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Asia's Richest Person is now new competitor of Amazon and Walmart's Filpkart

Image Source: flickr

Asia's richest person is now ready for e-commerce market and ready to give tight competition to Amazon and Flipkart.

After spending billions on new regulatory changes that Indian government made on this e-commerce market, now Amazon and Flipkart have to face new challenge. Mukesh Ambani the richest person of Asia is now going to start its own e-commerce platform, named JioMart.

Reliance Retail and Reliance Jio, two subsidiaries of Ambani’s Reliance Industries, said they have soft-launched JioMart, their e-commerce venture that works closely with neighborhood stores, in parts of the state of Maharashtra — Navi Mumbai, Kalyan and Thane.



JioMart being marketed as "Desh ki nayi dukan"(country's new store) similar to Amazon "Apni Dukan".

Jio users will get extra benefits from JioMart. According to rumors Jio users will recieve extra discounts and express free delivery from Jio Mart on any purchases.

Amazon and Flipkart are taking various actions to take control of e-commerce market. Both these companies entered into new businesses, selling food groceries items and working on food retail.

According to TechCrunch Amazon has bought stakes in a number of retailers in India, including in India’s second largest retail chain Future Retail’s Future Coupons, Indian supermarket chain More and department store chain Shopper’s Stop.
Flipkart has invested in a number of logistic startups, including ShadowFax and Ninjacart. Amazon India was also in talks with Ninjacart to acquire some stake in the Bangalore-based startup, people familiar with the matter said.

Reference:- TechCrunch
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