Market research on Chandn

Analysis of unorganized market.

 Market Studied: Chandni Chowk Market
Date: 5 September 2023
Time: 4:00 PM

Submitted By: Submitted To:

1. Aayaz Mohsin PGP25001 Dr. Subhash Kakkar
2. Aarushi Khunger PGP25007
3. Abhishek Dod PGP25017
4. Aditi Sangar PGP25030
5. Anju Koranga PGP25057
6. Ankit Yadav PGP25060
7. Anmol Sharma PGP25066

Name of college:

FOSTIIMA Business School

Sector - 9, Pocket - 2, HAF - 1, Dwarka,
New Delhi - 110077

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 Table of contents

 Introduction
 Market Overview
 Data collection methodology
 Challenges faced during analysis
 Data analysis
 Individual shop visit
 Conclusion

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INTRODUCTION:

On September 5, 2023, at 4:00 PM, our team initiated a comprehensive market

analysis of the unorganized sector with the primary objective of gaining a
deeper understanding of real-world business dynamics and market conditions.
Through rigorous research and data analysis, we aimed to uncover the sector's
significance, challenges, and potential pathways for growth. Our research
revealed that the unorganized sector plays a vital role in our economy, yet
faces obstacles such as limited access to credit, regulatory hurdles, and a lack
of social security measures. Alongside these insights, we identified strategies
for formalization and expansion, highlighting the importance of informed
policy decisions and support mechanisms. This report presents our findings
and recommendations, serving as a valuable resource to enhance our
comprehension of this often-understudied sector and its impact on real-world
economic dynamics.

Market Overview:

Overview:

Chandni Chowk is one of the oldest and most renowned markets in Delhi,
India. Located in the heart of Old Delhi, it is a bustling and vibrant market that
reflects the rich history and culture of the city. Chandni Chowk is not just a
market; it's an experience that offers a diverse array of goods, street food,
historical landmarks, and a glimpse into the city's past and present.

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  Key Highlights:
Diverse Offerings: Chandni Chowk is known for its diverse range of products,
including textiles, jewelry, electronics, spices, books, and more. It's a one-stop
destination for shoppers seeking traditional Indian goods.

 Street Food Paradise: The market is famous for its street food, offering a
delectable array of culinary delights. From the mouthwatering parathas
of Paranthe Wali Gali to the sweets of Ghantewala and the chaat stalls,
food enthusiasts flock to Chandni Chowk.

 Historical Significance: Beyond its commercial vibrancy, Chandni Chowk

is steeped in history. It was originally designed as a grand boulevard
during the Mughal era by Shah Jahan, featuring a central canal that
would reflect moonlight.

 Architectural Marvels: The market is home to several architectural

marvels, including the Jama Masjid, the Red Fort, and various havelis
(mansions) that once belonged to nobles and traders.

 Challenges: Chandni Chowk also faces challenges typical of busy urban

markets, such as congestion, traffic, and sanitation issues. However,
these challenges have not diminished its allure.
History:
Chandni Chowk's history dates back to the 17th century when it was founded
by the Mughal Emperor Shah Jahan. Originally designed as a grand avenue
with a central canal to reflect moonlight, it was lined with opulent shops,
markets, and havelis. During its early days, it was known for its luxurious
merchandise, attracting traders from various parts of India and abroad.
Over time, Chandni Chowk continued to evolve. During the British colonial
period, it adapted to cater to the changing tastes and needs of a different
clientele. The canal was eventually replaced by a road, and the market
diversified to offer a broader range of goods.
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Chandni Chowk also played a significant role in India's struggle for
independence. It was a hub for political activities, and numerous rallies and
protests were organized here.
Today, Chandni Chowk stands as a vibrant and enduring market that blends
tradition with modernity. It remains a reflection of India's rich history, culture,
and commerce, drawing visitors from all over the world who seek to explore its
myriad offerings and experience its unique charm.

Data Collection Methodology:

In this research, a mixed-methods approach was employed to collect

comprehensive data on the market dynamics and experiences of shopkeepers
in Chandni Chowk. The methodology involved a combination of observation,
direct interaction with shopkeepers, and structured questionnaires. The
questionnaire was designed in such a way that it was useful for gathering
quantitative data on customer preferences, demographics and satisfaction
levels.

1. Observation:

Purpose: Observations was conducted to gather insights into the physical

layout of the market, customer footfall, and visual cues that reflect business
activity.
Procedure: Research team members spent designated time periods in Chandni
Chowk, noting the arrangement of shops, customer behavior, product displays,
and any notable patterns or trends.
Data Recorded: Data recorded was transcribed .

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 2. Questionnaires:

Purpose: Structured questionnaires were used to collect quantitative data on

shopkeepers' demographics, business operations, and specific challenges.
Questionnaire Design: A questionnaire was designed with a mix of closed-
ended and Likert-scale questions. Topics included business size, revenue,
employment, access to credit, and perceptions of government policies.
Sampling: A systematic random sampling method was employed to select a
representative sample of shopkeepers from various sections of Chandni
Chowk.
Data Collection: Trained surveyors were administered the questionnaires in
person, ensuring standardized data collection.
Data Recorded: Data recorded was transcribed.

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 3. Interaction with Shopkeepers:

Purpose: Direct interactions with shopkeepers provided qualitative data

regarding shopkeepers' experiences, challenges, and strategies.
Procedure: Team members were engaged in open-ended discussions with
shopkeepers to understand their perspectives on issues such as competition,
customer preferences, regulatory challenges, and business growth.
Sampling: Shopkeepers from various sections of Chandni Chowk were
approached to ensure a diverse range of opinions.
Data Recording: Notes from these conversations were transcribed and
analyzed to identify common themes and unique insights.

4. Data Integration:

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Purpose: Data collected through observation, interaction, and questionnaires
was integrated to provide a holistic understanding of the market.
Data Analysis: Qualitative data from observations and interactions were
thematically analyzed, while quantitative data from questionnaires was
undergone statistical analysis.
Triangulation: Findings from different data sources were compared and
contrasted to identify common trends and discrepancies, enhancing the
reliability of the results.

5. Ethical Considerations:

Informed Consent: All interactions with shopkeepers was conducted with their
informed consent.
Anonymity: Personal information of shopkeepers was kept confidential, and
data was anonymized during analysis.
Privacy: Researchers respected the privacy of shopkeepers and the commercial
sensitivity of their information.
This mixed-methods approach provided a comprehensive and nuanced
understanding of Chandni Chowk's market dynamics, combining both
qualitative and quantitative data to support the research objectives and enrich
the findings of our report.

Challenges faced during analysis:

 Most of the shopkeepers were not cooperative during the research.
 Some of the data provided by shopkeepers was inaccurate .
 Shopkeepers were not ready to dislose their exact data becayse of
income tax issues.
 The interpretation of data was not accurate as there was a huge
diversity in the market.
 Behavior of some shopkeepers was rude.
 Place was very conjusted so we had to struggle getting through the
lanes.

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Data Analysis:

Chandni Chowk is one of the busiest markets in India, with a footfall of over
100,000 visitors on weekdays and over 200,000 visitors on weekends. The
market is home to over 15,000 shops selling a wide variety of goods, including
spices, clothing, electronics, jewelry, and handicrafts. Mostly people who visit
are from UP, Bihar, Delhi, and Haryana. Most of the workers work on a
commission basis which is ₹ 100 per sale.

Here is a breakdown of the different types of goods sold in Chandni Chowk

Market:

Spices: Chandni Chowk is known for its wide variety of spices, including
turmeric, coriander, cumin, and red chili powder.
Clothing: Chandni Chowk is a popular destination for shoppers looking for
traditional Indian clothing like wedding lehangas, suits, sarees and many more.
You can find Western clothing also.
Electronics: Chandni Chowk is a good place to find electronics at competitive
prices.
Jewelry: Chandni Chowk is a popular place to buy gold and silver jewelry.
Handicrafts: Chandni Chowk is a good place to find traditional Indian
handicrafts, such as wood carvings, carpets, and textiles.

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INDIVIDUAL SHOP VISIT:

 V SAGAR FASHION SHOP:

 This shop deals with traditional female clothing including Sarees

and Lehangas with a gross margin of approximately 50% and net
margin is almost 30%.
 Their product is basically season based which usually lies between
September to February.
 Average stock holding lies between 30 to 35 lakh Rupees.
 Their monthly revenue lies between 2-2.5 lakhs per month during
offseason and 10-12 lakhs during peak season.
 They generate 5-6 lakhs of revenue during peak days.

 BABADEEP CLOTHES:

 This shop deals with traditional female clothing including Sarees

and Lehangas also deals in wholesale of fabrics.
 Average stock holdings lies between 25-30 lakhs.
 Price range lies between 1,500-20,000 rupees.
 Average pieces sold per day is 20.
 20% of customers turn into actual buyers.

 BALAJI ART FASHION JEWELLERY:

 This shop deals in artificial jewellery items like chokars, neck
pieces, chudas etc. and they enjoy the gross margin of 25-30% and
net margin of 10-15%.
 Average stock holdings lies between 10-15 Lakhs.
 They enjoy better footfall in festive season like Karva Chauth,
Diwali, etc.
 20% of the visitors to shop turn into actual customers.

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  GIANI DI HATTI:
 Popular food items sold here are chole bathure and kullad lassi.
 The normal footfall of customers lies between 500-1000 on
weekdays and 1800-2000 on weekends.
 Their minimum revenue generated is approximately 1 lakh per
day.
 Some of the problems faced by them are water supply issues,
garbage disposal and unloading of stock is not allowed during
daytime.

 CHHABRA LEHANGA HOUSE:

 This shop deals in lehangas, sherwanis and designer dresses.

 The enjoy a gross margin of approx. 40% and net margin of
approx. 20% which could be approx. 30% also if the customer
does not bargain.
 Total number of visitors during weekdays are 10,000-12,000 and
on weekends are approximately 30,000.

 MUGHAL BAZAAR:

 This shop deals in clothing items like lehenga , suits and sarees.
 The revenue generated lies between 10,000 to 15,000 on
weekends and 25,000 to 30,000 on weekdays.
 Their price range lies between 10,000 to 10,00,000 rupees.
 The average stock holdings lies somewhere between 20-25 lakhs .

Conclusion:
In conclusion, Chandni Chowk stands as an enduring testament to the rich
tapestry of Delhi's history, culture, and commerce. This iconic market, nestled
in the heart of Old Delhi, has retained its allure through centuries, offering a
captivating blend of tradition and modernity.

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Chandni Chowk's diverse range of products, from textiles to jewelry and
electronics, caters to the diverse tastes of shoppers. Its status as a street food
paradise, with famous culinary destinations like Paranthe Wali Gali, adds an
irresistible gastronomic dimension to the market.
Beyond its commercial vibrancy, Chandni Chowk is a treasure trove of
historical landmarks. The Jama Masjid, Red Fort, and havelis evoke the
grandeur of the Mughal era, while the bustling lanes tell stories of trade and
resilience over time.
However, like many bustling urban markets, Chandni Chowk faces challenges
such as congestion and sanitation. Yet, these challenges have not deterred its
patrons, who continue to flock to its vibrant lanes.
In the face of change and modernization, Chandni Chowk has not lost its
essence. It continues to thrive, adapt, and welcome visitors from around the
world. This enduring market represents more than just a shopping destination;
it's a living heritage, a sensory delight, and a historical marvel.
Chandni Chowk invites us to celebrate the past, embrace the present, and look
forward to the future with optimism. It is a symbol of India's resilience and its
ability to preserve its cultural identity while evolving in a dynamic world.
As we conclude our exploration of Chandni Chowk, we are reminded that this
market is not just a place; it's an experience, an embodiment of Delhi's soul,
and a treasure trove of memories waiting to be made. It will continue to be a
source of inspiration and fascination for generations to come, a true jewel in
the crown of Delhi's heritage.

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