The online grocery market in India has been shaken up with the entry of Reliance Industries’ online grocery store, JioMart. JioMart is only 2 month old eCommerce venture owned by Reliance Industries and has already left behind Bigbasket and Amazon in the numbers of orders per day.
According to Reliance chairman Mukesh Ambani, JioMart is currently receiving orders at 250,000 per day. At the same time, the old players in the market such as bigbasket and Amazon pantry are receiving 220,000 and 150,000 orders per day respectively while another incumbent grofers is seeing 150,000 orders per day.
During the coronavirus induced nationwide lockdown, grofers and Bigbasket have seen per day orders to rise around 190,000 and 300,000 levels respectively. Also to be noted is the fact that the number of orders are slowing down with the gradual reopening of the economy.
JioMart was launched in May 2020 covering over 200 cities in the country and offering products across various categories including fruits, vegetables, dairy, personal care, bakery, home care and much more. In the recently conducted annual general Meeting, Mukesh Ambani said that he is planning to to further increment the scope of the service by including other verticals such as fashion, electronics, Pharma and healthcare. With this includes in the average order value is expected to rise from the current value of rupees 500 to 600 per transaction.
According to a report by brokerage Bank of American securities jioMart would extend the next phase of its growth in collaboration with WhatsApp. Jio and Facebook partnership would focus on intertwining the jioMart app inside WhatsApp which would bring convenience to the customers and trouble to the competitors full stop it would also give access to the people who are not so tech savvy to easily place orders.
The WhatsApp model on jioMart boys tried in locations such as Kalyan, Navi Mumbai and Thane and is expected to be e exposed to other cities will soon.Currently, WhatsApp has 400 million users in India which can be used for the benefit of jioMart.
Reliance has also combined the customer base it has received from Reliance fresh and Reliance smart in to jioMart along with onboarding kiranas. These kirana stores will act as delivery partners for the company. In its plans, it has also included the expansion of its offline stores which currently stand at 11784 to the online platform.