While the top-notch social media application- WhatsApp is currently making it to the headlines for several reasons, a recent breakthrough surfaced recently would be Reliance Retail’s significant move to embed its e-commerce application- JioMart into the messaging app within the next 6 months.
Speculations have it that the move would allow about 400 million users of WhatsApp in India to order products without having the need to exit the app. Moreover, it has been claimed that the integration would enable JioMart to expand its reach across the country, allowing the parent company to pose a serious challenge to Amazon and Flipkart’s domination in India’s fast-evolving online retail industry.
In a bid to achieve this, business tycoon- Mukesh Ambani- is trying to clench a major share of India’s retail market, which is anticipated to surpass USD 1.3 trillion by 2025 end. However, it is crucial to mention that Reliance already stands to be the country’s biggest offline retailer and has substantially garnered much traction over a while.
For the record, Mark Zuckerberg led Facebook Inc., had already taken over a 9.9% stake in Reliance Industries’ digital unit Jio Platforms for USD 5.7 billion in April last year, and this move is apparently an extension of it, allowing both the companies to grow profusely in the upcoming years.
Speaking on the move, a WhatsApp spokesperson cited that through its investment in Jio, the platform is looking forward to bringing million of small businesses and the customer they serve under one roof into the digital economy; an initiative which would make it easier for businesses to connect easily with customers and close sales.
Meanwhile, Founder and Partner of Convergence Catalyst- Jayanth Kolla reported that the integration of JioMart is essentially likely to add a retail layer for WhatsApp chats. Besides, with payments being now available on the application, it makes all the more sense.
Source Credit: https://www.livemint.com/companies/news/reliance-aims-to-embed-jiomart-in-whatsapp-11610929194919.html