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Address:
Pantaloon Retail (India) Limited, No.18/1 (Old No. 125/A) 10th Main, Ashoka Pillar
Road,Jayanagar
Bangalore, 560011 Other Outlets Tel 1: 91 80 6658 8600
Contact: Click here
Website: http://www.bigbazaar.com/
Future Group
Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of India’s
leading business houses with multiple businesses spanning across the consumption space.
While retail forms the core business activity of Future Group, group subsidiaries are present
in consumer finance, capital, insurance, leisure and entertainment, brand development, retail
real estate development, retail media and logistics.
Led by its flagship enterprise, Pantaloon Retail, the group operates over 12 million square
feet of retail space in 71 cities and towns and 65 rural locations across India. Headquartered
in Mumbai (Bombay), Pantaloon Retail employs around 30,000 people and is listed on the
Indian stock exchanges. The company follows a multi-format retail strategy that captures
almost the entire consumption basket of Indian customers. In the lifestyle segment, the group
operates Pantaloons, a fashion retail chain and Central, a chain of seamless malls. In the value
segment, its marquee brand, Big Bazaar is a hypermarket format that combines the look,
touch and feel of Indian bazaars with the choice and convenience of modern retail.
In 2008, Big Bazaar opened its 100th store, marking the fastest ever organic expansion of a
hypermarket. The first set of Big Bazaar stores opened in 2001 in Kolkata, Hyderabad and
Bangalore.
The group’s specialty retail formats include, books and music chain, Depot, sportswear
retailer, Planet Sports, electronics retailer, Ezone, home improvement chain, Home Town and
rural retail chain, Aadhar, among others. It also operates popular shopping portal,
futurebazaar.com.
Future Capital Holdings, the group’s financial arm provides investment advisory to assets
worth over $1 billion that are being invested in consumer brands and companies, real estate,
hotels and logistics. It also operates a consumer finance arm with branches in 150 locations.
Other group companies include, Future Generali, the group’s insurance venture in partnership
with Italy’s Generali Group, Future Brands, a brand development and IPR company, Future
Logistics, providing logistics and distribution solutions to group companies and business
partners and Future Media, a retail media initiative.
The group’s presence in Leisure & Entertainment segment is led through, Mumbai-based
listed company Galaxy Entertainment Limited. Galaxy leading leisure chains, Sports Bar and
Bowling Co. and family entertainment centre’s, F123. Through its partner company, Blue
Foods the group operates around 100 restaurants and food courts through brands like Bombay
Blues, Spaghetti Kitchen, Noodle Bar, The Spoon, Copper Chimney and Gelato.
Future Group’s joint venture partners include, US-based stationery products retailer, Staples
and Middle East-based Axiom Communications.
The group’s flagship company, Pantaloon Retail was awarded the International Retailer of
the Year 2007, by the US-based National Retail Federation, the largest retail trade association
and the the Emerging Market Retailer of the Year 2007 at the World Retail Congress in
Barcelona.
Future Group believes in developing strong insights on Indian consumers and building
businesses based on Indian ideas, as espoused in the group’s core value of ‘Indianness.’ The
group’s corporate credo is, ‘Rewrite rules, Retain values.’
Big Bazaar is not just another hypermarket. It caters to every need of your family. Where Big
Bazaar scores over other stores is its value for money proposition for the Indian customers.
At Big Bazaar, you will definitely get the best products at the best prices - that’s what we
guarantee. 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 prices that will surprise you. And this is just the
beginning. Big Bazaar plans to add much more to complete your shopping experience.
A couple of days ago, Future Bazaar announced its invitation to agencies to pitch a promotion
strategy to take Future Bazaar to the broader urban mass beyond the Internet audience.
Business standard quoted Sankarson Banerjee, CEO of Future Bazaar, “We are looking for a
dynamic partner to help us fundamentally change the way India shops. We have already
successfully enhanced individual customer interactions through our new technology platform.
With added innovation in marketing, we can transform the consumer experience and
revolutionize the retail landscape”. It may seem tall claims and jazzy PR on the outside, but I
think there is a lot more to it than what meets the eye.
If we break the whole quote into parts, what comes out is strong road map for the growth
not just for Future Bazaar but Internet shopping in general in India.
“…Help us fundamentally change the way India shops”
The IAMAI report on Internet shopping shows that online shopping is an Rs.8000 Crore
industry. So does that mean India is already on it’s way and this initiative from FB won’t be
fundamentally altering the landscape?
Not really, FB still has scope to back it’s claim because, 7000, out of the Rs.8000 Crore in
question is in the travel and tourism sector. That drawfs the product and services sector by a
mammoth 6000 Crores. Compare this to the US where this sector commands 40% of the
market share and we are indeed looking at a project that can fundamentally change the way
India shops. And if you see the crowds at Big Bazaar every Wednesday, it won’t leave much
doubt in the mind that the future group is best equipped to lead this shift.
“…With added innovation in marketing”
While this isn’t claiming that technological development in E-commerce sites will be
dormant with focus purely on marketing, it wouldn’t be wrong to assume that technological
innovation has reached a plateau.
And the next climb or growth ladder depends on improving the scale of users of
Internet and catering to their demands. And to my mind, this is exactly what this initiative
aims at. I don’t want this post to seem like a marketing plug for Future Bazaar, but I have
been waiting for someone to take such an initiative to take the web to the masses instead of
waiting for them to become net savvy.
Anyway, let us come back to Sankarson’s quote about innovation in marketing. If we agree
on my point that technology has to grow flat at the moment and needs a wider user base to
jump the next level, then marketing is where the work has to be put in. And the onus in this
case falls on the ad agencies whom the group has invited to come up to the challenge.
What makes this a big responsibility on their shoulders is the fact that it’s effect will be seen
in how the Internet shopping industry grows in India in general. The target audience for this
campaign would be most probably be testing waters of online buying for the first time, and a
bad experience with money can send them two steps behind where they are right now in terms
of adapting to the medium.
Like I mentioned yesterday in a comment to my post on Media as a Service, such innovation
has to be built by brands who already have an appeal. So therefore, the industry would be
better off with someone like a Future Bazaar doing it than an upstart.
On the other hand the upstarts can leverage on this initiative by targeting the converts when
they get converted.
And this is where social media plays a vital cog
What this initiative does is bring in a set of audience who are naive about how Internet as a
medium works in general. And to top it they are now looking at spending money on the
Internet without the skepticism earlier and are keen on learning. This is sort of the perfect
mix that any marketer would look for.
The mix of audience is such that they would hang out on social sites, they are new so they are
more open to experimenting and they come with an undeniable human tendency of thinking
they know something that others don’t. This is where Ecom marketers can cash in and
provide an alternative to Future Bazaar through niche targeting. Of course if someone wants
to be ready for it you can always go over to WATConsult [now that is a marketing plug.. ]
A Case Study in the Making
Now because it is future bazaar, and because it is the most creative minds at work on a
campaign that can alter retailing in India, this is a strong case in the making. What they do
right, what they do wrong, and how whatever they do opens up a gamut of opportunities for
others to open. Let us wait and see how they go about bringing “others” into our world.
In a Nutshell
The implementation
Pantaloon Retail forayed into retail in 1997 with the launching of its
fashion retail chain, Pantaloons in Kolkata. In 2001, it launched Big
Bazaar, a hypermarket chain. This was followed by Food Bazaar, a food
and grocery chain. Next up was Central, a first of its kind located in the
heart of major Indian cities. Some of its other formats include,
Collection i (home improvement products), E-Zone (consumer
electronics), Depot (books, music, gifts and stationary), aLL (a Little
Larger, fashion apparel for plus-size individuals), Shoe Factory
(footwear) and Blue Sky (fashion accessories). It has recently launched
its e-business venture, futurebazaar.com. The group's subsidiary
companies include, Home Solutions Retail India Ltd, Pantaloon
Industries Ltd, Galaxy Entertainment and Indus League Clothing. The
group also has joint venture companies with a number of partners
including French retailer Etam group, Lee Cooper, Manipal Healthcare,
Talwalkar's, Gini & Jony and Liberty Shoes. Planet Retail, a group
company owns the franchisee of international brands like Marks &
Spencer, Debenhams, Next and Guess in India.