🎊 Reliance Preps For Festive Showbiz With Debutant JioMarket, New Sellers
After partnering with brands dripped in luxury, bringing home green energy, and completing its 5G coverage strategy for the top 1,000 cities in India, Reliance Industries has pivoted its focus to its newest child in the retail marketplace, JioMarket.
Targeting the upcoming festive season, RIL will shortly begin operations and is currently onboarding sellers and D2C brands on JioMarket. The new operations will serve 30,000 pin codes and will feature more than 1 million products.
Reliance has hired two former Amazon executives to build JioMarket.
This is Reliance’s 2nd shot at disrupting the e-commerce marketplace ecosystem in the same way it disrupted telecom or e-grocery on JioMart.
Independent sellers currently offer their products only in those segments in which Reliance does not have a presence — auto accessories, sports goods, books, perfumes, and others.
They will be offered the same terms as Reliance Retail — similar commission, free deliveries, and no minimum order value.
The Indian government’s upcoming e-commerce policy mandates that marketplace operators and sellers remain distinct entities. Keeping its sellers independent is how Reliance is trying to comply with the mandate.
With the internal work complete, Reliance is all set to get the ball rolling on JioMarket. The conglomerate will also set to leverage Dunzo and Grab, the 2 logistics startups it has acquired.
Too long? Here’s a one-liner: Reliance will soon roll out its 2nd attempt at marketplace business, Jio Market; new operations to serve 30,000 pin codes and onboard new independent sellers.