A STUDY ON REVIEW OF EVERY DAY LOW PRICE STRATEGIES OF MASS RETAILERS SEVEN ELEVEN (OFFLINE GLOBAL OPERATIONS) AND BIGBASKET (ONLINE INDIAN OPERATIONS)-THEIR VIABILITY IN INDIAN MARKET PLACE

1. Student of Masters of Fashion Technology, Semester-4 , National Institute of Fashion Technology, Gandhinagar, Gujarat. 2. Assistant Professor and CIC, Department of Fashion Design, National Institute of Fashion Technology, Gandhinagar, Gujarat. ...................................................................................................................... Manuscript Info Abstract ......................... ........................................................................ Manuscript History Received: 12 January 2020 Final Accepted: 15 February 2020 Published: March 2020

The 7-Eleven trace their origin to 1927 when several icehouse companies which primarily sold block ice for food preservation to households without electric refrigerators-merged to form the Southland Ice Company in Dallas. Either after the merger or shortly before it, one of the icehouses also began selling food items. Southland Ice soon took up general retailing, installing attention-getting Native American totem poles in front of some of its stores and adopting the name Tote'm Stores, which served as an amusing invitation to customers to -tote‖ their purchases away. Joe C. Thompson, Sr., became president of Southland Ice in 1931. During the Great Depression, the company went through bankruptcy. It emerged with a new emphasis on food and drink, especially after the repeal of Prohibition in 1933, when beer and liquor were first offered for sale.
In 1946 the stores were renamed 7-Eleven to call attention to their extended hours of operation-from 7:00 AM to 11:00 PM, seven days a week. About the late 1950s, Southland began to expand beyond Texas, opening 7-Eleven stores on the East Coast. Joseph Thompson's son, John P. Thompson, became president in 1961 and further expanded operations in the United States and elsewhere. Starting in 1963 some outlets stayed open 24 hours a day, and the following year the company began to franchise its stores.

Corresponding Author:-Mahuri Kesharwani
Address:-Student of Masters of Fashion Technology, Semester-4 , National Institute of Fashion Technology, Gandhinagar, Gujarat.

500
Southland licensed a Japanese affiliate in 1973, and by 1974 there were 5,000 outlets worldwide. The company expanded beyond food, drink, and conveniences into other fields, purchasing such businesses as Chief Auto Parts (1978). Because many of its stores also served as automobile filling stations, Southland bought CITGO Petroleum in 1983 as a supplier. The company sold off 50 percent of its stake in CITGO in 1986.
The 7-Eleven company's signature products are the Slurpee, an iced drink introduced in 1966, and the Big Gulp, a 32-ounce (946-ml) cup for fountain drinks, introduced in 1976. After the Big Gulp proved highly popular, the company added even larger-sized -gulps. (-7-eleven | history & facts,‖ n.d.)

Bigbasket (Online Indian Operations):
In 1999, Hari Menon along with five of his friends-VS Sudhakar, Vipul Parekh, AbhinayChoudhari and V S Ramesh launched their online retail website called ‗Fabmart'. Even though did they manage to get some traction but since their idea was way ahead of its time, they could not shake the masses They decided to start their online business again and focused all the energies on ‗Fabmall', their physical retail chain of grocery stores. They also merged this chain with another grocery retail chain called -‗Trinethra'. Within a span of seven years they expanded their business to 200 stores across Andhra Pradesh, Tamil Nadu, Karnataka and Kerala. At that point of time they decided to sell their business to Aditya Birla Group but Krishnan Ganesh an entrepreneur concluded to go ahead with it. Finally in December 2011, they launched BigBasket.com! They failed to get some attention as their idea was way ahead of its time, so they could not work for the masses. Implementing many strategies and with hard work, within 7 years, they succeeded to expand their business to 200 stores across Andhra Pradesh, Tamil Nadu, Karnataka and Kerala. Around the same time, they also decided to selloff the business to Aditya Birla Group. Soon after their launch, they received their first funding of$10million from ChrysCapital co-founder Raj Kondur and Ascent Capital. (-Dsim-digital marketing blog,‖ n.d.)

Literature Review:-7 eleven (Offline Global Operations): Convenience Store Industry in Japan:
From 1991 to 2002 the number of convenience stores in Japan increased from 19,603 to almost 42,000 .In 2004, the top 10 convenience store chains accounted for approximately 90 % of Japan's convenience stores.
In 2004 Seven-Eleven accounted for 60% of the total net increase in the number of stores among the top 10 convenience store chains in Japan.

eleven Japan's Franchise System:
Market Dominance Strategy for: Wine, game software, music CDs, and magazines.
Store Services: 1. In 1987 -in-store payment of Tokyo Electric Power bills, gas, insurance premiums, and telephonebills. 2. In 1994 -instalment payments on behalf of credit companies. In 1994 -ski lift passvouchers. 3. In 1995 -accepting payment for mail orderpurchases 4. In 1999 -payment for Internet shopping. 5. In 2000, a meal delivery service company, Seven-Meal Service Co., Ltd to serve the aging Japanesepopulation. 6. By 2004 -ATMs had been installed in about 75 percent of the total store network inJapan.
Other services included photocopying, ticket sales using multifunctional copiers, being a pick up location for parcel delivery companies. In 2000 -7dream.com. In 2006 -Affiliation with ticket seller, Entertainment Plus Inc., and services started Introduction of Sixth-Generation Integrated Information System. In 2007 --Otoriyose-bin" services using Internet launched, Introduction of proprietary "Nanaco" electronic moneysystem.

Information management
TotalInformationSystemwereinstalled in every outlet and linked to headquarters, suppliers, and the Seven-Eleven distribution centers. In 1982introduction of POS system comprising POS cash registers and terminal control equipment. In 1985 -company developed, jointly with NEC, personal computers using color graphics that wereinstalledateachstoreandlinkedto the POS cash registers. In 2001 they linked more than 5,000 stores byISDN.The hardware system at a 1994 Seven-Eleven store included the following: 1. Graphic order terminals for placing orders were linked to the store computer. 2. Scanner terminals scanned deliveries from the distributioncenter. 3. Store computers were linked to the ISDN network. 4. POS registers were linked to the store computer. (Chopra, 2017) Distribution System 1. Combined deliverysystem 2. Three-times-a-day store delivery of all ricedishes 3. Bread and other fresh food were delivered twice a day 4. Flexible enough to alter delivery schedules depending on customerdemand 5. Ice cream was delivered daily during the summer but only thrice a week at other times. The replenishment cycle time for fresh and fast food items is less than 12 hours. A store order for rice balls by 10 a.m. delivered before the dinner rush. (Chopra, 2017)

Bigbasket (Online Indian Operation)
Big Basket follows inventory model currently. They started from just in time model then they moved to an inventory model considering their expansion and large base of consumers. Additionally, they maintain warehouses to stock products which they purchase from different vendors. Their vendors include big firms like P&G, HUL etc. along with small -mandi‖ vendors and -kirana‖ shops. Moreover, procurement totally depends on type of products and from where they have to be sourced. To maintain margins, generally it is preferred to procure items from farmers directly. The whole chain Starts at early morning and they have proper team who benchmarks different prices, so that procurement could be done efficiently considering cost and time.
Running a big chain in such a business is very difficult, so Big Basket has tied up with local grocery stores to serve consumers as soon as possible, which is called as hyper local strategy. They are working on express delivery so that they can deliver products in as much as less time possible like rice, lentils, cooking oil (basic items) etc. in 60 minutes. Acquisition of DELYVER (strong two wheeler network) was done for the same purpose.)(-Dsimdigital marketing blog,‖ n.d.)

Major points of supply chain process of Bigbasket (Online Indian Operations):
After getting materials from their vendors, it is stored in warehouses (warehouses cater to cities within KMs range of 250-300) where packing of items is done. Refrigerated vans are placed in different regions from where order is delivered to customers or now they have storage facilities by name of dark storage where they store materials before dispatching to customers. Dark storage facilities get a direct feed from warehouses.Browse, select and pay. It deals in staples, vegetables, meat and fish to gourmet and ready-to-eat food, household goods and personal care items now. Use of data analytics is helping them to avoid wastage as items are perishable. Big Basket processes 35000+ orders every day and operates in 23+ cities Nation-wide. They are operating 25 warehouses and 63 storage facilities with a customer base of three million (-Dsim-digital marketing blog,‖ n.d.)

Research Methodology:-
During the course of study authors learned that it's essential to do the SWOT Analysis forthebettermentofcomparisonofboththe business models. SWOT analysis helps in understanding the variousstrength, Weakness, opportunity and threats of the company which is helpful in understanding the business model also thereby improving and enhancing for the further accomplishments.