Reliance JioMart is finally here. Reliance Industries has been working for a long on this project to take on some of the top e-commerce platforms such as Flipkart and Amazon.
On Monday, the company sent out invites to Jio telecom users for registering on the new venture. Reliance JioMart launch in India is being marketed as “Desh Ki Nayi Dukaan“. The e-commerce platform will initially cater to online shoppers living in Navi Mumbai, Thane, and Kalyan regions, with plans to scale it up gradually through the country.
According to a report by Mint, Reliance Retail has sent an invite to Jio users to register for JioMart and avail preliminary discounts. The website of the venture shows that early customers would get up to Rs. 3,000 for pre-registration.
RIL Chairman Mukesh Ambani first hinted at the company’s e-commerce venture by calling it “new commerce initiative” last year. The Mumbai-based company is projected to connect three crores, offline retailers, with over 20 crores households in the country through the latest venture, Ambani had said at RIL’s 42nd annual general meeting (AGM) in August.
JioMart reportedly has over 50,000 grocery products available on purchase in its stores. These products will be delivered free to your door-step, with no minimum order value, no-questions-asked return policy, and an express delivery promise. JioMart is likely to connect producers, traders, small merchants, and others through technology. JioMart will run alongside the company’s existing lineup of businesses, including neighbourhood stores, supermarkets, hypermarkets, wholesale, speciality, and online stores.
Reliance Industries Limited is starting this JioMart in a completely different way than others. Instead of establishing its native warehousing, Reliance is building JioMart on an online-to-offline (O2O) marketplace under which it will source grocery items from nearby merchants, similar to what Amazon Prime Now and Grofers used to do earlier.
“Our beta trials with thousands of merchants across multiple locations in the country established the premise of New Commerce with a 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,” Ambani said while addressing the 42nd AGM earlier this year.
As mentioned earlier, JioMart is currently accepting pre-registration from users and is now available in only Navi Mumbai, Thane, and Kalyan regions. However, RIL will expand to more region in the coming ways.
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