Mukesh Ambani-led RIL has been proactively working towards launching online-to-offline (O2O) retail plans that will include providing over 100 services in one app.
On the lines of Tencent-owned WeChat model, Reliance is aiming to launch ‘Super App’ 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 working to create a hybrid ecosystem, where customers would be able 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 Busines Standard report quoting a source close to the development.
RIL might just do 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 the country, but could not get a breakthrough and ultimately dropped the idea.
Somehow experts observing the space, think that Ambani-led firm has the potential to replicate Wechat.
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 realise its plan to be a one-stop solution for everything.
Early this month, RIL started withdrawing its products such as clothes, shoes including fashion and lifestyle products from its rival marketplaces like Amazon and Flipkart. The move is largely in sync to RIL’s aims 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 next decade. At present, about 80 % of the group’s sales come from its traditional oil and gas business. Entrackr‘s queries, seeking detail on this, to Reliance are yet to elicit a response.
Meanwhile, in 2018, Ambani had said that he sees its biggest growth opportunity in creating a hybrid, online-to-offline new commerce platform as it aims to redefine retail in India.
RIL has been working with kiranas stores and consumer brands to create an operational model for the same. To strengthen its play for e-commerce, RIL had acquired Haptik and Fynd. Entrackr had exclusively reported about Fynd acquisition by RIL.
Scouting to place its bet on e-commerce in India after exiting from Flipkart, Softbank reportedly is planning to invest about $2-3 billion in Jio. If it goes as per the report, this will further equip Reliance to do what no marketplaces and online payment firms have been able to do in India.