23 lakh crore in 2011-12. Kirana stores cannot spend months and lakhs of rupees for a new facelift. Mathura court dismisses Krishna Janmabhoomi petition, From October 15, multiplexes and cinemas can reopen with 50% seating capacity, Shane Warne confident that Sanju will make Team India if he keeps playing like he does this IPL, Natarajan's yorkers hit the spot, and his life story strikes a chord, Rashid dedicates his Man of the Match performance to his late mother — his biggest fan, Copyright © 2016 - 2021 The Asian Age. There are several businesses looking to tap this opportunity coming from diverse angles, such as bookkeeping and collection software, to Shopify-equivalent customer-facing models,” said … 06 Sep 2019 3:25 PM Learn how your comment data is processed. With Reliance Industries’ recent announcement to digitize the country’s neighbourhood stores doing the rounds these days, let us take a look at some companies that are working tirelessly towards digitally empowering the local retail ecosystem in India: Reliance Retail is the retail subsidiary of Reliance Industries Limited, an India-based multinational conglomerate company. This initiative has far-reaching consequences for the FMCG industry. Amidst this, digitizing a market that remains unorganized to a whopping extent of 90 per cent is a task that needs to be taken up as immediately and extensively as possible. View all posts by Tielman Nieuwoudt. And a digital ecosystem will make it hard for them to evade taxes. Therefore, in order to not just survive but to also thrive, kirana stores are trying to embrace technology and modernize their business to cater to rising customer expectations. The digitization of mom-and-pop stores in India and Indonesia allows shop owners to earn extra incomes while providing additional services to stores customers. And even in this digital-led world when e-commerce is growing by leaps and bounds, the significance of these small shops in the neighbourhoods remains the same. As India is undergoing a digital revolution, cash transactions are steadily declining and digital modes of payments are gaining momentum. Digitizing Kirana stores reminds me of one of the biggest trends that are sweeping across a host of industries including FMCG – Digital India. Such facilities, supplemented by real-time visibility of sales and staff performance, are enabling retailers to enhance their efficiency and scale up their retail business further. Thursday, Jan 21, 2021 | Last Update : 06:15 AM IST. ( Log Out /  Over 12 million local kirana stores scattered across the country form the very backbone of India’s retail trade. According to an Assocham and MRRS India research, over 350-400 million retail consumers are projected to be digitally influenced by 2020. The network of over 15 million mom and pop stores, locally known as kirana stores, is the backbone of India’s everyday grocery supply. The physical infrastructure exists and is going to stay, but the digital infrastructure needs to be created and integrated to strengthen the entire retail ecosystem in India. By planning on integrating merchants, consumers, and producers through this digital platform, Reliance Retail envisions to further digitization and inclusive growth, and share wealth with those at the bottom of the commerce and retail pyramid in India. Some of the notable improvements post revamp, are increased footfalls and an increase in revenue. He has more than two decades of personal and professional experience — working, living and travelling across more than a hundred countries, primarily in emerging economies in Africa, Asia, Latin America and the Middle East. The retail market, which contains both organized and unorganized segments, stood at Rs. Here are some trends that are playing a key role in digitizing retail stores-The entry of new players METRO Cash and Carry is the wholesale division of METRO, a Germany-based leading international specialist in wholesale and food retail. Tielman Nieuwoudt is a consultant focused supply chain, last-mile logistics, and informal retail service models in emerging markets. Mumbai-based m.Paani which has been digitizing kirana stores since 2014 is now making sure no local shop is left behind. So much that, over 12 million local kirana stores scattered across the country form the very backbone of India’s retail trade. This clearly indicates that customers of modern India prefer to visit a well-maintained store. After all, Small and Medium Businesses (SMBs) are the backbone of the Indian economy. It will not … by usscmc. This would enable them to operate in the same way and as efficiently as the larger enterprises and e-commerce players do. Change ), You are commenting using your Google account. With over 12 million kirana stores, including those in rural areas, we are digitizing kirana stores so that they can earn more while sitting at their stores. From food grains to necessary commodities to random little things, we have all witnessed each of these purchases being made at kirana stores from our childhoods, with the sweet kirana waale uncle offering us toffees instead of change. In this manner, Digital Shop strives to transform kirana stores across the country with a more affordable and sustainable digital solution for business growth and profitability. ( Log Out /  Kirana are typically family-owned stores that operate in fixed locations and carry both basic food and non-food items. Posted by Tielman Nieuwoudt. Driven by its mission ‘Har Dukaan Digital Pradhan’, Paynearby enables an average monthly business of 3.5 million transactions in the 115 Aspirational Districts of India. kirana.store intend to create … Reliance Retail will … How these companies are digitizing kirana stores across India. The startup has more than 8 million users in 700 districts and 10,000 cities in India. Digitizing the procurement process, Jumbotail has launched a B2B eCommerce portal for these Kirana stores and suppliers to connect and transact online. In India, PhonePe has a network of over 500,000 neighborhood stores providing ATM services for its users, who can go to kirana stores and transfer the amount of money they need to the store owner’s PhonePe … to local communities. These include launching of supply chain and logistics services, which, accelerated by the pandemic, will continue after the Covid-19 crisis ends. In a nut-shell, you will help the … Kirana.Store emphasizes on quality at reasonable prices to all consumers. It helps to stop the spread of the … It provides clear catalogue of products available and gives clear and concise information to buyers to decide on the products they intend to purchase. are … To address these challenges, leading cash & carry players such as Reliance, Metro, Walmart etc. Local shops are now confined to a radius of a few kilometers in which they can deliver. Indonesia. An Alfamart (with Alfaexpress brand) convenience store in Jakarta, Indonesia. But, the bigger … Mumbai-based m.Paani which has been digitizing kirana stores since 2015 is now making sure no local shop is left behind By Bora, ET Online I Last Updated: Apr … Using their trademark product, Quicktile provides a brand new look to the store. But most kirana stores have yet to digitise their businesses and still rely on large notebooks or pieces of paper to log transactions and keep track of short-term customer credit. A 48 hour revamp would just fit the bill. Read more… 18 Khatabook supports 11 languages, includes payment reminders to customers, and sends out an automatic SMS to customers every time a transaction is recorded. The next big digital push in India needs to be in digitizing kirana stores. Khatabook: Digitising kirana stores in India. At the same time, the app gives these retailers access to interest-free business credit within a few clicks. Through such a value proposition, Shopmatic is facilitating an efficient omnichannel ecosystem for kirana stores across the country, thus digitally empowering them. The skyrocketing smartphone penetration in the country, coupled with one of the lowest data charges in the world, has helped bring India online. ( Log Out /  With the kirana shops digitizing and starting to deliver online, people are finding it even more convenient to have everything on the tips of their fingers. Equipped with a holistic online and offline ecosystem, these local retail stores are now able to manage their customers, reduce operational costs, synchronize inventory, onboard new customers, and offer loyalty points, etc. The synergy is helping local retailers implement an efficient omnichannel retail management system post establishing their business online. Khatabook operates a bookkeeping app that allows kirana stores or micro- retailers to manage financial transactions and accept payments online. Change ), You are commenting using your Twitter account. The banking transactions like balance enquiry, … Convenience stores or "Mini market" (in Indonesian) are mostly scattered around the towns. Small, dim-lit, but fully-stocked: this description typifies each kirana store across the country. The app saves store owners time, helps them keep track of short-term credit provided to customers, and improves transparency and efficiency in their business. This site uses Akismet to reduce spam. Change ). The company recently announced its plans to digitize kirana stores for the transformation of the unorganized retail market, as part of its ‘New Commerce’ move. ( Log Out /  The app, called Digital Shop, facilitates instant digitization of all business operations for kirana store owners, without the need for an additional investment on a device. Digitizing kirana store transactions in Jaipur, Rajasthan Opportunity Transforming the fixed store ecosystem Designing a business model Product suite User experience and user interface design Sales and distribution model Developing a revenue model Key partnerships Concluding thoughts 2 9 16 20 31. November 3, 2020 Authored by Nayrhit Bhattacharya and Karan Mohla. How m.Paani is helping kirana stores in India thrive during the Covid-19 lockdown Leaving the business sector in tatters, coronavirus has made the traditional mom-and-pop stores in India struggle to make sales. Khatabook operates a bookkeeping app that allows kirana stores or micro- retailers to manage financial transactions and accept payments online. Kirana.store is a comprehensive platform to cater to the needs of ever growing needs of consumers. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. In fact, the digitisation of SMBs could add $158 to $216 billion to India's GDP by 2024 and contribute to the country's economic recovery post-Covid-19, according to the Cisco India SMB Digital Maturity Study 2020. The company leverages AI, ML, and advanced analytics to create quick, simple, seamless, and efficient micro experiences that enable local retailers, referred to as ‘Digital Pradhans’, to provide these assisted hyperlocal services. This app basically enables traditional retailers that buy from METRO to order stock, facilitate digital payment options, manage inventory, and track their sales, etc. Through its concerted efforts, PayNearby is not just digitally empowering kirana stores and local communities but is also playing a highly instrumental role both in driving financial inclusion as well as the transformation of India’s socio-economic landscape. And looking closely, their concerns are legitimate. These outlets are largely dominated by small retailers such as local Kirana shops, owner-manned general stores, chemists, footwear shops, apparel shops, and other small and medium retail showrooms. 6 min read. The company has set its eye on digitizing over 1,00,000 kirana stores over next 18-24 months. More than 500 million Indians are online today, and many have internet-enabled smartphones. 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However, in this increasingly digital era, technologically upgrading these stores has become an imperative. Firstly, for the shop-owners going digital means having a record of all the items that they sold. PayNearby is a division of Nearby Technologies, India’s leading hyperlocal fintech network offering digital financial and non-financial services to underbanked and unbanked segments of the population. They are even offering contactless deliveries along with sanitization of the goods that you have ordered. Digitizing India’s Food Supply Chain. Launched in 2014 with an objective to empower millions of aspiring entrepreneurs with a digital footprint, the company recently partnered with Singapore-based retail management solutions company Octopus to disrupt the retail market in Asia-Pacific with a suite of services to address the gaps that exist for offline businesses in going online. Reliance Retail will leverage AI, ML, Blockchain, IoT, and cloud computing to empower these local retailers with an end-to-end digital and physical distribution stack. Its Indian subsidiary recently co-created an app for kirana stores with fintech startup ePayLater. The Indian retail sector has experienced high growth over the … 5. Over 12 million local kirana stores scattered across the country form the very backbone of India’s retail trade. Mumbai-based m.Paani which has been digitizing kirana stores since 2015 is now making sure no local shop is left behind. As Express Stores’s first VP (Business), you will be responsible for establishing end-to-end processes for grocery store on-boarding and relationship management, consumer understanding, digitizing the Kirana, understanding the data of sales to improvise the inventory & launch marketing campaign to increase sales, sales force hiring etc. Besides sourcing, Kirana stores face challenges in tracking sales, merchandizing, driving customer insight and managing the right inventory. “The digitization of kirana stores is a massive opportunity which is seeing acceleration during COVID-19, as unorganized retailers look to build omni-channel capabilities to serve customers. Currently, cash transactions allow greater flexibility in paying lesser taxes. Having transformed 2500 Kirana stores across eight cities in to virtual super markets, the start up Quick Bizz further decided in advance, to collaborate with 15000-20,000 store owners in top 30 cities of the country by the end of this year. How these companies are digitizing kirana stores across India Over 12 million local kirana stores scattered across the country form the very backbone of India’s retail trade. This is evident from the report published by Redseer Consulting, which depicts an increase of 40% in the Kirana share of purchasing from E-B2B platforms. It also allows these local retailers to facilitate customized offers for customers in their area ordering on the app, giving instant credit for their purchases as well. Change ), You are commenting using your Facebook account. Large opportunity in digitizing Kirana Stores by providing integrated solutions across analytics, payment and inventory management. PayNearby empowers retailers at the first mile to offer digital services such as Aadhaar-based banking services, bank savings, bill payments, card payments, and insurance services etc. Leveraging Kirana stores for a symbiotic delivery model. This … The kirana shop owners are not as keen as the startups to partner with them. Also, fintech is another area in which Reliance is well positioned, it said identifying digitizing the kirana stores to accept digital payments … Here are the 7 Genius wats to earn more: Banking services – You can provide AEPS (Aadhar Enabled Payment System) services as they are easy to use, safe and secure payment platform. Brace yourself for the biggest move towards digitizing your Kirana store. The company recently announced its plans to digitize kirana stores for the transformation of the unorganized retail market, as part of its ‘New Commerce’ move. Shopmatic is a Singapore-based technology firm that provides e-commerce solutions to small businesses and individual entrepreneurs. 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