We have seen that a lot of players have come and gone in the e-commerce sector all over the world and that includes the US, UK and emerging markets such as India, China or others. It is observed that the e-commerce players that have the best strategy right from the start and those who are willing to accept losses, in the beginning, have remained at the top right now while others have slowly disappeared. For that, you need to have strong backing and that is what the latest e-commerce player in India comes with.
It is reported that India has an entry of local e-commerce player named JioMart which is the latest venture from Mukesh Ambani, currently one of the world’s richest man. Ambani has also been known for Reliance Jio which is his venture in the telecom sector that has made massive waves for Indian users. Now that JioMart has been launched, it is definitely going to give some headaches for the likes of Amazon India as well as Flipkart which is owned by Walmart. And even though they are well-established, we know that Mukesh Ambani has the ability to disrupt the market with pricing and offers.
Right now, JioMart is launched in a limited number of cities and towns of India and it has only started selling grocery as well as essential items in the country. However, we believe that the company will launch non-essential items on the platform later on once the pandemic ends.
On the other hand, Jio has made a big investment in Facebook too which is due to leveraging its sales from platforms such as Facebook, Instagram and WhatsApp which are massively popular in India. Thus, the plan seems to be set for the company and we believe that the platform will do well.