JioMart Pilot Project Launched, Reliance's Online Grocery Store Venture to Challenge Amazon, Grofers

Mumbai, December 31: Reliance Retail Ltd, the retail arm of Reliance Industries Limited (RIL), is all set to take on e-commerce giants by launching its new e-commerce venture JioMart. The Kirana-led retail project is expected to challenge Grofers, Bigbasket and e-commerce giants Amazon and Walmart-backed Flipkart. The new venture has been initially launched as a pilot project for the customers in Navi Mumbai, Kalyan and Thane. RIL Chairman and billionaire Mukesh Ambani first hinted about JioMart by calling it "new commerce initiative" last year.

Terming it "Desh Ki Nayi Dukan" (the country's new shop), JioMart will offer over 50,000 grocery products, free home delivery with no minimum order value, express delivery and no-questions-asked return policy, as highlighted in the official website of JioMart. Reliance Industries Hits Rs 10 Lakh Crore Market Cap, Becomes First Indian Company to Touch Milestone.

The company has been working on this project for nearly two years. According to a report in Mint, RRL sent invites to Jio users for registering on JioMart. The website states that early customers will get benefits up to Rs 3,000 for pre-registration.

Instead of establishing its warehouse, JioMart will be built as an online-to-offline (O2O) marketplace under which Reliance would link nearby merchants, traders, brands. This means that the new venture will work as offline retailers to cater online customers in their locality. RRL aims to connect as many as 30 million stores.

(The above story first appeared on LatestLY on Dec 31, 2019 01:56 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).