Reliance has been in headlines in last few weeks because of the back to back funding it has been receiving. The much-awaited e-commerce platform, JioMart is finally rolled out for other cities ad compared to a few pin codes in Mumbai. The launch will play a crucial role in defining the e-commerce grocery market which is highly dominated by BigBasket and Grofers.
JioMart is live in Mumbai, Chennai, Kolkata, Hyderabad, Delhi, Bengaluru, Jaipur among other Tier II cities. The trial version of JioMart was operating out of WhatsApp business account. The platform has essential groceries as well as fresh farm produce which will be directly sourced from farmers that have partnered with the company.
The new venture is a competition against micro delivery platforms like Swiggy’s SuprDaily, BBDaily, Milkbasket and farm to fork business Ninjacart. JioMart currently covers everything from groceries, FMCG products to consumer goods. Mukesh Ambani plans to innovate the Online-to-Offline space through the platform which will affect every big name in the industry like Amazon, Flipkart, Swiggy, Paytm, Zomato, Cure.Fit, Meesho among others.
Reliance is ready to take over the market considering its omnichannel approach. Jio has raised massive Rs 78,562 crore in five rounds of investment in about a month from Facebook, General Atlantic, KKR and Vista.
All the other companies in the business definitely will have to brace themselves to fight the conglomerate as Reliance is the largest offline retailer with huge cash reserves. The Indian e-commerce business has become more interesting with Reliance stepping in the business and at a time when two major players are world’s largest online and offline companies, Walmart and Amazon. The coming months in the e-commerce industry will witness competitions from the best in the market and it will be a sight to behold.