Big Bazaar

FUTURE GROUP

Future Group is India’s leading business group that caters to the entire
Indian consumption space. Led by Mr. Kishore Biyani, the Future Group
operates through six verticals: Retail, Capital, Brands, Space, Media and
Logistics:

• Future Retail (encompassing all lines of retail business),

• Future Capital (financial products and services),
• Future Brands (all brands owned or managed by group
companies),
• Future Space (management of retail real estate),
• Future Logistics (management of supply chain and
distribution) and
• Future Media (development and management of retail
media.

The group’s flagship company, Pantaloon Retail (India) Limited operates

over 5 million square feet through 400 stores in 40 cities. Some of its
leading retail formats include, Pantaloons, Big Bazaar, Central, Food
Bazaar, Home Town, EZone, Depot, Health & Beauty Malls and online
retail format, futurebazaar.com.
Future Group’s vision is to, “deliver Everything, Everywhere, Every time
to Every Indian Consumer in the most profitable manner.” The group
considers ‘Indian-ness’ as a core value and its corporate credo is - Rewrite
rules, Retain values.

PANTALOON RETAIL (INDIA) LIMITED

From its beginning in 1987, they have today evolved as one of the leading
retailer and are among the pioneers in setting up a nation-wide chain of

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large format stores in India. They believe that the various initiatives taken
by them have played a key role in enhancing the standards of retail in the
country. They believe their focus on customers supported by systems and
processes and a committed work force are the key factors that have
contributed to our success and will help us scale up as we embark on our
strategic growth plan. Pantaloons is the first organized departmental store
format targeting the Indian middle class and upper class customers across
age and gender.

BIG BAZAR

Big Bazaar is a chain of department stores in India currently with 100

outlets. It is owned by Pantaloon Retail India Ltd, Future Group. It works
on the same economy model as Wal-Mart and has been successful in many
Indian cities and small towns. The idea was pioneered by entrepreneur Mr.
Kishore Biyani, the CEO of Future Group. Currently Big Bazaar stores are
located only in India. It is the fastest growing chain of department stores
and aims at having 350 stores by 2010.
Big Bazaar is the destination where you get products available at prices
lower than the MRP, setting a new level of standard in price, convenience
and quality.

SITUATION ANALYSIS

Competition
The retail industry is divided into organized and unorganized sectors.
Organized retailing refers to trading activities undertaken by licensed
retailers that is, those who are registered for sales tax, income tax, etc.
These include the corporate-backed hypermarkets and retail chains, and
also the privately owned large retail businesses which include large
corporate houses like Reliance Fresh recently launched in Hyderabad,

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Bharti -Wal-Mart, Shoppers Stop, and Spencer’s D-mart, Life Style,

Piramyd, Globus, Ebony etc
Unorganized retailing, on the other hand, refers to the traditional formats of
low-cost retailing, for example, the local kirana shops, owner manned
general stores, paan/beedi shops, convenience stores, hand cart and
pavement vendors, etc. Unorganized retailing is by far the prevalent form
of trade in India – constituting 95% of total trade, while organized trade
accounts only for the remaining 5%. Estimates vary widely about the true
size of the retail business in India. Since 2004, visible changes in the Indian
retail horizon have been observed. The German retailer, Metro AG and
South African retailer, Shoprite have already made their foray into India.
Both, Metro AG and Shoprite entered India through a cash and-carry
format. Shoprite also has approval to carry on business under the franchisee
route. To mark its entry into India, the French retailer, Carrefour, has
established a representative office in the country

Size Of the Market and Growth

AT Kearney estimated the retail business to be Rs. 4, 55,000 crores and

poised to double by the end of 2007. Sales now account for about 45% of
the total GDP and food sales account for 63% of the total retail sales,
increasing to Rs.100 billion from just Rs. 38.1 billion in 1996.

Trends

For the so-called Global Retailers, the incentives lie in the growing Indian
middle class, rising “consumer expenditure per year” and the Indian
government’s consideration to allow FDI in the retail sector. However, the
going will never be a smooth one. If Wal-Mart were a country,

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Wal-Mart is about half of India. What does that imply? The global giant
with money power at its disposal is likely to dictate its term which may
have an impact on its pricing decisions. The impact may be directly on the
local shops and small retailers like big bazaar. Also larger amount at the
disposal of common people has been witnessed as one of the reasons why
big retail giants are aiming India as an attractive destination for foreign
investment.

Marketing Strategy

The company is forking out over Rs 100 crore (Rs 1 billion) for this
massive expansion of the 'Big Bazaar' brand across Mumbai, Kolkata,
Nagpur, Bhubaneswar and Ahmedabad. Biyani is also offering innovations
that retailers abroad don't offer. He has recently launched a new section in
his hypermarket called Gold Bazaar where jewellery is bought and sold.

And he is also setting up Victoria Memorial, a 150,000 sq ft shopping mall

in Bangalore. Victoria Memorial will experiment -- following the
Selfridges model -- by displaying high-profile readymade brands and
collecting a commission on their sales.

SWOT Analysis

Strengths:
1) Good supply chain management
2) Variety of products available under one roof
3) Higher PROFIT margins on sold products
4) Good brands available at affordable prices
5) Cheap goods available to the consumers due to the absence of
middlemen

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Weakness:
1) High attrition rate
2) Employees are not well trained in handling esteemed customers
3) Sub standard Quality of goods
4) There is no proper channel of advertising for promoting their
products

Opportunities:
1) Huge potential rural market to be tapped
2) Opportunities available in the cosmetics industry

Threats:
1) Many major players are foraying in the retail sector like
walmart,reliance which may hamper their margins
2) Customers may lose their trust on the company due to the supply of
substandard products and may even switch to some other company

Michael Porter’s Model

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Threat of New Entrants:

 Economies of scale (minimum size requirements for profitable

operations)
- The new entrants that are entering the retail scenario today
are those which have with them a lot of backing from the financial
institutions who are willing to finance their ventures.
- Taking for example the case of Reliance Fresh which is
entering the industry with a corpus of Rs. 25,000 crore.
- E.g. Reliance Retail, which made its debut on 3rd
November, 2006, in Hyderabad with the opening of a cluster of 11
stores and which now has 22 stores in operation in Hyderabad,
Secunderabad and Jaipur is gearing up to enter its home state
Gujarat with a big bang.

 High initial investments and fixed costs

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- The cost of initial investments is very high as the prices of

real estates have started going very high.
- The recovering the initial costs would take a long time as the
initial phase will be involved in attracting the customers and it will
take time until customers will become the regular.
- Companies coming in are not wary of the high initial costs
involved as they are putting their money in for the long term as the
retail industry in India is only in its nascent stage.

 Cost advantages of existing players due to experience curve

effects of operation with fully depreciated assets
- Existing players have the first mover’s advantage in the
market.
- They already have their brand value set and the customers
are aware of the brand.

 Scarcity of important resources, e.g. qualified expert staff

- As the there is rapid expansion in this industry and there are
more and more new players coming in.
- The availability of skilled labor is very scarce in the current
scenario.
- The existing staff is already employed by existing players.
- Due to a lot of poaching in the industry, the pay packets
keep getting higher to avoid incurring training costs.

Threat of Substitutes

 Results of an AC Nielsen study for the period 1993-99, published in

2000 showed `independent retailers' declined by 21 per cent while
`multiple retailers' increased by 18.5 per cent.

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 Indians love to chat with the shopkeeper and the purchase decision
is heavily influenced by the `expert' comments of the shopkeeper.
 The friendly greeting and affection of your regular grocer cannot be
easily replaced.
 The big retailers tend to be impersonal, there is no help around, and
the sheer range of choice can be confusing.

Competitive Rivalry between Existing Players

 There are many players of about the same size

The Shoppers Stop headed by the Raheja Group, Vishal Mart in North
India, Spencer Hypermarket Formats are the existing players who are
about the same size as the Big Bazaar and similar expansion policies.

 There is not much differentiation between players and their

products
The existing players don’t have much difference in terms of the product
range they are offering to the customers. This thus results in price
competition.

 Low market growth rates

The growth of a particular company is possible only at the expense of a
competitor and capitalizing on the mistakes committed by them.

 Barriers for exit are high

High investments by the players makes it very difficult for them to exit
the current scenario in the industry.

THE MARKETING PLAN OF BIG BAZAAR

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Target:
The target audience for big bazaar includes people based on the economic
status. They mainly cater to urban middle class and price sensitive
customers. As a marketing strategy they offer huge festive discounts to lure
the customers as the festive season is a time when many have plans to buy
and try out new products .they also have various schemes such as 50 %
discount on the tagged price for a day. Whatever you buy is 50% less than
the original price. They basically promote their product as being the
cheapest anywhere in India.

Biyani in one of his interviews says that Ahmedabad was a very difficult
market. People were so conscious. We realized that people traveled in
groups of 8-10. The whole society came to shop together. They shared the
rickshaw fair. They knew the price of every product in the wholesale as
well as in the retail market. So when we launched our Ahmedabad store, it
was our most challenging market. We thought 'what more can we do for
these customers'.

Positioning of Big Bazaar:

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.

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Isse sasta aur accha kahin nahi – This can be used for the
POSITIONING strategy. Shop till you drop!

Big Bazaar has democratized shopping in India and is so much more than
a hypermarket. Here, you will find over 170,000 products under one roof
that cater to every need of a family, making Big Bazaar India’s favourite
shopping destination. At Big Bazaar, you will get the best products at the
best prices -- this is our guarantee. From apparel to general merchandise
like plastics, home furnishings, utensils, crockery, cutlery, sports goods,
car accessories, books and music, computer accessories and many, many
more. Big Bazaar is the destination where you get products available at
prices lower than the MRP, setting a new level of standard in price,
convenience and quality.

If you are a fashion conscious buyer who wants great clothes at great
prices, Big Bazaar is the place to be. Leveraging on the company’s
inherent strength of fashion, Big Bazaar has created a strong value-for-
money proposition for its customers. This highlights the uniqueness of Big
Bazaar as compared to traditional hypermarkets, which principally revolve
around food, groceries and general merchandise. Boasting of an
impressive array of private labels, Big Bazaar is continually striving to

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provide customers with a ‘complete’ look. So be it men’s wear, women’s

wear, kids wear, sportswear or party wear, Big Bazaar fashions has it all!

Pricing of Product:

As it were, Biyani's new strategy for Big Bazaar also centre’s on fashion,
but with a volumes orientation. It will retail what Biyani calls
commoditized fashion - blue jeans, white shirts. Biyani is planning to buy
these in very large numbers, drive prices down, and sell. Take denim.
Recalls Singh: "Pantaloons has jeans from Bare at Rs 695 and above.
Newport, priced at Rs 599, was the cheapest pair of jeans in the market.
So, we contacted Arvind Mills and asked if they could give us jeans at Rs
299 if we were willing to take 100,000 units a month." That is where Ruf-
n-Tuf came in. The brand had been discontinued when Pantaloon first
contacted Arvind. From now on, it will be available only through Big
Bazaar. There is a similar deal for T-shirts.

Pricing strategy

The recent stampedes at Big Bazaar stores have triggered a debate around
the much desired discount game and varying strategies adopted by
organized retailers to show their mettle. Well, a mad rush at Kishore
Biyani’s Pantaloon stores may be a compliment for his success, but for
Technopak Advisors COO Harminder Sahni it conveys nothing.
In India, one sees a stampede everywhere, which is a result of huge demand
and less supply. Big Bazaar’s stampede exemplifies the same. In a city of
12 million people, there is one store that is trying to position itself as a
discount destination. Even if only 1% of the city dwellers visit the store, it
adds up to 1, 20,000 people. Such a huge lot in a store that can handle not
more than 15,000 people will indeed lead to a stampede. However, he adds
that the discount war is a rediscovering exercise undertaken by the first

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generation retailers who, perhaps inspired by international retailers, are

trying to understand the requirements of customers and thus fill the gaps at
their end. So, if Wal-Mart has the discount principle, why not our own Big
Bazaar?
Discount and several other developments in and around the organized retail
trade (the 3% of the total retail trade) indicate the changing dynamics of the
sector and the way the business will take shape in the years to come.

BIG BAZAAR is concentrating on buying in volumes through cash

purchase which give us an edge. Ultimately, the convenience, value and
variety given to customers will make a difference. Be it managing a supply
chain, grappling with hundreds of suppliers or handling store inventory —
the modern retail industry is a big affair. Then follow other aspects like
positioning of the brand with apt pricing, packaging and retail experience,
understanding the customers, dealing with partners such as suppliers, mall
developers and franchisees. However, the biggest challenge is saving bucks
either through margins or rentals, so that there is profit even after the
discounts. Though it reads as a complete win-win situation, it is surely a
tough target to be achieved.

Advantage

Huge marketing space at their disposal a good brand image to compliment

that and a trained and efficient sales force all adds to their advantage to
serve customers better. They also have the advantage of having their outlets
in selected prime locations in the city (phoenix mills – Mumbai).An
exhaustive research is conducted before finalizing location for the shop. A
loyal customer base following also adds to the advantage as its help in
positioning their product accordingly.

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Distribution

Since big bazaar is mainly targeted towards middle class consumers as a

distribution strategy they manufacture few products themselves which
enables them to earn better margin profits and stay ahead of competition.
For fruits and vegetables they have a ware house in vashi from which they
order their supplies. The suppliers have to fill in a tender, from which the
firm quoting the lowest price is selected for the supplies. In the same way
for clothing and accessories they have their own designers (Rocky S –
Pantaloons) who design their line of products and later big bazaar sells
them in the open market. For branded electronic items like mobile phone
and cameras they order them directly from the company. Their distribution
strategy is simply, purchasing in bulk from the suppliers and then sell it to
the end user at a cheaper price.

Even the warehousing strategy has been fine-tuned so that costs are kept to
a minimum. In Mumbai, for instance, the three stores will be served by a
single warehouse. It hopes to put together a similar strategy in Delhi where
it wants to open a second store. Keeping costs down is clearly the
cornerstone of policy at both chains. Pantaloon chief Biyani ensures
cheaper prices by keeping watch at every step. Says Biyani: "We do three
things -- buy directly from the manufacturers so that the middle man is
eliminated. We buy in cash and get a cash discount, and manage our stocks
turns so that we don't have money stuck up. The benefits are passed on to
the customers."

So, for instance, as many as 60 per cent of Big Bazaar's products are bought
directly from the manufacturers and the saving could be anywhere between
6 per cent and 40 per cent. Cash discounts (for buying goods upfront in
cash) on the other hand could range from 2 per cent to 10 per cent. And the

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company pushes for a stock turn of 40-50 times a year for its food items,
and once a month for ready to wear.

Marketing Strategies

Discount Slots

Offering Discounts in first week of every month or allowing customers to

pay credit in first week as that is when the salary comes in for the salaried
class which is the target audience for the BB

Creating Strategies targeted at Teens and Tweens

Children between the ages of 8 and 14 – Tweens and young teens – are a
powerful demographic group. They control billions in purchasing power
and make up 60% of Internet users under age 18, and as Tweens become
teens, their online activities change dramatically.

They may be small in stature, but they have a huge influence.”Teens ages
12 to 14 go online more frequently than children who are 8 to 11, spend
more time online and engage in a variety of online social and
communication activities, such as instant messaging and social networking,
that kids slightly younger have yet to grasp.”

No marketer should make the mistake of thinking that there is no difference

between tweens and teens. The transition from childhood to adolescence is
a big turning point — socially, mentally, physically and emotionally. Just
ask any parent with children between the ages of 8 and 14.

“It also marks a turning point in online behavior,” says Debra Aho
Williamson, eMarketer senior analyst and the author of the new report,
Tweens and Teens Online: From Mario to MySpace.

BIG BAZAAR, SURAT – AN ANALYSIS

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SIZE OF THE STORE

The store at Mulund is a huge outlet with approximately 60000 sq ft of
retail space divided between two floors – Ground and First.

TYPE OF RETAIL FORMAT

Big Bazaar is a hypermarket - a superstore which combines a supermarket
and a department store. The result is a gigantic retail facility which carries
an enormous range of products under one roof, including full lines of
groceries and general merchandise. A consumer can ideally satisfy all of
his or her routine weekly shopping needs in one trip to the Big Bazaar. The
store’s business models focuses on high-volume, low-margin sales.

LOCATION
Big Bazaar is strategically located on one of the busiest streets of Mulund
having heavy vehicular as well as pedestrian traffic. It is situated on the
ground and the first floor of the R-Mall which is at a 5 minute distance
from the Mulund station and a throw away distance from checknaka.

TRADING AREA
Trading Area is a geographical area containing the customers of a particular
firm for specific goods and services. For Big Bazaar, the primary trading
area initially was the residents of Mulund as well as Thane. However, after
a store was opened even in Thane, only thaneites near the checknaka prefer
the Mulund Big Bazaar.

THE LAYOUT
The store is divided into two floors; ground and the first. The ground floor
houses all categories of products like apparels, bed and linen, furniture,

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gifts & artifacts, etc. The first floor is the food bazaar where one can find
grocery, fruits, vegetables, ready to eat packs, etc.

AVERAGE FOOTFALLS
On weekdays, the store receives average footfalls of approximately 3000.
On weekends and during festive periods the average footfalls often shoot
up to approximately 8000-10000.

TARGET CONSUMERS
Big Bazaar is a value store. It offers products at the lowest possible price
and has rightly targeted the middle class consumers who are highly price
conscious and seeks value in the purchase made.

PRODUCT CATEGORIES
The store houses a long list of product categories. An indicative list is given
below:
° Men’s & Women’s Apparels
° Kids Wear
° Footwear
° Bed and Bath
° Gifts and Artifacts
° Utensils & Plastic items
° Appliances
° Grocery

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SOME OF THE PRODUCT CATEGORIES AT BIG BAZAAR

Men’s Apparels Women’s Apparels

Food Bazaar Fruits Section

Furniture Section Bed and Linen Section

PRODUCT VARIETY
As seen from the product categories, the product width at Big Bazaar is
quite large. The store also has a good product depth i.e. the variety

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available in each of the product categories. This variety is a combination of

manufacturer’s brands and private labels majority being private labels.

NUMBER OF EMPLOYEES
The total employee strength at Big Bazaar is 220 inclusive of the category
managers and the sales staff. The average educational qualification of the
sales staff is 12th standard.

SOURCING POLICY
Big Bazaar sources its products either directly from the manufacturers or
they outsource the production. The proportion of products outsourced to
that sourced from manufacturers is 85:15. Hence we can see large number
of in-house labels at the store.

• The private labels under the men’s apparels category include:

° Knighthood
° Shatranj
° Denim Jeans & Cool Casuals (DJ&C)
° Ruf & Tuf

• Private labels under the Female’s category include:

° Denim Jeans & Cool Casuals (DJ&C)
° Shaila
° Shristi

• For the kids, their private label is known as Pink-n-Blue.

In case of appliances like CTV, refrigerators, Cell Phones, etc, the store
directly purchases them from the respective manufacturers.

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Thus, eliminating the intermediaries and thus their hefty commissions.

SOME OF THE PROMOTIONS AT BIG BAZAAR

• ‘The Great Exchange Offer’ by Big Bazaar drew more than

200,000 customers to avail of the scheme. The store offered a way to
dispose of old household items and receive a price 4-8 times higher
than what the local kabari-wala can give. The months of February and
March are usually dull for consumer buying and the scheme was a
means to boost sales during the slack period.
• Big Bazaar has recently announced a customer relationship
building initiative to reach out to middle-class women customers. A
brand new woman's English magazine, `My World' will be circulated
on a complementary basis amongst all the 210,000 Big Bazaar-ICICI
Bank co-branded credit card holders. My World will provide fashion
and shopping-related information.
• Big Bazaar also had a four-day `Freedom Weekend' offer valid
at all the Big Bazaar outlets, functional from August 12-15. “Freedom
Weekend” ensured never before offers and rock bottom prices on all
household and consumer goods
• The store also plans to set up beauty parlours for men as well as
women with services being offered at a `discount' compared to the
existing market rates, in line with the Big Bazaar's concept of a
discount store.

ADVERTISING
Big Bazaar has been using several media’s to reach its consumers. The
media used includes:
• Television
• Print
• Radio

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THE PRINT CAMPAIGNS

This ad communicates the fact that Big Bazaar offers you products at rates
which you can afford and that fashion is not just confined to a few but
within everyone’s reach. The other ad tried to communicate the special
offers the store had on Women’s Day.

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EXISTING MARKETING STRATEGIES

Hullabol team
In the two tier cities like Nagpur, Nasik etc, they have a “ Hullabol team”
which makes announcements of the discounts in Big Bazaar through
“Nautankis”. This is their strategy to get more footfall in the outlet.

Visual Merchandise
The format used by Big Bazaar for in-store marketing is usage of signages
and navigators which is basically visual merchandise. The Layout of Big
Bazaar is such that the first floor is for the food bazaar which provides the
basic necessity to customers. Thus they lure the customers to enter the
outlet and then with the help of announcements of discounts to the first and
second floor that is the apparel and consumer durables section.

Advertising
Advertising is done through full page newspaper ads and radio. In the full
page newspaper ads, models used are middleclass average looking men and
women and kids to portray a middleclass family.

Ambience
The entire ambience of Big Bazaar like the tiles and ceilings are specially
designed to portray a economical outlook so that the customers can relate it
to the positioning tagline “Is se sasta aur accha kahin nahi”

Market Research
They study consumer behaviour and do market research to supply products
to the population of that region. For example in Gujrat people prefer cotton
more than any other material and hence they have more of cotton apparels
in Gujrat Big bazaar.

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Mahasaving Day
Big Bazaar has the “Wednesday bazaar” wherein a straight 40% discount is
given on the price of products. In addition to this, weekends are the peak
periods for shopping. In Gujrat for example Monday is a holiday. So as a
marketing strategy discounts are introduced on that day specifically.

Marketing Gimmick
They have offers like “buy one and get one free”. However they do have
their margins like 40% in apparels and consumer durables and 20% in food.
Their revenue is from apparels and consumer durables from their local
brands.

They have a tieup with ICICI for credit card for women only for shopping.
They also have loyalty cards for regular customers.
They arrange magic shows and mehendi and tattoo counters for customers
who have purchased above a certain level. These customers get coupons
which can be redeemed by using these counter facilitites.

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CONCLUSION

Big Bazaar is undoubtedly the number one retailer in India. It has built a
very emotional and cordial relationship with its customers. It is also very
intending to build long-term relationship with all its stakeholders, which is
very essential for a successful business venture. It is observed that the
organisation hierarchy is professional as all the departmental Managers
directly report to the Store Manager who in turn reports to the Zonal Head.
Big Bazaar, with 25 years of experience in the field of weaving fabrics, is
the leading Apparels and fashion design Fabric Company.
There exist a healthy and positive relationship between employees and
managers.The employees accept their responsibilities wholeheartedly,
accept that it is their responsibility to carry out a part of the
activities of the company and they will be held accountable for the quality
of their work. It is found that more than 60% of employees are of the age
group of 20-35. From this it reveals that company is having young
and energetic workforce who are very creative, enthusiastic and also very
determined to grow in their career and in turn helping the company to
grow. Working environment is good and also the various facilities
provided helps in motivating the employees. The company is reaching out
to all the sections of the society as it is creating a hypermarket where
not only the rich people shop but also the middle and the lower class
customers come to enjoy the whole shopping experience.

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BIBLIOGRAPHY

 www.bigbazaar.com
 It Happened in India- Kishore Biyani
 www.ibef.org
 www.google.co.in
 www.economictimes.com
 futurebazaar.com

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Measurement of Customer Satisfaction

We have devised a model called CEM- Customer Experience Management
Model to measure customer satisfaction in our stores. The Customer
Experience Management Model focusses on the customer’s experience at
every touch point in the store ranging from their first impression of the
store, to their experience at the trial rooms, toilets, with our staff through
various processes such as billing and exchanges. We have hired a research
agency called MACRO-Market Analysis and Consumer Research
Organisation. This agency sends people who are called ‘Mystery Shoppers’
to visit the stores and then their experience is documented on a feedback
form, which is then sent to us. Based on the feedback formed analysis is
done and the stores are given scores. This allows us to track performance
on customer expectation at overall, format and store levels, determine
critical improvement areas are all levels and also identify opportunities that
we can leverage upon.
Besides, we have also started an in-house initiative called ‘Pragati’
whereby one person from the head office operations team visits the stores
and observes the stores with respect to certain pre-parameters like store
exteriors, baggage window, customer service, store ambience etc. This
activity is done on a quarterly basis and three best stores under each format
are announced. This encourages the stores to improve the efficiency of their
store operations.

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