Corporate Grapevine     

Published: May 31, 2024
Updated: May 31, 2024

Jiomart takes on BigBasket, Zepto

Mukesh Ambani’s Reliance Retail’s JioMart plans to introduce quick commerce services in India by delivering products within 30 minutes of order placed on its app by customers. The service will initially be available in eight cities across 68 pin codes starting in June, and focused on the grocery category, including fresh fruits and vegetables. The company will leverage a network of 2,000 grocery stores to roll out instant delivery across 1,000 cities in a phased manner.

Currently, it is focused on a hyperlocal omnichannel presence, serving customers in proximity to stores nationwide. It is optimizing store layouts and enhancing fulfillment technology to ensure a 100 percent fill rate and on-time deliveries. With this, Ambani will take on Tata’s BigBasket and Zepto — both having a good market presence.

This is not the first time Reliance JioMart is planning to launch a 30- minute service. Some customers prefer delivery within 10-30 minutes while others opt for a delivery window of 30 minutes to six hours. Although the larger segment will come from the 30-minute to six-hour window (slotted delivery), qCommerce will thrive in specific product categories.

Shareholders of RIL, however, are interested in the listing of Reliance Retail for value unlocking of RIL shares. Chairman & MD of RIL, Mukesh Ambani, is expected to give some clarity on the listing at the next shareholders’ meeting.