The Business Bytes
TBB BUREAU
MUMBAI, MAY 7, 2022
Reliance Retail’s new commerce proposition has gained pace and registered 3-fold growth in merchant base in the financial year 2021-22.
Speaking on the financial performance, Gaurav Jain, Head – Strategy & Business Development, Reliance Retail said, “Our efforts in scaling up digital commerce and new commerce businesses are on track, and we continue to make new highs quarter after quarter. Digital orders are up 2.5x, merchant base is up 3x over the course of the year. Our share of business through all these new emerging channels is at about 17 per cent.”
Consumer electronics new commerce initiative, JioMart Digital witnessed 50 per cent sequential growth in new commerce business.
Similarly, fashion & apparel segment’s new commerce revenues witnessed 3.5x growth over last year with partner base now in over 3,500 towns across India. It has added 750 labels during the year and launched four own brands on new commerce platform.
The new commerce proposition for Kiranas has also gained pace and pharma category grew exponentially during the year. Year-on-year growth of merchants’ base increased 4x. It is now directly servicing kiranas in nearly 300 cities and towns witnessing more than 2x growth YoY. Supply locations and warehouses capacity increased 4 times with 21 Smart Hubs and 34 Staples Hubs getting operationalised during the previous quarter.
