After just entering the Indian e-commerce market with JioMart in May 2020, Mukesh Ambani, India's richest man, has high aspirations for future growth. JioMart, focussing on online grocery shopping, has experienced a sharp rise in market share and is continuing to expand by collaborating with Facebook (FB).
JioMart will incorporate their service within Facebook’s subsidiary Whatsapp, which is already used by more than 400 million Indian consumers. Moreover, Whatsapp has just introduced their payment services to the Indian market, giving further potential for a large customer base to profit from easy and quick transactions within the App.
Goldman Sachs predicts JioMart’s market share could top half of Indian’s online commerce by 2025. It will be interesting to observe how market behemoths Amazon (AMZN) and Walmart (WMT), currently holding around 63% market share combined, will respond to JioMarts strategy