Mukesh Ambani's JioMart to enter quick commerce space in June? What we know

In the beginning, JioMart will deliver groceries in 7-8 cities. The company will later scale up to cover over 1,000 cities.

Mukesh Ambani's Reliance Industries may enter the quick commerce space as early as next month, it was reported. Reliance Retail's JioMart could launch the service soon to take on Zomato's Blinkit, Tata Group's BigBasket, Swiggy's Instamart and Zepto, Times of India reported citing people in the know.

Chairman and Managing Director of Reliance Industries Ltd. Mukesh Ambani in Mumbai.(PTI)

What we know about Reliance Retail's JioMart?

In the beginning, JioMart will deliver groceries in 7-8 cities. The company will later scale up to cover over 1,000 cities. This comes after Reliance discontinued its 90-minute grocery delivery service JioMart Express.

JioMart will not adopt a dark store model for its quick commerce operations but tap into Reliance Retail's vast network of stores and fulfilment centres, the report added.

Currently, JioMart offers slotted and next-day delivery options to customers but "over time, JioMart will also deliver non-grocery items through quick commerce," the report claimed. This is where it can effectively tap into Reliance Retail's over-18,000-stores across categories and formats and "JioMart is focused on hyper local omni-channel presence and continues to serve its customers from thousands of stores located in proximity to consumers across the country," the report claimed citing a source.

Quick commerce competition

Not only Reliance, Walmart's Flipkart is also gearing up to foray into the quick commerce space. Currently, Blinkit leads quick commerce with about a 40-45% market share. As per Goldman Sachs, the size of online grocery market in terms of gross order value is estimated to be about $11 billion as of FY24 of which, quick commerce makes up about 50%.