As part of this partnership, NEC will make a strategic investment in Jumbotail
Bengaluru-based business-to-business (B2B) marketplace Jumbotail Technologies and Japan-based NEC Corporation have joined hands for a strategic collaboration aimed at advancing the digital transformation of India’s mass market retail sector and its 19 million local neighbourhood stores (Kirana). As part of this partnership, NEC will make a strategic investment in Jumbotail.
NEC’s partnership with Jumbotail will accelerate and expand access to advanced technology for millions of small-scale entrepreneurs in India. Moreover, it will provide access to enterprise-grade solutions, previously only available to large modern retail companies, to small Kirana owners and regional brands in India.
“These solutions will drive higher customer retention, improve operational efficiency and increase profitability, which will enable Kirana owners to offer a modern, digitally enabled shopping experience that will transform India’s mass market Kirana retail sector,” Jumbotail said in a statement.
NEC’s advanced AI and retail technologies will be customised for Jumbotail’s Kirana customers to discover and sell a wider variety of products, improve inventory management, optimise in-stock rates, and optimise working capital. NEC and Jumbotail will collaborate to enhance Jumbotail’s new retail platform and GoldenEye retail operating system, by integrating NEC’s advanced in-store digital solutions to enable the digitisation of store operations and a better consumer experience via real-time consumer insights.
“Leveraging Jumbotail’s marketplace and retail platform’s deep market reach across Kiranas and brands, and NEC’s AI-driven data analytics and advanced in-store retail solutions, the companies will develop and deploy go-to-market retail solutions that connect brands and consumers by strengthening targeted promotions and consumer engagement,” the statement added.
