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Finance & Economics

New e-commerce platform offers online grocery retailing in India

Feb 07, 2020

JioMart aims to bring in electronics, clothing, and footwear in the near future

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New e-commerce platform offers online grocery retailing in India. Source: shutterstock.com

Reliance Industries Limited (RIL) has entered India’s online grocery retailing via JioMart e-commerce platform, GlobalData reveals. India’s online food and grocery grew at a compound annual growth rate (CAGR) of 71.2% between 2013-2018.

The company intends to offer more than 50,000 products via the JioMart platform. Their integration will enable the connection of 30 million offline retailers with more than 200 million households across India.

RIL’s JioMart eyes the massive potential in online F&G retailing, which is estimated to reach $9.17 billion in 2023. Reliance is known for its disruptive ideas and business approach, and the same can be said for its latest venture, JioMart. With its retail wing in cash and carry outlets through Reliance Fresh and Reliance Supermart, and a massive customer base with India’s largest telecom network in the form of Jio, capturing the market is not going to be tough for JioMart. Being a domestic company, Reliance gets the advantage that Amazon and Walmart owned Flipkart miss due to the new e-commerce regulations to safeguard the interests of domestic offline retailers in the country
Suresh Sunkara, Retail Analyst at GlobalData

The value chain created by JioMart connects local offline retailers on a large scale with its merchant POS solution. It provides user-friendly digital platforms for inventory management, customer care services, etc required by the retailers.

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