Reliance Industries Limited’s e-commerce venture JioMart, entered the list of top three downloaded shopping apps in India in August. The online grocery app was only behind Flipkart and Amazon in terms of downloads last month.
Data from Sensor Tower shows that JioMart has recorded over 4 million downloads in August. E-commerce giants Flipkart and Amazon were the top two players with 8.7 million and 8.3 million downloads respectively.
The spike in downloads has come at a time when JioMart established itself as the largest e-grocer in India within three months of its launch. The company processes over 500K transactions a day, according to industry watchers. On July 31, JioMart announced that it was receiving 400K orders every day.
In comparison, BigBasket (with BBDaily and DailyNinja) does over 250-350K orders while Grofers and Amazon Pantry clock over 100K orders each.
A joint venture between Reliance Retail and Jio Platforms, the JioMart app was launched on July 16, almost two months after Reliance launched the JioMart website. Since then, the online grocery platform has expanded to over 200 cities.
Within two months of going live on the app stores, its app has cornered close to 7 million downloads to date. The upsurge in downloads numbers would set further momentum for the online grocery platform that is likely to add medicine and fashion verticals in the coming months.
In the top five most downloaded shopping apps in August, Reliance Retails’s fashion and lifestyle brand AJIO and online classified platform OLX were ranked at fourth and fifth place, respectively. BigBasket and Grofers have been leading the downloads chart with over 26 million and 22.7 million downloads respectively in the overall e-grocery segment.
Until last week of July, JioMart had close to 13,500 kirana stores on its platform and according to our previous report, the number would reach 30,000 before the festive season.
Experts believe that JioMart has the potential to disrupt the online grocery segment in a few years. According to a Goldman Sachs report, JioMart is likely to dominate 50% of online grocery in India by 2024.
While online grocery is not a winner take all market and multiple players will emerge from the segment, it would be exciting to watch how BigBasket, Amazon, Grofers and Flipkart would chalk out strategies to tackle the mighty Reliance.