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Convenience Stores Introduction:Convenience Stores is a small store that stocks a range of everyday items such as groceries, toiletries, alcoholic and soft drinks, tobacco products, cosmetic product and newspapers. Convenience stores are usually more expensive than regular supermarkets, which they make up for with greater convenience by existing at more locations and having shorter cashier lines. A convenience store may be part of a gas/petrol station . They may be located alongside busy roads, in urban areas, or near railway stations or other transportation hubs. In some countries, convenience stores have long shopping hours, some being open 24 hours. Convenience stores are usually more expensive than regular supermarkets, which they make up for with greater convenience by existing at more locations and having shorter cashier line.

with about 2. variety of merchandise and fast transactions.590 square feet. Convenience stores offer speed of service to time-starved consumers who want to get in and out of the store quickly. one-stop shopping. grab-and-go foodservice.582 square feet of sales area and about 1.900 square feet of non-sales area. with 3.744 square feet. . New stores are bigger.  These shoppers recognize this channel of trade for its convenient locations. extended hours of operation.  The average convenience store is 2.

foodservice areas with seating or financial services kiosks.  Convenience stores sell an estimated 80 percent of the gasoline purchased in the United States.  The convenience store industry is America's primary source for fuel. . gas station and even a bank or drug store.Convenience stores recognizing the importance of creating destinations within the store that require additional space — whether coffee islands. with stores become part supermarket. restaurant.  Convenience stores also have expanded their offerings over the last few years.

Convenience stores have an unmatched speed of transaction: The average time it takes a customer to walk in.Of the 144. purchase an item and depart is between 3 to 4 minutes. 80 percent (120.875 convenience stores in the United States.950 stores) sell gas. 35 seconds to walk from the car to the store 71 seconds to select item(s) 42 seconds to wait in line to pay 21 seconds to pay 44 seconds to leave store .

imported product . MRP rate Cosmetic.Types of convenience stores:- There are three types of parameter to measure convenience stores:-  Size  Price  Product - 800-2000 square feet Discounted. grocery item .

Convenience stores may be combined with other services. some fast food chains offer a counter in convenience stores. Instead of cooking food in the store.Types of convenience stores:- Cont… In the US. such as a train station ticket counter. these counters offer a limited menu of items delivered several times a day from a local branch of the restaurant. post office counter or a petrol pumps. .

however with changing consumer preferences. Traditionally the retail market in India was largely unorganized. Retail sector comprises of organized retail and unorganized retail sector. the organized sector is largely concentrated in big cities. .Indian scenario of convenience stores The Convenience Stores scenario is one of the fastest growing industries in India over the last couple of years. organized retail is gradually becoming popular More than 90% of retailing in India fall into the unorganized mom & pop sector.

Over 12 million outlets operate in the country and only 4% of them being larger than 500 sq ft (46 m2) in size. Most Indian shopping takes place in open markets and millions of independent grocery shops called kirana. Retailing is one of the pillars of the economy in India and accounts for 15-16% of GDP. .Indian scenario of convenience stores cont… Organized retail in India is expected to grow 25-30 per cent yearly.

all under a common roof. . Piramyd .000 sq ft and above. in proximity to urban outskirts.Retail Formats in India Malls:  The largest form of organized retailing today. Example include shoppers Stop. service and entertainment. Pantaloon.000 sq ft to 7. Ranges from 60.00. They lend an ideal shopping experience with an amalgamation of product. Located mainly in metro cities .

are focusing on specific Market segments and Have established themselves strongly in their sectors. Haldiram bhujiwala . Food bazar. Example: Reliance Footprint. Mumbai book retailer Crossword.Retail Formats in India Cont… Specialty stores:  Chain such as the Bangalore based Kid Kemp. RPC’s Music World and the Times Group’s music chain Planet M.

discount stores or factory outlets. .Retail Formats in India Cont… Discount Stores:  As the name suggests . offer discounts on the MRP through selling in bulk reaching economics of scale or excess stock left over at the season. The product category can range from a variety of perishable / non perishable goods.

ft) across India and even has its own in store brand for clothes called stop!  Example: Westside" and "Lifestyle"-popular .000 sq. home groceries etc. the biggest success is K Raheja’s Shoppers Stop. catering to a variety of consumer needs. ft. Further classified into localized departments such as clothing.Retail Formats in India Cont… Department stores:  Large stores ranging from 20000-50000 sq. Among these. toys. which started in Mumbai and now has more than seven large stores (over 30.  Departmental Stores are expected to take over the apparel business from exclusive brand showrooms..

having a strong focus on food & grocery and personal sales.500 sq ft to 5.Retail Formats in India Cont… Hyper marts / supermarkets:  Large self service outlets. These stores today contribute to 30% of all food & grocery organized retail sales .000 sq ft. These are located in or near residential high streets. .Super markets can further be classified in to mini supermarkets ranging from of 3. catering to varied shopper needs are termed as supermarkets .

They stock a limited range of high-turnover convenience products and are usually open for extended periods during the day.Retail Formats in India Cont… Convenience Stores:  these are relatively small stores 500-2. seven days a week. Example: Twenty Four seven . easyday .000 sq.Reliance fresh. Prices are slightly higher due to the convenience premium. ft located near residential areas.

Need for the format of convenience stores :- Traditional format convenience stores:-  kiranas: traditional mom and pop stores Street Markets in traditional format convenience store are limited product. service are not good. Modern format of convenience stores :Twenty Four seven Convenience stores Reliance fresh Easy day . no choice for customer .

Modern format of convenience stores huge range of product. In convenience stores put stress on a proper infrastructure like well maintained building. Organized retail provides brands much needed visibility and platform for customer interaction. ready to eat counter. trained employees. electronic machine. choice for customer. parking facilities and proper display of goods category wise. good service. air conditioning. It creates requirement even when it is not necessary. . Twenty Four seven Convenience stores are ‘round-the-clock’ convenience store format. Increased use of credit cards is in favor of convenience stores.

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K. Modi 2005 Samir Modi Parent group Owner Founded Executive Director Head quarter 49.modi.html Industry website . Modi Group K. Community Centre.com/about-24x7.Twenty Four Seven Convenience Store About Twenty Four Seven Convenience Store Chain of development store in India Outlet 18 outlets Located in India(Delhi) K. K.110025 Retail http://www. Friends Colony New Delhi .

Twenty Four seven Convenience stores Introduction:The Twenty Four Seven Convenience Stores are one of India’s premiere and New Delhi’s only organized retail chain in the ‘roundthe-clock’ convenience store format.  Twenty Four Seven Retail Stores that are open 24 hours. pharmacy to various convenient services from Bill Payment. .  The store chain offers its customers an international shopping experience. beverages.  These stores provide a means to the young working populous with new and more comfortable options that meet their requirement and also those of the modern Indian culture. 7 days a week in 2005 Twenty Four Seven Stores offer Indian consumer a complete international shopping experience with a wide range of products from ready-to-eat food. Online Movie Tickets and lots more round the clock. offering variety of products and services. International & Domestic Courier. groceries provisions.

             Groceries Dairy products Snacks. such as. Chips and Chocolate Mini Pharmacy Cosmetics Music.. Movies and Magazines Movie tickets Bill payments and Mobile recharge Courier service Tobacco and related products Confectionary Office stationary Event ticketing and passes .Product And Services The Twenty Four Seven Stores are designed to cater to customers who are constantly on the move offering a wide range of services and over 2500 products on offer.

Service Quality Model .RATER Reliability Assurance Tangibility Empathy Responsiveness .

Reliability Major factor in Service Differentiation Efforts for delivering best service encounter experience Assurance Ensure best prices Ensure best quality Ensures best ‘purchase experiences’ Ensures best store interactions Ensures best ambience .

Gifts etc. Bill Slips Pamphlets.Tangibility  Packing's bearings Brand Logo  Souvenirs Gift Vouchers through third parties Free Samples. Brochures etc. .

Empathy  Price tags  Ensuring In-Shop Customer Assistance  Well trained employees  Performance as Promised  Customer Privacy  Value Customer Relations .

Responsiveness Willful Helping and Courtesy Personal Attention to Customers ‘No Grumbling’ Policy of More Retail Employee Discipline On-time Customer Redressal .

Role of Customers to improve the Quality of Service Delivery Responsibility of Customers to give proper feedback Customer must demand for what is being promised Customer must understand the differentiations and should respond .

Role of Employees to improve the Quality of Service Delivery  Employee is the ‘Maker or Breaker’  Interpersonal Skills much important  Personalized Business  Service Encounters must be made memorable  Must aim Customer Loyalty .

.USP’s of Twenty Four seven Convenience stores Open 24/7 with ready to eat counter.

Competition Aditya Birla Group .

 Limited variety of assortment  Less promotion .SWOT of TFSCS Strengths: 24 hour convenience outlets with strong brand name.  Computerized information system  Offers fresh . high quality food  Localized assortment to familiarize the preference of communities Weaknesses: Not a first choice of convenient store for shoppers.

Opportunities:  High demand of fresh and organic foods  Increase share of various kind of meals  Open for any promotion Threats  Keep check of food adulteration  Fill rate should be above 90%  Very strong sourcing and should be in line as per consumption or sale of the store  Create interest/ integrity / Loyalty .

Challenges:- Optimizes Labor Usage  Achieve True Customer Loyalty  Create Central Demand Forecasting for Optimization of sourced items New Product Introduction Increase Operational Efficiency .

work schedule  Achieve True Customer Loyalty. In my opinion radio is the best option for promotion as they match our working hour.) .Scope of improvements:- Optimizes Labor Usage.Feedback  Very strong sourcing of merchandise and should be in line as per consumption or sale of the store New Product Introduce by the promotion (Twenty Four seven Convenience stores are open 24hours situated in Delhi / NCR.

hygienic food.Conclusion: Consumer Focused promotion  Young executives who work till late evenings can be the main customer at Twenty Four seven Convenience stores. fresh fruits . Ready to eat counter. and imported products should be of greater range. .  Twenty Four seven Convenience stores targets higher and upper middle class customer  Twenty four seven specifically targets working women and home makers who are the primary decision makers.