Mukesh Ambani's Reliance Retail May Launch New Commerce Venture in Diwali
The new commerce is Reliance Retail’s offline-to-online initiative, which would link producers, traders, small merchants, brands and consumers through technology. The company has been working on its new commerce plan for nearly two years.
File photo of Reliance Industries Limited Chairman Mukesh Ambani.
New Delhi: Reliance Industries Ltd (RIL) CMD Mukesh Ambani’s Reliance Retail could launch its “new commerce” venture around Diwali, according to industry officials aware of the plans. The new commerce is Reliance Retail’s offline-to-online initiative, which would link producers, traders, small merchants, brands and consumers through technology.
According to a report by Mint, the company, the retail arm of Reliance Industries Ltd (RIL), has been working on its new commerce plan for nearly two years. At present, it operates neighbourhood stores, supermarkets, hypermarkets, wholesale, speciality and online stores.
“Reliance Retail is planning to launch its e-commerce venture in two phases — one, a soft launch around Diwali, and then a full-fledged launch by December-January. A Diwali Dhamaka launch plan may entail discounts that other online retailers also offer,” an official was quoted as saying by Mint.
Reliance Retail aims to connect as many as 30 million neighbourhood stores through the venture, Ambani said at the company’s annual general meeting on 12 August. To test the market, it plans to offer discounts and offers through text messages to customers. “This is more to study the consumption pattern like who lives where and who buys what,” another official said.
In July, Mint had reported that RIL has initiated a pilot project for assisted e-commerce at Jio Stores, wherein store staff will take orders and customers can collect/return orders from a Jio Store. RIL is also hiring distributors to sell private-label brands through neighbourhood stores.
“They want to leverage a large number of kirana stores as it will be saving on their logistics costs. Besides, RIL is not signing kirana stores as competitors, but business associates. If you want grocery in 10 minutes, only your local kirana store can deliver that and Reliance Retail wants to be that for you,” said the official.
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