Reliance Industries prepares to enter quick commerce market: Report

Reliance Industries, led by Mukesh Ambani, is set to enter the quick commerce market to compete with Zomato's Blinkit, Tata Group's BigBasket, Swiggy's Instamart, and Zepto.

According to media reports, Reliance Retail's JioMart could launch the service as early as next month.

The report further added that initially, JioMart will deliver groceries in 7-8 cities, with plans to expand to over 1,000 cities.

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This move comes a little over a year after the company ended its 90-minute grocery delivery service, JioMart Express. The new plan aims to complete deliveries in under 30 minutes.

Goldman Sachs estimates the size of online grocery market in terms of gross order value to be about $11 billion as of FY24 of which, quick commerce already makes up about 50% or $5 billion in GOV.

Analysts also say that instant deliveries may well be eating into the share of kirana store purchases. Currently, Blinkit leads the quick commerce sector with a 40-45% market share.