The lockdown time and the fear of economic loss during COVID-19 has no effect on one of the business giant Reliance India Limited. Like the time of launch of Jio, this time too Mukesh Ambani came up with a surprising announcement of signing a deal with Facebook giving them a stake of 9.99 percent of their shares in to a deal of 5.7 billion US dollars with Facebook.
How to make use of advert market conditions, one should learn from Mukesh Ambani. Amidst pandemic he signed deal with Facebook and surprised everyone with his new model of O2O online to offline, to empower the local Kiryana Store.
A new kind of business model where customer can place order from that of catalogue of the joint online stores. Customer has to save WhatsApp number of Jio Mart and need to say hi.
The customer will be receiving a link which will be active for 30 minutes and they can place order there, the same will be directed to the local Kirana store who are on the platform of Jio mart, the details of the same will be shared to the customers and the order can be collected from near by shop by paying at the store itself. This online to offline model has also been used by Alibaba group earlier.
This move of Jio can be related to the lockdown and severity of COVID-19 in Mumbai Maharashtra area that’s why the group has started it from Thane, Kalyan and Navi Mumbai. 400 million users of WhatsApp is considered to be one of the booster for this WhatsApp model of business. Small Kirana stores are considered to be benefited from the deal.
How the business can take advantage of the present situation will be interesting to watch.