- 30 Aug 2022
- ICICIdirect Research
Reliance Retail to focus on rural penetration, launch of FMCG products for general trade
News: In the AGM of Reliance Industries, several initiatives related to Reliance Retail were highlighted. The key announcements were : 1) Appointment of Isha Ambani as the head of Reliance Retail,
2) Announcement of entry into fast moving consumer goods segment for general trade,
3) Reliance Retail has partnered with Whatsapp to roll out JioMart shopping on the messaging platform, which would enable customers to order groceries on WhatsApp.
4) The company plans to penetrate deeper into the rural areas and integrate the operations of small traders through technology and provide them access to large product bouquet to sell to their customers.
View: The company continues to add retail space and offer new products to its customers. Through its vast physical reach and strong technology backbone, the company is looking to enhance its share of omni channel revenues by providing the customers an enriched shopping experience both offline and online. The company is on course to partner with one crore merchants and expand its presence to cover the entire country, serving over 7,500 towns and 5 lakh villages over the next five years. The recent initiatives announced in the AGM focus on accelerating the revenue growth momentum by widening the customer base through a combination of own retail reach and tie up with small traders and mom & pop shops to garner a higher share of the consumer wallet.