Ola, which is now renamed Ola Consumer, has gone a step further to change how people shop online and move about in some bold steps. It has announced many new initiatives that target changing how people shop and move around, which makes e-commerce and mobility more efficient, accessible, and affordable. These range from setting up automated warehouses and using electric vehicles for delivery to new payment and loan options, to name a few.
Read Also: Ola Electric: Launched e-motorcycle series ‘Roadster’ starting from Rs 75,000.
Revolutionizing E-commerce through ONDC
Ola Consumer is heavily investing in the Open Network for Digital Commerce, a government-backed platform democratizing e-commerce in India. Just like UPI made digital payments easy and pervasive, ONDC does the same for online shopping. This impressive feature is more linked to small businesses.
To support this, Ola will offer all suppliers on board with ONDC one year of free access to its Krutrim Cloud service. This cloud service aids these businesses in better managing their online stores. The offer extends to D2C brands as well, making it easier to operate online and reach customers.
Entering Quick Commerce Market
Ola is also entering the quick commerce market, which delivers goods to customers quickly, usually within minutes. This market is already crowded, with players like Blinkit, Swiggy Instamart, and Zepto. However, Ola plans a big impact by launching fully automated warehouses, otherwise known as dark stores.
On this plan, the running charges of those warehouses will be only 10% compared with the ones run by other competitors. OLA has already roped in famous brands like ITC, Marico, and Bombay Shaving Company to ensure the smooth and efficient running of such operations. Further, OLA will onboard more categories of products onto the ONDC platform, giving customers more choices in their online shopping.
Also: Ola Electric shares rally 20%, hit upper circuit on day 2 after listing; crosses…
Enhancing Shopping Experience Through AI
Ola Consumer is further developing the marketplace to offer a more interactive and personalized experience in online shopping. They will bring a new AI-powered shopping assistant, which the company has named a hyper-personal AI shopping co-pilot.
This would help guide the shopping experience of the user by giving personalized recommendations and integrated social media, among other apps, for a seamless and delightful experience.
New Options for Payments and Loans
Ola is making it easier for people to manage their finances while shopping using its services. The company has introduced Ola Credit, a service that allows users ease of access to personal loans. This service is offered in association with Tata Capital and Incred.
The whole process is completely digitized so that users can get a loan and deposit the money in their bank account in minutes. Also, Ola has rolled out a new payment system within the Ola app called Ola Pay, which users can use to pay for rides, food, groceries, and more through UPI.
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Sustainable Mobility and Customer Incentivization
It has also pledged to popularize eco-friendly transportation modes. Ola is committed to introducing 100,000 electric two-wheelers over the next two years, which will reduce carbon emissions and make delivery much greener. It is also relaunching Ola Share, a carpooling service across several markets that offers convenient and affordable transportation during peak hours on high-demand routes.
Ola has launched a loyalty program, Ola Coin, under which users will be given points or “coins” for every transaction on its platform, be it for mobility services, e-commerce purchases, or logistics. These can be redeemed with points earned against many rewards in return, therefore turning into a great incentive for usage.
Also Read: Ola Electric IPO: 2-6 Aug, Rs 72-76 per share, Rs 6,145.56 cr.
The above comprehensive initiatives will establish Ola Consumer as one of the major e-commerce and mobility players. The company works to help everybody by making online shopping much easier, transportation more sustainable, and financial services more accessible.
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