Reliance is all set to launch Jiomart in more than 200 cities beginning its pilot project for the users of Mumbai. Customers can use the site jiomart.com to purchase their groceries, fruits, vegetables, and other daily required stuff.
With the rising pandemic situation of Covid-19, Reliance Industries Ltd. has also announced its launch of an online grocery shopping portal across India. Damodar Mall, the chief executive officer of Reliance Retail’s grocery business said that Jiomart will be delivering in more than 200 cities. And it started its pilot project, the previous month by serving uses in their neighborhoods of Mumbai. The company decided to start the services in Nokha in Rajasthan, Bodhan in Telangana, Nagarcoil in Tamil Nadu, Tadepalligudem in Andhra, Rayagada, Odisha, and Darjeeling, Bengal.
Even though the Jiomart app has not yet been made alive, customers can log into the site, jiomart.com to buy groceries, vegetables, fruits, and other daily needed stuff. The companies aim is to go with the trend of the Covid-19 situation by moving from offline to online (O2O) segment and thus enter e-commerce. This new launch will definitely take the company a step ahead of the rival Amazon and Walmart’s Flipkart which is assumed to grow to $200 billion by 2027.
Mukesh Ambani’s Reliance Retail launched its grocery delivery service through Facebook’s WhatsApp in Thane, Mumbai, and Kalyan to deliver items like soap, shampoos, etc. previous month. This initiative was taken just after a few days of Facebook’s announcement to spend $5.7 billion for a 9.99 percent stake in the company’s digital unit, Jio Platforms. Jio Platforms’ valuation has surged to $65 billion within a month of Reliance industries raising $10 billion through five-stake sales in the digital unit. Facebook also expects that its partnership with JioPlatforms is going to help WhatsApp to get along with small business owners to connect them with their customers.
Mukesh Ambani is trying to bring down Reliance’s net debt of more than $20 billion down to zero before march 2021 by selling stakes in Jio Platforms. The main objective of Reliance is to shift away from oil and petrochemicals toward fast-growing consumer business.