In the fast-paced world of retail, traditional kirana stores, the heart and soul of India’s local commerce, are undergoing a remarkable transformation. The term “phygitization” might sound unfamiliar, but it aptly describes the fusion of physical and digital retail strategies, breathing new life into these age-old neighborhood stores. This synergy is revolutionizing the way kiranas operate, enhancing their competitiveness in the digital age, and creating a win-win situation for both retailers and consumers. JioMart is one such e-commerce marketplace who is empowering mom-and-pop stores by organizing them from under their wing and enabling them to reach beyond the local colony market. Sandeep Varaganti, CEO JioMart, Reliance Retail, shares his plan on how they will achieve this remarkable feat in short strides.
4G DREAM: The vast Indian consumer base is a very pertinent reason behind JioMart’s ambition. The consumer base is growing significantly, and about 60-70 percent of the total Indian population will soon own a smartphone with 4G internet. India also has a thriving F&B community with about 70-80 crore of them contributing to about 30 percent of the country’s GDP.
“That’s a significant seller base for any business trying to take in the small and medium businesses. Brands can continue getting themselves enlisted directly on JioMart as sellers. We are using our supply chain and engineering platform to enable and uplift the kiranas,” said Varaganti.
This story is from the September - October 2023 edition of Retailer.
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This story is from the September - October 2023 edition of Retailer.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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