Reliance Industries Limited (RIL) is about to jump on Amazon and Flipkart by launching its e-commerce venture called JioMart. Operated by Reliance Retail, which is that the retail arm of RIL, the new venture has been initially launched a pilot for the shoppers in Navi Mumbai, Thane, and Kalyan. It will, however, gradually expanded across India. RIL Chairman and Indian billionaire Mukesh Ambani first hinted at the e-commerce venture by calling it “new commerce initiative” last year. The Mumbai-based company is projected to attach three crores, offline retailers, with over 20 crores households within the country through the most recent venture, Ambani had said at RIL’s 42nd annual general meeting (AGM) in August.
To begin its e-commerce operations, Reliance Retail has started taking pre-registrations for JioMart. The new venture is touted to supply a portfolio of over 50,000 grocery products alongside offerings like free home delivery against no minimum order value, no questions asked return, and express delivery promise, as highlighted on the official JioMart website that specifies the venture as “Desh Ki Nayi Dukaan” (the country’s new shop). These benefits would help Reliance persuade customers who’re majorly using Amazon and Flipkart for grocery shopping.
After launching Jio in 2016, Reliance has expanded to a large number of digital services including digital streaming, music, home broadband, and TV. A subscriber base of 360 million offers it an extended reach to launch and scale any internet service.
According to a report by Mint, Reliance Retail has sent an invitation to Jio users to register for JioMart and avail preliminary discounts. the web site of the venture shows that early customers would rise up to Rs. 3,000 for pre-registration.
Instead of establishing its native warehousing, Reliance is building JioMart on an online-to-offline (O2O) marketplace under which it’ll source grocery items from nearby merchants, almost like what Amazon Prime Now and Grofers wont to do earlier. this suggests that the new venture will emerge as a platform for offline retailers to cater to online-focused customers in their locality.
“Our beta trials with thousands of merchants across multiple locations within the country established the premise of the latest Commerce with a big increase in sales and improvement in margins for the participating merchants. We are now preparing to roll out the platform at a bigger scale,” Ambani said while addressing the 42nd AGM earlier this year.
Initially, JioMart is claimed to host products like daily staples, soaps, shampoos, and other home items. this is able to make things difficult for Amazon’s Prime Now that’s aimed to supply two-hour deliveries of grocery products.
The JioMart website shows that Reliance is about to bring specific Android and iOS apps within the coming future. The JioMart apps would let users place orders directly from their mobile devices. We’ve reached bent Reliance Retail for clarity on the event and can update this space once we hear back.
Reliance in March agreed to accumulate the logistics services platform Grab A Grub to reinforce its e-commerce venture. the corporate was also spotted handling software company C-Square that serves solutions to distributors, retailers, online e-commerce, and sales department automation.
In addition to acquisitions particularly focussed on online retail operations, Reliance is enhancing its presence within the worlds of AI (AI) and therefore the Internet of Things (IoT) to develop newer experiences for e-commerce customers.
While Jio Mart is going to be a full-fledged venture, RIL has been operating within the e-commerce space with AJIO.com, a fashion site launched in 2016 and a web store-front of electronic chains Reliance Digital.
It’s very nice to see a dedicated mobile application for JioMart is to be launched within the coming weeks, which can even be integrated with My Jio and Jio Money applications,Share