Reliance Retail led Jio-Mart and Facebook, through its instant messaging platform Watsapp, is going to target 2-2.5 Crores SMEs and bring them in the eco-system of online from the current off-line mode. In the event organized by the Internet and Mobile Association of India, Ajit Mohan, VP, and MD of Facebook said that the Watsapp has already helped millions of Kirana Shops to digitize their shops and start selling online.
Mohan has also given an example of the recently published report of the BCG group that consumer behavior is shifting more towards buying online and there is a rise of 15-20% in the segments such as apparel, mobile phones, and packaged foods.
The recent event of COVID-19 which otherwise shook the economies of the whole world, however, has become a boon for certain sectors such as Pharma, Chemicals, e-commerce. And Jio-Mart being an e-commerce company has taken a big lap in grabbing the business.
To bolster its presence, Reliance Retail is also looking to buy Future Group Company. As per buzz in the market, on Saturday, the Future Group is raising money to pay back its pending dues, and Reliance may infuse funds in the company.
The coming years will be very interesting to see how e-commerce giants like Amazon, Reliance Retail, Flipkart fairs up in the competition.