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Reliance Industries entry in online retailing will digitise 5 million kirana stores

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Mukesh Ambani, Richest Indian, Reliance Industries, Online retail shop, Retail stores, Bank of America, Kirana stores, Groceries, Sundries, Business news

New Delhi: Richest Indian Mukesh Ambani-led Reliance Industries’ entry into online retailing will help expand the current 15,000 digitised retail stores to over 5 million by 2023, a study of Bank of America Merrill Lynch said.

As much as 90 per cent of India’s USD 700 billion retail market is unorganised, made up mostly of neighbourhood kirana stores selling groceries and other sundries.

These kirana stores are keen to upgrade their tech and this is driving a wave of modernization, the study said.

“This is on the back of growing competition from modern trade and e-commerce,” it said. “GST implementation has also acted as a catalyst, creating further modernization pressure as GST compliant bills have to be generated.”

Reliance, with a deep footprint in over 10,000 Reliance Retail outlets pan-India, is working to create the world’s largest online-to-offline e-commerce platform in the country.

 

Mukesh Ambani, Richest Indian, Reliance Industries, Online retail shop, Retail stores, Bank of America, Kirana stores, Groceries, Sundries, Business news

 

Reliance is looking at installing its Jio MPoS (mobile point-of-sale) device at kirana stores to connect neighbourhood suppliers to its high-speed 4G network that can be used by its customers to order supplies.

It will take on SnapBizz, Nukkad Shops and GoFrugal in this fragmented MPoS space. While Jio MPoS is available at a one-time investment of Rs 3,000, SnapBiz offers the same machine at a one-time cost of Rs 50,000, the report said.

One-time charge on Nukkad Shops is Rs 30,000 to Rs 55,000 while GoFrugal offers POS software at a one-time investment of Rs 15,000 to Rs 1 lakh.

Jio MPoS has no merchant discount rate (MDR) on any charge and offers a loyalty programme, it said, adding its monetization strategy include merchandise delivery, advertising and supply-side aggregation.

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

 

Reliance entry into online retailing will extend retail stores to 5million by 2023:

 

“Consolidation is also a possibility; as a big player, RIL is entering an otherwise scattered market. Overall, we expect RIL to help expand the current 15,000 digitized store base to 5 million-plus stores by 2023,” it said.

The brokerage said it met with SnapBizz management at their office in Bengaluru. It has 4,500-plus devices installed over seven cities in India or over 30 per cent of the digitised store base.

“The Merchant PoS by SnapBizz is a point of sale platform where merchants can keep a digital record of their inventory, generate GST compliant bills and keep a track of consumer’s buying patterns, in addition to making payments,” the report said.

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.

SnapBizz is working with Israeli start-up Stampee to design targeted couponing/promotions for customers.

 

Mukesh Ambani, Richest Indian, Reliance Industries, Online retail shop, Retail stores, Bank of America, Kirana stores, Groceries, Sundries, Business news

 

SnapBizz has a contractual agreement with retailers to share aggregate level data with third parties; however personal consumer data is not shared, it said.

The brokerage said it visited 15 stores in Mumbai and Navi-Mumbai to get feedback on general MPoS.

“Most retailers we visited were happy with the merchant PoS and believe the return on investment is good,” the report said. “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 the entire customer database via SMS.”

Majority of shops visited are not synching inventory in PoS and mainly are using it as a billing device.

Kiranas either found it difficult to enter new inventory items or were reluctant to enter with a fear of sharing data to POS firms.

 

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Every person working in this company earns 50 lakh rupees annually

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In today’s time, every person wants to get good income for whatever work he does. May that life be a life of comfort. Have fun and stay entertained.

* Every person’s annual income is Rs 50 lakhs

But do you know that there is also a company where every person working on it has an annual income of Rs 50 lakhs. Yes you heard it right This is a company where the boss of this company reduced his income and raised his income to Rs 50 lakh per annum for every man working in his company.

* The gambling he played five years ago was beneficial

It was in 2015 when the boss of a card payments company in the Australian city of Seattle set a minimum salary of 70 thousand dollars, or about 50 lakh rupees, for his 120 employees. To do this, the company’s boss had reduced his income from one million dollars, or about seven crores. It has been five years now and this man is still taking a low salary. The man named Dan Price says that the gambling he played five years ago was beneficial.

* Valerie tells him how his life has remained

Actually Dan was taking a trip to the mountains near Seattle with his friend Valerie. Then his friend told such a thing that he got upset. On the go, Valerie tells him how his life has remained a pang. His landlord has increased the rent by $ 200 and is not able to meet the daily expenses.

* How much contrast in the world

Price says, “She is such that service, respect and hard work define her personality.” Valerie was earning 40 thousand dollars, or about 29 lakh rupees every year, but she could not get a house of her own in Seattle. She was Price was unhappy at how odd the world was. Suddenly he realized that he himself is part of the same problem. Price became a millionaire at the age of 31. His company Gravity Payments has around 2000 customers and is valued at millions of dollars. He created this company when he was a teenager.

* Decided to change the situation

Price was earning $ 1.1 million (about eight crore rupees) a year, but his friend Valerie realized that his staff would also be struggling. He decided to change these circumstances. Dan Price is very positive and polite, but he is one of the most powerful voices in the United States to rise against inequality.

* Society, greed in its culture

He says, “People are struggling with hunger, being fired from jobs or facing exploitation. Just so that one can find a luxurious apartment in a high tower in New York, where he can rest on a sleeping chair. We are promoting greed in our society, our culture.

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