One of India’s biggest retailer Future Group’s Founder and CEO Kishore Biyani announced the launch of Retail 3.0 business model in India, which will enable customers to place orders using Whatsapp too. “It is a model called Tathaastu. This will help you get anything you want,” Kishore Biyani had said recently. In an interview to ET Now, Kishore Biyani said that he’s exploring technologies that will last for the next three decades. “Technologies which can take us into the future for the next 30 years is what we thought we must do. The new digital world is something which we want to be a part of. We will be taking the help of Google Inc to look at property sourcing only through technology,” he told the channel. Explaining what exactly Retail 3.0 would entail, Kishore Biyani said, “It’s going to be a brick store, you can walk-in to shop, you can whatsapp and shop, you can make a voice-ordering and shop, you can use the app. I think there are various ways.”
In the same conversation, Kishore Biyani explained that each brick and mortar store would have 2,000 members. “Right now you can use these facilities if you’re a member of our easyday stores. Once we get 2,000 members, we close the membership for every store. It a Rs 999 membership, you get a lot of privileges with the membership, you get 10% off on whatever you buy in our store, plus the other privileges. We tailormake discounts for you,” Kishore Biyani told ET Now.
The industrialist also pointed out that e-commerce had proven to be expensive fopr the company. “We have been into the consumption space for a long period of time. We got into e-commerce the same time as Flipkart. Futurebazaar didn’t work, we had to close down. Getting into e-commerce, we realised that it was very expensive in terms of doing business,” said Kishore Biyani.
Just last week, Jack Ma, the founder of Alibaba had called for greater collaboration between online and offline retailers. Speaking to CGTN (China Global Television Network), Jack Ma of Alibaba Group said, “Business of traditional retailers will collapse if they operate without technologies and data.” the reputed billionaire industrialist also spoke about the concept of ‘New
Retail.’ “Online and offline retailers should work together, for common development, to help offline retailers to become new retailers. New retail will include new technologies, innovation and reform. Business of traditional retailers will not work if they operate without technologies and data,” Jack Ma said in the same interview.