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Reliance announces Jiomart to take on the online grocery shopping business

Well, the website of JioMart with the tagline “India ki nayi dukaan” is a a new grocery shopping experience from Reliance Industries Limited, the country’s most valued firm.

This in turn is expected to take on online grocery specialists- Bigbasket and Grofers, as well as global e-commerce giants Amazon and Walmart.

The JioMart app can be soon soon downloaded on apple and android platforms. Currently web services of JioMart are available in the outskirts of Mumbai, in suburbs such as Navi Mumbai, Thane and Kalyan. And this will be scaled up nationally soon.

The app will not only connect consumers, but also enable kiranas to order at wholesale rates from Reliance’s cash-and-carry stores, Reliance Market, to refill their stocks.

At present, the web portal is offering pre- registration discounts of Rs 3000, claims to have 50,000 plus grocery products with free home delivery and no minimum order value, no-questions-asked return policy and an express delivery promise.

Reliance Retail, on Monday began sending invites to Jio telecom users for registering on the new commerce named JioMart.

At RIL’s 42nd Annual General Meeting Ambani had said that Reliance Retail aims to connect as many as 30 million neighbourhood stores through the venture.

He said that the main aim of new commerce is to completely transform the unorganised retail market, which accounts for 90% of India’s retail industry.

Reliance Retail, with 10,901 stores across the country, runs India’s largest chain of neighbourhood supermarket stores and consumer electronics stores besides being the top wholesale supplier to nation’s army of small shopkeepers.

The new venture JioMart on which Reliance was working for two years, will connect local grocers through technology, an offline-to-online initiative and they will be equipped with points of sale terminals.

Hamleys, the oldest and largest toy shop in the world and one of the world’s best-known retailers of toys was acquired by Reliance Retail in 2019. Reliance Retail valuation is double that of Avenue Supermarts Ltd., which runs India’s biggest supermarket chain.

Source: Business Standard