RELIANCE RETAIL’S E-COMMERCE PLATFORM JIOMART’S SELLER BASE SOARS 94% Y-O-Y IN Q4 FY24
Mumbai(24/04/2024): Reliance Retail’s e-commerce platform, JioMart, has expanded its marketplace offerings in the last one year with the seller base expanding by 94% year-on-year (YOY).
JioMart reported a ‘pretty healthy uptick’ in its order value for groceries.
Continuing its catalogue expansion, the e-commerce platform said that it has increased its option count by 32% Y-O-Y.
Dinesh Taluja, CFO and Corporate Development, Reliance Retail in the earnings call on Friday said, “Our focus has been on improving the average order values, which were 30% on a year-on-year basis, as well as an increase in the number of units per order, which is up 37% on a Y-o-Y basis.
While a lot of our selection is driven by 1P given the wide breadth of categories that we are present - electronics, grocery, fashion, to fill the increased assortment and provide customers with a wide variety of choices, we are also bringing 3P onto the platform.” Campaigns such as ‘Holi Ready’ & ‘Republic Day’ sales drove customer engagement with growth in sessions and GMV.
JioMart has also launched new functionality to enhance the shopping experience such as a ‘Buy Again’ widget, and a customer rating for products.
Retail Ventures (RRVL), the holding company of Reliance Retail, on Monday reported a consolidated net profit of Rs 2,698 crore for Q4FY24, which was up 11.7% versus the year-ago. JioMart is Reliance Retail's e-tail arm that debuted in 2020.
JioMart endeavours to empower entrepreneurs and strengthen the SMB community in India by providing them with one of India’s largest home-grown e-marketplace destinations.
It seeks to create an excellent experience amongst sellers and buyers with its convenient services, diverse choice of products, easy-to-use interface, quick delivery, and unparalleled deals .
