Monday January 20, 2020
Home Lead Story Reliance to D...

Reliance to Digitise 5 mn Indian Kirana Stores by 2023: Report

Reliance, with a deep footprint in over 10,000 Reliance Retail outlets pan-India, is working on to create the world's largest online-to-offline new ecommerce platform

0
//
Reliance Jio office. Source: www.reliancejio.website

As more and more neighbourhood kirana stores aim to modernise their tech infrastructure, the entry of Reliance Industries Limited (RIL) would help expand the current 15,000 digitized store base to over five million stores by 2023, a Bank of America Merrill Lynch research said on Tuesday.

One of the most interesting trends in retail sector in India is that kirana stores are keen to upgrade their merchant point-of-sale (MPoS) technology, which is driving a wave of modernisation (90 per cent of the $700 billion retail market is still unorganized).

“The current one-time price point of Rs 50,000 limits the market to Class A/B stores (turnover of Rs 900K+/month).

“We believe that with the RIL’s entry, we could see an increase in merchant adoptability, as the price points will likely come down (RIL’s current one-time deposit is Rs 3,000) and reach should expand,” the research noted.

As a big player, RIL is entering an otherwise scattered market. Some of the key players in the fragmented merchant point-of-sale (MPoS) today are SnapBizz, Nukkad Shops and GoFrugal.

“Overall, we expect RIL to help expand the current 15,000 digitized store base to over 5 million stores by 2023,” said Sachin Salgaonkar and Sukriti Bansal, Research Analysts at DSP Merrill Lynch (India).

In this photograph taken on June 6, 2013 Reliance Industries Chairman Mukesh Ambani poses as he arrives for the company’s annual general meeting in Mumbai. India’s 100 richest people are for the first time all billionaires, according to an annual Forbes survey released September 25, 2014, with the country’s top earners worth a third more combined than last year. Industrialist Mukesh Ambani topped the list for an eighth straight year with a 23.6-billion dollar fortune, Forbes India said on its website. AFP PHOTO/Indranil MUKHERJEE/FILES

For the research, the team met with the SnapBizz management which has over 4,500 devices installed in more than seven cities in India (or over 30 per cent of the digitized store base).

For a one-time payment of Rs 50,000, the merchant gets a PoS device with Snapbizz software, a screen space to display ads and a personal app to interact with users.

On back of these products, the retailers’ revenue is estimated to increase by Rs 8,250 month each, thus recovering the investment in six months.

Also Read- Microsoft Upgrades Edge Browser, Cortana at ‘Build’

“Kirana stores liked the ease of billing/generating GST complaint bills the best. The PoS system provides an option of adding in-built discounts and also push offers to entire customer database via SMS,” the research noted.

Reliance, with a deep footprint in over 10,000 Reliance Retail outlets pan-India, is working on to create the world’s largest online-to-offline new ecommerce platform. (IANS)

Next Story

Reliance Jio Introduces Voice and Video Calling Over Wi-Fi Service

Jio launches voice & video Wifi calling

0
Jio video call
Reliance Jio announced the availability of nation-wide Voice and Video over Wi-Fi service. Pixabay

Taking on Airtel, Reliance Jio on Wednesday announced the availability of nation-wide Voice and Video over Wi-Fi service which will work on any Wi-Fi, anywhere in India and supports over 150 handset models.

The service makes crystal-clear voice and video calls through Wi-Fi at no additional cost.

“To further reinforce its customer-obsession and offer the best products and experience to its consumers, Jio today announced the launch of nation-wide Voice and Video over Wi-Fi service. Jio has been testing this service over the past few months, to provide a robust experience to every customer at launch,” the company said.

Wi-Fi video call
The service makes crystal-clear voice and video calls through Wi-Fi at no additional cost. Pixabay

The key differentiators that come with Jio Wi-Fi Calling are, Jio said, are that customers can use any Wi-Fi network for Jio Wi-Fi-calling and the voice and video calls will seamlessly switch-over between VoLTE and Wi-Fi to provide an enhanced voice/video-calling experience.

“Jio Wi-Fi calling works on the largest ecosystem of handsets. Jio customers can also make Video over Wi-Fi calls And all of this comes at no additional cost!” it said.

On the launch of this service, Jio Director Akash Ambani said: “At Jio, we are constantly innovating to enhance customer experience or solve their problems. At this juncture, when an average Jio consumer uses over 900 minutes of voice calls every month, and at a growing base of consumers, the launch of Jio Wi-Fi Calling will further enhance every Jio consumer’s voice-calling experience, which is already a benchmark for the industry with India’s-first all VoLTE network.”

Also Read- Here We Bring Some Amazing Tips For Moms to Take Care of Their Skin

To enable Jio Wi-Fi Calling, a step-by-step guide has been made available on Jio.com/wificalling and Jio Wi-Fi Calling will be enabled pan-India between January 7 and 16, 2020, it said. (IANS)