The Crossword Story – Innovative Strategies in Book Retailing

Case Study Abstract

The focus of this case study are the innovative strategies adopted by leading Indian organized book retailing chain – Crossword Bookstores Limited. This case discusses the constant innovations brought about by the bookstore and how it has brought international standards of book retailing to Indian customers.

Table of Contents

1. Introduction
2. About the Company
3. Background Note – A dream of an India-based world-class bookstore
4. Exhibit I – Most Frequently Visited Book and Music Stores in India
5. Exhibit II: Achievements and recognitions for Crossword
6. Crossword – Quick Facts
7. Crossword – Market Positioning
8. Exhibit IV – SWOT Analysis of the Indian Book Market
9. Exhibit V – Book retailing scenario in India
10. The ‘print then distribute’ model
11. Driving factors for Market growth in India
12. Typical Characteristics of the Indian book market in the 80s
13. Exhibit VI: Journey of Organized Retail in India
14. Exhibit VII: Population Growth rate and ROI on Retail real estate in India
15. Exhibit VIII: Typical Bookstore classification in India
16. Innovations at Crossword
17. What has shifted shoppers’ loyalties to the up market bookstore?
18. Crossword – Breaking the rules – Much more than a bookstore
19. The inaccessible ‘U’ shaped first store
20. Exhibit IX: Simple innovations at Crossword Stores
21. Keeping the customers in mind – Understanding buying readers’ psyche
22. Improving window displays
23. A welcoming café
24. Reading tables and chairs
25. Helping booklovers – ‘Books once sold WILL be taken back’
26. Crossword Children’s Hour – Book Reading and story-telling sessions
27. Unique Product Mix
28. Increasing margins with non-book business category and own private label business
29. Innovative marketing strategies for book retailing in India
30. The Crossword Book Award
31. Exhibit X- Crossword Book Award winners
32. Shop-in-shop model
33. Investment in an ERP
34. Design Innovation – High-and low-impulse sections, Adjacencies
35. Crossword – Store Formats
36. Competitor Oxford’s – Store Formats
37. Exhibit XI: Retailing formats available in India
38. Summary of Financial Performance of Crossword Bookstores (2007-08)
39. Competitor Analysis – – Crossword vs. Oxford Bookstore
40. Crossword – Store Locations in India
41. List of major book retailing chains in India
42. Exhibit XII: Book Exports to India from the UK and the USA, 2000–2006
43. Exhibit XIII: India – Lifestyle, Demographic and economic indicators
44. Exhibit XIV: India’s income classes (1994-2006)
45. Exhibit XV: Organized Retail Penetration in India across categories
46. Popular Book and Author choices in India
47. Crossword – Best of 2008 list
48. Overview of the U.S. Bookstore industry
49. Questions for Discussion

Case Study Keywords: Organized Book Retailing, Crossword, Shopper’s Stop, Landmark, Oxford bookstores, book retailing in India, leading bookstore, retail formats, R Sriram

Case Questions for Discussion

1. “You can’t take books as any other commodity. If every store has the same kind of books, what’s the fun? In this business you have to know how to select books and build customer relationship.” – How did Crossword change the book retailing scene in India? Analyze the growth of Crossword as a world-class book retailer.
2. Compare and contrast your experience from your visit to a local bookstore to the innovative services being offered by Crossword at its stores. What can Crossword do different to add more value to its customers?

Case Snippets/Updates:

• Crossword Bookstores Ltd. is a wholly owned subsidiary Company of Shopper’s Stop Ltd – India’s leading department store chain. Crossword has 55 stores across 11 cities in India.
• In 2006, Businessworld rated Crossword as the 6th Most Respected Retailer in the country
• In Dec 2009, Crossword launched its 55^th store in India. The store, launched in Hyderabad was the 5^th one in the city by the leading lifestyle bookstore chain.
• According to Assocham, an industry chamber, organized retail in India accounts for $9.23 billion (around Rs 42,000 crore). This is around 5% of the overall retail market. This figure will reach $13 billion (approx. Rs 60,375 crore) by 2010.