Mukesh Ambani led Reliance Industries Limited (RIL) has launched its e-commerce venture called JioMart. Operated by Reliance Retail, which is the retail arm of RIL.
Billionaire Ambani first hinted at the e-commerce venture by calling it “new commerce initiative” last year.
The Mumbai-based company is projected to connect three crores offline retailers with over 20 crores households in the country through the latest venture.
To kick off its e-commerce operations, Reliance Retail has started taking pre-registrations for JioMart. The new venture is touted to offer a portfolio of over 50,000 grocery products along with offerings such as free home delivery against no minimum order value, no questions asked return, and express delivery promise.
These conditions would help Reliance divert customers who use Amazon and Flipkart for grocery shopping.
The company is also giving away discounts upto ₹3,000 for Jio users.
Instead of establishing its native warehousing, Reliance is building JioMart on an online-to-offline (O2O) marketplace under which it will source grocery items from nearby merchants, similar to what Amazon Prime Now and Grofers used to do earlier.
Reliance in March agreed to acquire logistics services platform Grab A Grub to augment its e-commerce venture. The company was also spotted dealing with software company C-Square that serves solutions to distributors, retailers, online e-commerce, and sales force automation.