Reliance Jio’s Ecommerce Launches In Mumbai: Will ‘My Jio Mart’ Disrupt Amazon, Flipkart’s Business In India?
Jio has been long since talking about their venture in a new retail vertical – an online grocery platform, My Jio Mart. And finally, the Mukesh Ambani led behemoth has launched this service, pitting it against other popular online grocery platforms, such as Bigbasket and Grofers.
At the 42nd Annual General Meeting, Reliance’s Chairman Mukesh Ambani had announced that they will be launching a new e-commerce plan, which will be an opportunity worth $700 billion, and empower 30 million small traders and merchants.
Here are all the details about Reliance Jio’s newly launched online grocery store, My Jio Mart!
Reliance Launches Online Grocery E-Commerce Platform ‘My Jio Mart’
Reliance Industries Limited (RIL), led by Mukesh Ambani, has launched a new e-commerce platform for grocery shopping, named My Jio Mart. The talks about the industry’s plans to launch this new vertical have been going on for quite some time now.
My Jio Mart is RIL’s most ambitious, hyperlocal Kirana-led retail project and will compete against some well established similar platforms, such as Bigbasket and Grofers. There are also larger platforms such as Amazon and Flipkart.
As per sources, “What Reliance will do is to integrate the inventory and other grocery products from the neighbourhood kiranas on the platform. On its part, the company will also supply products to the kiranas at wholesale rates by aggregating purchasing requirements.”
They have also said that Kirana stores have already been invited to get themselves registered on the platform. Some of the products from the connected grocery stores can be seen on the platform already.
Reliance also has retail stores that delve into multiple verticals from neighborhoods and supermarkets. Reliance Retail has over 100,091 stores across 7000 towns in India.
Reliance’s My Jio Mart: All You Need To Know!
The first markets that will be tested for this platform will be Kalyan, Navi Mumbai, and Thane, in Maharashtra and will soon be made national as well.
An app of the Jio Mart will soon be available for customers to download, and use it to order groceries. It will also allow Kirana stores to restore their stocks from Reliance’s cash-and-carry stores, Reliance Market.
The primary objective behind Reliance’s My Jio Mart would be to empower small businesses to compete with the larger ones.