- 06 Jun 2022
- ICICIdirect Research
Reliance Retail forays into quick commerce with JioMart ExpressRELIANCE - 2331 Change: 96.35 (4.31 %)
News: As per media reports, Reliance Retail has started instant grocery delivery service through a new platform and app under the JioMart Express brand with trials currently ongoing in Navi Mumbai. The company plans to expand it to over 200 cities and towns where JioMart is currently active.
Views: Quick commerce is a fast growing segment, which has the presence of Tata-owned Big Basket, Zomato-funded Blinkit, Swiggy’s Instamart, Walmart-owned Flipkart Quick and Zepto. With entry into the segment, the company would be able to cater to customers who need shorter delivery period. JioMart Express is promising 90-minutes delivery and no minimum order value while free deliveries will be only for orders above Rs199. The company has the infrastructure as it has strong network of physical stores which could be utilised for fulfilling orders. The company has vast gamut of products across consumer categories from grocery to electronics. With faster delivery times it can retain its existing JioMart customers and also acquire newer customers which would aid in supporting sustained revenue growth.