EXECUTIVE SUMMARY

In present day world no business is spared from competition. Same applies to Bangalore Central. Customer is of prime importance and no business can undermine its customers. Customer satisfaction is vital for its long term sustenance and profitable business. Every company strives hard for attaining maximum customer satisfaction. Customer satisfaction is directly related to customer experience. Therefore companies indulge in customer experience management activities in order to increase customer satisfaction levels. Bangalore Central was launched in Bangalore on May 2004 owned by Pantaloons Retail India Ltd that also owns the Indian Big Bazaar supermarket chain. Central is a showcase, seamless mall and the first of its kind in India. The thought behind this pioneering concept was to give customers an unobstructed and a pure shopping experience and to ensure that, the best brands are available to Indian customers. The statement of the problem in the project is mainly undertaken to study overall customer satisfaction towards Bangalore Central One located at Residency Road and to identify the factors that influence customer experience, better management of these factors will lead to improved customer satisfaction levels. Among the major objectives of companies is the objective of profit and market share. Profit gives meaning to daily functioning of business and can be realized through increased sales value and reduction in costs involved in running business. Market share is the index of long term survival of business. To attain both of these objectives customer satisfaction plays pivotal role. Therefore companies strive hard to improve their customer satisfaction and take keen interest in identifying and managing the factors influencing customer satisfaction. Scope of the study involves all areas related to customer experience starting from the entry of the customer till the exit of customer from the mall. The movement of truth what customer actually goes through shapes the customer experience.

INDUSTRY PROFILE

Retailing involves all activities directly related to the sale of goods and services to the ultimate consumer for personal, non-business use. Retailing is maturing into a more microscopic and systematized process. Retail is accounting for over 10 percent of the Indias GDP and around 8 percent of the employment. That means retailing sector is the second largest employer in the country. There are almost over 12 million retail outlets in India and only 4% of them being larger than 500 square feet in size.

GROWTH AND DEVELOPMENT OF RETAIL INDUSTRY: Although retailing in India is fairly fragmented, organized retailing is gaining momentum rapidly growing at almost 25% to 30% per annum and was forecasted to touch a figure of INR 1,50,000 crore by the end of 2010. It has emerged as one of the most dynamic and fast paced industries with several players entering the market. Retail industry in India is at the crossroads. Over the last three years, this sector has witnessed an exorbitant growth due to the establishment of numerous international quality formats to suit the Indian purchase behavior. The improvement in retail processes, the development of retail specific properties and the emergence of both, domestic and international organizations.

EVOLUTION OF RETAIL INDUSTRY IN INDIA: The era of rural retail industry could be categorized into two formats: weakly markets and village fairs. Primarily weekly formats catered to the daily necessities of villagers. Village fairs were larger in size with a wide variety of goods sold from food,clothing, cosmetics and small durables. The traditional era saw the emergence of the neighborhood Kirana store to cater to convenience of the Indian consumers. The era of government support saw indigenous franchise model of store chains run by Khadi and village Industries Commission. The KVIC has a country wide chain of 7000 plus stores in India. This period also witnessed the emergence of shopping centers with car parking facility. The Modern era has a host of small and large formats with exclusive outlets showcasing a complete range of products. The department stores and shopping malls targeting to provide a complete destination experience for all segments of the society. The hyper and super markets are consistently trying t

Provide the customer with the 3Vs. (Value, Variety and Volume)

DIFFERENT TYPES OF ORGANIZED FORMATS: Organized retailers are the contemporary formats by which shoppers have the edge of a world class shopping experience. Fine examples of these formats are Pantaloon, Shoppers Stop and Trent. Organized retail may broadly be classified into following formats: MALLS: The largest form of organized retailing today. Malls are located mainly in metro cities, in proximity to urban outskirts; this format ranges from approximately 60,000 sqft to 70,0,000 sqft and above. They lend an ideal sopping experience with amalgamation of products, service and entertainment, all under a common roof. HYPERMARKETS: They are typically large, starting from 40,000 sqft plus are usually located outside the city limits. This format comprises of multiple divisions layout, and usually has an industrial look interior. Hypermarkets generally provide daily necessities and grocery like items. Pricing is competitive and they also offer volume discounts. SUPER MARKETS: large self service outlets, catering to varied shopper needs are termed as super markets. These are located in or near residential high streets. These stores today contribute to 30% of all food and grocery organized retail sales. Super markets can be further be classified in to mini supermarkets typically 1,000 sq.ft to 2,000 sq.ft and large supermarkets ranging from a size of 3,500 sq.ft to 5,000 sq.ft having a strong focus on food and grocery and personal sales. DISCOUNT STORES: As the name suggests, discount stores or factory outlets, offer discounts on the MRP through selling in bulk reaching economies of scale or excess stock left over at the season. The product category can range from a variety of perishable/non perishable goods. CONVENIENCE STORES: These are relatively small stores 400-2000 sqft located near residential areas. They stock a limited range of high turnover convenience products and are usually open for extended periods during the day, seven days a week. Prices are slightly higher due to the convenience premium. DEPARTMENTAL STORE: Large stores ranging from 20000-50000 sqft, catering to a variety of consumer needs further classified into localized departments such as clothing, toys, home, groceries etc. SPECIALTY STORES: These formats focus on a specific product category, medium sized layout in strategic location. Specialty stores provide a large variety base for the consumers to choose from.

FUTURE PROSPECTS: Despite the presence of the basic ingredients required for the growth of the retail Industry in India, it still faces substantial hurdles that will retard and inhibit its growth in future. One of the key impediments is the lack of FDI. This has largely resulted in limited capital investments in supply chain infrastructure, which is a key for development and growth of retailing and has also constrained access to world class retail practices. Lack of proper infrastructure and relatively high cost of real estate are the other impediments to the growth of retailing. While the industry and the government are trying to remove many of these hurdles, some of the roadblocks will remain and will continue to affect the smooth growth of this industry.

COMPANY PROFILE :

Pantaloon Retail (India) Limited is a flagship subsidiary of future group. Pantaloon Retail (India) Ltd is a retailer that operates multiple retail formats in both the value and lifestyle segment of the Indian consumer market. The Company operates over 16 million square feet of retail space, has over 1000 stores across 73 cities in India. Its formats include Pantaloons, which is a chain of fashion outlets; Big Bazaar, which is an Indian hypermarket chain; Food Bazaar, which is a supermarket chain, and Central, which is a chain of destination malls. Some of its other formats include Brand Factory, Blue Sky, aLL, Top 10 and Star and Sitara. The Company also operates an online portal, futurebazaar.com. During the fiscal year ended June 30, 2010 (fiscal 2010), the Company launched Sach toothpaste and Ektaa. During fiscal 2010, its operational store space increased to 13.25 million square feet, which includes around two million square feet of home business. During fiscal 2010, the Company acquired the South African retailer Shoprite's India business.

Future Group

RETAIL

INSURANCE

LEARNING AND DEVELOPMENT

MEDIA

SUPPLY CHAIN SOLUTIONS

KNOWLEDGE SERVICES

LEISURE & ENTERTAI NMENT

Shop ping malls

ETailing

Vent ures

Value

Life style

Home

Capitalhol ding

PANTALOONS AND CENTRAL

FUTURE GROUP LINES OF BUSINESS BACKGROUND AND INCEPTION

Company was incorporated as Manz Wear Private Limited with the Launch of Pantaloons trouser, Indias first formal trouser brand IN 1987. In May 1992 Company went public. PREFACE Pantaloon Retail (India) Limited, is Indias leading retailer that operates multiple retail formats in both the value and lifestyle segment of the Indian consumer marker. Headquartered in Mumbai (Bombay), the company operates over 5 million square feet of retail space, has over 450 stores across 40 cities in India and employs over 18,000 people. The companys leading formats include Pantaloons, a chain of fashion outlets, Big Bazaar, a uniquely Indian hypermarket chain, Food Bazaar, a supermarket chain, blends the look, touch and feel of Indianbazaars with aspects of modern retail like choice, convenience and quality and Central, a chain of seamless destination malls. Some of its other formats include, Depot, Shoe Factory, Brand Factory, Blue Sky, Fashion Station, all, Top 10, mobile Bazaar and Star and Sitara. The company also operates an online portal, futurebazaar.com. A subsidiary company, Home Solutions Retail (India) Limited, operates Home Town, a large-format home solutions store, Collection i.e. selling home furniture products and E-Zone focused on catering to the consumer electronics segment. Pantaloon Retail was recently awarded the International Retailer of the Year 2007 by the USbased National Retail Federation (NRF) and the Emerging Market Retailer of the Year 2007 at the World Retail Congress held in Barcelona. Pantaloon Retail is the flagship company of Future Group, a business group catering to the entire Indian consumption space.

Group Vision Future Group shall deliver Everything, Everywhere, Every time for Every Indian Consumer in the most profitable manner.

Group Mission We share the vision and belief that our customers and stakeholders shall be served only by creating and executing future scenarios in the consumption space leading to economic development.

We will be the trendsetters in evolving delivery formats, creating retail realty, making consumption affordable for all customer segments for classes and for masses. We shall infuse Indian brands with confidence and renewed ambition. We shall be efficient, cost- conscious and committed to quality in whatever we do. We shall ensure that our positive attitude, sincerity, humility and united determination shall be the driving force to make us successful.

Core Values

Induces: confidence in ourselves. Leadership: to be a leader, both in thought and business. Respect & Humility: to respect every individual and be humble in our conduct. Introspection: leading to purposeful thinking. Openness: to be open and receptive to new ideas, knowledge and information. Valuing and Nurturing Relationships: to build long term relationships. Simplicity & Positively: Simplicity and positivity in our thought, business and action. Adaptability: to be flexible and adaptable, to meet challenges. Flow: to respect and understand the universal laws of nature.

Board of directors Mr. Kishore Biyani, Managing Director Mr. Gopikishan Biyani, Wholetime Director Mr. Rakesh Biyani, Wholetime Director Mr. VedPrakashArya, Director Mr. Shailesh Haribhakti, Independent Director Mr. S Doreswamy, Independent Director Dr. D O Koshy, Independent Director Ms. Anju Poddar, Independent Director

Ms. Bala Deshpande, Independent Director Mr. Anil Harish, Independent Director

Partner Companies

Home Solutions Retail (India) Ltd. Home Solutions Retail (India) Ltd. (HSRIL)leads the groups foray in the home improvement and consumer electronics retailing segment. It caters to home management requirements and products, including furnishings and textiles, furniture, consumer electronics, home electronics and home services. It operates retail formats like Home Town, Furniture Bazaar, Collection I, E-Zone, Electronics Bazaar and Got It. Future Capital Holdings Future Capital is the financial arm of the group and is involved in asset management (both private equity and real estate funds) with plans to get into other financial services including insurance, credit and other consumer related financial services. Its associate companies are Kshitij Investment Advisory Co. Ltd., In division Investment Advisers Ltd., and Ambit Investment Advisory Co. Ltd. Future Media India Ltd. Future Media India Ltd. is a part of the Future Group, aimed at creation of media properties in the ambience of consumption and thus offer active engagement to brands and consumers.

Indus League Clothing Ltd. The group owns a majority stake in Indus League Clothing Ltd., one of the leading apparel manufacturers and marketers in India. Some of its leading brands include Indigo Nation, Scullers, Urbana, Urban Yoga and Jealous 21. FutureBazaar India Ltd. FutureBazaar India Ltd. is a subsidiary of Pantaloon Retail (India) Limited. It owns and operates the online shopping portal futurebazaar.com

Galaxy Entertainment Corporate Ltd. The group owns a stake in Galaxy Entertainment Corporate Ltd. that operates chains like Bowling Company, Sports Bar and Brew Bar.

Joint Ventures Companies

CapitaLand Retail India The group is a joint venture partner in CapitaLand Retail India, along with Singapore-based CapitaLand Limited. The company provides retail management services to retail properties owned or managed by various group companies and investment funds. Footmart Retail Footmart Retail is a joint venture with Liberty Shoes and is engaged in the retailing of footwear products in India. Planet Retail Holdings Ltd. The group is a joint venture partner in Planet Retail Holdings Ltd., which operates sports, lifestyle and leisure retail chain. It also owns the franchisee and distribution rights of brands like Marks & Spencer, Guess, Debenhams and Puma in India.

Big Bazaar Big Bazaar is not just another hypermarket. It caters to every need of a family. Where Big Bazaar scores over other stores is its value for money proposition for the Indian customers. At Big Bazaar, a person will definitely get the best products at the best prices - thats what we guarantee. With the ever increasing array of private labels, it has opened the doors into the world of fashion and general merchandise including home furnishings, utensils, crockery, cutlery, sports goods and much more at prices that will surprise anyone. And this is just the beginning. Big Bazaar plans to add much more to complete your shopping experience. Central Brand has malls all over India. It is owned by Pantaloon Retail that also owns the Indian Big bazaar supermarket chain. Central has outlets in Ahmedabad, Bangalore, Hyderabad, Pune, Mumbai, Vadodara, Gurgaon, and Indore. It has a food chain with 3 Amigos, Slambay, and Baskin Robbins among many others and has three main restaurants like Bombay Blues and Copper Chimney.

Launched in May 2004 at Bangalore, Central is a showcase, seamless mall and the first of its kind in India. The thought behind this pioneering concept was to give customers an unobstructed and a pure shopping experience and to ensure the best brands in the Indian market are made available to the discerning Indian customer. Central offers everything for the urban shopper, to shop, eat and celebrate. Located in the heart of the city, Central believes its customers should not have to travel long distances to reach us; instead we must be present where customers frequently visit. In a short span of its existence Central has revolutionized and redefined the shopping experience in India.

Food Bazaar

AbGharChalaanaKitnaAasaan Food Bazaar invites everyone for a shopping experience, unique by its ambience. At Food Bazaar a person will find a hitherto unseen blend of a typical Indian Bazaar and International supermarket atmosphere. Flagged off in April02, Food Bazaar is a chain of large supermarkets with a difference, where the best of Western and Indian values have been put together to ensure customer satisfaction and comfort while shopping. The western values of convenience, cleanliness and hygiene are offered through pre packed commodities and the Indian values of See-Touch-Feel are offered through the bazaar-like atmosphere created by displaying staples out in the open, all at very economical and affordable prices without any compromise on quality. The best of everything offered with a seal of freshness and purity will definitely make your final buying decision a lot easier.

Tulsi-The Medicine Bazaar Tulsi the Medicine Bazaar is a pharmacy housed within Big Bazaars and Food Bazaars at over 35 locations all over India allowing customers to enjoy the convenience of having your wellness needs fulfilled while anyone shops. We aim to offer outstanding professional service from a caring and friendly environment. We are prepared to go the extra mile or provide that little extra guidance and to care for your needs through our Healthcare enquiry system.

At Tulsi, ,knowledgeable pharmacists will be ready for service 7 days a week to fill customers prescriptions, answer customers questions, and help them in any way that they can. All pharmacists are qualified and registered in their respective state pharmacy councils. Specialty products and other services

Diabetes care prescription medicines, alternative medicines, glucometers and test strips, sweeteners, food products for diabetics Home diagnostic equipment BP monitors, weighing scales, thermometers, test kits Health food protein supplements, minerals and vitamins Orthopedic Supports Over the counter medication Alternative medicine Ayurveda and Homeopathy Dental care Health camps Specialty Skin Care Tulsi the Medicine Bazaar, in association with HELP library offers free medical advice. Customers may post any health related queries to us for our advice and we will be glad to help the customers.

Navaras Jewellery for all emotions and occasions Navaras, a fine 22 carat pure gold and diamond jewellery brand, retailed from Big Bazaar stores, offers nine unique rational benefits to the consumer namely BIS Hallmark jewellery, free cleaning and polishing, insurance cover against theft and burglary, transparent making charges, a buyback if unsatisfied, 0% weight loss if jewellery is exchanged, diamond certification, free karatmeter check and a range of designs. The Navaras product range and store look is in keeping with the needs of contemporary women. It is emotions and occasions that lead women to buy jewellery; they buy jewellery to express emotions like pyaar (love), during occasions like tyohaar (festivals) and as uphaar (gifts). Navarasjewellery has been conceptualized with this thought jewellery for all emotions and occasions.

Future Group has revolutionized the Indianjewellery market with the launch of Navaras, which offers branded, pure and design differentiated jewellery at competitive prices in a hypermarket set-up in line with the evolving buying behavior of consumers. The rationale behind this is that with higher disposable incomes, for consumers today gold and other jewellery purchases too have become impulsive buying activities. But, certain criteria still remain constant like carat, price, trust and purity all strong deciding factors while purchasing jewellery. Thus, the formats brand positioning and offerings have been tailored to suit the modern day consumer. Navaras offers a complete fine jewellery shopping experience, despite being within the confines of a hypermarket. This is ensured by the segregation of the Navaras section via glazed glass walls to provide a comfortable and secluded ambience. The sit-down arrangement, as opposed to stand-alone counters, further ensures that shoppers try out the Navaras products in a peaceful and comfortable environment before they make their final shopping decision.

F 123 An entertainment zone, F 123 is a leisure solution for all age groups. F 123 offers a wide range of gaming options ranging from bowling and pool to redemption and interactive video games to bumper cars besides fun foods and services for junior and adult banqueting. F 123 aims to put an end to the value seekers quest for leisure and entertainment. The sheer number of entertainment options offered at F 123, will make anyone keep coming back for more. Its 1st venture located on the buzzing M.G. road, Indore in the prestigious Treasure Island Mall is touted as the 1st of its kind in Central India. Following the success of this first venture, F123 will soon make its presence felt in other major cities.

Star &Sitaraa

Salon & Beauty Parlour Star &Sitaraa, a unique beauty salon for men and women, introduces many new features and products for the first time in India. At Star &Sitaraaa we aim to 13emocratize salon services for easy access to all and deliver quality service at very affordable prices

Star & Sitaraaa, evokes a theme of Bollywood and promises to make the customers a Star (Sitara in Hindi)! Glamour as a theme is an essential ingredient in the world of cinema and we do not disappoint you on that note. The space, dcor, lighting is reminiscent of movies and will transport you from the ordinary world to that of the reel world. Star & Sitaraaa provides all skin and hair related beauty service. The salon is spacious and the atmosphere relaxed. Men, women and children can easily find a service to cater to their need. But the focal and niche element of our salon is the affordable and attractive pricing. Customers will be wowed by the high quality hair and skin services at unbelievable prices. The haircuts are priced at Rs.39, hair wash at Rs.39 and hair streaking starts from Rs.49, gold facial for Rs.499 and Diamond facial for Rs.999 only.For the first time in the country, a Wax Bar with different flavored waxes that promises a painless wax for women is being introduced. The salon uses oil-based wax instead of sugar based to make the experience better than what it is traditionally done. The wax bar also provides for flavors to choose from like chocolate, almond, green apple, strawberry. This makes sure that customers smell good and look forward to the otherwise painful wax sessions. We also pride ourselves on our expertise in consultation on being able to find the perfect style to suit customers and their lifestyle. Whether they are a dedicated follower of fashion, fancy a change of style or simply want to enhance your current style we help in getting you there. We boast of a team of talented stylists and skin specialists. These beauty consultants also individualize each treatment keeping in mind that every individual is different. CHAMOSA Chamosa is a pan-Indian chain of snack counters that serves varieties of chai (tea) and samosas, clubbed with sandwiches. Chamosa offers A taste of India with the traditional Indian snack of chai and samosa served hot-and-fresh in a hygienic environment. The menu boasts of innovative offerings that is sure to leave you, asking for more.

Futurebazaar.com Futurebazaar.com offers the widest range of products at lowest prices everyday! Having pioneered the retailing business in India, PRIL has now decided to revolutionize the consumer e-commerce business in India. It intends to provide customers with a streamlined, efficient and world class personalized shopping experience, which will be supported with the best technology platform. Buying products is a 3 step simple process. All one has to do is Search, Register and Buy. Here you can expect a shopping experience akin to shopping at an actual bazaar but with

added simplicity & everyday low prices and an assurance of your product will be delivered within 7 days of purchase. Pantaloon Retail India ltd format categories:

1. VALUE: BIG BAZAAR, FOOD BAZAAR 2. LIFE STYLE: CENTRAL AND PANTALOONS 3. HOME: HOME TOWN AND EZONE

CENTRAL PRODUCT CATEGORY LIST APPARELS

NON APPARELS CUT INS & SIS

MENS

SPORTS WEAR

E-ZONE

HAND BAGS LADIES MOBILE KIDS WELLNESS YOUTH

FOOD BAZAAR

HOME BAZAAR

EYE WEAR

SIS

WATCHES

MENS ACCESSORIES

FOOTWEAR

LINGERIE

JEWELLERY

TOYS AND NF

AWARDS & RECOGNITIONS

CNBC Awaaz Consumer Awards 2009 01. Most Preferred Multi Product Chain - Big Bazaar 02. Most Preferred Multi Brand Food & Beverage Chain - Big Bazaar 03. Images Fashion Forum 2009 04. Most Admired Fashion Group of the Year - Future Group 05. Most Admired Private Label - Pantaloons, the lifestyle format 06. Critics Choice for Pioneering Effort In Retail Concept Creation - Central 07. Coca-Cola Golden Spoon Awards 2009 08. Most Admired Food & Grocery Retailer of the Year 09. Most Admired Food Court 10. Most Admired Food Professional

j. work Flow Model(End to End)

EVENTS

PROMOTIONS

ADVERTISEMENT

LOYALTY PROGRAMME

MARKETING
Consumer Demographics

LOCATION 1

STORES

BUYING AND MERCHANDISING

Design Development

DISTIBUTION AND LOGISTICS

LOCATION 2 VENDORS HUMAN RESOURCE

STORES

STORE PALNNING

Range Planning

LOCATION 3

STORES

Range Develop/ Execute

LOCATION 4

STORES

Purchase Order to Vendors

CORPORATE

FINANCE

LEGAL

HUMAN RESOURCE

j. Future Growth and Prospects:Rising consumption, reflected in higher same store sales, focus on core retail operations and attractive valuations should help the stock deliver 30 per cent over 18 months, say analysts. While Pantaloon Retail's stock delivered negative returns in 2010 (down 13.6 per cent) as compared to the Sensex's 17 per cent, this trend should change soon for the better. Analysts believe the current restructuring exercise to focus on retail, streamlining of operations and strong growth should help the stock generate about 30 per cent returns over the next 18 months. India's largest listed retailer, Pantaloon, is expected to record a sales growth of 20-25 per cent over the next two years on the back of aggressive expansion as well as a robust same store sales growth. The company is also planning to team up with Carrefour; the world's second largest retailer after Wal-Mart, to set up the latter's branded stores in India. The tie-up would assume importance when foreign direct investment (FDI) in multi brand retail is allowed as it will give the company an opportunity to divest a part of its stake in the retail business in favor of a foreign player. The company which currently operates about 16 million square feet of space is expected to add about 1.5 million to 2 million square feet of retailing space annually over the next two years. On the back of capacity addition as well as strong same store sales growth across formats (value, lifestyle and home), the company expects to grow its sales by 25-30 per cent in 2010-11. Good growth, especially in the lifestyle brands which have Ebitda margins of 1213 per cent as compared to value brands which command half of that, higher private label (own brands) sales as well as benefits of scale should keep margins stable going ahead even as the company invests in expanding its reach. Further, its plans to improve inventory turnover (inventory forms 60 per cent of its current assets) will lead to lower working capital requirements and dependence on debt to fund operations. Part of this inventory reduction (inventory outstanding days are expected to be reduced by 30 per cent over the next 2-3 years, says an Antique Stock Broking report) is likely to come from the company's increased focus on food items. The sales cycle for these products, which are expected to contribute to 50 per cent of the sales over the next five years compared to 35 per cent currently, is shorter. Future & Growth of Indian retail:The BMI India Retail Report for the first-quarter of 2011 forecasts that total retail sales will grow from US$ 392.63 billion in 2011 to US$ 674.37 billion by 2014. Strong underlying economic growth, population expansion, the increasing wealth of individuals and the rapid construction of organized retail infrastructure are key factors behind the forecast growth. With the expanding middle and upper class consumer base, there will also be opportunities in India's tier II and III cities. Mass grocery retail (MGR) sales in India are expected to undergo enormous growth over the forecast period. BMI predicts that sales through MGR outlets will increase by 145 per cent to reach US$ 21.35 billion by 2014. BMI forecasts consumer electronic sales at US$ 29.09 billion in 2011, with over-the-counter (OTC) pharmaceutical sales at US$ 2.69 billion. The former sub-sector is expected to show

growth of 55.6 per cent between 2011 and 2014, reaching US$ 45.27 billion, with projected double-digit growth of key products such as notebooks, mobile handsets and TVs. OTC pharmaceuticals, meanwhile, should increase slightly more, by 56.5 per cent throughout the forecast period, to reach US$ 4.21 billion. China and India are predicted to account for more than 91 per cent of regional retail sales in 2011, and by 2014 their share of the regional market is expected to be more than 92 per cent. Growth in regional retail sales for 2011-2014 is forecast by BMI at 48.1 per cent, an annual average 15 per cent. According to a McKinsey & Company report titled 'The Great Indian Bazaar: Organized Retail Comes of Age in India', organized retail in India is expected to increase from 5 per cent of the total market in 2008 to 14 - 18 per cent of the total retail market and reach US$ 450 billion by 2015. Furthermore, according to a report titled 'India Organized Retail Market 2010', published by Knight Frank India in May 2010 during 2010-12, around 55 million square feet (sqft) of retail space will be ready in Mumbai, national capital region (NCR), Bangalore, Kolkata, Chennai, Hyderabad and Pune. Besides, between 2010 and 2012, the organized retail real estate stock will grow from the existing 41 million sqft to 95 million sq ft. Driven by the growth of organized retail coupled with changing consumer habits, food retail sector in India is set to be more than double to US$ 150 billion by 2025, according to a report by KPMG. India's retail market is expected to be worth about US$ 410 billion, with 5 per cent of sales through organized retail, meaning that the opportunity in India remains immense. Retail should continue to grow rapidlyup to US$ 535 billion in 2013, with 10 per cent coming from organized retail, reflecting a fast-growing middle class, demanding higher quality shopping environments and stronger brands, according to the report Expanding Opportunities for Global Retailers

MCKINSEY 7S MODEL

The Seven Elements The McKinsey 7S model involves seven interdependent factors which are categorized as either "hard" or "soft" elements: Hard Elements Strategy Structure Systems Soft Elements Shared Values Skills Style Staff

"Hard" elements are easier to define or identify and management can directly influence them: These are strategy statements; organization charts and reporting lines; and formal processes and IT systems. "Soft" elements, on the other hand, can be more difficult to describe, and are less tangible and more influenced by culture. However, these soft elements are as important as the hard elements if the organization is going to be successful. The way the model is presented in Figure 1 below depicts the interdependency of the elements and indicates how a change in one affects all the others.

MCKINSEY 7S MODEL

Strategy: the plan devised to maintain and build competitive advantage over the competition.

Structure: the way the organization is structured and who reports to whom. In pantaloons the organizational structure is centralized.

Systems: the daily activities and procedures that staff members engage in to get the job done. In central retailing forms the core of the daily activities and procedures.

Shared Values: called "superordinate goals" when the model was first developed, these are the core values of the company that are evidenced in the corporate culture and the general work ethic. Future group shared values are flow, leadership, , introspection, Indianness, valuing and nurturing relationships, simplicity and positivity, adaptability, openness, respect and humility

Style: the style of leadership adopted is democratic.

Staff: the employees and their general capabilities.

Skills: the actual skills and competencies of the employees working for the company. Placing Shared Values in the middle of the model emphasizes that these values are central to the development of all the other critical elements. The company's structure, strategy, systems, style, staff and skills all stem from why the organization was originally created, and what it stands for. The original vision of the company was formed from the values of the creators. As the values change, so do all the other elements.

SWOT ANALYSIS OF BANGALORE CENTRAL ONE

STRENGTH
Availability of large variety of products. Concept of Shop, Eat and Celebrate gives a wholesome appeal to the mall. In apparel many variety of brands are available (Brands). Regular in store promotions and offers. Ambience includes Music , Aroma, well lit layout which enhances customer satisfaction

WEAKNESS
Lack of customer knowledge about the variety of services offered at themall. Insufficient parking space. Lack of loyalty programs(Customerretention programs are not offered). Incomplete utilization of the mall space.

OPPORTUNITIES
Large demography of middle income segment in India Boom of retail segment in India. India is rated the fifth most attractive emerging goldmine. Rural markets emerging as a retail market: a potential

THREATS
The tax structure in India favors small retail business. High cost of real estate. Dissimilarity in consumer groups. Shortage of trained manpower. Large number of competitors in terms of both organized and unorganized sector. Upcoming competitors like Wal-mart and Target offering products at Every day low price (EDLP)

hugeopportunity for retailers reflected in the share of the rural market across most categories of consumption Multiple drivers leading to a consumption boom: Favorable demographics Growth in income Increasing women population of