Mukesh Ambani introduces 'My Jio-Mart' to compete against Amazon, Walmart, and Alibaba

The e-commerce platform has become such a big deal now that everybody wants to be part of it. In Nepal, e-commerce is gaining popularity at a good pace. Platforms like Daraz, Sastodeal, Oliz Store, etc are getting popular. People are trusting these online platforms. Talking about e-commerce, Mukesh Ambani, Asia’s richest person is planning to bring a new e-commerce company, ‘My Jio-Mart’.

In India, Amazon, and Walmart owned e-commerce platform, Flipkart is ruling the market. But now the richest man in Asia, Mukesh Ambani is all set to compete against Amazon, Walmart, and Alibaba. He said that Reliance Retail and Reliance Jio Infocomm will launch a new e-commerce platform. The main question lies here, will Jio-Mart be able to compete against Amazon and Alibaba? Reliance Retail has more than 10,000 stores across the country and Jio has more than 300 million subscribers. The main plan of Jio-Mart is to sell its services and goods at cheaper rates.

According to Reliance official, “My Jio Mart aims to bring happy and prosperous life to millions of people by forming meaningful, long-lasting and mutually rewarding business association”. At the 42^nd Annual General Meeting, Mukesh Ambani said, ‘’New Commerce is a massive new business opportunity of $700 billion… the main purpose of New Commerce is to completely transform the unorganized retail market”.

My Jio Mart has the tag line ‘India ki nayi dukaan’. They will be connecting the last-mile neighborhood stores and the customers via Reliance Jio network and its retailing arm. They will be partnering with the local grocers as different Kirana stores have already been invited to get registered on this platform. Currently, My Jio Mart’s service is being tested in places like Thane, Kalyan, and Navi Mumbai. They are also offering free home delivery and pre-registration discounts on the orders. They have already listed more than 50,000 grocery products. As per the news, My Jio Mart app will be available soon. As it is a domestic company in India, they will be providing their services and goods at cheaper rates to the people. This is the same ideology used by Jack Ma on Alibaba.

So far, Reliance Retail has more than 100,091 stores across 7000 places in India. There will be a tough competition among My Jio Mart, Amazon, and Alibaba. Being a domestic company, My Jio Mart will have an extra advantage in India. But will it overcome the presence of Flipkart? What are your thoughts on My Jio Mart? Please do let us know in the comments below.

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