- 12 Oct 2022
- ICICIdirect Research
Jiomart witnesses strong order traffic in initial phase of festive season
News:
As per media reports, Reliance Retail’s online platform JioMart has witnessed 2.5x growth in traffic and overall sales during first phase of festive sales.
View:
The company has enhanced the number of products offered on the Jiomart platform by 80x compared to last year and increased its delivery footprint in many tier 2 towns and beyond. Growth on the Jiomart platform is mainly driven by sales from tier 2 towns and beyond, which have contributed to over 60% of orders. Also, the company has widened its category offerings on the Jiomart platform, which is driving higher traffic and revenues. Reliance Retail’s extensive network of physical stores including Reliance Smart, Reliance Trends, Reliance Digital and third-party selling partners, are expected to ensure timely delivery for orders placed on the Jiomart platform during the ongoing festive season and be able to accelerate the revenue growth trajectory.
Impact:
Positive.