Reliance Industries, the country's largest conglomerate by value, announced the launch of its web portal Jiomart, marking its entry into online food and grocery shopping space to take on rival companies Amazon and Flipkart.
The app capitalizing on Jio's technology and data capabilities and cash and carry infrastructure of Reliance Retail will connect both consumers as well as nearby retail stores. As per officials privy to the launch of JioMart, the company's new business will work as an aggregator wherein it will associate with local grocery stores and provide them with low-interest working capital, points of sale (PoS) kiosks, inventory management skills and enable them to be GST compliant.
Billionaire Mukesh Ambani in January 2019 said that RIL's retail and telecom arm would jointly launch e-commerce platform in the country.
Currently, JioMart with tagline 'India ki nayi dukaan' is offering its services in suburbs of Thane, Kalyan and Navi Mumbai. The web portal provides pre-registration discounts, free home delivery and a wide range of grocery products online.
"Kiranas are being registered and given POS machines with integrated billing applications. Also, it enables digital transactions, promotions including loyalty, discount coupons by fast moving consumer goods firms and supply chain management," an official with know how on the launch is cited as saying in a leading business daily.