Reliance Industries Limited (RIL) is getting all prepped up to reopen its entire 1,400 petrol pumps by the end of this fiscal.
RIL issued a presentation on the company’s corporate results for the financial year ended March 31, 2015, that stated that it has already opened 320 of its petrol and diesel pumps subsequent to the complete deregulation of transport fuels.
In March 2008, RIL had shut down its entire its 1,432 petrol pumps due to the huge losses in keeping up with the public sector firms, which sold fuel at prices way lower than their cost as they enjoyed government subsidies.
It was in June 2010 that the government decided not to provide any more subsidies, which deregulated petrol pricing. In addition, diesel was also deregulated in October 2014. It motivated the private retailers to again enter the market.
RIL stated that they will launch customized loyalty programme for different customer segments, along with, “Fleet management programme providing better fleet control, cash flow management and cashless transactions.”
The disruption caused by the COVID-19 pandemic will entail a drastic reimagining of business models in going forward says a new book on the subject that proposes frameworks with Design Thinking as the backbone for creating win-win situations.
“Today, more than ever, there is a strong need for re-imagining the way business needs to be conducted through deep empathy and exploring win-win situations for all stakeholders involved,” writes Kaustubh Dhargalkar, an entrepreneur-turned-academician, innovation evangelist and start-up mentor, in “It’s Logical: Innovating Profitable Business Models” published by Sage and which is available as an ebook on Amazon.
To this end, the book proposes “frameworks (with Design Thinking as the backbone) for creating win-win situations to visualize sustainable business models in times to come, which should prove useful in the prevailing, unprecedented circumstances”.
Laced with multiple real life studies, the book advocates that innovation is not about flash in the pan ideas; it is driven by pure logic. It further explains how to map the ecosystem to understand synergies for creating innovative offerings.
In his foreword, Sudhakar Nadkarni (Founder, Industrial Design Centre at IIT-Bombay; Founder, Department of Design at IIT-Guwahati) writes: “It takes great effort and a long time to develop an innovative culture. Innovation, as is often said, does not fall from the heavens. It takes vision and a strong commitment to the objective.”
Noting that he has “some reservations” about the “fashion” that innovation centres have become, Nadkarni says: One cannot innovate in the absence of an ecosystem that drives innovation. This book, supported by deep research and many case studies, shows that it is possible to come up with an innovative business model that does not stick to conventional paradigms.”
Drawing an analogy with cricket, Nadkarni says that creating a good business model involves “searching for gaps, angling the bat and caressing the ball in the desired direction. It requires a creative yet trained mind. This book tells you exactly how to spot those gaps in the field and train your creative muscle.” (IANS)
Not too long ago, NASDAQ predicted that by the year 2040, as much as 95% of shopping will be facilitated by ecommerce. Similarly, Shopify Plus estimates that by the year 2021, worldwide retail ecommerce sales will reach $4.9 trillion – a number that will now be amplified as a result of the recent events. The world of e-commerce is growing fast and businesses need to catch up.
For good or for bad, the COVID-19 pandemic and the subsequent lockdowns have left businesses little choice but to go digital. Gone are the days when goliaths like Walmart would build ecommerce apps just to indulge a handful of customers. Today, it is either go digital or go home. So, for all businesses looking for an ecommerce mobile app builder, Studio Store could be an interesting option.
Launched recently by Builder.ai with the goal of helping businesses directly impacted by COVID-19, Studio Store is a new range of pre-packaged apps – beginning with e-commerce and delivery – designed to bring businesses online faster and at a fraction of the cost of building from scratch. With Studio Store, Builder.ai is furthering its mission to democratize the software market by offering pre-built software for a fraction of the price, giving more companies than ever the opportunity to use technology to grow their business.
So, if you’ve been wondering how to build an ecommerce app, then here are the key problems Studio Store solves with features that are most noteworthy:
Most apps take 6-9 months to develop, depending on the complexity.
Unlike most ecommerce app builders, Studio Store ecommerce app by Builder.ai will serve the specific needs of businesses across e-commerce – such as flower shops, grocery stores and clothiers – and be delivered to customers in eight weeks.
Most app development journeys are complicated and take months of back and forth to just nail down basic feature sets.
The Studio Store’s e-commerce app makes selling to an ever-mobile customer effortless, and retailers can showcase their goods with a scrollable carousel and offer a wide range of secure payment methods. The app includes features that will handle the soup to nuts of most e-commerce experiences.
For most ecommerce app builders, their job ends as soon as an app is handed over to the customer, with little to no customer service after.
Studio Store by Builder.ai offers 3 months of free aftercare that keeps the app thriving and the cloud needed to run the app and scale the business.
App developers charge hefty down payments even before a project begins.
Studio Store is priced at a reasonable $500 per month and Builder.ai does not take any cut of sales or transaction fees (so you’ll only pay those charged directly by a payment gateway). Builder.ai only requires a one-month deposit at the beginning of the engagement.
With SaaS app builders, each customer gets complete ownership of their code.
The biggest drawback of SaaS applications is that the source code remains the same for all customers. In cases where new features are rolled out, they’re rolled out universally. But with Studio Store, the customer gets a copy of the code after 24 months.
All in all, if you are looking to build an ecommerce app online, then Builder.ai could be the best choice. You can check out the Studio Store for yourself by clicking here.
[Disclaimer: The article published above promotes links of commercial interests.]
Amidst the biggest pandemic the world has ever experienced in a century, there is a looming global economic crisis that is waiting to struck at its strongest anytime in the near future – as a matter of fact, some parts of the world are actually experiencing its initial impact right this very moment.
The first blow will be felt by various businsses great or small. Many enterprises are closing down or at the verge of it. All have been caught off guard. As a business owner, you might be thinking hard and long these past few days on how will your enterprise survive this critical economic situation. Besides making ends meet and cutting some costs, here are some of the ways to help you make your business withstand this impending global crisis.
Build and maintain an online store
Creating an online ecommerce shop may perhaps seem like a challenge, especially if you are not really used to using the internet for your enterprise. But it is becoming a business trend as most places are under quarantine and social distancing is also being practiced. With that, many potential consumers are going online to purchase most necessities. This is why a store website is important nowadays.
Creating an ecommerce site is easy. Just make a good hook for a domain name, find a reliable web hosting provider and design your site. However, make sure to plan out how you will maintain it in the long run.
Learn how to maximise social media
It is true that it’s easy to reach people through social media. Regardless of age group, most are engaging on various platforms like Facebook, Instagram, Twitter and more. But it is not enough to just create a page for your business and post stuff whenever you want or worse, whenever you remember. In order to take advantage of your social media reach, you have to observe your market well and plan out engaging posts to hook them. It is also advisable to align your website content to your social media post schedules in order for your followers to be familiar with your site and also share your contents if interest them or it is relevant.
Strengthen your customer support
Customer service is somewhat neglected at times on enterprises. But it is actually a very significant area in any business.
Quick response time in answering messages and comments on social media is one of the best ways, as well as responding to queries and feedback via email or through your website.
Make payment process easier but more secured
Find means to make it easier and safer for your customers to transact payments with you. Security is everything nowadays.