JioMart is looking to enter the huge E-market of electronic products which is being dominated by some of the biggest E-commerce companies like Amazon and Walmart’s Flipkart. JioMart is a pilot project of Reliance retail owned by India’s richest businessman Mukesh Ambani, which currently offers kitchen appliances, small home appliances like vacuum cleaners air purifiers, electronic personal care products etc.
The online sales of e-commerce companies during the festive season are expected to have crossed $4.3 billion and smartphone sales are expected to have a contribution of more than 30 percent in it. Thus JioMart is looking to take advantage of the festive season by utilizing 2,000 stores in 700 cities to fulfill the orders placed online.
“JioMart’s entry into electronics was planned before Diwali and it will be scaled up across categories and cities over the next 7-10 days so that Reliance can gain a share of the online pie,” said an industry executive.
However, the company said to have some very positive results. “Within a few weeks of launch, JioMart has already delivered over 400,000 orders on a single day, which is significantly higher than any other grocery home delivery company,” an official said in a statement announcing their Q1 results in July.