SUMMARY
The digital platforms saw 4.5 Bn visits during the year, a 2.3X increase on an year-on-year basis, RIL said during its AGM
The daily count of delivered orders reached nearly 6 Lakh in FY22
Reliance Retail’s integrated omni channel platform AJIO is seeing 80% of purchases from repeat customers
The digital commerce platforms of Reliance Retail, the retail subsidiary of Reliance Industries Ltd (RIL), saw a 2.5X growth in the number of orders delivered, taking the daily count to nearly 6 Lakh orders during the financial year 2021-22 (FY22).
Besides, the digital platforms saw 4.5 Bn visits during the year, a 2.3X increase on an year-on-year basis, RIL said during its annual general meeting on Monday (August 29).
Talking about the retail business, Isha Ambani, executive director of Reliance Retail Ventures, said that the company invested in acquisitions and partnerships during the year to enter new categories, strengthen its service capabilities, and extend its reach to new markets.
“We have accelerated our New Commerce initiative, which is powered by the spirit of inclusion. Since our launch two years ago, we have grown our merchant partner base to over 20 Lakh partners,” Ambani said
“We add about 1,50,000 partners a month, and are on course to partner with 1 Cr merchants as we expand our presence to cover the entire country, serving over 7,500 towns and 3 lakh villages in the next 5 years,” she added.
The company’s digital commerce platforms – reliancedigital.in and JioMart – provide a comprehensive omni-channel network, enabling it to deliver 93% online orders from stores within six hours, Ambani said.
Reliance Retail also rolled out its JioMart Digital (JMD) initiative during the year. “The platform enables small electronics merchants to sell the entire product portfolio of Reliance Retail on an assisted selling model, helping them deliver superior customer experience and growing their income,” she said.
The company is also increasing its focus on its integrated omni channel platform AJIO, which is seeing 80% of purchases from repeat customers. AJIO’s new commerce initiative works with merchant partners across 3,500 towns.
“Last year, we sold over 43 Cr garments, which is enough to clothe the entire population of the US and Canada. We further strengthened our product portfolio by entering categories such as lingerie, saree and home furnishing, and have quickly scaled to establish significant positions in each of them,” she added.
Reliance Retail’s gross revenue registered a rise of 51.9% to INR 58,554 Cr during April-June quarter, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 97.8% to INR 3,837 Cr.
In addition, Reliance Retail’s digital and new commerce operations contributed about 19% of its gross revenue during the quarter.
