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Retail Analysis of Speciality Stores


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Mn the late-1980 s, a college student threw caution and a destined
engineering degree to the winds and landed a job with the Landmark
bookstore in Madras. He thought he would last there for all of three
months. But as the line goes Life is what happens to you while youǮre
busy making other plansǮ , and he went on to build one of MndiaǮs most
successful bookstore chains. Mn the case of R Sriram, the former
founder CEO of Crossword, fact is stranger than the fiction that lines
the bookshelves at Crossword. Today, the chain that he helped set up is
perhaps MndiaǮs biggest book retailer . Before Crossword, there were
well known bookshops Ȅ Higgin Bothams in Bangalore, Strand in
Mumbai, Om in Delhi to name but a few. However none of them had a
national presence. The chain was born from the recognition of the fact
that like many other categories in those days, even this had plenty of
potential. Book retailing had served, underserved and unserved
customers. There was a huge opportunity in the underserved and
unserved segments. Today that goal has been achieved and
standardisation is one of the biggest reasons for their success.
Sivaraman Balakrishnan, marketing head, Crossword points out that
today a consumer irrespective of the city that he visits will be treated
to the same shopping experience . He says, ȆAcross formats our brand
experience of educate, entertain and enlighten are the same.  Back
then, though, in a scenario where books were sold through outlets that
were tiny and consumers bought them much like they bought
medicines at drugstores (going with a prescription), there was a lot of
ground to be covered. Attractive display was a far-fetched concept and
the only bookstores that gave customers room to free their arms were
the ones in five star hotels.
To be successful, therefore, a national chain would have to reinvent
and remarket the very idea of a bookshop as consumers saw it. Luckily
for Sriram, he found a backer for the concept in publishers Mndia Book
House putting the
seed capital and more importantly give him real estate in the form of
their vacant first floor office space in Mumbai at Mahalaxmi. The name
was supposed to be ¬  , because it signifies fun and learning.
However legend has it that a numerologist said that the name was
unlucky and there was talk of a name change. Sriram though
intervened and suggested the dropping of the sǮ , and so the name
Crossword came into being. The store was launched on August 15 in
1992. Mn many ways, right from its inception the chain broke the rules.
The property was not on the ground floor, not easily accessible,c no
parking space and was a UǮ shaped space with many pillars. The
entrepreneurs decided to look at the advantages rather than moan
about the deficiencies . Mt was on the same street that housed iconic
Mumbai stores like Amarsons and Benzer and hence likely to attract
upmarket shoppers. Mt was decided that consumers would be treated to
unique shopping experience in a shop that was trendy and hip. The
bookstore decided to appeal to mothers and children.

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Mn Mndia, shopping for books has always been thought of as a book-
lover's hobby. The traditional bookstores, with their dreary, dusty and
browser-unfriendly atmosphere, have discouraged all but the serious
book-buyers.
Crossword's Positioning

Crossword, positioned as a lifestyle bookstore, has been able to change


this by designing large, spacious, well laid out stores, with bright
cheerful interiors that encourage people to stay and browse. Simple
innovations such as methodical classifications, clear signage, a
dedicated enquiry /orders desk, electronic POS and inventory control
systems and attractive displays make looking for books a much more
pleasurable experience. A welcoming café, reading tables and chairs
and toilets within the
store, (some of the innovations pioneered by Crossword in Mndia) help
to ensure that customers are able to browse in comfort for several
hours without having to leave.

Why the name Crossword


While we do crossword puzzles for fun, they are also a learning
experience. The name Crossword was therefore chosen to reflect the
dual fun and learning experience of a visit to Crossword. The name
embodies our vision of Crossword as a place and space for people who
seek information, knowledge or just the pleasure of reading.

Products and Services


Crossword also addresses a wider audience than existing stores with
its unique product mix. There is of course, the widest range of books
for the young and old alike, along with magazines, CD-ROMs, music,
stationery and toys. With its large children's section and its focus on
making the store a friendly, safe, fun-filled place, Crossword attracts
many families who normally don't think of visiting bookstores.
Services like Dial-a-book, Fax-a-book and Email-a-book enable
customers to shop from their homes; and when they come to the store,
the unobtrusively helpful staffs assist them in finding the right book,
the right CD or the right gift for the right occasion. Facilities like the
Crossword Gift Vouchers, the friendly 'Return, Exchange & Refunds'
policy, the Cafes within the stores and the unique store experience
make it easy and enjoyable for customers to shop at Crossword. Over
1,00,000 loyal customers are rewarded through the ¬   

    with points, discounts, promotional offers and
more. 'eWords', a monthly e-newsletter with reviews of new books,
news about in store events and bestseller lists, is currently mailed to
these Members.
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Crossword Bookstores Ltd. is a wholly owned subsidiary Company of
Shopper's Stop Ltd - Mndia's leading department store chain. The
Holding Company inter-alia also acts as a Master Franchisee of the
Company.

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1.c CURRENT LOCATMON OF THE STORE
The Crosswords Store is located ...............................

2.c THE SUMTABMLMTY OF THE STORE LOCATMON WMTH RESPECT TO


TARGET CUSTOMERS
CrosswordǮs target customers consist of students, corporates,
management students, movie and music lovers etc. Mt is located near
residential areas as well as near college campuses. Thus, we feel that
the location is very suitable with respect to its target customers.

3.c HAS THE STORE PROVMDED PARKMNG FACMLMTY?


Parking is provided at the parking lot and it is a Pay and Park facility.

4.c ANALYSMS OF COMPETMTMON MN THE AREA


There is no book store in close vicinity which provides all features of
providing books, movies, music, CD-ROM, toys, stationary and a book
café Ȃ All in one. Hence Competition per-se is not there for this
Crosswords store.
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PRODUCT CATEGORMES: Mt has broadly the following product
categories:-

1.     


 Ȃ Young Fiction, Reference, Quiz/Puzzles,
Fairy tales, Comics, Workbooks, Business Management, Psychology,
Books on Parenting & Childcare, Health & Fitness, Food care, Art &
Design, Cinema, Mndian Fiction, Fiction , Romance, Classics, Non -Fiction,
Architecture, Astrology & Occult, Religion, Mythology, Travel, Animal
World, Humor, Food & Drinks, Books on Mndia.

2. 
 Ȃ VCDǮs and DVDǮs of Hindi, English movies as well as
regional movies
3. Ȃ Music CDǮs of English, Hindi and Regional languages
4. ¬ Ȃ PC Games
5. dȂ Soft toys, Games
6.   Ȃ Wrapping paper, Writing instruments, Gift Bags, Gifts,
7.    Ȃ Brio at level-1 providing movie, music and cafe
facilities.

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The pricing strategy followed by the store is in sync with the product
range and variety it offers. Books, magazines, stationary, toys, music,
movie DVDǮs/VCDǮs etc were priced as per the price printed on the
cover. As a sale was going on during the survey, the prices of some
selected products were much less than the printed price. But the items
offered at the Brio café are a little overpriced and are not even
extremely delicious to account for such a pricing. Therefore, most
customers are disinclined to buy more than a cup of coffee there.

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As we enter the Crosswords Store, the first thing that catches the eye is
the display of Books of the month on the immediate right of the entry.
This is a sales promotion and advertising strategy for the books.
  
 %  &
 '   Ȃ Mt is an internal office
decision and consists of following current offers :

(Buy 2, get 1 free DVD


)Buy 1, get 2 free VCD
Buy 2, get 1 free books
ùBuy 1, get 1 free DVD/VCD
*50% off and 60% on some books.
   "
 %  &
 '  : There is a big
advertisement outside the crosswords store which displays a
photograph of a girl reading a book inside crosswords store and has a
tagline written below displaying: books, movies, music, CD-ROM, toys,
stationary and a book café

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mc There is only a &



 on the front side in the 


mc There are ).& Ȃ a large ground floor & a smaller upper floor.

Ground Floor
mc As soon as you enter the store , on the right hand side is the
baggage counter where you can keep your bags & other outside
material.
mc On the left hand side , there is the STATMONERY column.
mc On the right hand side (beyond the baggage counter) there is the
BOOKS section which contains various types of books.
mc On the extreme right there is the MAGAZMNE section.
mc Mn the centre there is the ENQUMRY & BMLLMNG COUNTER.

Upper Floor
mc The staircase goes from behind the billing & enquiry counter on
the ground floor.
mc Here you have the BRMO CAFÉ, which serves the following :
mc There is a very well maintained LOUNGE for sitting comfortably
& reading.

"+ ¬+.d,+d +/

mc Marble flooring
mc Bright yellow light
mc Smooth wooden racks
mc Cream colored distempered walls
mc Light instrumental music in low volume
mc Centrally air conditioned
 #"$.d,+ -¬d/ 

STATMONERY CONTENTS :
mc Files & folders
mc Pens & pencils
mc Crayons, sketch pens & pencil colors
mc Gift items
mc Painting colors & canvas
mc Notepads
mc Laptop bags & accessories
mc CDs & DVDs
mc  All are meticulously arranged in wooden racks
mc  Good visibility of all products
mc  Well categorized

MAGAZMNES :
mc Filmfare
mc Stardust
mc Femina
mc Health
mc Maxim
mc Vogue
mc Cosmopolitan
mc News magazines like Mndia Today & Frontline
mc Business standard
mc Business world
mc Autocar
mc Overdrive
mc  All meticulously arranged in wooden racks
mc  Good visibility of all products
mc  Well categorized
 BOOKS CATEGORMES :
mc Management
mc Fiction
mc Astrology
mc Science
mc Religious
mc History
mc  A separate section for CROSSWORD RECOMMENDED books.

All meticulously arranged in wooden racks


mc Good visibility of all products
mc Well categorized

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mc Complete information is provided by the central billing &


enquiry counter on the ground floor.
mc Excellent & relevant signages & boards regarding categories.

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The employees are in uniform, neatly dressed and courteous. Uniform
Ȃ Jeans and a black T-shirt which has Ȇcrosswords written in the left
side. Two Enquiry centers have been provided for more assistance and
suggestions. The employees are very friendly & cooperative.
÷ ÷÷CustomerǮs complaint is that the staff is not well versed
with good authors or USPǮs of books. Hence, employees should be
trained to attend to the customers and help them in making purchases
by giving them full knowledge of the product.
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Since its inception in 15th October 1992, Crossword has received wide
recognition for its achievements; articles on retailing in Mndia
invariably feature Crossword. Mt has been featured in Advertising Age
Mnternational, USA, as one of the Marketing Superstars for 1994. The
Bookseller, UK, has also described it as 'being on the cutting edge of
retailing' in Mndia.

mc Crossword won the


&
 
 $
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23   !  ¬
 4 
  

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" )556 )55*.

mc Crossword was ranked the ]   




   
 
    
 
  ]; it was the only book
retailer in the top 10.

mc Crossword won the 


    
 




 


 at the Mndia Retail Summit 2005

mc Crossword received the å



     
 
 



   for the year 2004 on 18th June
2005 at the hands of Shri Arjun Singh, Minister of Human
Resource Development c

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