JioMart, the online commerce platform of Reliance Retail, has registered a hike in quarterly orders via Whatsapp despite having an enormous customer base. The top executives of the company have revealed the information.
In August last year, JioMart and Whatsapp announced a collaboration of the online shopping platform with the social messaging application.
The initiative aimed to provide an end-to-end user shopping experience on WhatsApp. It will allow the users to search through the JioMart catalog, add products to their cart and complete their purchases – all the steps will take place within WhatsApp.
The collaboration plans were first announced in 2021 and are part of the strategic partnership between JioMart and Meta platforms. Meta is an investor in the JioMart platform, which holds minority stakes in the company.
Gaurav Jain, the head of Strategy and Business Development at Reliance Retail Limited has said stating RIL’s post earnings that JioMart on Whatsapp, the partnership was announced in the previous quarter has continued to do well. The active user base has expanded by 37 percent every month, so the company is visualizing strong growth in the field.
The value of the orders and the number of orders have continued to increase gradually, and the orders have also increased since the 9X launch.
Thus, the platform is assisting the company to democratize Whatsapp reach and allowing new users to shop who are unable to do so on the digital platform.
He has further added that JioMart has performed well in the last three months ending on December 31. The demands have been visualized in tier-two cities and beyond towns, as compared to the metros.
It can be summed up that the overall reliance on retail – both digital and new commerce businesses have managed to remain strong, and the daily orders have surged by 30 percent year on year. This is followed by partnerships with the kiranas and merchants that have increased the values by 70 percent year-on-year as stated by the company.
Jiomart’s success- a beginning of RIL’s dominance in FMCG:
Reliance Retail is India’s largest organized retail industry, with its presence across diverse categories ranging from apparel to footwear, grocery, and general merchandise. The digital and new commerce options provided by the company serves as a crucial factor for both business-to-business online commerce platform for consumers and business-to-business platforms.
Jain has stated that the platform has increased its catalog by 71 percent, which has played an integral contribution to the non-grocery category.
A big portion of the increment is contributed to the seller base which is expanding to 83 percent on a quarter-to-quarter basis. The sellers belong to the group of small, and medium enterprises and artisans who are playing an integral role in merging the producing offerings in a company uniquely.
Furthermore, based on the December reports, the company has visualized 65 percent growth on a year-on-year basis. Currently, they are emphasizing delivering a unique interface, improving the customer shopping experience, and bringing a broader choice for grocery and non-grocery products to the users.
Within the grocery retail business, JioMart added 11 new fulfillment centers across India during the December quarter in an attempt to include a wider set of merchants and expand in different locations of the country.
Jain has further talked about the operating environment of the company. He has stated that JioMart’s distribution, fulfillment, procurement, processing, and faculties are working at an optimum efficiency than they were operating before covid.
Customers have started visiting the retail stores, and it is the first festive period after the emergence of Covid-19. The industry has experienced 201 million customers visiting the retail firm. However, he has added that the discretionary purchases were affected during November. Reliance Industries have started pacing toward the FMCG space.
Within a month after Mukesh Ambani declared that the brand would function as an independent unit, the firm acquired many legacy brands in India and plans to increase the array under its ambition. Reliance is a tough competitor in the FMCG market given that it is backed by a strong and developing distribution infrastructure.
The firm has already set its targets to account for 50000 crore sales by the fiscal year 2027, and based on the company’s ambition, the target will be reached easily in due course of time.
edited and proofread by nikita sharma
