Here's why Mukesh Ambani is excited about offline-to-online commerce (and other top stories of the day)
Last year, Reliance Industries’ Chairman Mukesh Ambani talked about a ‘new commerce’ venture that aims to "completely transform the unorganised retail market", which accounts for 90 percent of India's retail industry.
The Indian retail sector has changed tremendously in the last few years with technological advancements, and new players like ecommerce majors Amazon and Walmart-owned Flipkart entering the sector.
Then, last year, Reliance Industries’ Chairman Mukesh Ambani talked about a ‘new commerce’ venture that aims to "completely transform the unorganised retail market", which accounts for 90 percent of India's retail industry.
Delivering on this promise, Reliance launched JioMart, operated by the retail arm of the conglomerate last week. With JioMart, Reliance is exploring the online-to-offline (O2O) model by creating a system to entice consumers within a digital environment to make purchases of goods and services both from physical businesses or in an online setup.
With the tagline “Desh Ki Nayi Dukaan”, the platform will offer a portfolio of over 50,000 grocery products along with free home delivery against no minimum order value, no questions asked returns, and express delivery facilities.
Rentomojo is clocking more than one lakh live orders a month, and the team is aiming to up that number by 10X in the next 2.5 years. The startup claims to have almost tripled its revenue in FY19 with Rs 110 crore as compared to Rs 37 crore in FY18.
Nagpur-based Shweta Bhattad is creating sculptures and using live performance to showcase the exploitation of Indian farmers while Veer Munshi paintings delve into issues in the Kashmir Valley. Here are five artists leading social change through their work.
In this week’s GGV Podcast, Hans Tung, Managing Partner at GGV Capital, spoke to Vaibhav Gupta, Co-founder of Udaan, about how his time at Flipkart helped him launch Udaan, the unique needs of the burgeoning Indian ecommerce market, and an insider view of scaling a rising unicorn.
Ayushi Podder, star shooter from Sheoraphuli, Kolkata, has won several national and international medals and is proving to be a worthy talent for India, and is the country’s next big hope in the sport.
If 2019 was about mobile gaming, voice-enabled virtual assistants, quad-camera phones, and truly wireless earbuds, 2020 is expected to be about foldable screens, 5G iPhones, gaming laptops, 8K televisions, and penta-camera smartphones.
When multinational brands entered the Indian footwear market in mid-2000s, 50-year-old Lakhani faded into oblivion. But after rigorous research, Mayank Lakhani revamped the traditional footwear business and made it a Rs 105 crore company in just five years, which now has a retail network of 20,000.
Paytm will also put this ‘All-in-One' Paytm QR on various utility items such as calculators, power banks, clocks, pen stands, and radios, which merchants can use in their shop for daily requirements.