Retail Marketing Project : Store conceptualization
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This document provides information on a proposed concept store for specialty food retail. It discusses market trends driving the success of niche food formats, including increasing incomes, demand for international foods, and filling a gap in the market. It then outlines the concept of frozen yogurt parlors being new in Chennai and lists the key existing players. Finally, it proposes positioning the store as providing the finest, freshest yogurt, cupcakes, and cheesecakes made with high quality ingredients with an emphasis on customer happiness.
Retail Marketing Project : Store conceptualization
- 1. JOYDIP Group 3 : Allen Rajesh Sanders Ridhima Arora Sheikh Shadab Soochna Sahu Suhasini Jain Vishal Gupta
- 2. Concept Store in the Specialty Food Retail Space Specialty food retail offers a limited product range segmenting the market via niche offerings Market trends leading to the success of the format: • Increase in disposable income leading to change in consumer lifestyle and aspirational level. • Growing demand for international packaged and processed foods: more people traveling internationally every year, which is driving, demand for varied cuisines. • We’d be filling in a specific gap in the market by way of high quality offerings not easily available.
- 3. 20% 26% 17% 37% When do people eat frozen yogurt, cupcakes,cheesecakes? When do you eat frozen yogurt? Just about any time When in the vicinity of the store As a snack As a Desert “64% of consumers prefer yougurts and ice-creams with toppings“ Need
- 5. Need :Category Need :The concept of Frozen Yogurt parlours are new in Chennai KEY PLAYERS • Cocoberry : Domestic Player , began operations in 2009 with 24 outlets in 7 cities holding 95% of the market shar • Red Mango : U.S Based company that began operations in 2012 with outlets in major metros • Yogurberry : South Koren major opene din India in 2012 with outlets in Delhi
- 6. POSITIONING HIGHLIGHTS: Joydip Speaks We serve the finest, freshest yogurt,cheesecakes,cupcakes of the highest quality ingredients . Our signature process of preparing your CUSTOM CREATION on a frozen granite stores . We’re about more than just serving up scrumptious dessert options. We are really in the business of making people happy. From our enthusiastic, singing crew members, to the shared laughter of a family enjoying a treat together if it’s making you, your friends, or your loved ones happy, then we’re doing our jobs right
- 7. Triangle & Pentagon Model Systems Logistics Suppliers Product -Style & Fashion -Intensity -Assortment People Services Value Price Communication -Positional -Promotional Place : Size Location Layout & Design
- 8. TRIANGLE MODEL •For maintaining the LOGISTICS of store, the shelf life of all the ingredients are identified below •Shelf life regular yogurt is 10 days and under refrigeration it can be stored upto 6 months .For Cupcakes , cheesecakes , it remains to be 2-4 days •Local SOURCING will be done for toppings(fruits, nuts, chocochips), yogurt and cakes •SYSTEMS :Linking stores through a comprehensive computerization initiative, which include a point-of-sale solution for the customer at the front end. •Internal call centre for home delivery service. •In store display of products and daily offers on big LCD screens
- 9. Place Size- 600 square feet Place- we are planning two stores 1.Phoenix mall, Chennai 200 sqft 2 .Khadar Nawaz Khan,Nungambakkam 250 sqft Rental : 8 Lakhs/year for each Franchise Cost : 5 Lakhs /year
- 10. Variance Vectors
- 11. In-store •OOH displays in the mall •DIY Workshops : in lean times , we will give the customers a chance to create their own Dessert . This would help us with Word of Mouth marketing •Tasting options •Special Kid packs : Focus on mini cup cakes, mini cheese cakes Social and New Media : • Tying up with Food Bloggers , activity on online food communities like Food Talk India , Eat Treat etc • Hosting events via Food Talk India on Sunday morning : DIY Workshop • Engagement on Zomato • Social Media Marketing , geo-targetting • E-mail campaigns , coupons Other : • Tie-ups with Colleges and popular schools Promotional Strategies
- 12. •Share your favourite flavour and topping with us today and win an extra topping free the next visit •Digital display board with all flavours and toppings Instagram
- 13. •Recruiting young, enthusiastic and dedicated employees •Employees are appropriately trained for delivering the service. •Personality development and grooming sessions are also provided •Provide them with various facilities such as medical help, consultation, traveling facilities, perks and bonuses •Team members are recognized and rewarded based on ability and merit for their contributions •Concept tapping into the latent needs of the customer •Healthy variant of an ice-cream caters to variety seeking customers People
- 14. Customer Service: Making improvement through team work and employee empowerment Positioning: Quality over quantity Item Price Basic: Regular Rs 120 Basic: Large Rs 200 With Toppings: Basic Rs 20 With Toppings: Premium Rs 30 Value & Pricing Price: High price ( Due to customization) Value Drivers
- 16. Income Statement (In Rs) SPM Model Income Statement and BS
- 17. BRAND outlet mall Trading Area 250 200 Net Revenue / sqft 2080000/(250*365)=22.7 9 2922400/(200*365)= 40 NOB * ABV = Daily Sales 25 *220 = 5500 49* 160= 7840 GM% 56.7 % 55.51% Retained GM / sqft 1180000/(250*365)=12.9 3 1622400/(200*365)= 22.22 Rent / Sqft/per day 8.76 10.95 People 3 2 Total Opex / sqft 14.25 17.8 Store Ebitda / sqft 8.54 22.2 Ebitda % 37.4% 55.5% Store EBITDA Model (In Rs)
- 18. Thank You
Editor's Notes
- #6: Key Players Cocoberry : Domestic Player , began operations in 2009 with 24 outlets in 7 cities holding 95% of the market share Red Mango : U.S Based company that began operations in 2012 with outlets in major metros Yogurberry : South Koren major opene din India in 2012 with outlets in Delhi