Reliance Jio Mart plans to start a trial to offer its instant grocery service Jio Mart Express in Navi Mumbai. The objective of the service is to sell 2000 stock-keeping units or SKUs and have them delivered in just a few hours.
Jio Mart’s plan to spread in 200 towns
As per reports from Economic Times, Jio Mart is planning to expand its instant service to 200 towns and cities where it is already operational by next quarter-end. Apart from that, it is eyeing to become one of the largest instant grocers in the country by multiplying its reach in the next few upcoming months.
According to an executive who revealed to ET that the Jio Mart Express would be scaling up by making use of the lakhs of Kirana stores and having them on board under the B2B Jio Mart partner program, and in the metro locations, it will be utilizing both the Dunzo and its delivery fleet. Dunzo’s presence in the metro locations is already strong.
The Instant grocery delivery ecosystem has had to suffer a setback and a rough tailwind ever since Zomato was compelled to scale down the valuation of Blinkit in a few months. After the valuation of the instant grocery delivery app at more than a billion dollars in the previous year, Zomato had to opt for a merger, the valuation of which was closer to $700 to $800 million as of March 2022.
$240 million funding in Dunzo
Reliance has announced a $240 million funding in Dunzo at the beginning of this year, thereby picking up a share of 26% in the quick commerce startup that is Bengaluru based.
As of March 2022, Instacart, the global American food tech startup, too announced in the last week that the valuation of their company will be dropping by just a little under 40% so that it can attract better-skilled talent that can match the industry standards.
Most importantly, Reliance is currently testing an independent app for grocery delivery service and taking measures to integrate the same into the present JioMart platform.
The online grocery market has evolved and emerged over the years. And big names like Tata Group, Amazon, and Flipkart have entered the market of late. One of the stiff competitors from which JioMart is facing competition is BigBasket, a Tata brand, Flipkart Quick and Zepto, Swiggy’s Instamart, and Zomato backed Blinkit as these big names have entered the grocery delivery service market.
Reliance has delivered orders comprising laptops and smartphones that were placed through the app or Reliance Digital online in less than three hours.