Retail Store Operations At Reliance Retail Ltd
The project entitled “RETAIL STORE OPERATIONS” carried out, was the result of extensive study of the RELIANCE FRESH store situated in HINOO, Ranchi. My subject of study was analyzing CATCHMENT AREA, FOOTFALL AND CUSTOMER’S AVERAGE TICKET SIZE of the store.
- CATCHMENT AREA
It is defined as the area where the customers are mostly attracted to the store. In my project, the Catchment area included Hinoo, Dhurwa, Doranda, Main Road, Sector, South Office Para, North Office Para, Hatia, etc. The major residential areas involve MECON colony and Satellite Colony.
Football can be described as the no. of people who visit the stores. These may not necessarily be the buyers. Window shoppers are also included in this. The average footfall of Reliance Fresh Store, Hinoo was around 500 to 600 visitors per day.
- TICKET SIZE
Ticket size refers to the billing amount of the customers. It includes what they purchase. This means the revenue of the store.
The scope of the project allows a two-way approach to learning about the functioning of Reliance Fresh outlets. Firstly, it provides an opportunity to know about in and out of the functioning of the retail store which serves both as the frontline of operations and the revenue earner for the organization engaged in the business of organized retailing. The retail store which serves as the point of interaction and transaction between the organization and the customers is the biggest stakeholder in determining the level of success of the business. Operations set that regulate the entire workings of a store thus have a pivotal role. Thus while being engaged in project work in a retailing organization, to develop knowledge about the retail store operations provides a kind of completeness to the task of understanding the trade.
On the other hand factors like counts of footfall, the value of ticket size, etc. are ultimate determiners in the extent of success that the retail organization has achieved. These determinants are in sort litmus tests about the correctness of the strategy and the positioning in order to reach the consumer groups. All the working procedure, as well as the planning, is usually so organized as to ensure the maximum business both in terms of volume and value. The first level facilitator for this purpose achievement is the footfall figures of the stores under observation. By simple logic, it can be deciphered that number of people entering the store means more amount of revenue. The arrival of consumer hordes can be a near to sure indicator of acceptability of the business model of the organization.
But the approach to determine the outcome of a retail business model on footfall alone can unfailingly lead to fallacies. So in order to reinforce the element of surety in the task of analysis a more trustful approach of taking the eye to the ticket size is desirable.
Title – Retail Store Operations At Reliance Retail Ltd
Author – Praveen Sethia