What Reliance Industries has in store for JioMart

What Reliance Industries has in store for JioMart
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Reliance Industries Chairman Mukesh Ambani, along with Isha Ambani, unveiled plans of Reliance’s new commerce venture JioMart at the company’s 43rd AGM on Wednesday. 

Mukesh Ambani said that JioMart’s beta version is currently operational in 200 cities and is seeing over 2,50,000 orders a day.

As announced earlier during the Facebook-Jio deal, Mukesh Ambani said that JioMart and WhatsApp will be working closely, and that they want to ensure that “consumers are able to transact seamlessly with nearby kiranas using JioMart and WhatsApp.”

Addressing shareholders, Isha Ambani said that JioMart is built to digitally empower kirana stores, each of which is facilitated by a multifunctional point of sales machine. 

Isha added that JioMart is helping kirana stores grow their earnings and is also helping kirana stores into self-serviced stores in 48 hours.

Elaborating on the customer-side of JioMart, Isha said that the platform is currently delivering in over 200 cities and as an introductory offer, Jio is offering a COVID essential kit with every first order placed on JioMart.

Mukesh Ambani said that JioMart will link producers, traders, small merchants, consumer brands and consumers as well as reduce inefficiencies.

He added that they are accelerating the rollout of JioMart, and that they are piloting the beta version of the JioMart grocery customer online platform in 200 cities.

Speaking of the future plans for JioMart, Mukesh Ambani announced that it will soon be expanded to cover electronics, fashion, pharmaceuticals and healthcare in days ahead.

“JioMart is obsessed with providing convenience and a superior shopping experience to consumers. In addition to grocery, we will expand JioMart to cover electronics, fashion, pharmaceutical and healthcare in the days ahead. In the coming years, we will cover many more cities, serve many more customers across India, and expand to many more categories,” he said. 

“We will also strengthen collaborations with more entrepreneurs, brands and businesses to boost India’s consumption,” he added. 

JioMart is offering all grocery items at 5% below MRP. 

Reliance Retail, Ambani said, has seen an 8X growth in revenues and 11x growth in profits.

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