JIOMART EXPRESS
Online discounts to rain heavy from July, ease dry spell of electronics, apparel cos
Brands are gearing up for a surge in online discounts and promotions starting this month, aiming to clear unsold inventory ahead of the festive season. Expectations are high for the discounts to be the steepest since Covid-19, particularly in categories like smartphones, electronics, and apparel, which have faced sales pressure in the first half of the year. Multiple sales events are planned by marketplaces like Amazon and Flipkart, including Prime Day and Independence Day sales, extending till Diwali.
Reliance Retail sets the ball rolling on delivery in an hour, starts pilot service in Mumbai, Navi Mumbai
Reliance Retail's Mumbai delivery service aims for quick fulfillment in 30-45 minutes, integrating with kirana stores for wider reach. The company is utilising tech platforms like FYND and Locus for efficient operations.
Reliance Retail plans 30-minute delivery model for quick commerce re-entry
Reliance Retail is re-entering the quick commerce market with a 30-minute delivery model, focusing on a wider assortment of products than existing players like Blinkit and Zepto. They will leverage their network of stores and kiranas, connected through the JioMart Partner initiative, for product sourcing. Unlike competitors, Reliance will not set up dark stores for under-ten-minute delivery but will optimize delivery routes using tech platforms like FYND and Locus. The venture will start with groceries and expand to apparel and electronics, utilizing the 19,000-plus store network.
Why Mukesh Ambani can't ignore a new consumer habit
Reliance Industries (RIL) chairman Mukesh Ambani is expanding the company's retail empire to include quick commerce services through JioMart. This move aims to compete with players like Blinkit and BigBasket, leveraging Reliance's extensive reach and resources. The shift towards quick commerce reflects changing consumer habits, favoring convenience and instant deliveries.
Next disruption? Reliance’s JioMart to enter quick commerce space to take on Blinkit, Zepto and others
Reliance Industries, led by Mukesh Ambani, plans to enter India's quick commerce sector, aiming to compete with Blinkit, BigBasket, Instamart, and Zepto. Initially targeting 7-8 cities, JioMart aims to expand to over 1,000 cities. Unlike rivals, it will leverage Reliance Retail's network instead of dark stores. Goldman Sachs estimates the online grocery market at $11 billion, with quick commerce accounting for $5 billion, possibly affecting kirana store sales.
Reliance Retail launches youth-centric fashion brand 'Yousta'; opens first store in Hyderabad
Reliance Retail, an Indian retail giant, has launched its youth-centric fashion brand called 'Yousta'. The brand offers high-fashion at affordable prices, with all products priced below Rs. 999. Reliance Retail plans to expand its portfolio by bringing in a new collection every week and also offering daily unisex merchandise and character merchandise. '
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Dunzo holds talks with debt investors to rejig credit terms
Dunzo’s efforts come at a time when it has simultaneously been looking to arrange new capital from both existing and new investors. In June, JioMart, the biggest customer of Dunzo’s B2B arm Dunzo Merchant Services (DMS), cut the prices it paid for last-mile deliveries made by bikes.
BigBasket B2B arm's loss widens 21% in FY23; turnover at Rs 2,261 crore
The unit also registered a turnover of Rs 2,261.3 crore for the fiscal year. In FY22, the unit’s losses stood at Rs 177.9 crore, while its operating revenue was Rs 1,707.2 crore. BigBasket’s parent entity Tata Digital is a part of Tata Sons.
Exclusive: Reliance JioMart lays off 1,000 employees; govt groups may submit AI rules framework soon
Layoffs have now hit Reliance Industries, with its wholesale format JioMart sacking over employees, as per people in the know. This and more in today’s ETtech Morning Dispatch.
Exclusive: Dunzo secures funding via convertible notes, lays off 30% of staff
About $50 million of the funding is coming from Google and Reliance Retail while other existing investors are putting in the rest.
Exclusive | Reliance JioMart shutters its quick delivery service 'Express'
Users can no longer download the JioMart Express app from the Google Play Store, and its website is also inactive. Instead, it is directing users to try JioMart on WhatsApp where deliveries are taking at least a few hours or the next day as opposed to JioMart Express, which was a 90-minute delivery service.
JioMart Express stops services; Reliance Retail to vie for a slice of beauty ecommerce
Within a year of its launch, Reliance Retail’s JioMart has halted the operations of JioMart Express, its quick commerce grocery delivery service. This comes at a time when players in this space are looking to increase their average order value and nudge consumers into longer delivery timelines to cut costs. This and more in today’s edition of Morning Dispatch.
Reliance Retail Plans to open small stores to sell electronics
Reliance Retail had earlier run a chain of small-sized stores under the brand Digital Express, which were shut down and converted to My Jio stores selling Jio connections and some mobile phones.
Meesho to widen logistics network with software; foreign investors cut stakes in IT firms
The solution will also let Meesho work more closely with local and regional players that may not have access to software solutions to service large volumes of ecommerce deliveries.
Reliance Retail pilots grocery delivery service through new platform, app
The company plans to expand the service by this calendar year end to more than 200 cities and towns where JioMart is currently operational , two industry executives said.
Reliance Retail hops on the 'instant' grocery delivery bandwagon
With this, Reliance will compete against Tata-owned Big Basket, Zomato-funded Blinkit, Swiggy's Instamart, Walmart-owned Flipkart Quick and Zepto. Unlike few platforms like Blinkit and Zepto who are targeting ten-minute delivery of the order, JioMart Express is promising 90-minutes delivery and no minimum order value though free deliveries are only for orders above ₹199.
War for instant grocery delivery set to intensify with entry of Reliance's JioMart
Reliance has plans to take instant grocery sales to over 200 cities and towns where JioMart is currently operational by end of next quarter and double the reach in next few months to make it India's largest instant grocer.
Cloudtail’s closure begins; Reliance aims to be quick-grocery giant
Cloudtail, which at one point accounted for more than half of all sales on Amazon in India, is now in its final days.
Amazon, Flipkart, others see strong festive season sales despite Shradh start
While Amazon, Flipkart and others like JioMart have recorded higher festive season sales in the first week compared to last year, the performance was muted due to clash with the last week of the inauspicious Shradh month.
Amazon tries Whole Foods-like online grocery delivery at More stores
Amazon Fresh online grocery orders in Bengaluru can now be picked up from the nearest More store within two-three hours. The service has gone live across many pin codes in the city.
Of ShareChat's valuation & Grofers' express rush
From ShareChat's new fundraising to Grofers joining the express delivery rush and Flipkart moving to SC challenging Karnataka HC order, here's a quick look at the top tech news today.
Zomato's express delivery
From Zomato's IPO debut to BlackBuck becoming the latest startup unicorn and RBI outlining its digital rupee plans, here's a quick look at the top tech news today.
After Tata acquisition, BigBasket wants to go big on express deliveries
According to cofounders Hari Menon and Vipul Parekh, fresh initiatives and changes under the new owner would play out over the next few months at BigBasket, as Tata Group gets ready to launch its much-anticipated super app.
Small businesses thrived without Amazon or Flipkart. So did the logistics industry
With small businesses finding solace in the e-commerce model, the logistics industry tagged along.
General Atlantic & TPG in talks to invest up to $1 billion each in Reliance Retail
One of them said the private equity funds are in talks to invest up to $1 billion each in the country’s largest retailer. In the past three weeks, Silver Lake and KKR have said they will invest slightly more than Rs 13,000 crore in the company, valuing Reliance Retail at Rs 4.21 lakh crore.
First-time buyers from small towns may help etailers bag big gains this festive season
The season will be dominated by a fight for market share among three big online platforms — Amazon, Walmart-owned Flipkart and new entrant Reliance JioMart. Also expected to gain from the boom in online buying are e-grocers BigBasket and Grofers, furniture etailers such as Pepperfry, beauty and grooming platform Nykaa, and baby care platform FirstCry.
Reliance terms reports of stake sale to Amazon speculative
Amazon was an investor in Future Group, whose retail business was acquired by Reliance late last month for Rs 24,713 crore. On September 9, RIL announced the divestment of 1.75 per cent stake in the retail arm to private equity firm Silver Lake Partners for Rs 7,500 crore.
Netmeds to complement RIL's digital consultation, diagnostic test offering, say analysts
Over the past three years, RIL has announced USD 3.1 billion in acquisitions with 13 per cent in retail, 80 per cent in telecom, media and technology, and 6 per cent in energy.
View: The coming Facebook-Jio stress test for the CCI
Reliance Jio will approach the Competition Commission of India to clear its Facebook deal.
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