Context :
Extract :
Which Tech
Startups ?
Ø Express Stores
Ø Behtar stores
Ø Gully Network
Ø Good-Box
Ø ShopKirana / Need
Square
Ø NIFLR [ ankur@niflr.com ]
Ø Jumbotail [ karthik@jumbotail.com / ashish@jumbotail.com ]
What “ new models “ ?
Ø Co-branding
Ø Efficient Supply
Chain [ connecting retailers directly with brands ]
Ø In-store Experience
Ø Customer Engagement
How executed ?
Ø Merchandizing
Ø Inventory Procurement
Ø Invoicing
Ø Financing
Ø Branding / Brand
Partnership
Ø Self-Check-out
Ø Online Ordering
Ø Customer Relationship
Management Tools
Ø Analytics
Ø Logistics
Ø UPI – QR Code-based
Payment solutions / POS solutions
Ø Digitization and
Ledger Solutions
Quotes :
Ø Ajay Nain ( Founder , Gully
Network Retail )
“ Physical retail is such
a large, fragmented, differentiated and unorganized business that no one
solution can fit this underserved market
Our thesis is that small
shops need a 360 degree handholding to embrace
technology to cope with the ever-dynamic purchase behavior of consumers
and generate additional income other than their primary business “
Ø Sumit Ghorawat ( CEO, ShopKirana )
“ Kirana stores in India
will take their own journey to be the STORES of the
FUTURE.
Our aim is to work on
taking these steps with them “
Ø Abey Zachariah ( CEO, Goodbox )
“ It has become an
imperative for kiranas ( corner stores ) to use
technology to even survive in the future “
What is the
Reliance Retail bandwagon ?
In my blog : MA = DA x 4,000,000 ? [ 17 July 2018 ]
I envisaged Reliance Retail “ Game Plan
“ as follows :
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SALES :
All of your merchandize will be available for selection /
ordering on our ONLINE web portal
This online presence of your merchandize will expand / extend your "
reach " to thousands of consumers in your neighborhood
You will need to only focus on OFFLINE ( across-the-counter )
sales to consumers who walk into your store
For OFFLINE sales , we will install in your stores , all the necessary
Computers / POS
terminals / Routers / Internet Connections / Mobile Wallet Payment systems and an end-to-end , RETAIL MANAGEMENT
software
All of your OFFLINE sales data will get transferred to our
Central Server
SUPPLY :
We will deliver to your store , all merchandize on "
Consignment " basis
This means , you do NOT need to pay us for what we deliver to
you store !
Till sold , all goods in your store will be our " stock
"
This way , you do NOT need any " Working Capital " as far as your stocks are
concerned
We will also tie-up with the manufacturers
You don't need to have any interaction / dealing with the manufacturers
INVENTORY :
On a continuous basis , our web server will keep a track of each and every item of merchandize sold from your stores
Our Server will calculate , your " Stock Movement "
Based on this data , our Server will compute / set for each item :
# Minimum Stock Level
# Alarm Stock Level
# Stock Re-Order Level
# Re-Order Quantity ( Minimum Batch Size )
Based on this logic , our Server will instruct the relevant " Merchandize Manufacturers " ( or
their dealers / stockists ) , to deliver the
stipulated " Re-Order Quantities " to your stores
A " Re-Order Instruction intimation " , will get
delivered to your computer
Upon arrival , you will need to update the data
From time to time , our Software will also figure out your current stocks of " Extremely Slow Moving " and " Obsolete / Expired " items , and arrange for " Return Delivery " , which you will need to enter in your database
DELIVERY :
Not only we will deliver the merchandize to your store , but we will also pick
up " Ordered Items " ( for ONLINE orders only ) , from your store and
deliver the same to your customers !
Initially we will employ manual " Delivery Persons "
for this but , before long , we will deploy a fleet of autonomous DRONES for this
purpose
This fleet will cover " Kirana Stores " and "
Online Customers " , located in pre-designated areas , covering 4 sq km (
2 km x 2 km )
We are in talk with www.What3Words.com , to enable precise delivery through your
10th floor window !
These drones will get their " Delivery Instructions "
directly from our Web Server , for all ONLINE orders
When these drones arrive at your Store to pick up the items ( to
be delivered ) , they will transfer ( Blue Tooth / NFC ) and display on your
Computer screen , following data :
# Online Order Number / time / date
# Items covered with description / value of each
# Customer Name / Address
# Mode of Online Payment / Bank Details
# Your online account CREDIT details , giving,
( Sales Value ) - ( Purchase Price )
" Purchase Price " of goods in your stock will be
based on FIFO method
FINANCE :
As explained earlier , you will have a bare minimum need for " Working Capital " , since all of your stock will be on " Consignment " basis
We will collect the " ONLINE PAYMENTS " directly from the customers and " Credit " the same to your " online sales account " with us
Against same account , we will " Debit " the " purchase price " ( price at which you purchase the merchandize from Reliance ) of the goods sold
Our server will also take care of all GST payments and filing of GST returns
As far as OFFLINE sales is concerned , all the data captured through POS terminal will get transferred to our Central Server
MARKETING :
Not only will we carry out all marketing for your ONLINE sales , we will help you with your OFFLINE marketing , through introduction of the following technology-enhanced features :
# Arranging a better display of merchandize on your shelves / re-arranging of shelves
# Introducing Augmented Reality ( AR ) for clothes / fashion goods in " Trial Rooms " for
giving the customers , an experience
of " touch - feel - looks "
# Introducing Robots to answer customer inquiries
# Eliminating " Check Out Counters " , based on " Payments through Bio-metric
# Introducing Robots to answer customer inquiries
# Eliminating " Check Out Counters " , based on " Payments through Bio-metric
Recognition " of customers
# Embedding RFID sensors in each item of merchandize and RFID readers embedded in
# Embedding RFID sensors in each item of merchandize and RFID readers embedded in
Shopping Carts
# Improving your window display thru rotation
# Introducing music
# Eventually replacing " Physical " merchandize with " Holographic Display " of
# Improving your window display thru rotation
# Introducing music
# Eventually replacing " Physical " merchandize with " Holographic Display " of
merchandize on your
store shelves !
Related Reading:
Ready to revolutionize Retail [ 3R ] ? [ 15 Aug 2019 ]
Who needs Fulfillment Centres [ FC ] ? Not Reliance Retail
[ 23 Apr 2019
]
Bypass E : Go from D to F [
07 Feb 2019 ]
Reliance
Retail acquires Shri Kannan Departmental Store for Rs 152 crore [ 08 Mar 2020 ]
Extract :
Reliance Industries said the investment
will further strengthen the group's retail operations and presence in the state
of Tamil Nadu and will further enable retail and new commerce initiatives.
Reliance Retail registered over 50 crore footfalls last year and clocked
a turnover of Rs 1.3 lakh crore. With a presence in nearly 7,000 towns and cities, the
company has over two-third of its 10,415 stores are in tier II, tier III and
tier IV towns.
Over the next five years, it aims to be among the world's top
20 retailers by leveraging blockchain, Internet of Things, artificial
intelligence and
other new
technologies on
a pan-India basis.
Retail
2020
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