Business Mantra News
MukeshAmbani has chalked out a plan to enter E-commerce Business, under the business module by clubbing off-line and online shopping business.
The plan is being figured out using the same module being practised by Chinese E-commerce Giant Alibaba.
In this business module two retail business arms of Reliance Industries Limited- Reliance JioInfocomm Limited and Reliance Retail Limited shall enter into joint venture for this purpose.
Company thus plans to generate 50% of the revenue from the E-commerce business in the next 10 years. It is very significant to mention here that at present 80% of the revenue is being generated by Oil & Natural Gas Business.
As more and more people from even the smaller cities have started taking interest in online as well as offline business, Reliance Group is planning to encash this situation.
It is the usual practice that under O2O(Online to offline) model people search products required by them online but purchase the same offline. Ambani’s plan is strengthen the channel of merchants who would be associated with the E-commerce business. The merchants shall follow to tap such markets where products could not reach.
In this process the company shall pass on the orders to the local merchants, who in-turn shall supply the ordered items well in time.
At present, the company has almost 4000 Jio outlets, 4000 retail outlets and has almost 50 warehouses and with the passage of time shall be increased to 10000. These outlets shall help in promoting the E-commerce business of the company