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Visual Merchandizing & Brand Communication

COMPANY PROJECT STUDY REPORT:

FASHION GLOBAL RETAIL PRIVATELIMITED.

Visual Merchandizing

&

Brand Communication for the LOOTMART store.

Completed at: Pantaloon Retail India Ltd (PRIL)

Under the Guidance of: Mr. Swapnil Laghate (Manager, Value Fashion)

Date: 2nd

April 31st May 07

Submitted by: Nimit Mathur

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CERTIFICATE OF APPROVAL

The following Summer Project Report titled "Visual merchandizing and

Brand Communication for the LootMart store is hereby approved as a

certified study in management carried out and presented by Nimit Mathur,

student of SYMBIOSIS INSTITUTE OF MANAGEMENT STUDIES

in a manner satisfactory to warrant its acceptance as a prerequisite for the

award of Post-Graduate Diploma in Management for which it has been

submitted. It is understood that by this approval the undersigned do not

necessarily endorse or approve any statement made, opinion expressed or

conclusion drawn therein but approve the Summer Project Report only for

the purpose for which it is submitted.

Under Guidance of: Approved By

Mr. Swapnil Laghate Mr. Dheeraj Agarwal

Manager, Marketing/Operations Asst. Manager H.R.

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ACKNOWLEDGEMENT

I take this opportunity to express my regards with deep sense of gratitude to

Mr. Swapnil Lagathe (Manager, Value Fashion) who gave me an

opportunity to under go training in his esteemed organization.

I sincerely thank Mr. Hemant Kejriwal (Sr. Manager, Value Fashion), my

industry guide for his guidance and support through out the project. Also I

would like to thank all the associates of Pantaloon Retail India Ltd (PRIL),

for their cooperation and for providing me with a congenial working

environment.

I would also like to thank Brig. H. Chukerbuti (Director, Symbiosis Institute

of Management Studies) & Prof. D.S. Kadam (Deputy Director) for letting

me have a glance at the corporate world.

Last but not the least, I would like to thank my family members and friends,

who knowingly or unknowingly helped and supported me during the courseof training.

Sincerely,

Nimit Mathur.

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Content

Executive Summary5

Company profile.6

Objective & Methodology..8

Observations.......................9

Recommendation

Visual Merchandizing.10 New VM for the Store13 Brand Communication19

Retail Trends in India22

Bibliography..26

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Executive Summary

The project was undertaken during the summer internship at Pantaloon

Retail India Ltd (PRIL).

My project was to develop the LOOTMART brand in India. I assisted in the

development of the Brand LOOTMART, helped in various promotions and

communications about the brand. The work involved conceptualizing and

implementation of advertisements (Print Ads, Banners, Posters and Leaflets

etc.) both in the stand alone and in-mall promotional activities. My work

also involved the standardization of the signage, in-store communication

which was to simplify the design of various furniture used in the store like

shelves, browsers, gondolas etc. The contribution of my findings and

observations were practiced in the LOOTMART stores all over INDIA and

also in all the upcoming stores. Various recommendations helped the retailer

communicate better with the consumer and were established as the standard

practices.

Visual Merchandising was a way to standardize the communication the

impact of the stores image and the advertisements on the consumers mind.

The project with Pantaloon was to find the suitable ways of doing the same

and also making it simpler for the store managers to implement. I was

responsible for standardizing the practices to be followed and suggesting

newer and innovative ways of Visual Merchandising.

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Company Profile

Pantaloon Retail is the flagship enterprise of the Future Group, which is

positioned to cater to the entire Indian consumption space. The Future

Group operates through six verticals: Future Retail (encompassing all retail

businesses), Future Capital (financial products and services), Future Brands

(management of 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).

Future Capital Holdings, the group's financial arm, focuses on asset

management and consumer finance. It manages two real estate investment

funds (Horizon and Kshitij) and consumer-related private equity fund, in

division. It also plans to get into insurance, consumer credit and other

consumer-related financial products and services in the near future.

Future Group's vision is to, "Deliver Everything, Everywhere, Every time

to Every Indian Consumer in the most profitable manner." One of the core

values at Future Group is, 'Indianess' and its corporate credo are - Rewrite

rules, Retain values.

Pantaloon Retail (India) Limited, is India's leading retail company with

presence across multiple lines of businesses. The company owns and

manages multiple retail formats that cater to a wide cross-section of the

Indian society and is able to capture almost the entire consumption basket

of the Indian consumer. Headquartered in Mumbai (Bombay), the company

operates through 5 million square feet of retail space, has over 331 stores

across 40 cities in India and employs over 17,000 people. The company

registered a turnover of Rs 2,019 crore for FY 2005-06.

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Pantaloon Retail forayed into modern retail in 1997 with the launching of

fashion retail chain, Pantaloons in Kolkata. In 2001, it launched Big Bazaar,

a hypermarket chain that combines the look and feel of Indian bazaars, with

aspects of modern retail, like choice, convenience and hygiene. This was

followed by Food Bazaar, food and grocery chain and launch Central, a

first of its kind seamless mall located in the heart of major Indian cities.

Some of its other formats include, Collection i (home improvement

products), E-Zone (consumer electronics), Depot (books, music, gifts and

stationary), aLL (fashion apparel for plus-size individuals), Shoe Factory

(footwear) and Blue Sky (fashion accessories). It has recently launched its

e-tailing venture, futurebazaar.com.

The group's subsidiary companies include, Home Solutions Retail India

Ltd, Pantaloon Industries Ltd, Galaxy Entertainment and Indus League

Clothing. The group also has joint venture companies with a number of

partners including French retailer Etam group, Lee Cooper, Manipal

Healthcare, Talwalkar's, Gini & Jony and Liberty Shoes. Planet Retail, a

group company owns the franchisee of international brands like Marks &

Spencer, Debenhams, Next and Guess in India.

Leadership is a value that is followed by one and all at Pantaloon.

Leadership is the quality that motivates us to never stop learning, stretching

to reach the next challenge, knowing that we will be rewarded along the

way. In the quest of creating an Indian model of retailing, Pantaloon has

taken initiatives to launch many retail formats that have come to serve as a

benchmark in the industry.

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Objective

To evaluate and create an attractive in-store identity and an appropriate

brand communication for the LootMart store.

Methodology

Step 1 Study LootMarts Structure.

Step 2 Observe and study the target market and the products offered at the

LootMart Store.

Step 3 Based on the observation and the USP of the brand create an in-

store identity and brand communication keeping in mind their target market,

their product range, and the promotions to be offered.

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Observations:

While working on the following project I made a few interesting observation

about the brand, its working and the retail sector as a whole. These were:

LootMart was a new concept introduced by the Value Fashion withthe USP being Selling big brands at amazingly low prices.

At present they had 18 stores across various cities all over India andwere opening more at a rapid pace.

The in-mall and in-store display and communication was very dulland did not have any set theme or style. This created confusion for

our target market and led to fewer footfalls.

The stores (Orchid Centre in particular) were too congested andlacked an attractive and appealing look.

The store was unorganized and everything seems to be just stockedbut not presented to the customer.

Brands available, sizes, different offers/schemes were not highlightedproperly.

Though we had a colour theme around which the store was done butit still lacked a sort of standardization.

We had the best of brands available with amazing merchandize but Iguess we were surely lacking in communicating effectively with our

target audience.

These initial observations of mine helped me in tackling my project

effectively and efficiently. Working in a Retail company for the first time I

learnt how various departments co-ordinate and work towards a common

goal. The project taught me the various aspects of Visual Merchandizing

and Brand Communication and their relative importance in creation of a

successful and a strong brand.

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Recommendations

PART 1: Visual Merchandising.

1. Be Original

Boredom. Sameness. Mediocrity.

We need to continuously innovate with new and attractive ideas. We must give our customers as many reasons as possible to shop in

our store and make it a happy and satisfying experience for them. We should try and play around with the layout of the store and keep

experimenting.

Lighting

The following recommendations can provide us with a good starting point:

Use colour corrected bulbs. Improper bulbs make merchandise lookgrey and shabby.

We can make use of spot lights, preferably halogen, to highlight keyselling areas.

Make the front of the store "glow" with light. Lootmart needs to benoticed and a bright storefront is more attractive and appealing.

Address the Senses

Create a sensual experience in your store by paying attention not only to

sight, but also to smell, touch and sound.

Pay attention to how our store smells.

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Music is an essential element in any store. A relaxed and fun workplace will also increase the productivity and morale levels of your

employees. Lootmart should use music that suits our target market. .

Store Windows

Your storefront windows are an ideal opportunity to attract customers

attention and drag them into your store. Windows should be used for these

main purposes:

Sales promotions Image-building Seasonal changes New arrivals High demand items

- We must change our windows as often as every week. Customers pass by

our store at least two or three times a week.

- You must constantly present a fresh and exciting face.

Creative Displays

Our displays should tell a story or have a theme. The new design forLootMart has incorporated that.

Keep displays simple. Dont include too many items. Try portraying our products in use. Use well-stocked power walls/displays to show best sellers. Show complementary/coordinating items together. We should try and integrate our advertising into our displays.

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Signage

As much as 80% of all sales are generated at point of purchase by signage,

displays and events within the store. Signage is the "silent salesperson" for

the retailer and must reflect our image.

We should broadly consider the following 4 basic types of signages:

1) Promotional signs: For off-price events or specials.

2) Location signs: For direction to specific departments.

3) Institutional signs: For store policies, charitable events.

4) Informational signs: For product related features/ benefits/prices.

Make our signs short and sweet. Create a consistent look. Colour, size, type, style, and layout should

be consistent, which the new VM for LootMart has imbibed.

Use feature/benefit/price signs. We should only post positive signs about our policies. If it's negative,

either change it or don't post it.

Say "Save Rs.100", instead of "10% off". Its usually much morepowerful.

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New VM for the LootMart Store.

Wall

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Danglers

Hanging Pointer

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Wall Vertical/Pillars

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Scheme Announcer

Carry Bags

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Mission Statement Board

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Faade

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PART: 2 Brand Communication.

Brand Communications engages the highest levels of management because

it brings strategy, finance and marketing communications together to

manage the brand to optimize its value. It serves as a catalyst for uniting

executive, financial and marketing management and ultimately helps to

remove internal barriers that may have prevented an integrated

communications effort.

Step 1: Start understanding the role of branding your business.

Analyzing the role that brand plays and can play in securinggreater loyalty across the business.

Where does LootMart stand now and where it can be taken.

Step 2: Understand whom you need to reach.

Identify key target audiences. Distinguish between targets that drive the success of the business and

targets that simply contribute to, or influence, its success.

Get people to change the way they think about LootMart Store. Design a brand strategy that connects with our driving audiences and

a communications plan to connect with your contributing audiences

which is more or less in place for the LootMart store.

Step 3: Frame your BIG idea.

Define unique value propositions.19


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Communicating meaningful distinctiveness is a catalyst for growth. Differentiated and stand apart from competitive propositions Credible in their believability. Have the stretch to grow with your business as it evolves.

Step 4: Build the messages to shift perceptions.

Change the way people think about you. Deliver precisely targeted messages that rise above the clutter and

compel them to alter their assumptions.

Before you spend, make sure the messages are right.

Step 5: Understand the role of each medium in making the shift and

sustaining momentum.

Each progressive stage of involvement requires more individualizedcommunications to meet the needs of your audience.

Depending upon what stage of Product Life Cycle our LootMart storeis going through we should decide upon the medium of

communication.

For a format like ours we should concentrate more on print media,hoardings, banners and more of cross-promotions.

Step 6: Revisit step 3.

Return to your messages and explore opportunities to make themmore compelling.

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Return to your media assumptions and determine if youre reachingyour targets.

Return to your budgets and determine if youve allocated them aseffectively as possible.

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Recent trends in the retail sector in India.

Real estate costs:

Most retailers expressed concerns about the high cost of real estate today.

On the other hand, the average purchase ticket size in India is still low. This

could lead to a situation of high fixed cost, with low contribution per sale for

retailers. High footfalls would be a necessary condition for success. Unless

real estate costs become conducive to retail growth, most retail business will

take a longer time for break-even. Also the problem of excess general malls

with similar value propositions is posing a menace of choked rapid

urbanization.

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Distribution costs:

A key bottleneck mentioned by respondents is the absence of distribution

networks connecting Tier-II towns with regional logistics hubs. There is

scope for organised logistics players like regional transport companies/ third

party logistics (3PL) players to develop these distribution networks

including warehouses, cold chains and truck/ multi-modal services

connecting these locations. Investments are being made in warehouses andhubs by Indian corporates. Outsourced logistics service providers are also

emerging McDonalds working with Radhakrishna Foodland is a case in

point.

Is retail space adequate in India?

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Availability of quality retail space is a critical enabler for the anticipated

rapid growth of modern retailing in India. The preferred form of retail real

estate acquisition is through long term leases in India. Few retailers prefer a

mix of owned and leased real estate space and some own the real estate

space. A majority of the survey respondents felt that the availability of retail

real estate space is adequate in India. However there were some instances

where retailers had to wait a few years before they got a suitable location to

set up their stores. A pressing issue facing retailers today is the cost of real

estate. An overwhelming majority of the respondents felt that the real estate

in India is over priced today.

Development of Tier II cities and sourcing hubs:-

Stocks in the retail sector are also becoming increasingly attractive from an

investor's point of view. Successful development of value based concepts as

well as development of retail space in smaller cities and towns shall drive

the organized retail into the next levels of cities. Retailers have responded to

this phenomenon by introducing contemporary retail formats such as

hypermarkets and supermarkets in the new pockets of growth. Prominent

tier-II' cities and towns which are witnessing a pick-up in activity include

Surat, Lucknow, Dehra Dun, Vijaywada, Bhopal, Indore, Vadodara,

Coimbatore, Nasik, Bhubaneswar, Varanasi and Ludhiana among others.

With consumption in metros already being exploited, manufacturers and

retailers of products such as personal computers, mobile phones,

automobiles, consumer durables, financial services etc are increasingly

targeting consumers in tier II cities and towns. In addition, petro-retailing

efforts of petroleum giants scattered through out the country's landscape

have also ensured that smaller towns are also exposed to modern retailing

formats.

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On the supply side, mall development activity in the small towns is also

picking up at a rapid pace, thereby, creating quality space for retailers to

fulfil their aggressive expansion plans. Thus, the retail boom', 85% of

which has so far been concentrated in the metros is beginning to percolate

down to smaller cities and towns. The contribution of these tier-II cities to

total organized retailing sales is expected to grow to 20-25%.

Favourable demographic and psychographic changes relating to India's

consumer class, international exposure, availability of increasing quality

retail space, wider availability of products and brand communication are

some of the factors that are driving the retail in India. Over the last few

years, many international retailers have entered the Indian market on the

strength of rising affluence levels of the young Indian population along with

the heightened awareness of global brands and international shopping

experiences and the increased availability of retail real estate pace.

Development of India as a sourcing hub shall further make India as an

attractive retail opportunity for the global retailers. Retailers like Wal-Mart,

GAP, Tesco, JC Penney, H&M, Karstadt-Quelle etc stepping up their

sourcing requirements from India and moving from third-party buying

offices to establishing their own wholly owned / wholly managed sourcing

& buying offices shall further make India as an attractive retail opportunity

for the global players.

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Bibliography

1. www.pantaloon.com

2. www.google.com

nimit mathur - 25

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