14:31 28th Jun, 2018
Reliance Jio Forays Into E-Commerce To Reach Out Indian Masses
Reliance will cater to key segments like electronics, apparel, home and furnishing, baby care, beauty and books among others.
After disrupting India’s telecom market with unlimited data, calls and other freebies, Mukesh Ambani-led Reliance Jio is now placing its bet on e-commerce. As per exclusive reports, Reliance Jio has entered India’s e-commerce space to serve local kirana or grocery stores under its network of retailers and distributors through the app-based platform. With the new move, Reliance Jio now aims to reach out to millions of Indian customers, while shake up the existing market led by Amazon, Flipkart, Paytm Mall among others that draws potential customers from online channels to make purchases in physical stores. Being the latest to enter the race, Reliance will cater to key segments like electronics, apparel, home and furnishing, baby care, beauty and books among others.
With smartphone adoption to increase in India, and people making an increasing number of purchases online, India’s e-commerce market will grow at a 30% compound annual growth rate for gross merchandise value to be worth $200 billion by 2026, predicts investment bank Morgan Stanley. In such a market, it would be interesting to watch how Reliance Jio can make its dent and disrupt the space.
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