The e-commerce giants, Amazon and Flipkart are going nuts on the news that Mukesh Ambani, our JIO-Man has yet another idea of piercing deep in the e-commerce business. Its alleged competitors like Amazon and Flipkart are fearsome to lose their market because of the invasion, of Mukesh Ambani into the e-commerce business.
The Trump Card
When JIO emerged in the market, it made the other companies lose their shares in the market and even made some companies go bankrupt, with its tactics of free internet and voice calling.
‘Free’ is the word that attracts the people of India, the most. This trump card has been played by the Reliance family since times immemorial. So, the result being, JIO gaining 280 million subscribers in just about a period of 2 years, which is mind-boggling, to say the least.
The sense of Déjà-vu
Mukesh Ambani is all set to repeat his own history, by entering into the e-commerce field, as it did in the telecom industry when he entered with JIO and conquered the entire Indian market, redefining the use of smartphones, internet and voice calling.
Mukesh Ambani will be launching a new e-commerce platform, which is timed around Diwali, to redefine retail in India, by enabling all the customers, from rich to poor or from home to mobile phone users, to make a transition from simple shopping to a personalized and immersive shopping experience. This is the time when the e-commerce platforms clock up to 30 percent of their annual sales.
The definition of Re-defining
• Shopping will be made easy through Augmented reality, holographic technology, and VR devices.
• The digital tools will predict and anticipate the needs of shoppers.
• On the hind-side, people can also expect a big discount offers this Diwali.
The key Contributors
1. JIO Gigafiber: It will bring the entire marketplace to large screens powered by high screen broadband at home, as exclaimed by Mukesh Ambani himself.
2. Reliance Retail: The most important leverage is the Reliance Retail’s deep insights into Indian customers, large local presence and best and class supply chain, which will help them to anticipate the needs and wants of the customers.
The Road Ahead
Reliance is planning to invest in best data analytics engines, using artificial intelligence to bring a powerful offering to all consumers, merchants and small businesses. It will also facilitate the availability of financing to small shop-keepers and merchants to improve their capital efficiency so that they become competitive and grow their business. This will enable even the smallest merchant to earn more and employ more people to give the common Indian customer the best value for their money.
