Mukesh Ambani’s Reliance Retail Ltd may launch ‘new commerce’ venture this Diwali, industry officials said to the media. Mukesh Ambani.
New Commerce initiative is Reliance Retails’s offline to online, will link with producers, traders, small merchants, brands and consumers through technology. Reliance Industries Ltd. (RIL), had been working on its new commerce plan for nearly two years. Presently, it operates neighbourhood stores, supermarkets, hypermarkets, wholesale, speciality and online stores.
Reliance Retail is a plan to introduce e-commerce venture in two phases one is soft launch around Diwali, and another one is full-fledged launch by December-January. A Diwali Dhamaka plan can require discounts that other online retailers also offer.
RIL is initially looking at the consumption basket which includes daily staples, soaps, shampoos and other household items, said by officials. In the annual general meeting held on 12 August, Ambani said, Reliance Retail aims to connect as many as 30 million neighbourhood stores through the venture.
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Reliance Retail plans to offer discounts and offers through text messages to customers, to examine the market.