Companies

Reliance Retail to onboard over 1 cr merchant partners in next 3 years

Mumbai | Updated on June 24, 2021

Aims to grow three times in next 3-5 years

Reliance Retail aims to expand across cities, and will onboard over one crore merchant partners over the next three years, said Mukesh Ambani, Chairman, Reliance Industries. The retail arm aims to grow at least three times in the next three- five years, he said at the Reliance Industries AGM on Thursday.

“This past year was a test for our company. However, we continue to maintain and strengthen our leadership position. Reliance Retail added 1,500 stores. We took our total stores to 12,711 stores. Today, one in every 8 customers shop with Reliance Retail. We aim to become one of the top 10 retailers globally."

Reliance Retail operates in apparel, grocery and electronics segments.

Speaking about the growth of the apparel segment, Ambani said “Reliance Retail sold over 18 crore units of footwear and apparel. Enough to dress the population of the UK, Spain and Germany once.”

Ajio, is an apparel website of Reliance Retail, that, according to Ambani contributes to 25 per cent of its apparel revenue.

Speaking about its grocery segment, Ambani said: “Our grocery staff operated on the front lines of crisis ensuring availability of essential products to our customers and kirana partners.

JioMart registered over 6.5 lakh peak orders in a single day.”

JioMart’s growth is a testament to its already loyal customer base, 80 per cent of whom are repeat shoppers, he added.

He further said that JioMart New commerce’s aim is to transform and grow the small merchant ecosystem, so our merchant partners prosper.

“Over the past year, over 3 lakh merchant or shopkeeper partners across 150 cities were enabled and empowered to transform their businesses both physically and digitally.

Our promise to them is simple: ‘Customer Apka, Support Hamara’ — We support you, so that you can serve your customers better”

“A testament to our promise is that we have seen a 3x growth in kirana orders and 2x growth in order frequency. Expansion across cities is well underway and we will onboard over one crore merchant partners over the next three years.”

Speaking about its electronics platform, he said last year, Reliance Retail sold 4.5 crore units of electronics, or over 120,000 items every day. We sold over a billion grocery units, or around 30 lakhs every day.

Ambani said he wants Reliance Retail to be among the top 10 retailers in the world.

“I am certain that Reliance Retail is on track to increase at least three times in the next 3-5 years.”

Published on June 24, 2021

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