The website of JioMart with the tagline “India ki nayi dukaan” is a new market shopping adventure from Reliance Industries Limited.
This in turn is required to take on online grocery veterans Bigbasket and Grofers, as well as global e-commerce titans Amazon and Walmart.
The JioMart app can be soon soon downloaded on apple and android programs. Currently web assistance of JioMart is possible in the outskirts of Mumbai, in areas such as Navi Mumbai, Thane and Kalyan. And this will be scaled up nationwide quickly.
Power of the Jio Mart
- The app will not only connect customers, but also allow kiranasto order at discount rates from Reliance’s cash-and-carry stores, Reliance Market, to refill their stocks.
- At present, the web portal is giving pre- registration discounts of Rs 3000, claims to have 50,000 plus grocery stocks with free home distribution and no minimum order amount, no-questions-asked return policy and an express delivery promise.
At RIL’s 42nd Annual General Meeting Ambani had said that Reliance Retail aims to unite as many as 30 million neighbourhood stores through the investment.
He said that the main aim of the new business is to completely change the random retail market, which accounts for 90% of India’s retail industry.
Aim of the Jio Mart
- Reliance Retail, with 10,901 stores across the country, runs India’s largest chain of neighbourhood supermarket stores and consumer electronics stores besides being the top bulk supplier to nation’s army of small merchants.
- The new investment JioMart on which Reliance was working for two years, will join local grocers through technology, an offline-to-online initiative and they will be equipped with points of sale terminals.
The pilot site presents an early glimpse of how the energy-and-petrochemicals conglomerate controlled by Asia’s richest man is moving up consumer donations in a shaft toward newer businesses.
With the unveiling of the portal, Reliance Industries will join the battle with Flipkart Online Services Pvt. for a part of an e-commerce market that KPMG says is set to grow to $200 billion by 2027.
Ambani, 62, is giving contour to his online retail objectives by contributing billions of dollars on a series of small additions. The newer markets, including telecommunications and retail, are likely to provide 50 per cent of Reliance Industries’ earnings in a few years, from about 32 per cent now, Ambani said in August.