After Grocery, JioMart To Eye Electronics, Fashion, Pharmaceutical and Healthcare
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After clocking 250,000 grocery orders per day within weeks of its launch, Mukesh Ambani-led JioMart, plans to tap into electronics, fashion, pharmaceutical and healthcare space as well.
“In coming years, we will cover many more cities, serve many more customers across India, and expand to many more categories,” Ambani said during Reliance Industries’ 43rd Annual General Meeting which was held virtually.
JioMart is currently trying to scale its geographical reach and delivery capabilities. After piloting with grocery stores, JioMart along with WhatsApp is now piloting the beta version of the JioMart grocery customer online platform in 200 cities.
Ambani added Reliance Retail has been at the forefront of bringing about the ‘organized retail revolution’ in India.
He claimed that the retail unit has partnered with farmers, small and medium-scale manufacturers, merchants, vendors, startups and global players to meet its customers’ everyday needs.
Last year, Reliance Retail clocked a revenue of INR 162,936 crore and the vertical’s EBITDA was at INR 9,654 crore.
Further stressing on the growth, Ambani said Reliance Retail’s revenue has grown eight times and the profits have increased by 11 times.
Speaking on JioMart, Ambani said JioMart and Facebook-owned WhatsApp will work closely to create growth opportunities for millions of Indian small merchants and grocery shops.
The announcement comes months after Facebook invested $5.7 billion in Jio Platforms to become the largest minority stakeholder at an exchange of 9.99 per cent stake.
JioMart is a tech-enabled partnership that will link producers, traders, small merchants, consumer brands and consumers.
“Connecting farmers and delivering their fresh produce directly to homes is a key part of our grocery strategy. This will significantly improve farmer income and incentivise higher productivity,” Ambani added.