In April 2020, Reliance Industries Ltd launched JioMart, an e-commerce website on the Jio platform. JioMart is an online grocery shop that delivers 50,000+ grocery items at a discount to your home via a fast delivery system. It is based on a demand-driven model. The website began operations in Thane, Kalyan and Navi Mumbai and eventually expanded throughout India. Customers responded positively to the service, and the firm is currently expanding its presence in other Indian cities and villages. JioMart has developed a digital pan-India infrastructure in collaboration with local Kirana stores and its retail outlets.
Instead of employing a warehouse infrastructure, the firm works with local shops. The grocery goods are sourced by these shops and delivered to the customers.
Reliance plans to compete with existing grocery platforms in India, such as Swiggy, BigBasket, Zomato, Grofers, and others, via JioMart. Some interesting facts regarding the e-commerce platform are listed below.
Jiomart Does Not Have Any Warehouses
Jiomart Selling Platforms
How Does Jiomart Work With Retailers?
A Retailer Can Become A Jiomart Seller
Why Is Jiomart Such a Strong Competitor?
Jiomart's Features
Mukesh Ambani's Jiomart Aims
Jiomart Supported through Reliance Aquisitions
Jiomart's Business Strategy
Jiomart's Competitors
Conclusion
FAQs
Jiomart Does Not Have Any Warehouses
JioMart, unlike its competitors Flipkart and Amazon, does not stock its items in massive warehouses. To supply merchandise, they have partnered with local retailers or Kirana stores.
Jiomart Selling Platforms
Fresh fruits and vegetables, groceries, snacks, drinks, home & household basics, beauty & hygiene, and infant care are just a few of the supermarket items available at JioMart.
You may purchase and order things using the Jiomart website and app. Previously, Jiomart teamed with Mark Zuckerberg through Facebook-owned WhatsApp, and the two companies joined together to improve JioMart's service and reach out to WhatsApp customers. Users may submit orders over Whatsapp, which would make it easier for clients who are not comfortable using digital platforms to shop from JioMart. As a result, the service became much more user-friendly.
How Does Jiomart Work With Retailers?
Jiomart links with local businesses and delivers items to clients by obtaining them from the closest store in the customer's neighbourhood. To place the order, the consumer will utilise their official WhatsApp number.
The user will get a bill that must be paid in cash after confirmation. When the order is ready, the client will be notified and instructed to pick up the order from the store.
Ashwini
A Retailer Can Become A Jiomart Seller
Any retailer can easily be a seller at JioMart. To become a vendor on JioMart, a retailer must first register. Store owners may use the JioMart app to display their inventory, take orders, make deals, and manage online sales after registering. JioMart would make sure that vendors using its platform have a pleasant selling experience. Retailers will be provided with the necessary assistance to ensure that items are delivered to customers promptly.
Why Is Jiomart Such a Strong Competitor?
In comparison to competitors such as Amazon, Jiomart provides lower costs to merchants and has a significantly greater portion of the distribution pie. JioMart, unlike other e-commerce platforms, works with small businesses. It serves as a distributor, distributing items to merchants and fulfilling orders for JioMart through its small shop network.
JioMart presently delivers 250,000 orders every day, and the e-commerce site has ambitions to expand into electronics and other categories shortly. At the moment, JioMart is offering all food goods at a discount of 5% off the MRP. It is even less expensive than Amazon, Flipkart, Zomato, and Swiggy. JioMart also provides a larger selection of items than other e-commerce sites and no order limits.
Reliance Retail has a 20% share of the grocery market among organised companies and is 40% larger than the second-largest competitor, DMart.
The firm has a 5% organised segment share in fashion retail, which is more than 50% greater than competitors like Aditya Birla Fashion (ABFRL).
Jiomart's Features
Every e-commerce site has a minimum order requirement to qualify for free delivery. However, Jiomart has no such need. According to the firm, there is no minimum order for free home delivery. The firm plans to deliver orders placed on Jiomart within one to two hours, with large purchases arriving the same day or the following day. Every product on JioMart has a minimum discount of 5% and can go up to a maximum value of 50%.
The firm should accept things returned without inquiry, making the service more customer-friendly.
Mukesh Ambani's Jiomart Aims
JioMart was not an impulsive action by Mukesh Ambani but rather a well-thought-out strategy to grab the lucrative e-commerce market. By 2021, the domain is expected to be worth $1.2 trillion. His superb effort reflects his aim to compete with global e-commerce behemoths like Amazon and Flipkart, controlled by Walmart.
Jiomart Supported through Reliance Aquisitions
In 2019, JioMart was supported by the Reliance acquisitions of Grab A Grub and C-Square.
Grab A Grub is a logistics firm based in India that was formed in 2013. It was purchased for $14.9 million in March 2019 by Reliance Industrial Investments and Holdings Limited to assist Jio Mart logistics. Grab was selected because it has a track record of success with mega-brands, including McDonald's, BigBasket, Myntra, Amazon Now, and Swiggy.
C-Square Info Solutions Private Limited, created in 2002, offers software solutions for e-commerce, retail, salesforce, and other industries. RIIHL purchased it in March 2019 for $11.56 million. RIL made this strategic decision to boost JioMart's business strategy.
Jiomart's Business Strategy
The Chinese e-commerce giant Alibaba Group Holding Ltd pioneered Jiomart's business strategy. It offers online to offline model (O2O). A user looks for a product or service online but purchases it through an offline channel under the O2O model.
Jiomart's Competitors
Because of its massive success, Ambani's Jio cellular service pushed a lot of other cellular networks on the verge of going out of business. This might be the case for Ambani's current endeavour, as well as all of its competitors.
JioMart may have Amazon and Flipkart on its radar, but in its current form, the firm will be a bigger nuisance for Grofers and BigBasket, India's leading grocery delivery companies- Swiggy and Zomato, too, have just entered the grocery delivery market in India.
Conclusion
With the advent of the largest player in the Indian industry, incumbent grocery delivery businesses face a major challenge. JioMart has various advantages over its competitors, in addition to having a well-known brand name.
Jio's entry into the telecom industry sparked a revolution and changed the tables. Big names like Airtel and Vodafone, who had ruled for years, were knocked off their perches. It remains to be seen if Jio will be the market leader in online grocery delivery.
FAQs
Who is the founder of JioMart?
JioMart is a product of Reliance Industries, owned by Mukesh Ambani.
When was JioMart launched?
JioMart was launched in areas near Mumbai in April 2020. It was successfully launched in 200 cities in May 2020.
Can non Jio users use JioMart?
Yes, JioMart can be used by non Jio customers.
What is JioMart model?
JioMart works as O2O model (Online to Offline model) where users can order online and order gets delivered offline.
Author: Ria Puneyani
Source : https://startuptalky.com/jiomart-interesting-facts/
Date : 2021-11-23T08:55:50.000Z