This Amazon Rival Is Scaling Up at an Alarming Pace
It's been just over seven months since Amazon's (NASDAQ: AMZN) rival in India -- the Reliance Retail-owned JioMart -- started its services in India. The homegrown online grocery retailer had conducted a pilot run in limited locations in January this year before spreading its network to 200 cities in the country in the space of just four months.
After initial hiccups, JioMart finally seems to be finding its feet in India's e-commerce space. JioMart and Reliance Retail parent Reliance Industries recently pointed out that the e-commerce platform is now delivering over 400,000 orders daily. This comes just a couple of weeks after Reliance chairman Mukesh Ambani said that JioMart was processing 250,000 orders a day.
That rapid growth doesn't seem surprising as the JioMart app went online on iOS and Android last month, increasing the platform's accessibility as ordering items was earlier restricted to just the website. The app was downloaded 1.5 million times in two weeks. Amazon needs to be concerned about this as its online grocery business has been doing well in India, and JioMart could dent some of that momentum. Let's see how.
Source Fool.com
