Reliance Retail, part of Reliance Industries, plans to launch multi-channel shopping across all its formats to tap the fast growing e-commerce segment, according to media reports.
The company, which operates its business under five core formats -- Value Formats and others, Fashion and Lifestyle Digital, Brands and Jewellery -- has already launch e-commerce operations for its Value format through reliancefreshdirect.com on a pilot basis.
"Reliance Retail is poised to launch multi-channel shopping for other format sectors as well. The potential of e-commerce combined with the network of physical store locations will offer tremendous choice and convenience at a great value to the consumer," Reliance Industries said about its retail business in its annual report.
The report said the company wants to integrate an 'offline-online' model, which can truly differentiate the customer experience.
Highlighting the potential e-commerce sector in India, the report said India's e-commerce market is expected to grow exponentially over the next five years.
"Internet users are expected to increase three times from 200 million in 2014 to 600 million by 2020 due to increased proliferation of smartphones, lower cost of connectivity and improved quality and expanded reach in lower tier cities," it added.
Reliance Retail forayed into online channel through reliancefreshdirect.com.
“The site is currently under pilot and process improvements are being implemented. It will further improve the end customer experience. The operations would be expanded to newer geographies in a phased manner," the company said.
Fibre2fashion News Desk – India