Reliance Industries (RIL) has taken its e-commerce platform JioMart live in an attempt to take on rivals Amazon and Flipkart. Pilots were carried out in Navi Mumbai, Thane and Kalyan.
Jiomart, an online-offline model that combines the strengths of Reliance Jio and Reliance Retail, has started offering products at a minimum 5% discount to the maximum retail price on select products.
“Farm produce will directly be sourced from farmers that have collaborated with the brand,” said the JioMart website.
JioMart has started offering more than 50,000 products in the fruits and vegetables, dairy and bakery, staples, snacks and branded foods, beverages, personal care, home care and baby care categories, according to its website.
Customers can get free home delivery on no minimum-order value, with a no-questions-asked-return policy. The website asks customers for their PIN code to inform them whether they are delivering in the area.
During RIL’s annual general meeting some time back, chairman Mukesh Ambani had hinted at the company’s foray into ‘new commerce’ which, he said, was a $700-billion opportunity.
“The main purpose of new commerce is to completely transform the unorganised retail market, which accounts for 90% of India’s retail industry. The three crore merchants and kirana shop owners, who generate direct and indirect livelihoods for over 20 crore people, form the backbone of India’s commerce eco-system,” he had said.
Facebook and WhatsApp had signed a commercial agreement with Reliance Jio over JioMart so that the online venture’s customers can place order through the social media platforms.