May 29, 2021 11:23 PM
Reliance Retail plans category expansion on JioMart to fight COVID-19, Reliance Retail is looking to accelerate its digital commerce by horizontally expanding across major categories on JioMart. The horizontal play envisages growing new commerce merchant partnerships across businesses and geographies. The company is also looking at expanding its own brand portfolio across categories to strengthen JioMart.
In its last earnings call, the company announced that it is in the process of launching new private label brands and wants to scale up the existing ones. The new brands will play a major role in fashion and lifestyle, electronics as well as grocery segments. The recent acquisitions of Urban Ladder and Zivame are also expected to size up the respective categories of the company’s retail business.
Reliance Retail, which is India’s largest retailer with 12,711 stores across the country, has already integrated its grocery and Trends stores network with JioMart. Over 400 Trends stores have been integrated as of last quarter, while the grocery store network of over 800 stores was integrated right from the launch of the e-commerce platform last year. JioMart has recently piloted the electronics category in Navi Mumbai with a select portfolio of products like audio accessories and small appliances.
Reliance Retail plans category expansion on JioMart to fight COVID-19; “On JioMart, the assortment is three times more than it was when we launched,” said Dinesh Thapar, group CFO of Reliance Retail, in the last analyst call. The emphasis is to offer widest possible selection to customers.