Keeping in tune with the times, Reliance Retail is planning a big push in the e-commerce segment this year through a rollout of online stores for fashion and lifestyle, grocery and business-to-business verticals.
With an eye on Internet infrastructure of group firm Reliance Jio, the company is keen on creating “a differentiated e-commerce model” for India. In modern retail, the company is looking to scale up its presence to over 900 cities from the current 200 across formats by the next year.
“Reliance Retail this year will be embarking on its next phase of building a high-growth trajectory supported with e-commerce and larger geographic coverage,” Reliance Industries chairman Mukesh Ambani said while addressing shareholders at the company’s 41st AGM.
With plans to tap consumers as they “embrace technology and get access to anytime anywhere shopping”, Ambani said:
“With the advanced Internet infrastructure built by Jio and a robust physical retail business built by Reliance Retail, we will create a differentiated e-commerce model for India”. He added that the model will enable seamless integration of online and offline while “innovating across superior customer experience, delivery services and payment ecosystem”.
Elaborating, Ambani said: “Before the end of year, the fashion and lifestyle formats of will roll out its e-commerce initiative and make fashion more trendy and accessible to the aspiring Indian youth”.
On expansion of physical stores of Reliance Retail, he said: “We are committed to scaling up our retail presence across formats from 200 cities to over 900 cities by next year so that the benefits of organised retail are realised by a wider cross-section of Indian consumers”.
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