Insight Hits: 2285

JioMart to become the India’s fastest growing e-commerce platform

Insight Hits: 2285
Insight Hits: 2285

Launched in May by Reliance Industries, JioMart is set to become the fastest-growing e-commerce platform in India, says a Live Mint report. JioMart has scaled up partnerships with 1,700 merchants and extended ‘kirana’ store partnerships to 20 cities against six in the last quarter.

The platform is evolving into a multi-segment e-commerce play with inclusion of electronics, fashion and lifestyle and pharma products on its platform.

The e-commerce platform will increase RIL’s online gross merchandise value (GMV) to $35 billion in FY25, says Goldman Sachs.

The second quarter of this fiscal saw RIL’s retail business record robust growth across consumption baskets, posting sales of Rs 41,100 crore, an increase from Rs 31,620 crore in the preceding June quarter.

Higher bill value more than compensated for the lower footfall at the company’s grocery stores, 85 per cent of which were shut due to the pandemic-induced lockdown.

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