The new project introduced by India’s business tycoon, Nandan Niketan, is ready to restructure the retail system of India with ONDC, which would provide the customers with hyperlocal options, faster delivery, and better choice.
The simple Kirana shops continue to be the backbone of the Indian retail system. Today, online shopping apps promise delivery for anything and everything in minutes. Despite that, the classic neighborhood stores thrive because of their easy accessibility.
However, the introduction of shopping apps has led to a decrease in business for such authentic stores. To level the field for small merchants, Nandan Niketan has initiated to bring democracy into the $1 billion Indian retail markets.
Nandan Niketan was the driving force behind the UIDAI project, which enrolled 1.4 billion people to use their biometrics ID. If his upcoming colossal task succeeds, the retail stores will unlock another dimension of business. He plans to achieve this with the help of ONDC or Open Network Digital Commerce.
E-commerce apps like Amazon and Flipkart lure customers with heavy discounts and promote a specific product based on the algorithms. The never-tried-before technology made its debut on Friday, 29th April, in five cities in India, including Delhi, Bengaluru, Coimbatore, Bhopal, and Shillong.
Open Network Digital Commerce
The Indian retail market has incurred enormous losses during the COVID era. The change initiated by Niketan can bring about revolutionary changes in the system. Retailers who have never sold online have signed up for ONDC, focusing on their willingness to try.
Technically, ONDC is the UPI of retail. It is a decentralized same-for-all system. Under ONDC, whatever e-tail platform the retailer uses, they would be visible on all associated networks. Starting from local paan shops to semi-big supermarkets, all are compatible with using ONDC apps, unlike websites ruled by brand-centric policies.
Without any doubt, Amazon and Flipkart are tough to compete with, and the government is under pressure to provide citizens with something better than that.