JIO MART
MUMBAI: Reliance Industries, India’s biggest company by market value, has started its web portal Jiomart, harnessing the might of its two largest consumer-facing businesses to announce its entry into online food and grocery shopping by early next year.
The app will connect both lastmile neighbourhood stores and consumers, leveraging data and technology capabilities of Reliance’s telecom business Jio and the cash-and-carry infrastructure of its retaili ..
Jio Mart will connect both the lastmile neighborhood stores and consumers by making use of the Reliance Jio network and its retailing arm. As per the company official, Jio Mart will partner with local grocers and equip them with points of sale (PoS) terminals, low-interest working capital, inventory management skills, and GST compliance. “Kiranas are being registered and given POS machines with integrated billing applications. Also, it enables digital transactions, promotions including loyalty, discount coupons by fast-moving consumer goods firms, and supply chain management,” says the official,
As a matter of fact, the company is already testing the Jio Mart service as it has begun a trial run on the same in some parts of Mumbai, including the likes of Thane, Kalyan, and Navi Mumbai. The company has given the Jio Mart the tagline ‘India ki nayi dukaan’ and, at least as of now, the website is offering free home delivery and pre-registration discounts on the orders. Moreover, the site has already listed more than 50,000 grocery products so far, and we can expect the list to grow all the way further by the time the Jio Mart service is available to everyone for good. Lastly, the Jio Mart service promises a no-questions-asked return policy and an express delivery promise.
As of now, these are still early days for the Jio Mart service, but given that the company has already started promoting it, and the service is running live in Mumbai, we can expect Jio Mart to reach wider audience once it is made available to more circles of the country.
Jio Mart is currently live in Navi Mumbai, Thane and Kalyan
Reliance Jio hinted towards its entry in the grocery delivery biz last year
Jio Mart’s competitors include Grofers, Bigbasket, Amazon and Flipkart
Mukesh Ambani-led Reliance has finally entered the grocery delivery market with its new hyperlocal Kirana stores-led retail emarketplace, Jio Mart.
Jio Mart is currently operating in Navi Mumbai, Kalyan and Thane. The company eventually plans to scale its operations to a national level soon.
Reliance’s chairman Ambani had hinted towards the company’s entry into the ecommerce segment last year. Then again in August 2019, at the Reliance’s 42 annual meet, it announced that it plans to connect three crore offline retailers to more than 20 Cr households with its latest venture.
Ambani also added, “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.”
Recently, Grofers announced that it is profitable in Delhi and is on the same path in Mumbai. In addition, the company also noted that it is at a break-even point in Kolkata, with Lucknow on the way. The company believes that this progress in its independent regional units would fuel its overall profitability.
On the other hand, Bigbasket has announced that it is close to the breakeven point in 10 Tier 1 cities, including Delhi, Mumbai, and Bengaluru, in the next three to four months. Bigbasket’s cofounder Hari Menon also announced that the company will start discussing its path to profitability in 2020-21.
In addition, even the major ecommerce players like Amazon and Flipkart have entered the grocery delivery businesses.
Thanks James ,for positive feedback
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