What is JioMart? Why Facebook Invested $5.7 billion in Jio?

Tech News Retail Posted by Admin 22nd May 2020 1.4k Views
jiomart
jiomart

Jiomart is an e-commerce venture between the top Indian telecom brand Jio Platforms and top retail chain Jio Retail.

Reliance Jio now wants to be the cock of the walk and to compete with the biggest giant in the e-commerce market. Reliance Jio has played a big role in getting hundreds of millions of people and small businesses online and help them in going digital.

What is JioMart?

JioMart is a joint venture of Reliance Retail and Reliance Jio Platforms which is an Online-to-Offline (O2O) e-commerce platform for grocery shopping connecting 400 million WhatsApp across India.

As we know small businesses are the core part of the economy and Jio with its JioMart and WhatsApp planning to reach than 60 million small businesses and millions of people across India. Reliance Jio is ensuring “hygiene and safety of staff,” round-the-clock, fair prices, operational warehouses, and daily supplies to the store. Jio with its new initiative -Jiomart planning to sell over 50,000 household products and will offer benefits that include.

  • Free home delivery
  • No questions asked return process
  • Express delivery promise

Using Jiomart customers can directly buy products from nearby sellers as it will be using online-to-offline (O2O) business model to serve consumers.

As of now, as the service is available only in Navi Mumbai, Thane, and Kalyan, users of those areas can visit Jiomart and pre-register. Jio is offering 3000Rs. discount for new users. Read More On: Tipsreport

Product categories

  1. Health Drinks & Beverages
  2. Beauty & Hygiene
  3. Snacks and Confectionary
  4. Instant and Ready Foods
  5. Dairy, Bakery & Eggs
  6. Cleaning & Household Care
  7. Foodgrains, Oils, and Masala
  8. Mom and Baby

Jiomart App

The JioMart app is not live yet, it will be available on both Android and iOS platforms to place an order on tap. The JioMart platform is only available in few cities of Maharashtra but soon it will function across India.

How to Place order on JioMart?

Benefits of JioMart

  • 50,000+ grocery products
  • Free home delivery
  • No minimum order value
  • 3,000 savings
  • No question asked return policy
  • Express delivery
  • Buy online or offline

Jio mart will accept payment by WhatsApp pay continuing this both companies would bring home the bacon and make a large profit. Facebook will be promoting WhatsApp pay and Reliance will promote its e-commerce app Jiomart. Both are planning big to challenge other e-commerce and digital payment companies.

This somehow may bring monopoly or duopoly in the telecom sector in India as Vodafone and Idea can’t cut the mustard. Indians always seek a level playing field to get fair price offers. There is a clear possibility that Jio Mart will become the best business in India soon. You can also read about the Best Business in India.

Why Facebook invested $5.7 billion in Jio?

Recently Mark Zuckerberg, founder, and CEO of Facebook acquired around 10% share of worth $5.7 billion Reliance Jio share and it is the largest FDI in the technology field in India. Reliance Jio has a big loan and they are supposed to be debt-free by March 2021 this is the reason why reliance sold his some shares.

Facebook has 336 million users in India and WhatsApp has 400 million. Facebook is planning to compete with online payment banks in India like G-pay, Phonepe, Amazon pay, the day is not so far on which we will see a new online payment bank, WhatsApp pay.

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