Mukesh Ambani, the country’s richest person, has made a new plan to challenge Alibaba and Amazon, the world’s two largest e-commerce companies. Ambani’s company Reliance Industries Limited (RIL) is preparing the country’s grocery stores for e-commerce. According to the report of Bank of America Merrill Lynch (BofAML), Reliance will bring 50 lakh grocery stores to the online platform by 2023. According to the report, grocery store owner of the country wants to upgrade their merchant point-of-sale (MpoS). This allows them to moderate their business. 90% market of the country’s ($ 700 billion) retail market of Rs 48.7 lakh crore is still unorganized.
For this, Reliance is preparing to set up a Jio Point-of-Sale device at grocery stores. This device will be cheaper many times from other companies’ point-of-sale devices. The grocery store owner has to make a one-time investment of only Rs. 3000. At present, 15,000 grocery stores have been digitized in the country. The report says that with 10,000 retail outlets across the country, Reliance is working to create the world’s largest online-to-offline e-commerce platform. Reliance will connect customers with their high-speed 4G network to grocery stores near them so that customers can get the goods from the grocery store sitting at home.
Currently, for registering themselves on the e-commerce platform, traders have to make one-time-investment of 30 thousand rupees to one lakh rupees. SnapBizz Company charges 50 thousand rupees at one time to install this POS machine. One-time-investment of Nukkad Shops is from Rs. 30 thousand to 55 thousand rupees. GoFrugal charges from Rs 15 thousand to Rs one lakh. Because of this, only those grocery stores are registered for e-commerce whose turnover of the month is 9 lakh rupees. A one-time deposit of RIL device’s device is only Rs. 3000. In such a situation, more and more traders will be ready to register themselves on e-commerce through Jio Pos machine.
To digitize stores, a point-of-sale (PoS) device is required. This can be a swipe machine or any other device through which payment can be made. Companies that provide these PoS devices in grocery stores present in small towns, villages, and towns of the country include SnapBizz, Nukkad Shops, and GoFrugal. SnapBizz has installed 4,500 devices in more than 7 cities across the country. This figure is 30 percent of the country’s total digitized grocery store.