Transforming Retail
RamaKrishnan T M (Ramki)
Senior Vice President - JioMart Digital,
Reliance Retail
R etail has transformed in the digital age, where Generations Alpha and Beta interact almost exclusively online. The challenge isn’t access but cutting through a saturated space of information and ads. Winning now depends on personalised engagement, where creativity rooted in audience insights plays a pivotal role. Ramakrishnan T M (aka Ramki), Senior Vice President at JioMart Digital, is leading the operations in navigating this shift. Under his leadership, JioMart Digital has harnessed the power of data-driven strategies while embracing creativity to engage customers meaningfully in the increasingly competitive retail space. With India’s retail market projected to reach $2 trillion by 2030, and online transactions expected to grow from $65 billion in 2023 to $200 billion by 2030, Ramki’s vision is essential in positioning JioMart Digital at the forefront of this transformation. His strategic approach is shaping the future of retail in India, where the blend of offline and online shopping continues to drive growth, making digital engagement more critical than ever. Speaking with TradeFlock, Ramki discusses his learning, strategies, and legacy.
What key lessons from telecom have shaped your leadership approach in retail?
My career journey has encompassed FMCG distribution, telecom, product development, and sales to both businesses and consumers. A key insight I’ve gained is that true success lies in understanding and fulfilling customer needs. Whether in B2B or B2C, consistently delivering value cultivates loyalty and drives sustainable growth. Joining Reliance Retail’s Omnichannel sales division was a pivotal step. Reliance is more than a company; it’s a hub of immense learning opportunities. Our mission was clear: to ensure seamless access to products and services, regardless of location. Drawing on my experience in product development, telecom, and D2C sales, collaboration with the tech team helped to optimise processes & enhance customer experience. This approach underscored that comprehensive solutions are the gateway to growth and boundless possibilities.
How is the convergence of physical and digital retail shaping consumer behaviour, and what strategy are you focusing on?
The retail industry is undergoing a major shift, driven by the convergence of physical and digital spaces. Over the next five years, the omnichannel model will become essential, merging traditional experiences with advanced digital solutions. This transformation is about creating seamless customer journeys that exceed expectations. Physical stores will evolve into sensoryrich destinations, while digital platforms will increasingly shape purchase decisions. With India’s retail market poised to reach $2 trillion by 2030, offline transactions will be influenced by online interactions, making integration key. Technologies like AI, AR, VR, IoT & many more will drive personalised experiences and smart logistics. Retailers must master the complete consumer journey. My book, The Omnichannel Revolution: Transforming Retail and Distribution, which is getting released this year, delves into this dynamic shift, highlighting strategies for sustainable growth and elevated customer experiences.
How would you define your legacy and the impact of your work?
If I were to define my legacy, I would want my various roles to be seen as a driving force that bridged the divide between technology and human connection. My passion for understanding customer behaviour has fuelled my journey in creating ecosystems that anticipate consumer needs. I envision a future where seamless platform integration enhances customer experiences and drives growth. In my current role, I focus on building adaptable foundations for businesses to thrive in a tech-driven world, leaving a legacy of innovation, inclusivity, and lasting impact on consumer lives.
What strategies help you build trust and brand recognition in Tier II and smaller towns?
When we launched JioMart Digital, our biggest challenge was building trust with retailers and franchisee partners, particularly in Tier 2 towns and smaller markets. Many were hesitant, fearing competition for their customers. Despite tailored conversations, these concerns weren’t easily alleviated. To address this, we adopted a “walk-thetalk” approach. We focused on delivering tangible results, ensuring transparency in our operations, and consistently meeting every promise. Today, we are creating microsites for franchisees and directing customers to their stores while ATL/BTL and digital ads drive foot traffic to retail outlets. This approach gradually built confidence in our partners, and as they saw the benefits, our footprint expanded across Tier II & III and rural markets. Today, we have thousands of successful partnerships in over 85% of India’s postal codes. Our intuitive app allows even partners with minimal product knowledge to sell effectively. Our inclusive strategy has transformed retail, enabling partners to cater to their customers’ full range of needs, including premium products, without keeping inventory in the store, fostering growth and ensuring loyalty.
What’s your secret sauce for turning challenges, like building a retail network, into success?
Building a retail network from scratch was a game-changer, and that offered deep insights into consumer behaviour and retail dynamics. Today, consumers are more informed than ever, thanks to affordable data; the real challenge was helping retailers keep up. Many were struggling with the growing digital divide, so we took a step back and asked the crucial questions: Why would a retailer partner with us? What are their pain points? Once we understood those, we developed digital solutions that bridged that gap, enabling retailers to meet today’s savvy customers. The results? Traditional retailers, especially in Tier II & below towns, not only survived but thrived partnering with us. By offering tailored, competitive solutions, we turned what seemed like a challenge into an incredible success story. Brands focusing solely on online channels saw significant market share growth, expanding their distribution networks beyond long-established competitors after partnering with us.
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