Reliance to digitise 5 million kirana stores by 2023
5 years, 7 months ago

Reliance to digitise 5 million kirana stores by 2023

India TV News  

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. Overall, we expect RIL to help expand the current 15,000 digitized store base to 5 million-plus stores by 2023," it said. "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.

India Stores Reliance Merchant Kirana Pos Kirana Stores Snapbizz Mpos Jio Mpos  mpos  reliance  stores  2023  gst  million  pos  rs  kirana  digitise  onetime  offers  merchant  snapbizz

History of this topic

Quick commerce is rocketing. So, are kiranas on the way out?
6 days, 18 hours ago

Quick commerce is rocketing. So, are kiranas on the way out?

Live Mint  

New Delhi: In little more than a couple of years, quick commerce has turned into the great hope of India’s startup landscape. As of 2023-24, according to data compiled by the National Sample Survey, there were around 22.8 million ‘unincorporated’ establishments conducting some sort of trade. Quick economics Ultimately, the ‘decline’ of kiranas may have come about from a combination …

FRAI Urges Govt To Provide Enhanced Tech Platforms To Kirana Stores To Help Them Compete With Quick Commerce
2 weeks ago

FRAI Urges Govt To Provide Enhanced Tech Platforms To Kirana Stores To Help Them Compete With Quick Commerce

ABP News  

The Federation of Retailer Association of India on Tuesday called on the authorities to provide advanced technology to Kirana stores. “Such support would enable the kirana stores to remain competitive amidst the increasing encroachment into their space by quick commerce companies like Swiggy Instamart, Blinkit or Zepto,” the FRAI said. Abhaj Raj Mishra, Honorary Spokesperson, FRAI, said, “With new technologies …

Zepto Eyes IPO By 2025 After $350 Mn Funding, Aiming For PAT Positive Next Year
1 month ago

Zepto Eyes IPO By 2025 After $350 Mn Funding, Aiming For PAT Positive Next Year

ABP News  

Quick commerce company Zepto, buoyed by a fresh $350 million funding round from marquee domestic investors, is steering towards becoming a fully Indian-owned entity and achieving profitability by FY26, according to co-founder and CEO Aadit Palicha. In an interview to PTI, Palicha countered criticisms that the quick commerce model undermines traditional kirana stores, labeling such claims as "data-free narratives" that …

Zepto’s Aadit Palicha says quick commerce has not hurt kirana stores: ’Will create more jobs than Railways in 2-3 years’
1 month, 2 weeks ago

Zepto’s Aadit Palicha says quick commerce has not hurt kirana stores: ’Will create more jobs than Railways in 2-3 years’

Live Mint  

Zepto founder Aadith Palicha has claimed that quick commerce platforms have not hurt traditional kirana stores and that the industry has created jobs in the economy. Palicha said in an interview with Moneycontrol that the idea of traditional kirana stores being impacted by quick commerce brands such as Zepto, Blinkit, BigBasket, and Instamart was false. “Their own data shows that …

Quick commerce doesn't hurt kirana stores, creates more jobs than Indian Railways, Zepto founder Aadit Palicha says
1 month, 2 weeks ago

Quick commerce doesn't hurt kirana stores, creates more jobs than Indian Railways, Zepto founder Aadit Palicha says

Hindustan Times  

Zepto co-founder Aadit Palicha said quick commerce doesn't hurt traditional kirana stores and that it is a net job creator as well. Zepto delivery partners waiting for delivery orders in Mumbai on June 10, 2023 Palicha dismissed the whole idea of kirana stores being affected by the rise of quick commerce firms like Zepto, Blinkit, Instamart, and BigBasket, calling it …

Quick-Commerce’s Predatory Pricing Affecting Kirana Stores: CAIT
1 month, 3 weeks ago

Quick-Commerce’s Predatory Pricing Affecting Kirana Stores: CAIT

Deccan Chronicle  

Chennai: The fast-growing quick-commerce players have raised over Rs 54,000 crore as FDI and they are using a major share of the money to offer discounts and predatory pricing, which in turn is affecting the business of Kirana shops, alleges an industry body. This predatory pricing pulls customers away from Kirana shops, crippling their ability to compete,” a white paper …

RIL AGM 2024: Reliance Retail Among Top-5 Global Retailers In Store Numbers, Mukesh Ambani Shares 6 Pillars
4 months, 1 week ago

RIL AGM 2024: Reliance Retail Among Top-5 Global Retailers In Store Numbers, Mukesh Ambani Shares 6 Pillars

News 18  

Reliance AGM 2024 Live: Reliance Industries chairman Mukesh Ambani on Thursday announced that Reliance Retail is among the top 5 global retailers in terms of number of stores. During the year, Reliance Retail undertook an equity fund raise of ₹17,814 crore, achieving a valuation milestone of USD 100 billion. Mukesh Ambani shared six pillars of retail business; “First, the retail …

What keeps the kirana store alive?: An essay by Ambi Parameswaran
11 months, 1 week ago

What keeps the kirana store alive?: An essay by Ambi Parameswaran

Hindustan Times  

A friend who was national sales director at a large FMCG / consumer goods multi-national company narrated this story to me almost 15 years ago. The next day, in the boardroom, the global CEO posed a question to his India team: “What is the current contribution of modern trade to our sales? In his book It Happened in India, India’s …

RJio spin-off or IPO expected within five years: Jefferies
1 year, 4 months ago

RJio spin-off or IPO expected within five years: Jefferies

Live Mint  

New Delhi: Brokerage house Jefferies expects Reliance Jio to be spun off or listed within the next four to five years, on the lines of Reliance Retail, even as the group creates a new energy business and repositions the telecom subsidiary as a technology company. Chairman will create the new energy business, and we expect him to likely spin off/IPO …

Reliance Consumer Products to take home and personal care brands to mom-and-pop stores
1 year, 9 months ago

Reliance Consumer Products to take home and personal care brands to mom-and-pop stores

Live Mint  

After making a splash in the market with the re-launch of beverage brand Campa—Reliance Consumer Products Limited, the FMCG arm of Reliance Retail Ventures Limited is set to further expand its packaged consumer consumer goods portfolio to mom-and-pop stores with the launch of home and personal care products. The home and personal care portfolio includes brands such as Glimmer beauty …

Digitising Indian retail: Looking at challenges and exploring growth models
3 years, 5 months ago

Digitising Indian retail: Looking at challenges and exploring growth models

Hindustan Times  

According to the United Nations Conference on Trade and Development’s B2C E-commerce Index 2019, India ranks 73 out of 152 countries on its readiness to support online shopping.1 India leads among South Asian countries, while Asian states like Iran, China, Kazakhstan, Azerbaijan, Vietnam and Tunisia fare better than it on the index. Nevertheless, India’s domestic e-commerce market is expected to …

RIL AGM 2020 Revisited: Reliance Jio Made In India 5G Push And Affordable 5G Phone With Google
3 years, 6 months ago

RIL AGM 2020 Revisited: Reliance Jio Made In India 5G Push And Affordable 5G Phone With Google

News 18  

As we fast approach the 44th annual general meeting of Reliance Industries on June 24, there may be a lot at stake on many fronts, as the push for setting the benchmarks is well and truly under way. These would include the made in India push for 5G mobile networks and the investment by Google which also has Reliance Jio …

Abu Dhabi's Sovereign Fund ADIA to Invest Rs 5,512.5 Crore in Reliance Retail for 1.2% Stake
4 years, 3 months ago

Abu Dhabi's Sovereign Fund ADIA to Invest Rs 5,512.5 Crore in Reliance Retail for 1.2% Stake

News 18  

Reliance Retail Ventures Ltd, run by India’s richest man Mukesh Ambani, on Monday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority, taking the total fundraise to Rs 37,710 crore in less than four weeks. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.285 lakh crore. Reliance Retail Ltd, a …

Reliance Raises Rs 7,350 Crore from New Investments by Global Firms GIC, TPG in Retail Arm
4 years, 3 months ago

Reliance Raises Rs 7,350 Crore from New Investments by Global Firms GIC, TPG in Retail Arm

News 18  

New Delhi: Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced to raise Rs 7,350 crore from two investors — Singapore's sovereign wealth fund GIC and Global alternative asset firm TPG — by selling a stake in group's retail arm. Through two separate deals, Reliance Industries will sell 1.63 per cent stake in Reliance Retail Ventures Limited. Earlier, On Thursday, …

The reality behind Reliance’s retail rush
4 years, 3 months ago

The reality behind Reliance’s retail rush

Live Mint  

Last month, Nimit Jain, an entrepreneur, ordered biscuits, shampoo, toothpaste and other items for his family in Kota. But Mint learns that Reliance is sourcing a majority of orders on JioMart in many cities through Reliance Retail’s supply chain; only a small number of orders are served through kirana stores. People familiar with Reliance’s plans said that the company wants …

After Jio, Reliance Retail is on investors’ shopping list
4 years, 3 months ago

After Jio, Reliance Retail is on investors’ shopping list

Live Mint  

Reliance Retail Ventures Ltd, which raised $1 billion from Silver Lake Partners on Wednesday, is set to draw additional investments worth $5 billion from KKR and Co., Mubadala Investment Co. and Abu Dhabi Investment Authority, two people directly aware of the negotiations said. California-based private equity fund Silver Lake, an investor in Reliance Industries Ltd’s Jio Platforms unit, picked up …

Kiranas steal a march over large stores
4 years, 5 months ago

Kiranas steal a march over large stores

Live Mint  

Shoppers of fast-moving consumer goods moved away from large department stores to obliging neighbourhood kiranas and online sellers in June, as they stuck to social distancing norms in the first phase of the Indian unlock. However, as India moved to unlock in early June, footfalls and sales in large stores dwindled—consumers clearly opted back for their traditional neighbourhood suppliers. In …

RIL’s JioMart to convert kirana stores into self-service stores
4 years, 5 months ago

RIL’s JioMart to convert kirana stores into self-service stores

Live Mint  

Reliance Industries in its 43rd Annual General Meeting has announced that itse-commerce portal JioMart will offer kirana stores for greater demand generation from taking the store online and leveraging the existing Jio customer base. The partnership with JioMart can potentially help kirana stores grow business and earnings," Isha Ambani said at the AGM. Isha Ambani further added, "A unique solution …

But where are the kirana stores? JioMart launches in 200 cities without them
4 years, 7 months ago

But where are the kirana stores? JioMart launches in 200 cities without them

Deccan Chronicle  

Weeks after Mukesh Ambani signed a deal between JioMart and Facebook, the self-declared kirana store aggregator has launched its services in 200 cities, including small cities such as Bhatinda, Mysuru and Dehradun, but without taking the neighbourhood stores on board. Currently, grocery orders placed on the JioMart website are serviced by Reliance Smart and Fresh stores and Reliance Retail’s Sahakari …

40 per cent spike in consumer spend at kirana stores during lockdown
4 years, 8 months ago

40 per cent spike in consumer spend at kirana stores during lockdown

New Indian Express  

NEW DELHI: Consumer expenditure for essential goods at kirana stores has increased by around 40 per cent since the announcement of the nationwide lockdown, a report by SnapBizz said on Tuesday. The study also found a decline in the number of kirana stores operating ever since the lockdown took effect for various reasons. The study analysed over 17 lakh consumer …

‘We help transform kirana shops into convenience stores’
5 years, 2 months ago

‘We help transform kirana shops into convenience stores’

Live Mint  

—Karthik Venkateswaran, co-founder and CEO, Jumbotail We serve thousands of kirana stores and make it convenient for them to procure a wide selection of staples and fast moving consumer goods, reliably delivered to storefronts using our in-house supply chain and logistics. Entrepreneurs who planned to set up new kirana stores wanted us to bootstrap their entire product selection from the …

RIL’s ’new commerce’ to revolutionise 3 crore kirana stores: Mukesh Ambani
5 years, 4 months ago

RIL’s ’new commerce’ to revolutionise 3 crore kirana stores: Mukesh Ambani

Live Mint  

Reliance Industries is working towards empowering the 3 crore merchants and kirana shop owners with its end-to-end digital and physical distribution stack new commerce, its chairman Mukesh Ambani said today. Speaking to shareholders at RIL's 42nd Annual General Meeting, Mukesh Ambani said the company's retail arm will soon unveil Reliance 'new commerce'. "I believe that the small must not only …

From task force on J&K, Ladakh to Jio Fiber: Highlights from Mukesh Ambani's RIL AGM address
5 years, 4 months ago

From task force on J&K, Ladakh to Jio Fiber: Highlights from Mukesh Ambani's RIL AGM address

India TV News  

Reliance Industries Chairman and MD, Mukesh Ambani on Monday announced that Saudi Aramco will invest for a 20 per cent stake in RIL's O2C division. RIL will create a special task force for developmental activities in J&K and Ladakh, Mukesh Ambani said at the RIL AGM. - Reliance Jio to provide a bundle of connectivity and essential business productivity and …

Reliance Retail eyes consumer-focused retail businesses, plans to focus on last-mile delivery
5 years, 7 months ago

Reliance Retail eyes consumer-focused retail businesses, plans to focus on last-mile delivery

Firstpost  

While most retailers are trying to bank on an omnichannel strategy, Reliance Retail is working on a unique Offline to Online model Reliance Retail is eying the huge potential in consumer-focused retail businesses in India. In this backdrop, the entry of deep-pocketed Reliance Retail may well stiffen competition and compress margins across the board. While most retailers are trying to …

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