INTRODUCTION

Led by its flagship enterprise, Pantaloon Retail, the group operates over 12 million square feet of retail space in over 71 cities and towns and 65 rural locations across India. The group owns several leading formats including Pantaloons, Big Bazaar, Food Bazaar, Home Town, eZone and Central. Pantaloons is among India's largest chains of fashion stores. Pantaloons Fresh Fashion, with its focus on 'fresh look, feel and attitude' offers, trendy and hip collections that are in sync with the hopes and aspirations of discerning young and 'young-at-heart' consumers. Pantaloons Fresh Fashion stands out as a fashion trendsetter, on the lines of how fashion is followed internationally. This 'fresh fashion' destination allows customers to shop for the latest in fashion apparel and accessories throughout the year in an attractive and visually stimulating ambience. Pantaloons Fresh Fashion stores have presence with stores not just in Metros but also in smaller towns. All stores have a wide variety of categories like casual wear, ethnic wear, formalwear, party wear and sportswear for Men, Women and Kids.

Organized retail in India is a bit like India itself. Young, optimistic, networked, upwardly mobile and growing Its been the coming of age ... of retail in India of India Itself. Young Ideas, Young Markets, Young Approach, Young Minds, a Movement Youth Inc. Its time to change, innovate and connect with this India. As an Organization, as a Business, as an Approach. As the way forward. We are young, ambitious and passionate, constantly innovating and experimenting. Exploring new avenues, creating new systems. Youth The mantra for business this year.

Pantaloons Retail India Limited : The Financials

PRIL Market Share

3% 10%

2% 2% 7%

Sales Turnover Cr.

Pantaloons Retail Shoppers' Stop Tata Trent 53% Kewal Kiran Provogue Cantabil Retail Koutons Retail

23%

Name Pantaloon Ret Shoppers Stop Trent Kewal Kiran Brandhouse REI Six Ten Cantabil Retail Koutons Retail

Last Price 156.10 351.10 1,054.20 615.00 13.05 3.75 19.75 7.25

Market Cap. (Rs. cr.) 3,615.00 2,907.77 2,894.16 757.99 69.95 55.16 32.25 22.15

Sales Turnover 4,477.48 1,930.04 821.79 301.90 783.48 614.05 164.54 164.65

Net Profit 285.03 64.26 47.27 52.14 8.50 0.32 -25.47 -193.81

Total Assets 5,051.25 877.57 1,594.18 240.43 322.85 148.95 192.69 1,010.52

S T R E N G T S

- Multiple formats to achieve maximum consumer's wallet share - Focused on fashion -Private labels margin drivers

-Inventory is a critical issue - Consumer spending pattern -Consumer loyalty

W E A K N E S S

O P P O R T U N I T Y

-Industry is booming -Rural retailing

-Competition is increasing -Risk of new formats

T H R E A T

PRODUCT OFFERINGS CHART

Plantoon Brands

.
Non Plantoon Brands

Mens

Womens

Mens

Womens

Formals

Casuals

Ethnic

Formals

Casuals

Formals

Casuals

Formals

Casuals

Ethnic

Lombard Knighthood

Aakriti RIG F Factor UMM Agile Bare T2006 JM Sports Lee Copper

Annabelle

Honey Agile

Pepe John Miller Urbaba Scullers Indigo Nation

Scullers

Jealous21 Bare RIG UMM Lee Copper

Rang Manch Trisha Mix & Match Aakriti

Retail Format observed at Pataloons

Customer Service Store Design &

Display
Retail Strategy

Merchandise Assortment

Pricing

Location

Communic ation Mix

The location of a retail store occupies an important place in retail strategy. It not only conveys the image of the store, but also influences the merchandise mix and the interior layout of the store. While the merchandise mix can be changed and prices can be adjusted, it is difficult to change the decision on store location.

Store location

10

It is located in posh locality in the centre of the city. Further the easy availability of transport facilitates makes the location really accessible for shopping.
Pantaloons is situated very close to the main road. Pantaloons being a three floor building have great visibility. To enhance the visibility pantaloons has put its sign board on the top of the building.

MERCHANDISE ASSORTMENT

11

Pantaloons have applied the concept of category management in its day-to-day merchandising function as against the traditional brand management merchandising practice followed by most retailers. Category managers look at sales and margins of each brand in a category. The whole idea of category management is to create products across length and breadth of a category at different price points, fabrics, design, shape, seasons, colour and size.

Pantaloons follows a free form store layout. No particular format is followed anything is placed anywhere but strategically. Pantaloons fall under following categories- Departmental stores, Malls, E-retailers Here when it comes to arranging the clothes, same type of clothes are put up together in different sizes so that same clothes are available for every size at one point only.

STORE LAYOUT

12

STORE DESIGN

13

Exterior Store Design

The exterior appearance of a store silently announces what customers can expect inside. Good exterior visual merchandising attracts attention, creates interest and invites the customer into the business.

Design Display
DENIM promotion - This promotion was pitched as denim reunion by the marketing team created a story around denim treating it as a sinful dessert no one can resist. Bold and out of the box displays definitely caught attention and doubled the sales during the promotion,

Men's Formal Wear Promotion - The objective was to make Pantaloons a destination for Men's formals. Bold displays showcasing only men in formalwear in their different moods and activities get the attention. Icons are used to symbolise the different lifestyle habits of the urban men today

PRICING

17

High turnover

Low Margin

High Margin

Low turnover Since Pantaloons provides products to a potentially large number of customers at affordable prices, it falls in the High Turnover - Low Margin Category.

Merchandise Display : A light to dark color story is always followed The store usually also follows a color theme. For example if the color theme is pink then the garments at the focal points, on the clusters etc. will be within the pink palette. Smaller, quick pick up products such as Hairbrushes, clips, toys etc are kept near the billing counter.

Visual Merchandising

Merchandise is also displayed on the mannequins (either stand alone or clusters) by mixing clothes and accessories of different brands to put together a complete look. There are A4 sized shelf talkers that tell the customer which product is from which brand.

Window Display :

The windows in each store are segregated and have different themes for display. One of the windows is dedicated to Fashion Friday. Fashion Friday is a concept by Pantaloons since they believe in fresh fashion and say that they bring something new to the customers every week.

The display always follows a color theme. The maximum time for which a display may be put up is a month though usually they try and change it every fortnight. Point of Sale Promotions and Signage: Various schemes are promoted in the store through announcements Other promotional materials such as those with the brand ambassadors etc are given to various stores by the head office. Shopping Bags: The bags are green in color with the brand name and the customary leaf design.

Space Allocation and Utilization

Furniture and fixtures---The fixtures were designed to meet capacity and storage criterion from operation's view point and also aid customers' in easy browsing. Fixtures also served to build brand identity and brand differentiation.

Pantaloons visual merchandising is creative, innovative and outstanding which can be seen from its own inhouse private brands such as John Miller. All the merchandise is placed at both 360 degree and 180 degrees.

Window display is highly interactive for impulsive buyer.

The Pantaloons store at Mega Mall , Mumbai was abuzz with excitement, as 'Live Mannequins, models wearing the recently launched 'Pantaloons Femina Miss India 2009 Collection', walked around the store and posed in the window display area. Live mannequins is a unique new concept in store merchandise display, Pantaloons being one of the first stores to introduce it. Visual merchandising is gaining moment all over India ,but it is still in early stages in kolkata

Objectives

visual merchandising, a common external factor that encourages consumers urge to buy, can affect consumers impulse buying decisions. Based on research findings, the purpose of this research is to examine the relationship between impulse buying behaviors and common external factors that trigger impulse buying. External factors that the research will exam are attributes likely to be encountered in many retailing contexts, such as visual merchandising. The research, therefore, will focus on effects of 3 types of visual merchandising on impulse buying behavior. The types of visual merchandising used as predictors in this study are window display, in-store form/mannequin display, and promotional signage.

Literature Review
Impulse buying has been considered a pervasive and distinctive phenomenon in the American lifestyle and has been receiving increasing attention from consumer researchers and theorists (Youn & Faber, 2000, p.179). Despite the negative aspects of the impulse buying behavior from past research, defining impulsive behavior as an irrational behavior (Ainslie, 1975; Levy, 1976; Rook & Fisher, 1995; Solnick, Kannenberg, Eckerman, & Waller, 1980), resulting from a lack of behavioral control (Levy, 1976; Solnick et al., 1980), impulse purchases account for substantial sales across a broad range of product categories (Bellenger at al, 1978; Cobb & Hoyer, 1986; Han, Morgan, Kotsiopulos, & Kang-Park, 1991; Kollat & Willet, 1967; Rook & Fisher, 1995; Weinberg & Gottwald, 1982)

Internal factors/cues Mood/Need/Desire Hedonic Pleasure Cognitive/Affective Evaluation

External factors/cues: Visual Merchandising Window Display In-store Form Display Floor Merchandising Promotional Signage

Impulse Buying Process

Browsing (Product Awareness)

Create Desire

Purchase Decision

Postpurchase Evaluation

Visual merchandising, or visual presentation, is the means to communicate a store/companys fashion value and quality image to prospective customers. The purpose of visual merchandising is to educate the customer, to enhance the store/companys image, and to encourage multiple sales by showing apparel together with accessories (Frings, 1999, p. 347). Therefore, each store/company tries to build and enhance its image and concept through visual presentations, which appeal to shoppers and ultimately transform them into customers by building brand loyalty and encouraging customersbuying behaviors. Visual merchandising is defined as the presentation of a store/brand and its merchandise to the customer through the teamwork of the stores advertising, display, special events, fashion coordination, and merchandising departments in order to sell the goods and services offered by the store/company (Mills, Paul, & Moorman, 1995, p. 2).

Emotional stimuli
MerchandisingAll activities appropriate to stimulate additional sales

Visual -Make your competencies visible -Make strategic relevant products best visible -Increase the level of consumer awareness

Visual Merchandisingto provide consumers efficient information and emotional loaded pictures, which support customer pleasure and shopping activity.

The store stimuli serves as a type of information aid for those who go to the store without any predetermination of what they need or buy, and once they get into the store, they are reminded or get an idea of what they may need after looking around the store. In other words, consumers impulse buying behavior is a response made by being confronted with stimuli that provoke a desire that ultimately motivate a consumer to make an unplanned purchase decision upon entering the store. The more the store stimuli, such as visual merchandising, serves as a shopping aid, the more likely the possibility of a desire or need arising and finally creating an impulse purchase

Visual Merchandising in Relation to Impulse Buying Behavior

In-store browsing may be a link between internal and external factors, as an important component in the impulse buying process as well as a link between consumers impulse buying behavior and retail settings including exterior and interior display. Instore browsing is the in-store examination of a retailers merchandise for recreational and informational purposes without an immediate intent to buy (Bloch, Ridgway, & Sharrell, 1989, p.14).

Research Methodology
Collection of data was done for Pantaloons Fresh Fashion stores in Kolkata. Population For analysis of perceived service quality: All people who visit Pantaloons Fresh Fashion Stores in Kolkata. For the analysis of effect measuring consumer impulse buying tendency, influence of visual merchandising All people Sample size For analysis of perceived service quality: 150 respondents For analysis of effect consumer impulse buying tendency, influence of visual merchandising : 125 respondents

Research

In this study, consumer impulse purchase tendency serving as a shopper characteristic and visual merchandising serving as an external cue are determined to be variables. Therefore, hypotheses were developed to investigate relationships between consumer tendency to purchase on impulse and 3 types of visual merchandising: window display, in-store form/mannequin display, and promotional signage.

Methodology
Sample: The sample group for this research survey was selected for people shopping in pantaloons . The sample size was 150who had filled the survey Survey Development : The instrument used for this study was in survey format .The questionnaire consisted of 4 major sections measuring consumer impulse buying tendency, influence of visual merchandising and demographics. Responses were measured using a five-point Likert scale, which ranged from never=1 to frequently=5. The first section of the survey measured consumer impulse buying tendency. Sections two through the section four included questions measuring three distinctive visual merchandising practices that were expected to influence consumer buying tendency. These were window display, in-store form/mannequin display, and promotional signage.

Respondents
above 22 17%

under 22 83%

Data Collection

The data was collected through a structured questionnaire The questionnaire was filled online by the respondents The total data collected included 150 respondents The data was selected for 125 respondents which was under the age of 22 to measure the influence of visual merchandising on the impulsive buying behavior of consumer

Data Analysis
Case Processing Summary

N Cases Valid Excludeda Total 125 0 125

% 100.0 .0 100.0

Statistical Packages for Social Sciences (SPSS) software is used for the data analysis. The plan for analysis is as follows. First, descriptive statistics and frequency tables will be generated by SPSS

a. Listwise deletion based on all variables in the procedure.

Data Analysis
Reliability Statistics Cronbac h's Alpha Based on Cronbac Standardi N of h's Alpha zed Items Items .904 .894 16
ATM 1.000 .250 .178 .164 .211 .197 -.032 .269 .198 .111 .171 .289 .031 .053 .240 SEIP .250 1.000 .687 .730 .663 .477 .036 .596 .504 .715 -.109 .313 .256 .134 .678 PPDM .178 .687 1.000 .789 .695 .574 .050 .580 .582 .629 .023 .246 .429 .386 .660 RTO .164 .730 .789 1.000 .836 .506 .058 .631 .490 .617 -.052 .271 .399 .287 .609 IOGD .211 .663 .695 .836 1.000 .487 .074 .653 .430 .576 .006 .222 .324 .255 .545

Then, principal component analysis with reliability test will be conducted. The Pearson correlation test will be conducted to see the correlations between college students impulse buying tendency and each of three types of visual merchandising practices.

Inter-Item Correlation Matrix EWD .197 .477 .574 .506 .487 1.000 .414 .372 .500 .446 .262 .232 .419 .449 .519 GWD -.032 .036 .050 .058 .074 .414 1.000 .179 .236 -.086 .225 .006 .347 .373 .129 DMWD .269 .596 .580 .631 .653 .372 .179 1.000 .693 .487 .035 .167 .275 .325 .515 MD .198 .504 .582 .490 .430 .500 .236 .693 1.000 .480 .083 .155 .427 .401 .546 BDD .111 .715 .629 .617 .576 .446 -.086 .487 .480 1.000 -.261 .205 .097 .101 .593 MDS .171 -.109 .023 -.052 .006 .262 .225 .035 .083 -.261 1.000 .017 .254 .124 .032 DMSD .289 .313 .246 .271 .222 .232 .006 .167 .155 .205 .017 1.000 .234 .041 .267 EPO .031 .256 .429 .399 .324 .419 .347 .275 .427 .097 .254 .234 1.000 .608 .427 IOS .053 .134 .386 .287 .255 .449 .373 .325 .401 .101 .124 .041 .608 1.000 .448 EOSP .240 .678 .660 .609 .545 .519 .129 .515 .546 .593 .032 .267 .427 .448 1.000 UPOS .246 .604 .631 .650 .562 .466 .139 .512 .420 .518 .118 .282 .447 .452 .833

ATM

SEIP

PPDM

RTO

IOGD

EWD

GWD

DMWD

MD

BDD

MDS

DMSD

EPO

IOS

EOSP

Data Analysis
Regression analysis will be conducted for hypotheses testing to find out the relationship between college students impulse buying tendency (dependent variable) and the three types of visual merchandising (independent variables).The result of the regression analysis on the impulsive buying behavior was 38% Y= beta0+ beta1 * X1 +beta2 * X2+ beta3 * X3+......+beta n * Xn Y= Dependent Vaiable and X=Independent Variable IOGD=beeta 0+beeta1* ATM+beeta2 * SEIP+beeta2 *SEIP+ beeta3 * PPDM+beeta4* RTO DMWD= beeta0+ beeta 1* EWD+ beeta2 *GWD MDS= beeta 0+beeta1* MD+ beeta 2 *BDD UPOS= beeta 0+ beeta 1 *DMSD+beeta2 *EPO+beeta3* ios+beeta4* EOSP

Results of the Regression Analysis On The influence Of Visual Merchandising On the Impulsive Buying Behaviour Of Consumer
50% 48% 46% 44% 42% 41% 40% 38% 36% Window Display Store Display Promotions 44% Results of the Regression Analysis On The influence Of Visual Merchandising On the Impulsive Buying Behaviour Of Consumer 48%

Recommdations
Pantaloons

in kolkata should put more efforts creating attractive and eye-catching in store display providing information regarding new products, fashion trends, or coordination tips. Since the target is under the age of 22 pantaloon as a pilot scheme could offer a three-month EMI option and zero interest rate, The offer would be available on all branded products, subject to a minimum purchase of Rs 1,500. The scheme could be in a tie-up with bank credit cards. Thus this would help Pantaloon to retain its impulsive buyers

Scope of Report

The report will be beneficial for the company to determine a comprehensive Service policy to reach impulsive buyers The report can also be used to develop visual merchandising to influence impulsive buying behaviour of consumer The company is now aware of the impulsive buying behaviour of consumer group which is under 22and hence it should target that group by increasing its visual merchandising

Limitations
There

was no personnel administration of data collection The sample was geographically limited and the age range was narrow. Data collected in other areas may produce different results. A competitive analysis was not done for data collection.

References

www.pantaloon.com http://www.fibre2fashion.com/news/companynews/pantaloon-retail-india/ http://www.retailangle.com/Newsdetail.asp?Newsid=2340&Ne wstitle=Levi%92s_jeans_available_on_EMI http://www.financialexpress.com/news/the-importance-ofvisual-merchandising/62649/ http://www.pantaloonretail.in/pdf/PRIL_Annual_Report_201011.pdf http://www.pantaloonretail.in/businesses/pantaloonsretail.html http://www.pantaloonretail.in/businesses/retail-formats.html http://mmb.moneycontrol.com/india/messageboardblog/mes sage_thread/11299571/13099572

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