WHY SOME SUPER MARKET CHAIN FAIL: WHY BIG BAZAAR FAILED? THE RISE AND FALL OF A RETAIL GIANT:

Big Bazaar – How Kishore Biyani Built an Undisputable Empire and Yet Failed?

Big Bazaar is one of India’s largest retail stores that sells everything from grocery to electronic on best offers. Big Bazaar retail chain offers various discounts and coupons to its customers almost 365 days a year.

This company has become a common name in every household for its top-notch quality and affordable products. The idea of the business suits perfectly well for the Indian market and attracts millions of customers daily. Let’s get to know the success story of this company.

Fun Fact – Big Bazaar is expected to grow more than 9% for FY 2021-22.

Big Bazaar Story – Key Points:

• Startup Name - Big Bazaar
• Founded - 2001
• Founder - Kishore Biyani
• Headquarters - Mumbai, Maharashtra, India
• Company Type - Private
• Sector - Retail and Customer Service
• Website – www.bigbazaar.com

Big Bazaar Success Story – Brand Name, Logo and Taglines:

• Brand Name - The brand name of Big Bazaar signifies their work. They are the bigger version of any market where you can find all kinds of things under one roof.
• Logo - The logo of Big Bazaar is in classic orange and blue color that attracts a lot of customers.
• Taglines - Big Bazaar has worked on various catchphrases over the year. Some of them are Making India Beautiful, Bazaar of New India, etc.

Big Bazaar Story – Products Sold

Some of the products sold by the company are as follows:

• Food Products
• Eatables
• Grocery
• Kitchen Appliances
• Home and Furniture
• Jewelry
• Electronics
• Toiletries
• Toys and Stationery
• Clothing and Footwear

Big Bazaar – Business Model

• Big Bazaar is one of the largest retail stores in India, as they sell almost everything on a single platform. Their USP is that they offer amazing discounts and vouchers to their customers. It attracts a lot of customers to choose
• Big Bazaar over any other retail store. The company runs on the motive of earning good turnover by keeping the margin low. They always have some offer going on in the stores and, it works well for the company.

Big Bazaar – Competitors

Big Bazaar is a leading owner in its sector. But it also has a lot of rivals in the market. Some of the strongest competitors of the company are as follows:

• Big Basket - It got founded in 2011. They also deal in non-vegetarian items such as fish, meat, seafood, eggs, etc.
• DMart - It got incorporated in 2000 and, it works just like Bg Bazaar.
• Grofers - It got incorporated in 2014 and, it is considered one of the biggest rivals of Big Bazaar.

Why did Big Bazaar fail?

Why did Big Bazaar fail?

Since its launch in 2001, Mr. Biyani has started the first store in Kolkata India. When Mr. Biyani started the big bazaar people started comparing him with Sam Bolton of Walmart. By 2020 future retail which is the parent company of big bazaar has opened more than fifteen hundred stores all

Why Big Bazaar failed?

#. Competition??- Increased competition from other retail stores and e-commerce websites

#. Lack of Innovation??- Failure to keep up with changing market trends and customer preferences

#. Poor Management???- Inefficient management practices and decision-making

#. Pricing Strategy - Incorrect pricing strategies and failure to offer competitive prices

#. Lack of Differentiation? - Failing to offer unique and differentiated products or services

#. Poor customer service - Bad customer service is when a customer feels their expectations were not met. Top indicators of poor customer service include long wait times, an automated system that makes it hard to reach a human agent, and having to repeat information multiple times.

What is the downfall of big bazaar?

In short, Big Bazaar's downfall was a result of rapid expansion, high debt, and operational inefficiencies. In contrast, DMart's success can be attributed to its conservative growth strategy, focus on cost efficiency and robust supply chain management.

What is the debt of Biyani?

Last month it was reported that Biyani made an offer of Rs 476 crore as a one-time settlement of Rs 571-crore debt of Bansi Mall Management that owns SOBO Central Mall in Mumbai's Haji Ali to a group of lenders led by Canara Bank.