Reliance Industries Limited has recently launched its e-commerce platform, Jio Mart, pitting it against online e-commerce behemoths, Amazon and Flipkart.
News is that Jio Mart is planning to extend its operations to cover electronics, fashion, pharmaceuticals, and healthcare under its umbrella. Initially, the platform took care of delivering groceries and electronics.
Find out more details about this development right here!
Reliance Jio Mart Extending To Include Fashion, Pharmaceuticals And Healthcare
The pilot venture of Jio Mart was launched in 200 cities and there are reports that the platform takes up over 2,50,000 orders every day. The growth model of the Reliance Retail is reportedly based on its collaboration with small merchants and shopkeepers.
And now, the platform is planning to expand its scope to include electronics, fashion, pharmaceuticals, and healthcare as well.
Reliance Retail has a network of 12,000 stores across the country – two thirds of these are based in tier two, three, and four towns to help the platform compete more effectively against Amazon and Flipkart.
We all know that Reliance Industries is also discussing taking over the retail businesses of Future Group.
Reliance Retail To Induct Global Partners; Jio Mart On Whatsapp To Boost Use
In the next few years, Jio Mart is planning to expand to more cities and include more categories to the platform. It is planning to cement its partnership with more brands, businesses and entrepreneurs too, and also induct global partners in the next few quarters. Reliance Retail has also been the recipient of interest from strategic and financial investors.
Mukesh Ambani, chairman of RIL said, “This seamless connection will provide a huge boost to India’s consumption which in turn will strengthen country’s existing manufacturing capacity as well as enable new start-ups.. . and over time, India can be a large manufacturing hub for meeting our own growing consumption needs.”
Jio Mart recently went live on Whatsapp too, to make transactions between grocery stores and consumers simpler. Whatsapp is used by as much as 400 million users, which will definitely help boost the operations of the platform. Facebook has also invested Rs 43,574 crore in the platform, which makes FB the owner of a 9.99% stake in Reliance Jio.
With the Coronavirus pandemic spreading high and low in the country, there is no possibility that the brick and mortar stores will be opening any time soon. However, Reliance’s Jio Mart was launched to definitely help connect consumers and kirana stores and make shopping for groceries and daily necessities easier in this critical time.