Reliance JioMart similar to Alibaba in China. Inspecting Alibaba’s business model, buyers search for products online and then shop in a physical store
Reliance JioMart details
According to a report from LiveMint, JioMart is currently servicing online shoppers located in select suburban areas of Mumbai. These areas include Navi Mumbai, Thane, and Kalyan. The company is planning to gradually scale up its presence as it refines its operations. As part of the soft launch, RIL confirmed that it is offering “preliminary discounts” to Reliance Jio
What is JioMart
JioMart is an online grocery delivery service, powered by Reliance Retail and Reliance Jio, where consumers can head over to buy essential household items from nearby retailers. The platform does not sell groceries directly to the customers but instead, connects offline retailers with online buyers. The JioMart is an online-to-offline (O2O) marketplace under which it will source grocery items from nearby merchants, instead of procuring from a native warehouse– similar to how Amazon Prime Now and Grofers started their business.
JioMart will serve as a platform for offline retailers to cater to customers in their locality who want to buy groceries online. At the RIL’s (Reliance Industries Limited) 42nd annual general meeting (AGM), Ambani said that, through the latest venture, the company is projected to connect three crore offline retailers with over 20 crores households in the country.
Reliance Retail, Reliance Jio powering the JioMart
In the grocery market, Reliance Retail already has a strong offline presence as Reliance Fresh all over the country. Coupled with Reliance Jio, the new venture aims to make the most out of the available resources at RIL.
Last year, Reliance acquired logistics services platform Grab A Grub to augment its e-commerce venture. The company was also reported dealing with the software company C-Square, which serves solutions to online e-commerce, distributors, retailers, and sales force automation.