Reliance Industries Limited (RIL) has just announced the soft launch of its much-anticipated e-commerce service called JioMart. The company is terming this new company as its latest “new commerce” venture to take on the existing rivals. These rivals include e-commerce giants including Amazon and Flipkart in the Indian market. The information regarding JioMart confirmed that this is just a soft launch in select areas near Mumbai. The retail division of RIL, Reliance Retail has also started sending invites to Jio subscribers regarding JioMart. Reliance Retail is calling JioMart as “Desh Ki Nayi Dukaan”. Also Read - Amazon in talks with Mukesh Ambani's Reliance Retail for stake sale: Report
Reliance JioMart details
According to a report from LiveMint, JioMart is currently servicing online shoppers located in select suburban areas of Mumbai. These areas include Navi Mumbai, Thane, and Kalyan. The company is planning to gradually scale up its presence as it refines its operations. As part of the soft launch, RIL confirmed that it is offering “preliminary discounts” to Reliance Jio subscribers. It is also currently working on the JioMart app to make things easier. The service currently allows its users to choose from more than 50,000 grocery products along with free home delivery. It is also worth noting that JioMart does not come with any minimum order value, express-delivery, and “no-questions-asked” return policy. Also Read - Mukesh Ambani's Reliance prepares to challenge Amazon in Indian e-commerce
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Taking a closer look, “New commerce” is a new offline-to-online RIL initiative. Here, RIL aims at connecting traders, producers, small merchants, and brands directly with customers through technology. As per the report, the company has been working on a new commerce plan for almost about two years. After brainstorming about a new strategy, RIL also currently runs supermarkets, neighborhood stores, wholesale shops, hypermarkets, online stores, and specialty stores. Also Read - Reliance to launch e-commerce platform; will go against Amazon, Flipkart, and more
RIL is also working towards offering an online-to-offline marketplace for local merchants. This will make Reliance JioMart similar to Alibaba in China. Inspecting Alibaba’s business model, buyers search for products online and then shop in a physical store. This strategy will also provide JioMart with an edge over Amazon and Flipkart.