Reliance Retail, as we all know, has started operations of its service comprising instant grocery delivery under the brand Jio Mart Express, a new platform, and app. In the initial stages, the company conducted trials in Navi Mumbai. More about Jio Mart is in the paragraphs that follow.
Reliance Jio Mart – Surging ahead of Competitors
The company has plans to extend the services by the end of the year to cities that will be more than 200 in number and will also include towns where Jio Mart operates now. With the company’s entry into the instant grocery delivery business, it will compete with companies like Bigbasket, which is owned by Tata, Blinkit, funded by Zomato, and Flipkart Quick, owned by Walmart and Swiggy’s Instamart.
Unlike Zepto and Blinkit, which promise a 10-minute delivery of the order, Jio Mart Express promises delivery within 90 minutes. Still, there is no minimum value that must be placed as an order, although customers can enjoy free deliveries if they place an order above INR 199.
Reliance Retail stores fulfill the deliveries of orders by Jio Mart Express. In the Jio Mart grocery category, you can expect groceries, home care, and personal care products. Medicines, smartphones, and small electronic products are two categories that the company is engaged in.
Reliance Retail is the country’s brick-and-mortar retailer in sales and stores and is the market leader in apparel, electronics, and grocery. Towards the beginning of this year, Reliance led a $240 million funding round in Dunzo, a quick commerce hyperlocal firm, making it the biggest shareholder with a stake of 26%.
Quick Commerce is not a new domain for Reliance Retail, and the company has been delivering orders through Reliance Digital’s online app that were placed in less than three hours. According to one executive, in the case of Jio Mart grocery, the frequency of the orders that will be placed and the deliveries will be even higher than those of electronics and other categories.
As per research by RedSeer, the quick commerce industry in India is expected to grow by as much as 15 times by the year 2025, reaching closer to $5.5 billion. Online shoppers, especially in the metro cities, use quick commerce for the top purchases and unplanned shopping.