Mukesh Ambani, with a net worth of Rs 9,69,084 crore as per Forbes, is targeting the quick commerce market. Reliance Retail, led by his daughter Isha Ambani, has initiated a pilot program in Mumbai for rapid delivery of groceries and FMCG items, aiming to fulfill orders within an hour.
Reliance Retail, valued at over Rs 8,40,000 crore, is using the JioMart mobile app for this new service, which includes a ‘hyperlocal delivery’ option. The company plans to reduce delivery times to 30-45 minutes as more stores integrate into the system. Currently, Reliance takes about 12 hours to deliver daily necessities ordered online, with some deliveries taking up to three days.
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The quick commerce sector shows significant potential, evidenced by Zepto’s recent Rs 5,559 crore funding round, which valued the company at Rs 30,101 crore.
