Reliance Jio led by Mukesh Ambani is now all set to launch a new e-commerce platform that is sure to give jitters to Amazon and Walmart-Flipkart.
Serving over 300 million subscribers in India Reliance Jio is reportedly working on a super app that will provide over 100 services at one platform.
As per the experts, launching a “super app” at this juncture would put Reliance in a pole position to create India’s WeChat, in the market where others like Snapdeal, Paytm, Freecharge, Flipkart and Hike have failed.
“The ubiquitousness of Jio devices puts Reliance in a powerful position. It can connect its vast ecosystem of its users with a multi-layered fabric, offering a rich array of services, connecting online-to-offline, through a one-stop, super app,” Prabhu Ram, head, Industry Intelligence Group (IIG), CMR, said.
Reliance Jio “super app” will serve as a one-stop destination for online bookings, payments, and e-commerce.
“India is a mobile-first nation and such a self-contained network that offers convenience will find favor with demanding consumers. All of these layers, on top of the Jio devices network, would put Reliance in a pole position to create India’s WeChat,” Ram noted.
According to a joint report by Deloitte and Retail Association of India, the fast-growing Indian e-commerce market which is likely to touch $84 billion in 2012 is set to face massive disruption with Reliance’s entry.
“Reliance is working on creating the world’s largest online-to-offline New Commerce Platform,” Ambani said at the “Make in Odisha Conclave” in November last year.
According to Mukesh Ambani, the new commerce platform will aim to transform the lives of around 3 crore merchants across the country, enabling them to do all that large enterprises and e-commerce giants are able to do with the help of technology.
With a 64.7% increase in its standalone net profit for the January-March quarter of FY2017-2018, Jio is at the peak of success.
We can only say when it comes to business no one does it better than Mr. Ambani.