Harvard Case - Basmati House Supermart: Competing with the E-retail Channel
"Basmati House Supermart: Competing with the E-retail Channel" Harvard business case study is written by Jaydeep Mukherjee. It deals with the challenges in the field of Marketing. The case study is 12 page(s) long and it was first published on : Aug 5, 2020
At Fern Fort University, we recommend that Basmati House Supermart implement a comprehensive strategy to combat the growing threat of e-retail channels. This strategy involves a multi-pronged approach encompassing digital marketing, enhanced customer experience, product innovation, strategic partnerships, and operational efficiency. By leveraging these initiatives, Basmati House can effectively compete in the evolving retail landscape and retain its loyal customer base while attracting new ones.
2. Background
Basmati House Supermart is a successful family-owned grocery store chain in India, known for its high-quality products, competitive pricing, and personalized service. However, the emergence of online retailers such as Amazon and BigBasket has posed a significant challenge to their traditional business model. These e-retailers offer convenience, competitive pricing, and a vast selection of products, attracting a growing customer base.The main protagonists of the case study are the family owners of Basmati House, who are facing the difficult decision of how to adapt their business to the changing market dynamics. They are concerned about losing market share and customer loyalty to online competitors.
3. Analysis of the Case Study
To analyze the situation, we can apply the following frameworks:
SWOT Analysis:
- Strengths: Strong brand reputation, loyal customer base, established supply chain, personalized service, expertise in fresh produce.
- Weaknesses: Limited online presence, lack of digital marketing expertise, potential for operational inefficiencies, limited product range compared to online retailers.
- Opportunities: Growing demand for convenience, increasing internet penetration, potential for partnerships with online platforms, expansion into new markets.
- Threats: Competition from online retailers, changing consumer behavior, potential for price wars, technological advancements in e-commerce.
Porter's Five Forces:
- Threat of new entrants: High due to low barriers to entry in the online grocery market.
- Bargaining power of buyers: High due to the availability of numerous options online.
- Bargaining power of suppliers: Moderate, as Basmati House has established relationships with suppliers.
- Threat of substitute products: High due to the availability of online alternatives and other retail formats.
- Competitive rivalry: Intense due to the presence of established online players and traditional supermarkets.
PESTEL Analysis:
- Political: Government regulations on online retail, tax policies.
- Economic: Economic growth, inflation, consumer spending patterns.
- Social: Changing consumer preferences, growing demand for convenience, increasing internet usage.
- Technological: Advancements in e-commerce, mobile payments, delivery technologies.
- Environmental: Sustainability concerns, packaging waste.
- Legal: Data privacy regulations, consumer protection laws.
Marketing Mix (4Ps):
- Product: Enhance product range to include niche and specialty items, focus on fresh produce and local products, offer customized product bundles.
- Price: Implement competitive pricing strategies, offer loyalty programs and discounts, consider value-added services like home delivery.
- Place: Expand online presence through a user-friendly website and mobile app, explore partnerships with delivery platforms, maintain physical store network.
- Promotion: Leverage digital marketing channels, run targeted advertising campaigns, engage with customers on social media, build brand awareness through community initiatives.
4. Recommendations
To effectively compete with e-retail channels, Basmati House Supermart should implement the following recommendations:
1. Enhance Digital Presence:
- Develop a user-friendly website and mobile app: Provide a seamless online shopping experience with easy navigation, secure payment options, and order tracking.
- Invest in digital marketing: Implement targeted advertising campaigns on social media platforms, search engines, and other relevant channels.
- Leverage SEO and SEM: Optimize website content for search engines to improve organic visibility and drive traffic.
- Build an active social media presence: Engage with customers, share updates, run contests, and build a community around the brand.
2. Enhance Customer Experience:
- Offer personalized services: Implement customer relationship management (CRM) systems to track customer preferences and provide tailored recommendations.
- Provide convenient delivery options: Partner with delivery platforms or build an in-house delivery network to offer fast and reliable delivery services.
- Offer value-added services: Introduce services like online grocery ordering, click-and-collect, and home delivery of fresh produce.
- Improve in-store experience: Enhance store layout, offer self-checkout options, provide personalized customer service, and create a welcoming atmosphere.
3. Product Innovation:
- Introduce niche and specialty products: Cater to specific customer segments by offering unique and hard-to-find products.
- Focus on local and organic products: Leverage the trend towards healthy and sustainable food choices by offering fresh, locally sourced produce.
- Develop private label products: Create unique product lines under the Basmati House brand to differentiate from competitors.
- Offer customized product bundles: Provide pre-selected product bundles tailored to specific needs, such as meal kits or gift baskets.
4. Strategic Partnerships:
- Partner with online platforms: Collaborate with established e-commerce players to expand reach and access a wider customer base.
- Partner with local businesses: Collaborate with restaurants, cafes, and other businesses to offer joint promotions and cross-selling opportunities.
- Engage with influencers: Partner with food bloggers, social media influencers, and other relevant individuals to promote products and build brand awareness.
5. Operational Efficiency:
- Optimize supply chain: Implement efficient inventory management systems, streamline procurement processes, and reduce waste.
- Invest in technology: Implement digital tools for order management, customer service, and data analytics.
- Improve employee training: Train staff on digital marketing, customer service, and product knowledge.
- Focus on sustainability: Implement eco-friendly practices, reduce packaging waste, and promote sustainable sourcing.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with Basmati House's existing strengths, such as its brand reputation, customer focus, and expertise in fresh produce.
- External customers and internal clients: The recommendations address the needs of both existing and potential customers, while also considering the needs of internal stakeholders such as employees and suppliers.
- Competitors: The recommendations aim to differentiate Basmati House from its competitors by offering unique value propositions and leveraging its strengths.
- Attractiveness ' quantitative measures if applicable: The recommendations are expected to increase revenue, improve profitability, and enhance customer loyalty.
6. Conclusion
By implementing these recommendations, Basmati House Supermart can effectively compete with the growing threat of e-retail channels. By embracing digital transformation, enhancing customer experience, and innovating its product offerings, Basmati House can retain its loyal customer base while attracting new ones. The key to success lies in adapting to the changing market dynamics, leveraging technology, and focusing on providing a superior customer experience.
7. Discussion
Other alternatives not selected include:
- Merging with an online retailer: This option could provide immediate access to a wider customer base and online infrastructure, but it would require significant investment and could potentially dilute the Basmati House brand.
- Focusing solely on physical stores: This option would involve maintaining the existing business model, but it would likely lead to a decline in market share as online retailers continue to grow.
Risks associated with the recommendations include:
- High investment costs: Implementing the recommended strategies will require significant investment in technology, marketing, and staff training.
- Potential for technological disruption: The rapid pace of technological advancements in e-commerce could render some of the recommendations obsolete.
- Competition from established players: The online grocery market is highly competitive, and Basmati House will need to differentiate itself to succeed.
8. Next Steps
To implement the recommendations, Basmati House should:
- Develop a detailed implementation plan: Outline timelines, milestones, and responsibilities for each initiative.
- Allocate resources: Secure funding and allocate resources to support the implementation of the recommendations.
- Monitor progress: Regularly track progress and adjust the plan as needed.
- Communicate with stakeholders: Keep employees, customers, and other stakeholders informed about the changes and the benefits they will bring.
By taking these steps, Basmati House Supermart can successfully navigate the evolving retail landscape and secure its future in the competitive grocery market.
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Case Description
In January 2020, the proprietor of Basmati House Supermart (BHS), a large grocery retail outlet in India, terminated a partner retailer contract with Springers, an online retail platform. The proprietor had an ancestral property, located in a high-footfall area of the wholesale market, that could be developed into a retail outlet. In the new outlet, the broad options were to replicate the current retail business, focus selectively on staples and do more wholesale, or only focus on rice and develop it as a brand for larger distribution. Alternatively, the proprietor could rent the new property, wind down the grocery business, and invest the money in a fitness centre. Each option required its own particular investments, competence, and marketing strategy, and all options entailed considerable uncertainty and risk. BHS was steadily losing money; therefore, the decision had to be made quickly.
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