Mukesh Ambani’s Reliance Industries Limited (RIL) recently announced the soft-launch of JioMart– an e-commerce venture in order to deliver groceries as well as other household essentials. The platform, which has been powered by Reliance Retail and Reliance Jio, has been launched on a pilot basis in parts of the state of Maharashtra comprising Navi Mumbai, Kalyan, and Thane.
Reliance launches online grocery platform JioMart
With the help of this article we are to discuss everything you should know about Ambani’s latest venture– JioMart.
About JioMart
JioMart is an online grocery delivery service, that has been powered by Reliance Retail and Reliance Jio, where consumers can head over in order to buy essential household items from neighbouring retailers. The platform does not sell groceries straight to the customers but in its place, connects offline retailers with online buyers. JioMart is going to serve as a platform for offline retailers to cater to customers in their locality who want to buy groceries online.
At the RIL’s (Reliance Industries Limited) 42nd annual general meeting (AGM), Ambani also stated that, through the latest venture, the company is likely to connect three crore offline retailers with over 20 crores households in the nation.
JioMart app coming soon
While JioMart is limited to Maharashtra as of now, it is going to be gradually expanded across India to compete directly with Amazon Prime Now, Grofers, Big Basket, and Flipkart.
Throughout the 42nd AGM, Ambani said, “Our beta trials with thousands of merchants across multiple locations in the country established the premise of New Commerce with significant increase in sales and improvement in margins for the participating merchants. We are now getting ready to roll out the platform at a larger scale.”
A Reliance Retail official told the LiveMint that the company is soon going to launch an app for JioMart. The JioMart website also mentions the upcoming launch of Android and iOS apps for JioMart. The website on the other hand highlights that the platform is going to offer over 50,000 grocery products at aggressive pricing.
Retailers on JioMart
As already stated, RIL has started taking pre-registrations from retailers to grow into a seller on the venture they are calling “Desh Ki Nayi Dukaan” (country’s new shop). According to the report by ET, as an aggregator, JioMart is going to partner local grocers and prepare them with points of sale (PoS) terminals, integrated billing applications, low-interest working capital, inventory management skills, supply chain management, as well as GST compliance.
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