Source :
( 12 Aug 2019
)
Highlights :
Reliance Industries Ltd (RIL)
aims to revolutionize India’s retail industry by connecting as
many as 30 million kirana or
neighbourhood stores, through its offline-to-online initiative.
……….Mukesh Ambani said on Monday that the so-called ‘new commerce’ platform
would connect consumers, merchants and producers across the country.
“The
main purpose of new commerce is to completely transform the
unorganized retail market, which accounts for 90% of India’s retail industry.
He
said RIL is working towards enriching and empowering the merchants
and kirana shop
owners with its end-to-end digital and physical distribution stack.
“For
this, we are deploying blockchain, internet of things (IoT), artificial
intelligence (AI) and other new technologies on a pan-India basis.
This tech-enabled
partnership will link
producers, traders, small merchants, consumer brands and consumers."
Through
the differentiated
business model, RIL plans to provide a technology platform for
millions of small merchants across India to strengthen and grow their business.
“New commerce will
transfer significant new value to consumers, producers, and merchants.
Our merchant point of sale (PoS) solution—Jio
Prime Partner PoS—is integral to our plan to create an ecosystem around
small merchants," Ambani said, adding Jio Prime Partner PoS will
modernize even the smallest neighborhood kirana shop to become a future-ready
digitized store.
In
the past year, RIL made significant progress in developing and testing its
merchant technology platforms. It’s beta trials with thousands of merchants across
multiple locations established the premise of new commerce with significant
increase in sales and improvement in margins for the participating merchants.
Ambani
said RIL is now preparing to roll out the platform at a larger scale. The new commerce platform
thus represents the digital symbiosis of big and small enterprises.
“I
believe that the small must not only survive, but also thrive in new
India," he added.
On
the business of Reliance Retail, he said the company had crossed ₹1.3 trillion in revenue last year and added that two-third
of its stores were in tier-II, III and tier-IV towns.
“It is four times larger than the
second-largest retail player and also larger than all the other major retailers
put together," Ambani said.
=========================================================
Public got the
first hint of the “ New
Commerce “ , one year back, in RIL AGM of July 2018
That 2018 AGM
speech by Mukesh, made me wonder :
“ What could possibly be the framework of this
F – Commerce ( “ Future Commerce “ is my favorite term for NEW COMMERCE ) ?
Following
aspects came to my mind , about which , I conceptualized RIL strategy :
# Sales
# Supply
# Inventory
# Delivery
# Finance ( Working Capital )
#
- and Lo and Behold !
Over the past
one year, the script that I wrote in the following blogs, seems to be playing
out , rather accurately :
MA = DA x 4,000,000 ? [ 17 July 2018
]
Who needs Fulfillment Centres [
FC ] ? Not Reliance Retail [ 23 April
2019 ]
Bypass E : Go from D to F
[
07 Feb
2019 ]
Weave a Wondrous World [ W3 ] [ 20 Jan 2019
]
Mukesh has the last laugh ! [ 31 Dec 2018
]
Re-defining Retail : Maini and
Mukesh [
30 Oct 2018 ]
Jio Hubs : Entrepreneurs Apply [ 19 Sept 2018
]
Reliance Juggernaut Rolls ! [ 06 July 2018
]
============================================================================
16 Aug 2019
Rsvp :
hcp@RecruitGuru.com
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