Reliance Industries Limited (RIL) recently announced the launch of JioMart – an e-commerce venture that will deliver groceries and other household essentials. It has been launched on a pilot basis in parts of the state of Maharashtra including Navi Mumbai, Kalyan, and Thane. The platform will not sell groceries directly to the customers but instead, will connect offline retailers with online buyers. It is basically an online-to-offline (O2O) marketplace under which it will source grocery items from nearby merchants.
Ambani at the RIL’s (Reliance Industries Limited) 42nd annual general meeting (AGM) said that, through the latest venture, the company is projected to connect three crores, offline retailers, with over 20 crores households in the country.
During the 42nd AGM, Ambani said, “Our beta trials with thousands of merchants across multiple locations in the country established the premise of New Commerce with a significant increase in sales and improvement in margins for the participating merchants. We are now getting ready to roll out the platform at a larger scale.”
RIL has also started taking pre-registrations from retailers to become a seller on the venture they are calling “Desh Ki Nayi Dukaan” (country’s new shop). According to a report by ET, as an aggregator, JioMart will partner local grocers and equip them with points of sale (PoS) terminals, integrated billing applications, low-interest working capital, inventory management skills, supply chain management, and GST compliance.