Once in aMonth 18% 19 | P a g e
- 20. 6. Brand and Product availability at Pantaloons Is? 42% 47% Excellent 10% Good Average Poor 1% 7. Are you satisfied with the service facility provided by the Service Staff? 29% 62% Highly satisfied Highly Dissatisfied 5% 4% Satisfied Dissatisfied Neutral 20 | P a g e
- 21. 8. How do you find Pantaloons brand compared to other Competitor? Excellent Good Average Poor Very Poor 12% 28% 60% 9. Are you satisfied with pantaloons service department (exchange, alteration, credit Note?) 40% 52% 7% Excellent Good Average Poor VeryPoor 1% 21 | P a g e
- 22. 69% 16% 10. Does the Price of the product effect on your shopping? Yes No Partially yes 4thQtr 15% ANALYSIS AND INTERPRETATION From the above data we can say that female Customers visiting pantaloons is 55% and male Customers visiting pantaloons is 45% Customers visiting pantaloons are aware about the pantaloons brands and products i.e. 97% customers are aware about the brand at pantaloons. Major source of awareness for customers at pantaloons is Friends and relatives and SMS service provided by the pantaloons i.e. 32% so it should try and focus more on it by sending timely messages to the Customers, followed by 17% by Callings, 10% by hoardings and so on. Customer is quality conscious so Pantaloons should focus more on quality. It is clear from the chart that 50% of the respondents chose quality out of the 100 respondents, whereas 32% think about discounts and offers, 5% are interested in Price and terms of payment The Customers visiting pantaloons is once a month i.e. 69%, 18% Visits once in two weeks which is favorable for the business, 8% visits once in three weeks, and 5% visits every week. 22 | P a g e
- 23. Brand and product availability at Pantaloons is up to the mark. As out of 100 respondents 41 of them liked the excellent option and 46 of them viewed it as good. Service provided by Staff members is good, they are performing their Duties well as 62% of the customers are satisfied with the Service Staff facility and 29% of the Respondents are highly satisfied. Customers find the brand Qualitative, and good as compared to Competitors as 59 respondents out of 100 have liked Good option, and 28 % respondent viewed it as excellent. From the above data awe can say that 52 Respondents out of 100 are satisfied with service department as they marked it good, 40% of them find it excellent which means the service of exchange, alteration are satisfactory. 69% of the respondents are affected by the Price so pantaloons should focus on Price and provide a product with the Price that is reasonable to the customers as they are Price sensitive, 15% of them say partially yes. SUGGESTION: There is no such suggestion for Pantaloons form me as Pantaloons already worked with continuous improvement. But I would like to say they have to improve in something: 1. They should arrange more sit near cash counter so that customers can take Rest. 2. Billing System should be fast more. 3. There should be a set of size in products 4. Should displayed about GST 23 | P a g e
- 24. 5. Offer details should be more proper and well maintained in every browser and Court. CONCLUSION This research report highlights strengths and weakness of pantaloons in order to compete in a smarter way and this research report aims to study consumer’s attitude towards Pantaloons. Major players of Pantaloons are Reliance Trend retail, Big Bazaar etc. and Retail industry in India is growing at a fast pace and Pantaloons captures large market share and should try and get more benefit from it. Recommendations given should also be taken into consideration. More than 65% of the customers come in between the age of 22-35 and according to these data store should give more importance to this segment and attract more customers in order to maximize their revenue and make loyal consumers. Customers should be provided a good billing experience is vital for a retailer. Sometimes Customers get exhausted standing in a queue for long. The factor that affects the customers to the pantaloons, as in the store mainlyfocus on their in house brand availability and value of money. Most of the customers believe that pantaloons have their own branded products and are offering to the customers at reasonable price. 24 | P a g e