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Discounts - Who doesn't love acquiring good products at affordable rates? Undoubtedly, we all do! What if there was only a single store in the city or town providing discounts. It would be very difficult for people to reach the destination and do the shopping before it gets overcrowded. Fortunately, with Big Bazaar's shopping experience you don't have to feel the same way as its online and offline stores are available in different parts of India.
Big Bazaar is an Indian retail chain of hypermarkets, discount departmental stores and grocery stores. The company provides the best offers on groceries, food items, kitchen appliances, personal care products and more. Big Bazaar provides a platform to do your shopping with big discounts. In other words, Big Bazaar is another name for big discounts. Read the Big Bazaar success story below.
Big Bazaar - Company Highlights
| Company Name | Big Bazaar |
|---|---|
| Headquarters | Maharashtra, India |
| Industry | Retail |
| Founder | Kishore Biyani |
| Founded | 2001 |
| Website | bigbazaar.com |
Big Bazaar - About
Big Bazaar - History
Big Bazaar - Founder and Team
Big Bazaar - Tagline, Slogan and Logo
Big Bazaar - Business Model
Big Bazaar - Revenue Model
Big Bazaar - Growth
Big Bazaar - Competitors
Big Bazaar - Future Plans
Big Bazaar - FAQs
Big Bazaar - About
Big Bazaar is a company that operates a chain of departmental and grocery stores offering vegetables, fruits, dairy, personal products, garments, etc. Big Bazaar is also the parent company of Fashion at Big Bazaar, eZone and Food Bazaar. It is one of the largest and oldest chains of departmental stores in India.
Big Bazaar - History
Kishore Biyani, the owner of Big Bazaar, had big dreams with his business as he was from a business family. The company aimed to provide good quality products at affordable prices. He took the retail industry by storm. He had gone through various breakthroughs and setbacks. Big Bazaar brought a major difference in his life. In 2001, the first store was found in Kolkata and within the next 22 days, he opened more than 2 stores. Since that day he has opened more than 100 stores in India. The idea of Big Bazaar came from 'Saravana'. This store was a part of the Biyani family business.
Yash Raj Srivastava
Big Bazaar - Founder and Team
Kishore Biyani is an Indian businessman, an organizer, trader, and also a failed filmmaker. But eventually, he became the Founder and the CEO of the Future Group, which is one of India's biggest retail chains. Kishore Biyani is also the founder of companies like Big Bazaar and Pantaloons. He was born on 9th August 1961, in Mumbai in a family that has been involved in the business since the period of his grandfather. His grandfather had a clothes shop when it used to be known as Bombay. Kishore is currently a man of 59 years.
Shubham Kumar
Big Bazaar - Tagline, Slogan and Logo
Big Bazaar has got several taglines -
- Naye India Ka Bazaar (current)
- Is se sasta aur accha kahin nahi! (this particular tagline claimed that consumers won't find such goods at affordable rates anywhere else)
- Making India Beautiful
Big Bazaar - Business Model
Big Bazaar operates on a B2C business model. It offers numerous products at a single platform to its consumers. It is considered to be one of the largest departmental stores in India. The company provides awesome discounts and offers to the customers. This is the only factor that attracts all sorts of people to Big Bazaar.
Products like home and furniture, electronics, jewelry, toys, sporting and fitness, grocery, clothing, movie and music, footwear, craft and party supplies, stationery, kitchen appliances, etc. can be found under one roof. This is the specialty. The principle of the company is - low margin and high turnover. This is the only reason behind finding offers every time in the stores.
Big Bazaar - Revenue Model
Founded in 2001 with a single store and now available with more than 250 stores in over 120 towns and cities across India, Big Bazaar came a long way. Today, there are around 12 million outlets in the country. Out of this 12 million, only 5 million stores sell food products and eatables. Rest sell utility products like household items, clothes, etc. The revenue model of Big Bazaar is very clear - just selling more products at their price by using the following tactics:
- Bulk Purchase: Big Bazaar purchases all the items in bulk from the manufacturer at a low price, then sells them to the consumer after adding its margin price.
- Product Bundling: Big Bazaar bundles the slow-moving products with high-moving products to clear its stock and provide them to customers at a discounted rate. This helps them in stock clearance. Also, the product bundling can be witnessed from the manufacturer's side as well. Sometimes, the manufacturers anticipate the wrong demand and produce the product in large quantities. In order to maintain the inventory, the manufacturer sells them at discount. And eventually, the companies like Big Bazaar purchase those products at discount rates and sell them at profit.
- Leveraging the products: The companies like Big Bazaar leverage the particular brand's product in order to increase its visibility in the store. The customer may find the product of any brand in a particular section of the store.
Arbaz Sayed
Big Bazaar - Growth
According to the reports, there is a chance of the growth rate to increase by 9% in the year 2021. There was also a decrease of 13% in the year 2018 in the growth sector.
Big Bazaar - Competitors
The top competitors of Big Bazaar are DMart, Bigbasket and Grofers.
- DMart is the top competitor of Big Bazaar. The company is headquartered in Mumbai, Maharashtra, India and was founded in 2000. DMart is the counterpart of Big Bazaar.
- Bigbasket is one of the top rivals of Big Bazaar. The company is headquartered in Bangalore, Karnataka, India and was founded in 2011. Bigbasket operates in the Poultry, Meat and Fish field.
- Grofers is perceived as one of the top competitors of Big Bazaar. The company is headquartered in Gurgaon, India and was founded in 2014. It operates in the grocery sector.
Rishabh Rathi
Big Bazaar - Future Plans
Big Bazaar is willing to concentrate more on the expansion strategy rather than anything else. It is willing to expand into the tier-II cities of India, especially which are less impacted by the Covid-19 pandemic and have got greater aspirations.
Big Bazaar - FAQs
What is Big Bazaar?
Big Bazaar is an Indian retail chain of discount departmental and grocery stores that provides a shopping platform for groceries, food items, kitchen appliances, personal care products and more at discounted rates. It caters to every need of your family.
Who is the founder of Big Bazaar?
Kishore Biyani is the founder of Big Bazaar.
When was Big Bazaar founded?
The Big Bazaar was founded in 2001.
Who is the CEO of Big Bazaar?
Sadashiv Nayak is currently the CEO of Big Bazaar.
Is Big Bazaar changing its name?
Reliance had acquired Future Group's Big Bazaar in a Rs 24,000-Crore deal but the brand name will not be changed.
Why Big Bazaar was sold to Reliance?
Big Bazaar was in huge debt and couldn't arrange funds for meeting the need of working capital requirements and loan repayments. Therefore, it was sold to Reliance.
Author: Purbalee Dutta
Source : https://startuptalky.com/big-bazaar-success-story/
Date : 2021-08-12T06:57:00.000Z