Mukesh Ambani backed Reliance Industries is gearing up from last one year to launch online-to-offline (O2O) retail plans that will include providing over 100 services in one application.
Reliance is now planning to launch Super App just similar like Tencent-owned WeChat model, Reliance main goal to launch ‘Super App’ as soon as possible that will allow its users to order goods and services on its platform and pay bills using its in-app payment services.
The company is planning to develop a hybrid ecosystem, where its customers would be enabled to buy online as well as shop offline. It plans to leverage its 300 million plus new mobile phone users.
A Super App will help Jio users in all their digital commerce requirement, said Business Standard report quoting a source close to the development.
RIL is looking to replicate the same business model in India what Wechat has done in China. However, in India, several marketplaces and wallet firms in the past have tried to replicate the WeChat model. But none of them has successfully been able to do it.
Whether it was Snapdeal or Flipkart or Paytm or Hike, they all reportedly wanted to create WeChat-clone in India, but were unable to attract the customers and failed completely so they decided to opt out from this idea.
Somehow experts are forecasting that Ambani backed e-commerce firm has the strength and capabilities to replicate Wechat model in India successfully.
The company has all the products, supply chains, tech team, internet user base, and logistics capability to back it up to its plan. And every day it has been inching closer to realize its dream to be a one-stop solution for everything.
Early this month, Reliance decided to withdraw all its products such as clothes, shoes including fashion and lifestyle products from the global giant and rival marketplaces like Amazon and Flipkart. The move was seen a strategic decision and is believed that Reliance goal is to create exclusivity for its brands and launch of O2O platform.
The firm plans to generate half of the group’s revenue from the consumer businesses in the 10 years. Currently, about 80 % of the group’s sales and revenues come from its traditional oil and gas business.
Reliance is also looking for backward integration and recently has been in touch with kiranas stores and consumer brands to create an strategic business model for the same. To develop a strong foothold in e-commerce industry, Reliance recently acquired Haptik and Fynd.
In July 2018, Mukesh Ambani made a official announcement at its Annual General Meeting that Reliance Retail and Jio Infocomm will jointly launch a new e commerce platform, and the e-commerce industry expects major disruption in the coming months.
Global e-commerce giant Amazon recently reported that they are also looking to launch a super app, which enables end-to-end fulfillment for customers ranging from ticketing services to food delivery.