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Introduction
The foundation of Shoppers' Stop was laid on October 27, 1991 by the K. Raheja group of companies 36 retail outlets in 18 cities across the country and is planning to spread its wings with futuristic expansion plans to meet the challenges of the retail industry With a Gross Retail Turnover of Rs. 1570.9 crores, Shopper's Stop has become the highest benchmark for the Indian Retail Industry. Has progressed from a single brand shop to a Fashion & Lifestyle store for the families.
Corporate Profile
Vision:
To be a global retailer in India & maintain no.1 position in Indian market in Department Store Category
Mission:
Nothing but the best To strive & achieve nothing but the best in terms of processes, practices & deliverables
Business Partners
Crossword MAC- Makeup-Art Cosmetics Mothercare Home Stop Brio, Desi Caf, Caf Coffee Day Timezone Arcelia Hyper City
USP
The unorganized market for apparel in India is huge. Typically, the smaller players are able to offer better pricing partly because of lower overheads and lower taxes. However, customers lack trust in the quality and price of these players due to a lack of transparency.
Shoppers Stop has been able to successfully capitalize on this need for trust and has built strong brand equity with loyal customers. However, this USP may have to be reinvented quickly once SS sees competition in its own format.
Competency
During the last retail boom that peaked a couple of years ago Shoppers Stop experimented with different types of retail, including the Argos catalog business as well as food and beverage outlets. It has now decided to stick to its core competency of targeting the upper-middle-class consumer. All new formats came under tremendous pressure, so they are going back to basics. It is trying to boost its high-end profile by bringing in international brands like Mothercare, a U.K. brand of maternity wear.
Accomplishments
Shoppers Stop Ltd has been awarded The Emerging Market Retailer of the Year Award World Retail Congress at Barcelona, on April 10, 2008 Shoppers Stop is listed on the BSE The only retailer from India to become a member of the prestigious Intercontinental Group of Departmental Stores (IGDS) "Most admired Fashion Retail Destination of the Year Images Fashion Forum - Jan 2009
Accomplishments
Most Admired Retailer of the Year (Customer Relations).
IRF 2009 - Sep 2009
Strategies
They have received the IT user award from NASSCOM for Best IT Practice in Retail Category in 2003
Guerrilla Marketing
Guerrilla marketing is an unconventional system of promotions that relies on time, energy and imagination rather than a big marketing budget. Typically, Shoppers Stops guerrilla marketing tactics are unexpected and unconventional; consumers are targeted in unexpected places, which can make the idea that's being marketed memorable, generate buzz, and even spread virally.
Interactive Marketing
The concept that has already made a debut at Shoppers Stop outlets in Mumbai, allows customers who are referred to as guests to go through various stages of activity in creating their own teddy bear (or other stuffed toy), including choosing a stuffed animal, stuffing it, giving it a heart, stitching, fluffing, naming and dressing it.
Re-Positioning
On April 24, 2008, one of India's oldest retail chains Shopper's Stop Ltd unveiled its new logo as a part of its re-branding strategy.
Re-Positioning
EARLIER
NOW
E-Commerce
As a result of the collaboration between Novator and Shopper's Stop, shoppersstop.com has been able to deliver a growing selection of products from the Shoppers Stop department store, as well as specialty spin-off stores such as Crossword and Mother Care to the doorsteps of customers in 150 cities across India. And with exceptional conversation rates, repeat traffic growth, and everincreasing revenue generation, shoppersstop.com has been recognized as a leading Indian ecommerce site.
E-Commerce
For the first time, residents in Indias smaller cities and towns can now purchase Lees jeans, CK, Crossword books, and countless other international and branded products, without having to travel to a major urban center. The webstore also gives its customers access to exclusive promotions, discounted items and the Shoppers Stop loyalty program. Furthermore, the online store also caters to the vast community of Indians living abroad, allowing them to send gifts and food to relatives and friends with just the touch of a mouse.
7S Model
SWOT Analysis
Shoppers Stop
Strengths
Pioneer in departmental format Loyal customer base Low risk and sturdy business model Healthy financial position, low gearing Presence across retail segments, lifestyle, value and specialty retailing Variety, range, loyal customers, low risk Good financial position Presence in various sectors
Weakness Competition from standalone specialty stores Late foray into value retailing with 51% stake in promoter owned company High spend on store makeovers and interiors to ensure a pleasant shopping experience Store makeover expenses
Opportunities
Entry into Tier 2 and Tier 3 cities Collaboration with foreign players because of a national brand Quality Youngsters Enter new consumer good segments Higher disposable income
Threats
Employee shortage and attrition due to rapid growth in retailing Impact of slowdown in consumer spend to be felt on department stores/lesser consumer spending Opening up of economy for free entry of foreign players/new entrants Unorganised sector Government policies
SWOT of Westside
Future
Shoppers Stop plans to add 1 million sq ft over the next three years. This would mean 18 new department stores by 2013, the highest addition in the companys history. Currently it has 29 department stores and five Hypercity outlets, apart from Crossword bookstore, and specialty store MAC, among others.
From being steady, they are increasing the pace now. They are focusing on rolling their formats faster than earlier, Shoppers Stop Chief Executive Govind Shrikhande said. The company will invest Rs 250-300 crore. It plans to raise Rs 350 crore through the qualified institutional placement (QIP) route and other means by March 2011 to fund its expansion. The fall in rents is helping them. The delivery of properties is (also) much faster as any delay is creating problems for developers, too, said Shrikhande.
Suggestions
They should introduce Low rate Brands which will attract the middle class customers also or brands for masses. The stores becomes a bit messy because of a large footfall & small size of stores so they should have larger outlets
Shoppers stops competitors used aggressive medium of advertisement like television commercial ads, thus to gain a competitive advantage over the competitors Shoppers Stop should also use such medium of marketing.
Conclusion
Presented By
Siddhart Shah-81 Lavin Mirchandani- 82 Sammohana Malik-93 Shanawaz Patel-96 Smriti Gupta-115