JioMart with WhatsApp?
JioMart and WhatsApp will create growth opportunities for small businesses: Mukesh Ambani
At the annual general meeting of Reliance Industries Ltd (RIL) Mr.Mukesh Ambani, say's that Reliance Retail is now becoming an omnichannel platform, which JioMart will integrate suppliers, consumers, and small stores on the same platform. JioMart will use WhatsApp features to connect consumers for digital fulfillment and payments.
It comes as EBITDA of Reliance Industries has reached Rs 1 lakh crore on a consolidated basis, Mr. Ambani announced. He Say's a significant part of this EBITDA was contributed by Reliance Retail, which is the largest and well-known retailer in India.
Reliance Retail’s business continues to scale heights, as it has achieved important milestones during the year – a turnover of Rs 1,62,936 crore, and an EBITDA of Rs 9,654 crore for FY 2020, up from Rs 6,201 crore in the previous year. It has a store count of 11,784. Reliance is witnessing incredible traction across consumption baskets, on the back of value proposition.
Reliance Retail is providing the services over 200 cities during the COVID-19 time, in which grocery platform crossing 250,000 orders a day. But it also has big plans for the ten million Kirana's stores, out there with its Omni channel approach through Kirana Delight – to digitally enable and engage consumers using a multi-functional POS.
"Jio Mart will grow their business. Convert stores in less than 48 hours to self-service stores," said an associate of Reliance during the Annual General Meeting (AGM).
The routes to this journey require Reliance Retail to get settled a complex yet robust physical and digital pan-India infrastructure and serve consumers in partnership with traditional retailers. Reliance Retail has been making strides towards this approach with the launch of the pilot phase of JioMart in selected cities. They aimed at changing the whole experience by enabling consumers who are not used to digital channels to become comfortable with JioMart.
JioMart acts as a medium to the delivery platform between manufacturers and merchant partners. JioMart enables the digitalization of merchants by Jio PoS at the backend and JioMart app at the frontend. Initially, Reliance Retail has Started onboarding merchant partners in limited Areas.
At the 43rd AGM, Mr. Mukesh Ambani said Reliance Retail will continue to invest in Spreading the existing Shops network and enhance core capabilities, including omni channel solutions, innovative store concepts, Spreading store areas for providing immersive consumer experience, leveraging customer insights through the use of sophisticated technology, and much more to consolidate its market leadership across all usage of baskets and store concepts.
Reliance works with more than 10,000 farmers who provide more than 80 percent of the agricultural products like fruit and vegetables directly to there stores.
Today, Reliance Retail has an over total area of 28.7 million square feet of space. With a partnership with 47 international brands.