Mukesh Ambani to compete with retail giant Amazon
January 2, 2020 | Investopaper
Amazon, which dominates the Indian e-commerce market, has to now face the challenge from Asia’s richest man Mukesh Ambani. The two business empires of Mr. Ambani namely Reliance Retail and Reliance Jio has stated that they have soft-launched the JioMart venture.
Jio Mart offers free and express delivery of grocery goods. There are currently 50,000 items that the service aims to deliver to its customers. JioMart will not be providing and delivering the goods itself but it will act as a platform to connect local stores to customers through an app. So, it is different from its rival Amazon. The company will be using its huge mobile phone customer base as a platform for its business.
Amazon and Flipkart are the most dominating in the e-commerce market in India right now. After the new laws in India restricted the foreign-owned online retailers from selling goods from their own subsidiaries, both companies had to face disappointment last year. So, following this, Indian companies had an edge over these foreign companies.
