If we get what the little birdy says, India will soon have its very own Amazon or eBay, as Reliance Retail aims to foray in to e-commerce within six to eight months of time. The e-retail business is likely to be based on marketplace model.
In the recent quarterly results, the retailer had cleared that it will be adopting multi channels to retail. Ofcourse, e-retail becomes one of the multi channels.
Currently, Reliance Retail operates through over 1,500 stores, including hypermarkets, digital stores, jewellery outlets and apparel stores. These stores are spread across 136 cities in the country. It has also recently emerged as India’s largest retail conglomerate, as the quarter ended September, the company’s sales jumped 31 per cent from a year ago to Rs 3,456 crore.
The question is, are we really set for another organised multi-brand retailer to enter the e-retail space? Well ofcourse, India still only has fingertip count of well organised and big domestic e-retail players. This area is more dominated by niche and startup e-retailers. There is a room for more, and interestingly, a best call for well-established players, as trust among consumers is already created. Moreover, the existing stores helps them create visibility among consumers of their e-retail stores.
- Reliance Retail To Enter E-Commerce in 6-8 Months, Will it Work? (nextbigwhat.com)
- Reliance MF retail debt assets grow 144% to Rs 19k cr (moneycontrol.com)
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