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Tag: JioMart shopping

  • Jiomart Case Study: How It Is Leading in ECommerce Industry With Its Business Model?

    When it comes to the Indian business arena, one simply cannot ignore Mr. Mukesh Ambani—the owner of Reliance Industries, and the wealthiest businessman in India. He has footprints in some of the most important sectors of the Indian economy such as refining, oil & gas, petrochemicals, telecom, retail, and media. Reliance’s oil refining business has been its crown jewel to date.

    In September 2016, Mukesh Ambani officially launched his telecommunication venture called Jio (Joint Implementation Opportunities) and set an example by turning Jio into the largest mobile network in India and the third-largest mobile network operator in the world with over 477.94 million subscribers as of November 2024. Witnessing the growth in revenues, profits, and market share in the above-mentioned sectors, Mukesh Ambani is now all set to try his hand at e-commerce through his new venture called JioMart. So what exactly is JioMart all about?

    JioMart – Company Highlights

    Platform Name JioMart
    Industry Online Grocery, ECommerce
    Headquarters Mumbai
    Founder Mukesh Ambani
    Founded May 2020
    Parent Organization Reliance Retail Limited
    Website jiomart.com

    JioMart – How Does it Work?
    Features of JioMart
    The Idea Behind Starting JioMart
    JioMart – Business Model and Revenue Model
    How to Become a Seller on JioMart?
    How JioMart Consumers and Retailers Benefitted from the Jio-Facebook Deal
    JioMart’s 30-Minute Delivery

    JioMart Case Study

    How JioMart Works?

    JioMart is an online grocery store that provides 50,000+ grocery products at discounted rates at your doorstep through an express delivery system. It follows an on-demand model. The company will avoid the system of warehousing and partner with local retailers instead. These retailers will source the grocery products and deliver them to the customers.

    JioMart began functioning in January 2020 and is available in over 200 cities and towns across India, including Mumbai, Chennai, Kolkata, Hyderabad, Delhi, Bengaluru, Jaipur, and Trivandrum.

    JioMart’s app is available for download on Google Play Store and Apple Store.

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    Features of JioMart

    JioMart will operate on the online-to-offline business model; it will connect with local retailers and deliver goods to customers by procuring them from the nearest store located in the customer’s vicinity. This model is unlike the warehouse model used by Grofers and Amazon Now.

    The company wants to correct the unorganized retail sector and help local shopkeepers whose businesses were adversely affected due to competitive pricing and warehousing strategies of online retail stores. In addition to increased sales and margins, these shopkeepers will be equipped with point-of-sale (PoS) terminals, integrated billing applications, and GST compliance. It will also upskill them in inventory management and supply chain management.

    RIL wants to establish its new venture, termed ‘Desh Ki Nayi Dukaan’, in this manner.

    JioMart claims to offer the following consumer-friendly services:

    • Free home delivery: It will give you the benefit of delivery of commodities at your doorstep by procuring it from the nearby store, and that too free of cost, which your ‘Kirane wala bhaiya’ may not.
    • No minimum value: Generally, e-commerce sites set up a minimum value of a purchase to validate free delivery. For example, Grofers has a policy of free delivery on a minimum purchase of INR 500. JioMart will not expect a ‘minimum payment’ and abstain from delivery charges, even for the smallest of items ordered.
    • Express delivery: Express delivery means quicker delivery than ordinary services. In the e-commerce segment, it is generally within 24 hours.
    • No questions asked return policy: When you wish to return the goods that you ordered online, you are almost always bombarded with unnecessary questions. And most of the time, they cannot avoided. JioMart will save you this hassle.
    • Early bird discount of INR 3000: The platform has come up with a promotional strategy of pre-registration wherein people can save up to Rs 3000 on future shopping. Reliance Jio has started sending invites to its existing telecom service users in selected areas.
    • AI-Powered Inventory Management: JioMart leverages artificial intelligence to monitor inventory in real-time, ensuring better product availability and faster deliveries, eliminating the hassle of out-of-stock items.
    • Hyperlocal Approach: JioMart expanded beyond major cities by partnering with local kirana shops, reaching the core of India to ensure quick deliveries, no matter the location.

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    The Idea Behind Starting JioMart

    JioMart wasn’t an overnight expedition of Mukesh Ambani but a well-assessed move with the sole motive of capturing the highly sought-after e-commerce segment.

    Mukesh Ambani already has a formidable customer base in the retail sector with Reliance Fresh which functions successfully on the brick-and-mortar model. JioMart owner Mukesh Ambani’s plan to set up an e-commerce platform goes back to 2019. His ambitious project emulates his desire to compete with global e-commerce giants such as Amazon and Walmart-owned Flipkart.

    Reliance acquired Grab and C-Square
    Reliance acquires Grab A Grub and C-Square
    1. Acquisition of Grab A Grub: Grab A Grub is an Indian logistics startup founded in 2013. In March 2019, Reliance Industrial Investments and Holdings Limited (RIIHL) acquired it for $14.9 million to support the logistics of Jio Mart founder Mukesh Ambani’s ‘planned e-commerce venture’. Grab was chosen because it worked successfully with some mega-brands such as McDonald’s, BigBasket, Myntra, Amazon Now, and Swiggy.
    2. Acquisition of C-Square: C-Square Info Solutions Private Limited, founded in 2002, provides software solutions for verticals like e-commerce, salesforce, retail, etc. It was acquired by RIIHL in March 2019 for $11.56 million. A strategic move by RIL, it was aimed to strengthen JioMart.

    JioMart – Business Model and Revenue Model

    RIL is offering local merchants an O2O (online-to-offline) marketplace through JioMart. This business model was pioneered by the Chinese e-commerce giant Alibaba Group Holding Ltd. Under the O2O model, a consumer searches for the product or service online but buys it through an offline channel.

    JioMart, Reliance Retail’s e-commerce platform, has tripled its number of sellers compared to 2023, as shared in its December 2024 quarter results. While groceries remain its main focus, JioMart is now working to increase its share of non-grocery items.

    It connects with local retailers and delivers goods to the customers by procuring them from the nearest store located in the customer’s locality. The customer will use his or her official WhatsApp number to place the order. Post confirmation, the user will receive the bill which is to be paid in cash. When the store is ready with the order, the customer will receive a notification to pick up the order from the store.

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    How to Become a Seller on JioMart?

    A retailer can register with JioMart to become a seller. After registering with JioMart, retailers will receive the required support for the smooth delivery of goods to customers.

    Registered grocery store owners will be able to list their inventories, take orders, create offers, and manage online sales using the app. JioMart will ensure that the sellers associated with its platform get a smooth selling experience.

    How JioMart Consumers and Retailers Benefitted from the Jio-Facebook Deal

    The Jio-Facebook deal, wherein Facebook invested INR 43,574 crore ($5.7 billion) in Jio platforms, made lives easier for the consumers and retailers associated with JioMart. As part of this deal, WhatsApp – Facebook’s popular messaging platform collaborated with JioMart. Owing to this collaboration, JioMart users can place their order through WhatsApp and Facebook while payments can be made using the ‘WhatsApp Pay’ feature.

    JioMart services have been made available on WhatsApp from 25 April 2020 in Navi Mumbai, Thane and Kalyan. JioMart is currently operating in these three cities only. However, the only mode of payment currently available is cash.

    “In the very near future, JioMart – Jio’s digital new commerce platform, and Whatsapp – will empower nearly 3 crore small Indian Kirana shops to digitally transact with every customer in their neighbourhood”- Mukesh Ambani said, CEO, Jio Mart.

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    JioMart’s 30-Minute Delivery

    Grocery delivery startups like Blinkit (formerly Grofers), Big Basket, Zepto, and Swiggy Instamart have seen remarkable success in recent years, driven by significant funding and rapid revenue growth. Recognizing the market’s potential, major e-commerce players like Amazon have also entered the grocery and essentials delivery space.

    With the entry of the biggest player in the Indian market, a serious threat looms over existing grocery delivery ventures. Besides being a popular brand name, JioMart has some features that lend it an upper hand over its competitors.

    The company plans to deliver orders in 30 minutes as quick commerce grows popular.

    Next month in December 2024, it will start 30-minute delivery in the top eight metros and later expand to 20-30 cities in phase one. Eventually, it will cover the rest of the country.

    Deliveries will be managed through its 3,500+ stores. However, JioMart won’t open dark stores or compete in the 10-20 minute delivery race.

    Conclusion

    When Jio entered the telecom segment, it stirred a revolution and turned the tables. Big shots like Airtel and Vodafone who dominated for years were sent tumbling. A potential revolution is on the cards again because of Reliance’s JioMart. JioMart’s business model showcases its ambition to dominate India’s e-commerce space by expanding Reliance’s vast retail network, focusing on groceries, and steadily focusing on quick commerce, making it a key player in the digital commerce ecosystem.

    FAQs

    What is JioMart?

    JioMart is Reliance Retail’s e-commerce platform offering groceries, essentials, and other products online.

    What is JioMart’s business model?

    RIL is offering local merchants an O2O (online-to-offline) marketplace through JioMart. This business model was pioneered by the Chinese e-commerce giant Alibaba Group Holding Ltd. Under the O2O model, a consumer searches for the product or service online but buys it through an offline channel.

    Who is JioMart founder?

    Mukesh Ambani is the owner of JioMart.

    Does JioMart charge for delivery?

    JioMart charges a delivery fee for orders under INR 250, but not for orders over INR 250 or new customers’ first three orders.

    When was JioMart launched in India?

    Jiomart was initially soft-launched in 2019. It was fully launched in May 2020 in 200 cities in India.

    Which is the parent company of JioMart?

    Reliance Retail is the parent company of JioMart.

  • Reliance’s JioMart Expanded its Services to Compete in E-Grocery Market

    Reliance Industries is not unknown to the people of India and of the world now. Founded in May 1973, Reliance Industries is headquartered in Mumbai.

    It was a landmark step when Reliance Jio Infocomm Limited was launched after Reliance Industries bought a majority stake in Infotel Broadband Services Limited (IBSL). This made the telecommunication sector of Reliance run like never before.

    JioMart resulted when Reliance Industries converged with Jio Platforms, the parent of Reliance Jio Infocomm Limited, which does its business as Jio.

    The JioMart services were initially soft-launched in December 2019, and then launched in the selected areas of Thane, Navi Mumbai, and Kalyan in April 2020. These services were eventually expanded to over 200 towns across the country, after it was fully launched in May 2020.

    The latest venture by Mukesh Ambani has offered grocery delivery at the doorstep amid the deadly coronavirus outbreak. It continues to help the users procure groceries and numerous other products from a wide range of categories including fashion, home essentials, lifestyle products, and more, which it expanded to ever since it was established.

    JioMart currently competes with other prominent grocery delivery services like Amazon, Flipkart, and Big Basket in India.

    JioMart, Reliance Jio’s shopping portal, is now open for orders altogether metros and places like Mysuru, Visakhapatnam, Coimbatore, Dehradun, and Bhatinda where consumers can place the order for the required grocery.

    JioMart is currently growing in its sales through local kiranas that it keeps on onboarding on its platform, alongside servicing orders via its Reliance Fresh and Smart stores. Furthermore, it is also open with distribution centers in areas where orders through kiranas aren’t serviceable.

    JioMart – Desh ki Nayi Dukan
    JioMart – Industry
    JioMart – Growth
    JioMart – Partnerships
    JioMart – Logo and Tagline
    JioMart – Business and Revenue Model
    JioMart – How to Use?
    JioMart – Payment and Delivery Options
    JioMart – How will it affect Competitors?
    JioMart – Shaping the Future of India

    Mukesh Ambani’s JioMart Is Set To Dominate E-Commerce In India
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    JioMart – Desh ki Nayi Dukan

    JioMart delivers a good range of products including fruits, vegetables, groceries, bakery products, beverages, household products, packaged food, and more. The JioMart website is jiomart.com.

    This Reliance Jio and Reliance Retail-powered platform operates through neighbourhood stores, supermarkets, hypermarkets, wholesale and online stores. The company integrated its registered customer database from Reliance Fresh, Reliance Smart and other retail businesses into JioMart.

    JioMart said the following in a statement-
    “We offer you the convenience of shopping everything that you need for your home – be it fresh fruits & vegetables, rice, dals, oil, packaged food, dairy item, frozen, pet food, household cleaning items & personal care products from a single virtual store.”

    The chief executive of grocery retail at Reliance Retail, Damodar Mall tweeted, “Never waste a crisis, they say! Big town or small, JioMart delivers in over 200 towns. Chinese e-commerce giant Alibaba (BABA) “flourished” during the 2003 SARS pandemWe seek similar opportunities by fulfilling the requirements during these tough times”.

    JioMart | Desh ki Nayi Dukan

    JioMart – Industry

    Indian Online Food and Grocery Market Growth
    Indian Online Food and Grocery Market Growth

    JioMart belongs to the online food and grocery industry. This industry has grown from 2013-2018 at a CAGR of 71.2%, and is expected to grow at a CAGR of 45.5% between 2018-2023.

    JioMart – Growth

    JioMart has certainly been a successful pilot and has grown well throughout these couple of years. Some of the major growth highlights of JioMart are:

    • JioMart witnessed a 3X increase in its merchant base in its grocery delivery vertical in the Q4 FY2021.
    • It expanded services to 10 new cities during the same fiscal
    • JioMart sees strong traction from Tier 3 cities and beyond
    • The company has seen a 3X growth in its order frequencies
    • JioMart has already onboarded over 300K merchants including kiranas and small merchants
    • Served over 1 mn customers, as reported on January 26, 2021
    • JioMart continues to scale up. It achieved a 3X growth in product assortment, 1.5X growth in order frequency, and has grown by 20% growth in average basket value (ABV).
    • The ecommerce platform also witnessed an 80% repeat order growth in Q4 FY2021
    • JioMart is also available on WhatsApp, on which the users can place orders for their groceries and other necessities.

    JioMart Express

    JioMart has launched JioMart Express in view of foraying into the popular quick commerce space in June 2022. The platform was piloted in Navi Mumbai and currently spans over 3K+ SKUs, which includes groceries, and personal and home care products.

    Though the quick commerce wing of JioMart and how it operates is not quite clear now, with some reports claiming that it is using Dunzo’s delivery fleet and local kirana stores as hyperlocal hubs, and others suggest that the Reliance Retail stores, the business is gaining popularity fast.

    JioMart Express is currently looking to expand its services to 200+ cities by the next fiscal. This new business of Reliance Retail and Jio will soon be operating in several other categories like medicines as well as small electronic products including smartphones.

    Benefits of JioMart Express

    Quick commerce delivery, which is fast becoming the trend with the likes of Zepto, Blinkit, Dunzo, Swiggy Instamart, and more, is springing numerous players from across industries, and this finally got to Reliance which is already one of the powerful names in a range of industries. This eventually led to the launch of JioMart Express. This quick commerce wing of JioMart will certainly be effective for the users in many ways. Here’s a look at the benefits of JioMart Express:

    • Express 90 minutes delivery
    • 3000+ grocery and essentials
    • No minimum order value
    • Numerous discount coupons and other options
    • Quality of Reliance
    • Redemption of points
    • Flexible online payments

    JioMart – Partnerships

    Facebook Inc. (now known as Meta) bought a 9.99% stake for $5.7 billion (Rs 43,574 crore) in Reliance Industries’ digital unit, Jio Platforms, on April 22, 2020. That partnership helped Reliance roll out its service for India’s grocers and little businesses by using India’s 400 million strong user base for Facebook’s WhatsApp messaging service. Three days after the deal, JioMart made its service live online via WhatsApp.

    JioMart mainly partners with a huge collection of local kirana stores that helps the platform grow. It has also partnered with numerous UPI platforms to make the payment journeys easy for the customers.

    ePayLater collaborated with JioMart on August 3, 2022, which will help the platform offer line of credit to its B2B customers. This is the last partnership that JioMart saw.

    JioMart – Logo and Tagline

    JIoMart Logo
    JIoMart Logo

    While mentioning JioMart, Mukesh Ambani, the head honcho of Reliance, said “Customer aapka, Support humara”, which means that JioMart will extend enormous support to the local vendors and kirana owners.

    JioMart – Business and Revenue Model

    JioMart operates in an O2O (offline to offline) business model. With JioMart the local kiranas and vendors will receive orders online, which will be delivered as per the latest time slots. The JioMart business model brings the trio – producers, customers and the kiranas together under the same platform.

    First of all, the Kirana owners should register. After applying for JioMart Kirana registration, JioMart will help those Kirana stores to make their Kirana shop go digital to receive orders via WhatsApp. Once the order is placed by the Kirana stores then a confirmation message is sent to the user to pick up the order from the store.

    The JioMart business model focuses on extending the customers an omnichannel experience.

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    JioMart – How to Use?

    Reliance jiomart- Online Grocery
    JioMart | Reliance Online Grocery

    The JioMart app is available on Apple and Google Play Store. JioMart is currently available as a mobile and desktop website. The services of JioMart can also be availed via Facebook-owned instant messaging app WhatsApp.

    To check if JioMart’s service is open in your location or not, you need to enter your pin code in the ‘Delivering to’ field on the website. If you get a green signal, it means the service is there in your area. Otherwise, a message in red appears, “We are currently not available at this location. Stay tuned!”

    The ‘search with list’ option is the handiest feature of this site. You can simply paste or write the entire product list in this section instead of searching one by one. The website will search for the products sequentially for you. You need to place your choice in the cart.

    To place an order, one needs to log on to jiomart.com. If the order value is less than ₹750, a nominal delivery fee of ₹25 will be added. Above an order value of ₹750, JioMart offers free delivery. The customer can pay either online or offline.

    JioMart – Payment and Delivery Options

    Jio has integrated many payment options such as e-wallets and UPI on the website. The company has incorporated almost all kinds of payment methods. Various e-wallets like Paytm, PhonePe, JioMoney, Google Pay, and MobiKwik are also supported. The website has a Net Banking option along with the Credit/Debit card provisions. If not online, one can also go for cash on delivery (COD).

    One of the things that the users might find inconvenient is that JioMart does not offer same-day delivery. The orders are generally delivered within two days. If there happens to be a lockdown or if similar strictures are imposed, the delivery time may get extended in some cases. However, this would be solved with JioMart Express, which is the quick commerce arm of JioMart.

    Some improvements are required like changes to the searching process. The problem is that a particular product might be named differently according to the local language, which can hamper the search for that product. The search algorithm needs to detect such discrepancies. Otherwise, the website cannot cater to different customer requirements.

    JioMart – How will it affect Competitors?

    JioMart, promoted as ‘Desh ki Nayi Dukan’, offers free express grocery delivery from neighborhood grocery or Kirana stores. JioMart’s launch comes as India is witnessing an increase in coronavirus cases. Officials have said that the product catalog on JioMart’s website will be expanded once the lockdown restrictions are lifted. JioMart will then work at its full capacity.

    JioMart is undoubtedly a tough competitor to other online grocery shops like BigBasket and Grofers (now Blinkit). JioMart offers fresh food, pulses, packaged food, household cleaning items, pet food, and other categories of products on its website. It is all set to take on the big players such as BigBasket, Blinkit, Amazon Fresh and Pantry, and Flipkart’s Supermart.

    Amazon (AMZN) and Walmart-owned (WMT) Flipkart are the two dominant e-commerce platforms in India. Both companies operate in hundreds of cities across the country. They deliver goods such as smartphones, electronics, and clothing. Both companies also launched online grocery deliveries last year. JioMart’s launch is a reason for worry for Amazon and Flipkart because they are not very strong in the grocery segment.

    JioMart’s expansion also comes as millions of Indians remain under lockdown because of the coronavirus pandemic. Amazon and Flipkart have also faced difficulty delivering orders across India during the Covid-19 pandemic. This is due to the restrictions imposed on traveling from one city to another. The lockdown required the company to accelerate expansion plans with increasing warehouse capacities.

    Due to the lockdown imposed in India, Flipkart temporarily suspended services and Amazon had to limit orders as it responded to increased demand. Despite the various complexities and challenges of zonal restrictions and supply chain disruption, Flipkart and other e-commerce companies have worked to deliver essential goods while considering the safety of their employees. It will pose a formidable challenge to local rivals who are also betting big on groceries for their growth.

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    JioMart – Shaping the Future of India

    According to investment research firm Bernstein, grocery constitutes 70% of the Indian retail market. More than 90% of the market is unorganized and driven by kirana stores. The overall retail market is expected to double in size from $676 billion in 2018 to nearly $1.3 trillion by 2025, according to Bernstein.

    According to Forrester, India’s online grocery market is small by comparison and worth around $3 billion this year. But the firm says that the number is growing fast as the pandemic changes people’s shopping habits. JioMart was launched in December last year with the goal of connecting 3 crore kiranas or grocery stores with local consumers online.

    Reliance is on a fundraising spree through Jio Platforms, which includes the telecom venture Jio Infocomm. It has raised a massive $10 billion from investors including Facebook, KKR, and General Atlantic in a month. JioMart is selling shares worth $7 billion (around Rs. 53,000 crores).

    Bernstein and Forrester’s analysts say JioMart is well placed to disrupt the online grocery market because it can source supplies from Reliance’s brick-and-mortar stores. Reliance is India’s largest retail operator. If JioMart manages to get kiranas online and organized, it will also have a hyper-local supply and logistics chain that can be used to meet the demand.

    Conclusion

    Competitions are everywhere. In order to survive in the market, the companies should keep improving, provide better options, should solve problems, and keep thriving to become better than its competitor.

    The platform is certainly one of the most revolutionary approaches of Reliance that has already helped numerous users across the country, who now have an access to a majority of all that they might want including groceries and essentials. JioMart is a blessing in disguise for the Kirana owners.

    Reliance’s JioMart has already roped in over 300K Kirana stores and local vendors/merchants across the country and is planning to increase the number rapidly across India. Later the company is planning to make these stores JioMart franchises to source products directly from Reliance retails and make them fully digital. All the orders can be fulfilled by the local Kirana stores.

    FAQs

    How do I shop from JioMart?

    Download the JioMart App & Register with your Mobile Number. Login – Select City, Enter Pin code. Select from a wide range of categories to choose from. Add items to cart, complete payment & check out.

    How JioMart will work?

    JioMart is essentially an aggregator between customers and nearby stores, in a similar way that other online delivery aggregators work. This saves JioMart from separately acquiring customers on its platform, which is a key barrier when a new app or a service is launched.

    What is the minimum order for JioMart?

    Initially, JioMart required a minimum order value of Rs 750 for free delivery. Existing players like Alibaba-backed Bigbasket, Amazon India, or Flipkart typically require upwards of Rs 600 order size for free delivery.

    Is JioMart available in Vizag?

    Reliance’s online shopping portal, JioMart, is now open for orders in 200 cities including all metros and places such as Mysuru, Visakhapatnam, Coimbatore, Dehradun, and Bhatinda.

    Is JioMart available on Whatsapp?

    After JioMart partnered with Facebook-owned Whatsapp, the platform now offers the users the facilities of ordering their groceries and essentials as per their requirements via the Whatsapp platform itself.

  • JioMart VS BigBasket: Top Contenders Of Online Grocery Market

    In the year 2019, Reliance Industries launched their own online groceries ordering website called JioMart, this was meant to be an alternative for the other grocery websites like BigBasket which is a well-established company in the market for the last few years. BigBasket has the experience and expertise of almost a decade, while JioMart launched in 2019 is already gaining users rapidly.

    However JioMart has an added advantage which is pricing, JioMart offers a flat 5% minimum discount on MRP on all their products which is pretty similar to DMart’s model, this model helped DMart become an overnight success story in India with their malls being found left, right and center in most Indian cities today. Hence why, Mukesh Ambani’s digital grocery JioMart is scaling at a pace for its competitors to take a very hard look at their ventures.

    JioMart is currently receiving orders at 250,000 per day. At the same time, the old players in the market such as Big Basket is receiving 220,000 per day respectively during the coronavirus induced nationwide lockdown, Bigbasket however has seen per day orders to rise around 190,000 and 300,000 levels respectively. JioMart operates in 200 cities, while Big Basket operates inly in 30 cities.

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    A brief about BigBasket

    Big Basket is one of the largest online grocery super market in India. The company was founded in 2011 by Hari Menon, VS Sudharkar, VS Ramesh, Vipul Parekh and Abhinav Choudari. It is headquartered in Bengaluru and operates in 30 cities in India. Big Basket offers variety of products such as fresh fruits, vegetable, food grains, oil, masala, poultry and meat, packaged snacks, beverages household supplies including healthcare products.

    It has more than 20,000 different from 1000 different brands across its catalog. The valuation of the company is 1.8 billion, reaching the unicorn status. Bigbasket has revenue of around $3.2 million and approximately 4,000 employees. It delivers to various cities in India such as Hyderabad, Mumbai, Pune, Chennai, Delhi, Noida, Mysore, Coimbatore, Vijayawada, Kolkata, Ahmedabad, Lucknow, Kanpur, Gurgaon, Vadodara, Vizag, Surat, Nagpur, Patna, Indore, Chandigarh, etc.

    Big basket was launched at a time when India’s urban workforce in cities was finding it difficult to allocate time to buy groceries and home essentials. Bigbasket gave its customers a flexibility to place their order anytime and get the things delivered at their preferred time. Bigbasket comes with the promise of having low prices and prompt delivery services.

    The logos of bigbasket and jiomart
    The logos of bigbasket and jiomart

    A brief about JioMart

    JioMart is an Indian online grocery delivery service, started as a joint venture between Reliance Retail and Jio platforms. JioMart delivery grocery and daily essential from nearby stores. The platform was soft launched in December 2019. A pilot was launched in selected areas of Navi Mumbai, Thane and Kalyan in April 2020. In May 2020, Jiomart launched in 200 cities and towns in India.

    Within a few days of its launch the JioMart Application crossed 1 million downloads. In October 2020, JioMart signed an agreement with Infibeam Avenues. JioMart is an online selling channel format of Reliance Retail Limited. We offer you convenience of shopping everything that you need for your home. The website sells products like fresh fruits and vegetables, cereals, packaged food, bakery and dairy, frozen and pet food, household cleaning items to your specialized beauty and personal care products from a single virtual store.

    JioMart is an online grocery store that provides 50,000 plus grocery products at discounts rates at your doorstep through an express delivery system. The company follows the on-demand model. JioMart also avoids using the system of warehousing and partner with local retailers instead. These retailers will source the grocery products and deliver it to the customers. JioMart’s app is available for download on Google Play Store and Apple Store.

    Online Grocery Service JioMart Expands services in 200 Cities
    After starting JioMart services in the suburbs of Mumbai, Reliance Industrieshas now expanded the services of JioMart, [/tag/jiomart/] an online grocerystore, to cover over 200 towns across the country. The latest venture by MukeshAmbani [/tag/mukesh-ambani/] will offer grocery delivery at the do…
    StartupTalkyVarad Kitey

    Features of Bigbasket

    BigBasket has over 10 million customers. While the companies target audience is the working people, students and old people who don’t have the energy to go to grocery stores or to even stand in lines and buy the necessary products. Big basket helps people to browse through a huge variety of quality grocery items. Big basket helps these people to browse through a huge variety of quality grocery items.

    BigBasket home page
    BigBasket home page

    When the customers can order the required products which will be delivery within 90 minutes for express delivery or next morning for slotted delivery. There are three types of delivery systems which are

    • Slotted delivery: Customers can pick a convenient slot when they want their purchase to be delivery.
    • Express delivery: This service can be availed by customers in cities like Bangalore, Mumbai, Pune, Chennai, Kolkata, Hyderabad and Delhi NCR. Delivery will be done within 90 minutes

    The company has BB specialty stores: Big Basket has partnership with specialty stores like Karachi bakery. Customers can request a product from the store which will be delivered within 90 minutes. Big basket has acquired 100% stakes in milk delivery ventures Raincan and morningcart. The milk delivery service was branded as BB daily where customers can get milk delivered to their home in the morning everyday through subscribing for a fee.

    Online Grocery Service JioMart Expands services in 200 Cities
    After starting JioMart services in the suburbs of Mumbai, Reliance Industrieshas now expanded the services of JioMart, [/tag/jiomart/] an online grocerystore, to cover over 200 towns across the country. The latest venture by MukeshAmbani [/tag/mukesh-ambani/] will offer grocery delivery at the do…
    StartupTalkyVarad Kitey

    Features of JioMart

    JioMart will operate on the online to offline business model, it will connect with the local retailers and deliver goods to customers by procuring then from the nearest store located in the customer’s vicinity. This is unlike Grofers and BigBasket that use warehouse model. JioMart helps the correct the unorganized retail sector and help local shopkeepers whose businesses were adversely affected due to competitive pricing and warehousing strategies of online retail stores.

    JioMart home page
    JioMart home page

    In addition to increased sales and margins, these shopkeepers will be equipped with point of sale (PoS) terminals, integrated billing applications, and GST compliance. It will also upskill them in inventory management and supply chain management. The types of delivery services provided by JioMart are:

    • Free home delivery: It will give you the benefit of delivery of commodities at your doorstep by producing it from the nearby store.
    • No minimum value for free delivery: Sites like Big Basket and grofers det up a minimum value of purchase to avail the free delivery.
    • Express delivery: Express delivery means quicker delivery than ordinary services. In the ecommerce segment, it is generally within 24 hours.
    • No question asked return policy: When you wish to return the goods that you ordered online, you are almost always bombarded with unnecessary questions, JioMart will not ask the customer those questions.
    • Big discounts: The platform gives early discount of Rs. 3000, the platform has come up with a promotional strategy of pre-registration wherein people can save up to Rs. 3000 on future shopping.

    Mukesh Ambani’s JioMart Is Set To Dominate E-Commerce In India
    When it comes to the Indian business arena, one simply cannot ignore Mr. MukeshAmbani—the owner of Reliance Industries, and the wealthiest businessman ofIndia. He has footprints in some of the most important sectors of the Indianeconomy such as refining, oil & gas, petrochemicals, telecom, retail…
    StartupTalkyLakshya Singh

    Funding and acquisitions of Big Basket and JioMart

    BigBasket has received funds worth around $526 million. The investors include Alibaba group, Abraaj Group, Ascent Capital, Bessemer venture partner, Brand Capital, Helium venture partner, ICICI venture, IFC Venture capital group, LionRock Capital, Paytm Mall, Sands Capital management, Sands capital ventures, Trifecta capital and Zodius Capital.

    There are also talks about additional funding of around $200million post which the company would be valued at around $900 million. When it come to the acquisition BigBasket acquisition of delyver in June 2015 for an undisclosed amount. Delyver was also an online grocery store and its specialty was using local stores to deliver groceries to people. Now, all business assets of delyver have been merged with bigbasket.

    The Reliance Industries has acquired or invested in several companies, which are now under Jio platforms. Some of them Haptik, Embibe, Radisys, Reverie, Grab a Crub, EasyGov, Asteria Aerospace, Tesseract. The companies that have a stake in the Jio platforms are KKR, Public Investment fund of Saudi Arabia, Vista equity partners, Silver Lake Partners, Mudabla Investment Company, General Atlantic, Google and Facebook among others.

    Valuation of JioMart and Big Basket

    In May 2020, the enterprise value of Jio platform was estimated to be $72 billion. The company was also reported to be valuable than all other businesses of RIL put together. Morgan Stanley has valued the net asset value of Reliance Retail at $29 billion the company estimates the e commerce will account for 15% of all retail sales in India by 2023. Big Basket on the other hand has the valuation of over $1.2 billion.

    Big basket raised $300 million in February 2018 as part of its series E financing, which was led by the Alibaba Group. This gave the company a post-money valuation of $850 million. According to market sources, BigBasket is scouting for additional funding of $350-400 million at a valuation of about $2 billion. BigBasket has hence upped growth targets for FY21 by 40-50 per cent.

    BigBasket Success Story – India’s Largest Online Grocer
    Today, BigBasket is the India’s largest online grocer that receives over 100,000orders per day. Online grocery shopping is fast gaining popularity among theIndians. According to a Redseer report, India’s online grocery retail market isall set to touch $10.5 billion by 2023. A company that holds a…
    StartupTalkyChayanika Goswami

    Workflow and Navigation of both websites

    When it comes to workflow both the websites are similar overall ordering process, you sing up using email and phone number, selection or area or pin number, adding item to the cart, clicking on the checkout button to finally finish the payment process. BigBasket has a much wider variety of categories for products, while JioMart needs to work more in this area. However, JioMart is gets a point as it has the multi search feature. With the help of this feature the user can search multiple products in one go and the combined results will be displayed.

    Navigation and search on big basket and jiomart
    Navigation and search on big basket and jiomart

    Wallet and checkout

    JioMart does not have a wallet, it is also difficult choose an option to apply discount vouchers or choose a delivery slot. However JioMart directly refunds to your online payment method in case there is an adjustment later and they also have an option of crediting the amount to your store credit account. In contrast BigBasket provides lots of options during checkout such as the ability to apply a voucher, use balance from the wallet select a delivery slot, etc.

    Amazon And BigBasket Get Permission To Deliver Liquor In West Bengal
    The lockdown due to the Coronavirus Pandemic (COVID-19) affected the Indianeconomy in a bad way. The Indian economy came to a standstill ever since thelockdown has been imposed. Most of the industries except those which manufactureessential day-to-day products such as food products, medicines, et…
    StartupTalkyYash Taneja

    Storage Levels

    JioMart orders are sourced from your nearest retail outlet of reliance Fresh or reliance mart unlike BigBasket which are sourced from their own warehouses. This way JioMart has an advantage that is their sources like Reliance fresh are already established enterprises unlike the Big Basket warehouses, so they didn’t have to create their supply chain from scratch. Also, I think their stocks will churn out much faster as both online and offline buyers will buy from the same sources.