Reliance to open thousands of small retail outlets, start looking for land

HIGHLIGHTS: Reliance Retail, a subsidiary of Reliance Industries, the country's richest company, has formulated a new scheme as part of a plan to create an e-commerce sector.

Under this, thousands of small retail outlets will be opened in different cities of the country. The plan is to reach the delivery of goods to the last rung. Actually, Reliance Retail is trying to get hold of the e-commerce sector through online to offline platform. That is why it is planned to open the outlet.

New stores will be known as Reliance Smart Point

According to two people aware of the matter, an ET report said that Reliance plans to open thousands of small retail outlets. These small retail outlets can be named Reliance Smart Point. The report says that the size of these outlets can range from 500 sq ft to 1500 sq ft. The report quoted several real estate agents as saying that Reliance Retail has started looking for land in several cities to open its outlets. Currently, land is being sought to open 500 retail outlets in North India. These 500 retail outlets can be opened in the coming three to four months. Out of this, 100 stores can be opened in Delhi.

Search for low cost places

The report says that Reliance is looking for a low-cost space to open these outlets instead of prime location. These stores will be used to deliver goods purchased online. Reliance has said that it has already opened 18 stores to speed up its online to offline business. These stores have been opened in Navi Mumbai, Thane and Kalyan. It is the younger incarnation of the Smart Point supermarket chain.

Jio Mart has started recently

To boost its e-commerce business, Reliance has recently launched Jio Mart. It has been named the country's new store. Currently, consumers of Navi Mumbai, Thane and Kalyan can shop online and get goods from offline stores through Jio Mart. There are plans to launch Jio Mart soon in other cities, for which small retail outlets are being set up.

Reliance is working on an online-to-offline platform

Reliance has long been working to create the world's largest online-to-offline e-commerce platform. Currently 15,000 grocery stores have been digitized in the country. Reliance will connect customers to grocery stores around them through its high-speed 4G network, so that customers can buy goods from the grocery stores at home. Jio Mart is offering more than 50 thousand grocery products, free home delivery, no Question Assured Return Policy and Express Delivery Promise to its users.

Source: Web