Reliance Retail to Collaborate With Multiple Retailers to Boost Sales

Reliance Retail has commenced plans to mergewith several retailers to increase sales of their soon-to-be launched line of Lyf Smartphones. Reliance Retail, an integral part of Reliance industries aims to score high in the electronic segment. The company, together with Reliance Jio have a plethora of services to offer customers. Reliance Retail’s trendy smart phones with Jio’s 4G LTE services together, assure a promising entry into the electronics market. These services will soon be made available at Reliance Retail, Reliance Digital and Reliance Express mini stores.

A rise in Reliance Retail stores across India

The retail arm is believed to have surpassed market expectations by garnering over 20,000 crore in sales during the period from 2015 to 2016. Besides, the company has maintained a steady rise in business by initiating the establishment ofnumerous stores and outlets across the country. So far, Reliance Retail has around 3200 stores across the country. In fact, a majority of stores (around624) have been launchedbetween the years 2014 to 2015.

Online shopping portals

The company has also been on track with changing market trends by launching online shopping portals. Reliancefreshdirect.com has been a preferred choice among customers with regard to purchasing groceries and other essential items. It was soon followed by ajio.com, a premium fashion portal especially for Indian customers. Ajio.com, although new to the online fashion sector has attained considerable success by bringing along a range of international and local brands under one roof. With ample experience in e-commerce, the Reliance Retail is in no mood to slow down. After the successful launch of ajio.com, itharbors plans of another online venture. This one though will be an online foot wear portal.

Tie-ups with retailers

To increase its customer acquisition, sale of products in Reliance-only chains is not enough, the company has realized. Therefore, Reliance has now joined hands with over 65,000 retailers and merchants to improve sales.  The company wants to ensure that there is no dearth of retail stores to purchase Reliance electronics from.“The plan is to serve customers through the retailer. We may not have a store in a customer’s locality and yet a Reliance Retail product will be at their home”, said a source close to the company. It is believed that the company has already started work on engaging around 1,50,000 retailers in the sale of various Reliance electronics.

Steady growth

The company’s distribution channels will also begin sale of 4G enhanced smart phones such as Lyf Flame 1 very soon. Additionally, Reliance’s retail arm has also set a record by opening 12 stores per week adhering to their earlier set business strategy. The company has showna steady growth with a turnover of 22.5 percent in the ongoing financial year, 2016. This is reported to be far better in comparison to the previous year.

Summary

Reliance Industries to profit from Jio’s 4G services; in addition to working with retailers to launch Reliance products.

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