India’s largest retailer, Reliance Retail, is seeking to aid small retailers with its latest move. Reliance Retail is launching an exclusive online B2B platform built to enable better payments capability and supply chain productivity, said Business Standard in a recent report.
“We are rolling out the Reliance Digital Marketplace platform to enable millions of small retailers and provide them with an enhanced supplier base and product range, better supply chain productivity, digital payment capability, connectivity to customers and credit capability,” said Reliance Chairman Mukesh Ambani at the company’s 41st general meeting.
Upon launch of the platform, the company expects to see a 30 to 50 percent year-over-year growth, which will combine the company’s physical and eCommerce retail business.
“We are committed to growing Reliance Retail and making it a significant part of our consumer business to generate societal and shareholder value,” Ambani said in his speech, according to a transcript from DNA.
Reliance Market is a Walmart-style, cash and carry retail division of the company that caters to the needs of business-to-business customers, ranging from small sized privately owned grocery stores to hotels, restaurants and offices. Reliance Market saw growth in numbers and is now serving over 1.5 million small sized merchants.
The company, Ambani said, also plans to launch its fashion and lifestyle stores on an eCommerce platform by the end of 2015.
With an addition of 930 new stores to its chain, Reliance Retail stands with 2,600 stores spread across 200 Indian cities in 20 states — marking a global benchmark in terms of the largest number of store openings in an year, he said.
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