- Reliance Industries owned online e-commerce platform JioMart begins selling electronic products such as Vacuum cleaners, Cameras, Air Purifiers, etc.
- The decision is a part of its pilot project in Navi Mumbai.
- The company soon to start selling smartphones and tablets on its platform.
Reliance Industries eCommerce arm JioMart on Wednesday (October 21) started selling electronic items on its platform as part of its pilot project in Navi Mumbai.
According to the reports, Electronic items such as cameras, Vacuum cleaners, gaming consoles, trimmers, power banks, and other gadgets will be available on the platform.
With this decision, JioMart is directly challenging other e-commerce platforms such as Amazon and Flipkart. As per the report, JioMart will be selling the major of listed electronic products up to 60% discount to the customers.
While the product segment will be available only in Navi Mumbai, and soon to launch in other cities as well.
During the 43rd Annual General Meeting (AGM) in July this year, Reliance Industries Chairman Mukesh Ambani had said that JioMart will be a full-fledged e-commerce platform offering various product segments such as grocery, personal care, electronics, etc.
Last month, The platform began selling fashion and personal care products. Additionally, JioMart launched its subscription-based delivery service for its customers in Chennai and Banglore.
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According to the report by ET, JioMart's planning its entry into the electronics segment before the Diwali festival. Further, The company would also scale its new service to other cities to reach out to more customers.
While JioMart has established itself as one of the largest online grocery shopping platform, processing over 600,000+ transactions daily, said Sensor Tower Data.
Brokerage firm IIFL securities said The Reliance JioMart could clock revenue of Rs 4000 crore in its first year of operation. Meanwhile, The launch of the new product segment in the platform can bring more customers to reach and revenue.
Though Amazon and Flipkart are currently leading in the electronic products segment, attracting the customers by giving huge discounts on the product such as smartphones and other electronic items. The arrival of the electronic product segment will increase the competition for both the companies.
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