Reliance Retail has reportedly begun working on a big transformation of JioMart, the e-commerce arm of the Reliance Industries Limited subsidiary.
Apparently, the company plans to make it into a super app and will integrate multiple consumer offerings from Just Dial as well.
Read on to find out all the details!
Reliance To Transform JioMart Into Super App; Will Integrate JioMart With WhatsApp
The Mukesh Ambani led Reliance Industries Limited (RIL)’s subsidiary Reliance Retail plans to transform the JioMart app into a super app. This will reportedly be a one stop shop for customers and serve all their requirements.
What’s even more interesting is that it will also be integrated with WhatsApp, similar to the Chinese social e-commerce platform WeChat. Ambani had also announced a bunch of integration between Whatsapp and JioMart on a trial basis.
Reports have confirmed that the company is already in the last stages of development of the app. The launch of the same will be as soon as the government announces any clarity on the e-commerce policy.
Reliance’s Acquisition Of Just Dial And Integration With WhatsApp
We recently reported to you that Reliance Retail Ventures Ltd (RRVL), is acquiring a majority stake in local search company Just Dial for Rs. 3,497 crores.
The company is acquiring the local search engine, which boasts more than 30 million listings of enterprises across the web, apps and voice platform.
According to a statement released by Reliance Retail, the firm will own a 40.95 per cent stake as per the definitive agreements signed on July 16, and the company would make an open bid to buy up to 26 per cent following market regulator SEBI’s takeover requirements.
Just Dial has an existing database of 30.4 million listings and consumer traffic of 129.1 million quarterly unique users (as of 31 March 2021).
There also was news that Reliance Retail Ltd will embed its e-commerce app JioMart into WhatsApp within six months. With this implementation, over 400 million users of India’s most popular messaging service could order products without having to leave the app.
According to analysts, Reliance Industries Ltd’s JioMart could become the fastest-growing e-commerce platform in India, rivaling the existing players in this segment such as Amazon India and Flipkart. RIL’s online gross merchandise value (GMV) will reach $35 billion in FY25 with a 31% share of the e-commerce market from around 1% now, according to Goldman Sachs.
Comments are closed, but trackbacks and pingbacks are open.