2020 might be challenging for the eCommerce world as business tycoon Mukesh Ambani after getting excellence in offline world is all set to enter the digital world in a full-fledged manner.
After 2 years of continuous planning Reliance Industries Ltd through its retail segment Reliance Retail Ltd is all set to challenge the global e-commerce giants Amazon and Walmart with its new eCommerce venture. The announcement got aired after the company started sending the invites to its Jio users to get registered on a new venture named ‘JioMart’ and get discounts on Monday.
The company named it as ‘Desh Ki Nayi Dukaan’ and will cater to the grocery need of shoppers in suburban Mumbai areas of Navi Mumbai, Thane and Kalyan as if now.
An official at Reliance retail official confirmed that the company would scale up its presence gradually.
JioMart is offering more than 50,000 grocery products with free home delivery and no minimum order value, no-questions-asked return policy, and an express delivery promise. This will surely affect the business of other online grocery stores like Grofers and Bigbasket.
As mentioned by company officials, that company is looking to add more products like daily staples, soaps, shampoos and other household items.
The company is also in the process of signing up with local merchants offering them a switch from offline to online and a business model pioneered by Chinese e-commerce giant Alibaba Group Holding Ltd. Under the O2O model, a consumer searches for the product or service online but buys it from a physical store.
This allows the new eCommerce giant to get in touch with local merchants which will cater to the local area needs and will also help reliance in cost savings and enter areas outside the range of other online retailers.
The owner of Reliance Industries said at the company’s annual general meeting on 12 August that Reliance retail aims to connect around 30 million neighborhood stores through this consolidation. These stores are directly or indirectly source 20 crores people in their living and they only together make the entire commerce ecosystem.
The Jiomart app can be downloaded on Apple and Android platforms.
The Reliance is planning to make it the biggest Online to Offline (O2O) market and said it as new Commerce.
More about reliance
Recently the owner of Reliance industries saw a surge of $18 million in his net leaving behind the Alibaba Group founder Jack Ma and Jeff Bezos. Since its establishment in 2006, Retail is having 10,901 stores across the country with India’s largest cash and carry chain. It also runs the largest chain of neighborhood stores, supermarkets, hypermarkets, wholesale, specialty, and online stores and has become the top wholesale suppliers to a large number of small shopkeepers.
Hamleys is one of the oldest and largest toy shops in the world and is also one of the best retailers of types has been acquired by Reliance Retail in 2019.