But, the bigger … 06 Sep 2019 3:25 PM Khatabook operates a bookkeeping app that allows kirana stores or micro- retailers to manage financial transactions and accept payments online. 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. Kirana.Store emphasizes on quality at reasonable prices to all consumers. In a nut-shell, you will help the … Through such a value proposition, Shopmatic is facilitating an efficient omnichannel ecosystem for kirana stores across the country, thus digitally empowering them. 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. Mumbai-based m.Paani which has been digitizing kirana stores since 2015 is now making sure no local shop is left behind. An Alfamart (with Alfaexpress brand) convenience store in Jakarta, Indonesia. Authored by Nayrhit Bhattacharya and Karan Mohla. Tielman Nieuwoudt is a consultant focused supply chain, last-mile logistics, and informal retail service models in emerging markets. This … The network of over 15 million mom and pop stores, locally known as kirana stores, is the backbone of India’s everyday grocery supply. 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. Thursday, Jan 21, 2021 | Last Update : 06:15 AM IST. The company has set its eye on digitizing over 1,00,000 kirana stores over next 18-24 months. Digitizing the procurement process, Jumbotail has launched a B2B eCommerce portal for these Kirana stores and suppliers to connect and transact online. Using their trademark product, Quicktile provides a brand new look to the store. Change ), You are commenting using your Google account. Over 12 million local kirana stores scattered across the country form the very backbone of India’s retail trade. to local communities. The retail market, which contains both organized and unorganized segments, stood at Rs. November 3, 2020 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. 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. Large opportunity in digitizing Kirana Stores by providing integrated solutions across analytics, payment and inventory management. And looking closely, their concerns are legitimate. 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 … 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. Reliance Retail will … 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. “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. 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. 23 lakh crore in 2011-12. To address these challenges, leading cash & carry players such as Reliance, Metro, Walmart etc. The banking transactions like balance enquiry, … Digitizing the procurement process, Jumbotail has launched a B2B eCommerce portal for these Kirana stores and suppliers to connect and transact online. Small, dim-lit, but fully-stocked: this description typifies each kirana store across the country. This would enable them to operate in the same way and as efficiently as the larger enterprises and e-commerce players do. At the same time, the app gives these retailers access to interest-free business credit within a few clicks. 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. It provides clear catalogue of products available and gives clear and concise information to buyers to decide on the products they intend to purchase. 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. The startup has more than 8 million users in 700 districts and 10,000 cities in India. Convenience stores or "Mini market" (in Indonesian) are mostly scattered around the towns. The skyrocketing smartphone penetration in the country, coupled with one of the lowest data charges in the world, has helped bring India online. 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. After all, Small and Medium Businesses (SMBs) are the backbone of the Indian economy. Mumbai-based m.Paani which has been digitizing kirana stores since 2014 is now making sure no local shop is left behind. 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. Some of the notable improvements post revamp, are increased footfalls and an increase in revenue. 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. Digitizing Kirana stores reminds me of one of the biggest trends that are sweeping across a host of industries including FMCG – Digital India. Local shops are now confined to a radius of a few kilometers in which they can deliver. 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. 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. And a digital ecosystem will make it hard for them to evade taxes. The kirana shop owners are not as keen as the startups to partner with them. Brace yourself for the biggest move towards digitizing your Kirana store. 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. Change ). 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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. 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. How these companies are digitizing kirana stores across India. are … 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. ( Log Out /  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. Over 12 million local kirana stores scattered across the country form the very backbone of India’s retail trade. 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. 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. Shopmatic is a Singapore-based technology firm that provides e-commerce solutions to small businesses and individual entrepreneurs. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. Kirana are typically family-owned stores that operate in fixed locations and carry both basic food and non-food items. Also, fintech is another area in which Reliance is well positioned, it said identifying digitizing the kirana stores to accept digital payments … Besides sourcing, Kirana stores face challenges in tracking sales, merchandizing, driving customer insight and managing the right inventory. ( Log Out /  This site uses Akismet to reduce spam. Here are some trends that are playing a key role in digitizing retail stores-The entry of new players ( Log Out /  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. So much that, over 12 million local kirana stores scattered across the country form the very backbone of India’s retail trade. 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. 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. 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. The next big digital push in India needs to be in digitizing kirana stores. Digitizing India’s Food Supply Chain. Currently, cash transactions allow greater flexibility in paying lesser taxes. View all posts by Tielman Nieuwoudt. Kirana.store is a comprehensive platform to cater to the needs of ever growing needs of consumers. 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. Leveraging Kirana stores for a symbiotic delivery model. 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