At Ola Group’s annual event, ‘Sankalp,’ CEO and founder Bhavish Aggarwal announced the rebranding of Ola Cabs to Ola Consumer, signaling a new direction for the company. This transformation aims to make e-commerce more accessible, affordable, and efficient by offering a variety of consumer services.
Aggarwal emphasized that Ola Consumer’s mission is to break down traditional commerce barriers, ensuring that consumers can access top-quality products and services. He highlighted the company’s recent technological innovations over the past six months, which have expanded Ola’s focus beyond mobility to redefine commerce in India, enhancing value for consumers within a more equitable and efficient ecosystem.
Among the key initiatives unveiled was the relaunch of the ride-sharing service, Ola Share, which is now available in Bengaluru. This service allows users to share rides, reducing costs. Initially, it limits trip deviations to under 20 minutes and permits a maximum of two passengers per shared taxi. Additionally, a new loyalty program called Ola Coin has been introduced in Bengaluru, offering personalized benefits that can be redeemed across various Ola services, including mobility, e-commerce, and logistics.
To further streamline e-commerce, Ola Consumer is doubling down on its collaboration with the Open Network for Digital Commerce (ONDC). Describing ONDC as the “UPI moment for e-commerce in India,” Aggarwal announced plans to scale this partnership nationwide. During its 2024 pilot in Bengaluru, Ola’s food and grocery delivery service on ONDC achieved over 40,000 daily orders. Ola Consumer will give ONDC suppliers a free year of fair usage access to Krutrim Cloud as part of their support for startups and SMEs. D2C brands will also receive a year of free Krutrim Cloud access.
Ola Consumer also launched Ola Credit, a new platform offering users low-cost loans through partnerships with Tata Capital and Incred. Another addition is Ola Pay, which integrates UPI payments within the Ola app for rides, food, and groceries.
In an effort to reduce logistics costs by 50%, Ola Consumer will intensify its focus on electrifying last-mile logistics. Aggarwal also introduced an AI-powered shopping copilot designed to personalize the shopping experience on the Ola app, enhancing user interaction with social media and other digital platforms for a more integrated shopping journey.
The event also saw the unveiling of fully automated dark stores and fulfillment centers under the Ola Consumer brand, aimed at revolutionizing the warehousing sector. These facilities, already in partnership with major FMCG and D2C brands like ITC, Marico, and Bombay Shaving Company, are set to optimize logistics by reducing manual errors and storage costs.
