Big Bazaar

Big Bazaar

Type	Hypermarket-Supermarket
Industry	Retailing
Founded	2001
Headquarters	Mumbai, Maharashtra, India
Products	Hypermarket
Revenue	₹110 billion (US$1.6 billion) (2012)
Number of employees	~ 36000 people[1]
Parent	Future Group
Divisions	~ 215
Website	http://www.bigbazaar.com

Big Bazaar is the largest hypermarket chain in India.^[2]

Schemes and innovations

Wednesday Bazaar

The concept of Wednesday Bazaar was promoted as 'Hafte Ka Sabse Sasta Din' (Cheapest Day of the Week). Initiated in January 2007, the idea behind this scheme was to draw customers to stores on Wednesdays, the day when consumer presence is usually less. According to the chain, the aim of the concept was 'to give home makers the power to save the most'.^[3]

Maha Bachat

The concept of 'Maha Bachat' (Mega Saving) was introduced in the year 2006 as a single day campaign with promotional offers across the company outlets. Over the years, the concept has grown to become a six-day bi-annual campaign. During the campaign, offers are given in all the value formats including Big Bazraar, Food Bazaar, Electronic Bazaar, and Furniture Bazaar.^[4]

The Great Exchange Offer

Introduced on 12 February 2009, 'The GReat Exchange Offer' allows customers to exchange their old goods for Big Bazaar coupons. The coupons can be redeemed later for buying brand new goods from Big Bazaar outlets across the nation.

All three scheme are active till date 2015 ^[5]

The Great Exchange Offer are active till date 2016 valid from 20 Feb 2016 to 3rd Apr 2016.

Advertising campaigns and marketing initiatives

New logo

On the occasion of completion of ten (10) years in the Indian retail industry (in 2011) Big Bazaar came up with a new logo for the company with a tag line that says: 'Naye India Ka Bazaar' (Market for New India). This replaces the earlier tag line: 'Isse Sasta Aur accha Kahin Nahin' (Nowhere will you get cheaper and better than this).

Advertising initiatives

Big Bazaar has launched a promotion drive covering the three prime media, television, print and social media, to mark the launch of the new logo. The media campaign was developed by Mudra Communications.^[6]

Company timeline

2001

• Three stores launched within a span of 22 days in Kolkata, Bangalore and Hyderabad.^[7]

2002

• ICICI Bank Card is launched.
• Food Bazaar becomes part of Big Bazaar with the launch of the first store in Mumbai at High Street Phoenix.

2003

• Enters Tier II cities with the launch of the store in Nagpur.
• Welcomes its 10 millionth customer at its new store in Gurgaon.

2004

• Wins its first award and national recognition. Big Bazaar and Food Bazaar awarded the country’s most admired retailer award in value retailing and food retailing segment at the India Retail Forum.
• A day before Diwali, the store at Lower Parel becomes the first to touch Rs 10 million turnover on a single day.

2005

• Implementation of SAP and pilots a RFID project at its central warehouse in Tarapur.
• Launch of a shopping program: the Big Bazaar Exchange Offer, inviting customers to exchange household junk at Big Bazaar.
• Electronic Bazaar and Furniture Bazaar are launched.
• Big Bazaar and ICICI Bank launched ICICI Bank-Big Bazaar Gold credit card program to reward its loyal customers.

2006

• Mohan Jadhav set a national record at Big Bazaar Sangli with a Rs 137,367 shopping bill. The Sangli farmer becomes Big Bazaar’s largest ever customer.
• Launches Shakti, India’s first credit card program tailored for housewives.
• Navaras – the jewellery store launched within Big Bazaar stores.

2007

• The 50th Big Bazaar store is launched in Kanpur.
• Partners with Futurebazaar.com to launch India's most popular shopping portal.
• Initiates the "Power of One" campaign to help raise funds for the Save The Children India Fund.
• Pantaloon Retail wins the International Retailer of the Year at US-based National Retail Federation convention in New York and Emerging Retailer of the Year award at the World Retail Congress held in Barcelona.

2008

• New section, Fashion@Big Bazaar, starts.
• Voted among the top ten service brands in the country in the latest Pitch-IMRB international survey.
• Initiates the Mega Saving "Monthly Bachat Bazaar" campaign, to provide deals on groceries and food items during the first week of every month.

2009

• Opens its second store in Assam at Tinsukia.
• Initiates Maha Annasantarpane program at its stores in South India – an initiative to offer meals to visitors and support local social organizations.
• Mahendra Singh Dhoni and Asin, youth icons of India, were chosen as the brand ambassadors of Big Bazaar
• Announced the launch of The Great Exchange Offer.
• Formed a joint venture with Hidesign to launch Holii, a new brand of handbags, laptop bags and other accessories.

2010

• Future Value Retail Limited is formed as a subsidiary to spearhead the group’s value retail business through Big Bazaar, Food Bazaar and other formats.
• Wins CNBC Awaaz Consumer Awards for the third consecutive year. Adjudged the Most Preferred Multi Brand Food & Beverage Chain, Most Preferred Multi Brand Retail Outlet and Most Preferred Multi Brand One Stop Shop.
• Opens its third store in Kanpur at Z Square Mall.
• Vidya Balan was chosen as the brand ambassador of Big Bazaar's Price Challenge exercise.
• Ranked six among the Top 50 Service Brands in India.^[8]

2011

• Enters the rural wholesale and distribution business through 'Aadhaar Wholesale' store at Kalol, Gujarat.
• The company designs a new logo with a new tag line: 'Naye India Ka Bazaar'.^[9]
• 200th store opened in India.^[10]

References