The period of litmus test is here for Indian e-commerce companies. Starting from Dussehra upto the start of the next year; it is believed that retailers in India cover around 40% of their yearly sales in between this phase. Last year, the e-commerce industry was a powerful tide that had the physical store owners down and striving for breath. Last festive season the e-commerce companies clearly outperformed their experienced counterparts. Going by the trend, most people feel that the sales this year will achieve a higher level and the profits will blow off the roof.
Although online sellers are completely drenched in offering the MASSIVE DISCOUNT spree to their customers; there is something new which will get them worried. There are reports that India’s richest person is eyeing to be a part of the online selling business. Mr. Mukesh Ambani– a 58 year business stalwart is gearing up to take the fight head-on to the e-commerce players who are in their 20’s and 30’s. Reliance Retail, the country’s largest brick and mortar retail chain brand is planning to launch their own e-commerce platform. This move is specially to enhance their business in segments like electronics and fashion and is expected to happen around the end of 2015.
officials with the know how suggest that this is an initiative taken up by Reliance Industries (RIL) to develop an online marketplace of their own. However, this is assumed to take place in stages. The news is that the company is planning to revamp the e-commerce service industry as it is about to offer much more than what is on offer at present by the front row companies.
Reliance Jio will help and be helped-
This e-commerce business idea is expected to be an upside as it will have a backup from Reliance Jio, the telecommunication venture of the entity. Many features from the segment such as mobile wallet-Jio Money and the services related to the 4G telecom services will surely be great assistance for the entire online setup.
RIL currently runs an online grocery portal in the retail segment which is operational only within Mumbai. This business is expected to expand to other regions of the nation once the e-commerce platform is launched. Similarly, the brand is also planning a dedicated electronic product selling platform online which will trade the products sold by Reliance Digital.
RIL to start with 1,50,000 vendors and plans to bring brands from UK, US and Singapore along with other countries
Flipkart- India’s biggest e-commerce company in existence since last 8 years has total count of 40,000 vendors and is aiming to add another 60,000 by the end of this year. Snapdeal in operation since 2012 is probably a company with most sellers as it is calming to have 2,00,000 vendors. Amazon India which is youngest player in business (in India since mid-2013) has recorded around 50,000 active sellers. Under the circumstances; Reliance is expected to put in its trademark business practice of “going massive”. If the initial plans are to be trusted, the brand is planning to have around 1,50,000 vendors for its e-commerce platform. This will be a trend setting move if achieved and it will easily clinch the top spot in the online retail business.
Well, it is better online retailers in India give this news a quick thought in between the generous festive discount offers they are throwing at customers.