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Saturday 6 June 2020

Reliance Jio Mart: Indian competition to Amazon, Flipkart

Reliance plans to create the world's largest online-to-offline e-commerce market, calling the digitally connected stores 'new commerce'

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The trend of online shopping in India is growing rapidly. People are on a fierce buying spree on Amazon and Flipkart applications. But in the year 2020, these big e-commerce companies may face a fresh challenge as Reliance Retail Ltd of Reliance Industries Ltd, owned by India’s richest man Mukesh Ambani, has soft-launched Jio Mart.

The company has started sending invitations to Jio Telecom users for registration at Jio Mart. The company is calling Jio Mart a “new store in the country”. It will begin in Navi Mumbai, Thane and Kalyan in Mumbai. Through Jio Mart, users will get more than 50,000 grocery products with free home delivery.

Reliance Retail has officially announced the launch and said that Jio Mart would be expanded in the coming times. In this context, an official said, “We have launched Jio Mart. For this, Jio users have been invited to register for the initial discount. It is currently available in three locations but will be expanded soon. The Jio Mart app will also be launched soon.”

Earlier in the AGM held on 12 August, Mukesh Ambani said that Reliance was going to change the appearance of grocery market soon. The company plans to create the world’s largest online-to-offline e-commerce market in the country. Reliance has given it a name: “New Commerce”. Under Reliance’s new retail plan, a high-speed digital platform will be connected to grocery stores, which can be used to supply orders to customers.

There are about three crore grocery shopkeepers or traders in the country, who are directly or indirectly connected with the livelihood of 200 million people, and these people form the country’s commerce eco-system.

In addition, the AGM stated that Reliance will provide point-of-sale (POS) machines to grocery stores at cheaper prices. Where other companies are giving this machine for Rs 50,000, Reliance will give it for just Rs 3,500.

Mostly, the unorganised sector runs grocery stores in neighbourhoods of India. These grocery stores are trying to upgrade their technology, which is accelerating digitisation. The venture of Reliance is being seen as complementing them rather than threatening their existence.

After the government disallowed Amazon, Flipkart and other e-commerce sites from selling goods from their subsidiaries, the choice of price shrunk for the consumers. It is to be seen whether the government gives differential treatment to Jio Mart or stops it from in-sourcing as well.

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