Competitor Analysis

COMPETITOR ANALYSIS FOR AN UPCOMING MULTI-BRAND FASHION RETAIL STORE BY: SHIVANGI SRIVASTAVA B.F.TECH SEMESTER VIII

OBJECTIVE OF THE PROJECT Ascertain the competitor’s positioning and value proposition in the market and in consumer perception Understand the assortment breadth/depth in terms of the major items, styles, colors, sizes and brands stocked Determining the Price points of different Categories Determining the Promotion Mix used by the Competitors To find out the human resource allocation plan with a view to understand remuneration and incentives

LIMITATIONS OF THE PROJECT Time constraint- The operational period of the project did not match with the promotional schemes and offers of the stores under study. The issues considered confidential by the store authorities were not revealed because of which we could not gain access to several data and information which we considered vital for the betterment of the project. The Project does not delve into financial aspects of retailing such as ROI, Inventory turns, Return per Square feet . It focuses clearly on marketing and merchandising elements only.

COMPETITOR ARRAY Methodology STEP 1: Defining the industry - scope and nature of the industry STEP 2: Determining the competitors STEP 3: Determining the key success factorspresent in the industry STEP 4: Determining Customer preferences and expectations

STEP 1: DEFINING THE INDUSTRY Format Type: Multi- Brand Fashion Retail Store Merchandise Mix: comprising of 30% private labels and 70% National and International Brands. Retail Space: 30,000 sq.ft approx. (3 floors) Manpower: Back-end: 20 approx. Front-end: 15/floor approx Targeted Customer Profile: Fashion conscious consumers in SEC A and B.

STEP 2: DETERMINING THE COMPETITORS

STEP 3: DETERMINING THE KEY SUCCESS FACTORS The Competitor Analysis is being done with respect to the following key parameters or 5 P’s: POSITIONING PRODUCT PRICE PROMOTION PEOPLE

PRESENT POSITIONING OF SHOPPERS STOP Mr. Ajay Kelkar, Customer Care Associate and Senior Marketing Manager, Shoppers' Stop, “In our present campaign, we have shifted our positioning from focusing on retail space to the mind space of our consumers.“

COMPARISON OF VARIOUS PARAMETERS WESTSIDE LIFESTYLE SHOPPERS’ STOP FACADE

COMPARISON OF VARIOUS PARAMETERS Outside view of trial rooms

WESTSIDE LIFESTYLE SHOPPERS’ STOP Lights on ceilings of the trial room AC Vent outside the trial room & hooks AC Vent inside the trial room Centralised AC Mirrors on just one side Mirrors on 2 sides- not aligned from edge to edge and lights in between the mirrors Mirrors on 3 sides- aligned from edge to edge and lights in between the mirrors Stool placed in the trial rooms Door of the trial room with hooks Door of the trial room with hooks

COMPARISON OF VARIOUS PARAMETERS Staircase

WESTSIDE SHOPPERS’ STOP LIFESTYLE Huge mirrors In all the segments Narrow width single mirror on each floor Huge mirrors at the accessory segment Sofas and chairs present at every level near cash counters as well as between sections No Seating Arrangement for customers Chairs present near the cash counters One-way Escalator Capsule Lift One-way escalator and staircase

WESTSIDE LIFESTYLE SHOPPERS’ STOP Aisle space between different sections

Ceilings with lightings Flooring

GENERAL OBSERVATIONS It is noted that in most of the categories the no. of style options available in Lifestyle is 20-25% lesser than that of Shoppers’ Stop; except Footwear Category- Lifestyle Shoe Mart collection far exceeds that of Shoppers’ Stop. In most of the Categories the no. of style options available in Westside is almost half of Lifestyle 4-5 colors (approximately) are available for most of the styles like for T-shirts, Tops, kurtis, etc. ASSORTMENT PLAN

MEN’S WEAR OBSERVATIONS Private label in Shoppers’ Stop and Lifestyle does not exist for categories like Suits and Coats Jackets Track pants Shorts Denim Shirts Ethnic Wear(Lifestyle had both but price point was not distinct) Innerwear like Vests, Underwear, Belts, etc. Style options available in Formal Trousers in Shoppers’ Stop, Lifestyle and Westside are almost equal Value Pack of 3 T-Shirts in a set in Different colors was being promoted in both Shoppers’ Stop and Lifestyle whereas it was not present in Westside. ASSORTMENT PLAN

MEN’S WEAR OBSERVATIONS Innerwear was mostly available in sets. More of singles counts are used for sport/casual wear shirts across all the brands After cotton/ cotton mix (60%) Polynosic (21%) trousers were predominantly present in Shoppers’ Stop and Lifestyle. Fast moving size : 40” and 42” (shirt) both account 66%, 32” and 34” (Trouser) both account 62%. Least moving size: 46” and 44” (shirt) both account 9% only, 38” & 40” in trouser 4%. ASSORTMENT PLAN

WOMEN’S WEAR OBSERVATIONS Presence of only Private Label in Lifestyle and Shoppers’ Stop in Categories: Formal Skirts Casual Skirts Presence of only National Brands in Shoppers’ Stop and Lifestyle in Categories: Cargoes Track-Pants Shorts Denim Skirts Category SKD in Lifestyle and Westside had almost similar style options. Ikat, khadi, Mangalgiri are popular among kurtis and SKDs. ASSORTMENT PLAN

WOMEN’S WEAR OBSERVATIONS Style options available in Lifestyle and Shoppers’ Stop are almost Same in categories: Formal Shirts T-Shirts and Tops Denim Skirts Cargoes Shorts Denims Belts Slips and Spaghettis Style options available in Lifestyle is more than that of Shoppers’ stop for Categories: Scarfs Kurta ASSORTMENT PLAN

KID’S WEAR OBSERVATIONS There is a dominance of the blue and pink colors. Party wear frocks present were constructed by material poly-cotton, poly-viscose and other synthetic blends. Wider options are available for smaller sizes(smaller age group). ASSORTMENT PLAN

FOOTWEAR’S WEAR OBSERVATIONS Lifestyle has got a very strong merchandise mix as compared to its competitors. HawaiChappals and Kolhapuri shoes are only present in Lifestyle. Lifestyle has got more than double collection of Women’s slippers than that of Shoppers’ Stop. Lifestyle has got more than the four times the collection of Women’s casual shoes than that of Shoppers’ Stop. Westside has very limited style options especially for Men’s Category. ASSORTMENT PLAN

GENERAL OBSERVATIONS Price-points of lifestyle and Shoppers’ Stop are almost head-on-head; except Men’s Jacket Women’s slippers Women’s Sports Shoes The price point of Westside is prominently low as it comprises only of Private Labels. ASSORTMENT PLAN

MEN’S WEAR OBSERVATIONS Maximum options were present in the price-point 1199 for both Shoppers Stop and Lifestyle in Formal Shirts while in Westside it was in price-point 699. Highest price-point for Suits and Jackets was present at Shoppers Stop at 16499. ASSORTMENT PLAN

WOMEN’S WEAR OBSERVATIONS No distinct price-points for private label and National Brands in Shoppers Stop as well as Lifestyle for Formal shirts Jackets Ethnic Wear Scarf It was observed that there was a vast difference in price-points of private labels and that of National Brands in Shoppers Stop and Lifestyle for Suits and Coats ASSORTMENT PLAN

WOMEN’S WEAR OBSERVATIONS Kurtas with Yolks (priced at 549) were present in Lifestyle and not in ShoppersStop and Westside. Kurtas with belt (priced at 399) were present in Westside and not in Shoppers Stop and Lifestyle Kurtas with pin tucks (priced at 599) were present in Westside and not in Shoppers Stop and Lifestyle. Empires waistlines (priced at 499) were present in ShoppersStop and not in Lifestyle and Westside ASSORTMENT PLAN

KID’S WEAR OBSERVATIONS Maximum options were present in the price-point 399 for both Shoppers Stop and Lifestyle in tops while in Westside it was in price-point 299. Maximum options were present in the price-point 699 for both Shoppers Stop and Lifestyle in bottoms while in Westside it was in price-point 299. Basic products of Lifestyle and Shoppers Stop start at higher price points than those of Westside. ASSORTMENT PLAN

FOOTWEAR’S WEAR OBSERVATIONS Lifestyle has got maximum option available at price point 799 for Women’s Slippers. Lifestyle has got maximum option available at price point 1399 for Women’s Casual Shoes. Gaps exist in Price point of Kid’s Footwear in Lifestyle – like Girl’s shoes are available for 1500 and 1000 and there is no price point between them ASSORTMENT PLAN

IV. PROMOTION: SHOPPERS STOP END OF SEASON SALE

IV. PROMOTION: SHOPPERS STOP SALE PROMOTION-USE OF RED COLOR SALE PROMOTION-USE OF GREEN COLOR TEMPORARY GATE MADE DURING THE SALE PERIOD

MERCHANDISE STACKED AND DUMPED DURING THE SALE

EXTENSIVE USAGE OF SIGNAGES DURING SALE IN GREEN AND ORANGE COLOR TO HIGHLIGHT TH DISCOUNT

SIGNAGES USED TO HIGLIGHT ATTRACTIVE DEALS OFFERED ON NATIONAL BRANDS

HOARDINGS AT VARIOUS PLACES IN THE CITY TO PROMOTE THE END OF SEASON SALE

WELL-KNOWN BRANDS BEING PROMOTED THROUGH WINDOW DISPLAY WINDOW DISPLAY

THEME- THINK GREEN THEME- REFRESH… THEME BASED PROMOTION

IV. PROMOTION: LIFESTYLE END OF SEASON SALE depicted on a bright red background along with the sale period duration as well as maintaining its position of being a fashionable store..

WINDOW DISPLAY PROMOTION reflecting the youth spirit and their vibrant lifestyle

Premium Brands Being Promoted Through WINDOW DISPLAY

Brand Name Promotion Of Store On WINDOW DISPLAY

THEME BASED PROMOTION ON WINDOW DISPLAY

IV. PROMOTION: WESTSIDE Newspaper Ad and in-store sales promotion with extensive use of red color to attract customer focus END OF SEASON SALE

IV. PROMOTION: WESTSIDE PROMOTION DURING DIFFERENT SEASONS ‘Stay stylish this monsoon with westside’ July, 2007 ‘Buy 2, get 1 free’ offer on kidswear! Back to College offer on Youth Wear Jungle Safari promotion offer on kids stuff Flirt with Florals this summer

Special promotion for stock completion Promotion by means of Vinyl posters and mannequins Signages denoting various dept. IN-STORE PROMOTIONS Promotion of Infant trolley with Soft Toy Use of Banners for promotion

STEP 4: DETERMINING CUSTOMER PREFERENCES & EXPECTATIONS EXCEL SHEET

STEP 4: DETERMINING CUSTOMER PREFERENCES & EXPECTATIONS QUESTIONNAIRE ANALYSIS (Positioning related) EXCEL SHEET

STEP 4: DETERMINING CUSTOMER PREFERENCES & EXPECTATIONS QUESTIONNAIRE ANALYSIS (Merchandise related) LINK

STEP 4: DETERMINING CUSTOMER PREFERENCES & EXPECTATIONS QUESTIONNAIRE ANALYSIS (Merchandise & Price related) LINK

STEP 4: DETERMINING CUSTOMER PREFERENCES & EXPECTATIONS DEMOGRAPHIC DETAILS

SHOPPING EXPERIENCE VM CUSTOMER SERVICE VALUE FOR MONEY STYLE OPTIONS NO. OF NATIONAL BRANDS SIGNAGES PARKING FACILITY S A T I S F A C T O R Y AMBIENCE SALES PROMOTION LOYALTY PROGRAMS ADVERTISEMENT EXCHANGE PROVISION BILLING FACILITY AISLE SPACE VM BILLING FACILITY AISLE SPACE PARKING FACILITY SHOPPING EXPERIENCE LOYALTY PROGRAMS NO. OF NATIONAL BRANDS EXCHANGE PROVISION VALUE FOR MONEY STYLE OPTIONS CUSTOMER SERVICE SIGNAGES AMBIENCE ADVERTISEMENT SALES PROMOTION U N S A T I S F A C T O R Y

RECOMMENDATIONS- FOR POSITIONING The new retail store should be positioned in between Lifestyle and Shoppers Stop with emphasis on quality and fashion and latest trends that provides value for money to the customer giving them a wonderful shopping experience. The upcoming store should have a suitable loyalty program. The tagline of the store should be clear and simple so that the customer can easily relate it to the fashion retail store Advertisement via television should be used apart from other means like hoarding, newspaper, pamphlets to create awareness and publicity Brand endorsement should be done by using celebrities to arouse the interest of the target customer and to position it on the fashion plank The outlet should emphasize on brand building as people buy product not as a brand but as a store product

RECOMMENDATIONS- FOR POSITIONING ,[object Object],Mannequins should be located properly and used wisely to provide for an effective visual merchandising. There should be no visible price tags on them. Planogram should have a logical flow to add to the customers’ convenience Same color story should be used both for nesting table as well as for wall display The nesting table should carry latest in fashion and merchandise should be styled and not stacked on it The merchandise should be stacked low or else it creates an effect of a hypermarket Arrangement on Nesting Table

RECOMMENDATIONS- FOR POSITIONING There should be a minimum of 6 feet aisle space between different segments to facilitate movement Comfortable seating arrangement should be provided There should be atleast 5 trial rooms in each segment which should be spacious having mirrors on 3 sides, hooks provided on the door, sufficient lighting and stool. Prominent signages should be placed in each of the sections indicating the sizes, styles, section name, etc to avoid any sort of ambiguity It should also provide for services like alterations and exchange provisions to strengthen customer services Adequate lighting facility at window display should be there to enhance its affect. Private labels should be advertised to create awareness among the target customers The store should provide for a good ambience by use of appropriate lighting fixtures, walls and ceiling design, flooring etc

RECOMMENDATIONS- FOR PRODUCT Merchandise mix should comprise of national and international brands (70%) and private labels (30%) for the upcoming fashion retail format Fast moving sizes should be determined and provisions should be made for stock replenishment New offerings should be clubbed and displayed in reasonably size and place Each option in all brands should be reviewed after initial response from customers There should be sufficient style options across all segments and categories Quality should be maintained and the merchandise provided should also be durable apart from being stylish and trendy

RECOMMENDATIONS- FOR PRICE Price gaps should be minimized as much as possible to offer the customer options at each price point Merchandise should cover a wide range in terms of price points so that it caters to different customer segments having different disposable income The merchandise mix should be priced at intervals of hundred rupees.

RECOMMENDATIONS- FOR PROMOTION Promotion mix should include print media, hoardings and advertisement on air (TV, radio) and internet Since in different parts of India different festivals are important, the store should promote its merchandise according its demography to encash on the festive mood of the customers Even during the end of season sale, the merchandise should not be dumped as it gives a very uncouth look and is not appealing to the customer and may go against the store image and positioning

RECOMMENDATIONS- FOR PEOPLE The CSAs should be regularly given product training so that they can clear the minor queries of the customer regarding fabric quality, composition etc The CSAs should be provided sales training to understand the customer temperament and convince them to buy There should be incentive schemes given to CSAs which should include a share of the sale done by them

Senior Concept Manager (1) Concept Manager (1) Merchandise Controller (1) Assistant Concept Manager (1) Asst Merchandise Controller (2: Men + Ladies) Supervisor (2) Ladies Western Wear Supervisor (1) Mens Formals, Casuals & Accessories Supervisor (1) Denim Wear Supervisor (1) Ladies Ethnic & Lingerie Senior CSAs (2) Mens Formal & Accessories Mens Casual Senior CSAs (2) Senior CSAs (2) Senior CSAs (2) 1. Ladies Ethnic 2. Lingerie CSAs (including juniors) -35 SUGGESTED HIERARCHY FOR THE FASHION RETAIL STORE

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