Meta and Jio recently announced the launch of the first-ever end-to-end shopping experience on WhatsApp, allowing consumers in India to shop from JioMart right within their WhatsApp chat.
JioMart is a $221 billion retail chain in India, but it currently has limited e-commerce offerings. The new strategic partnership would help Reliance Retail to take on Amazon and Flipkart and supports businesses in India to connect with customers and simplify the consumer shopping experience, the company said in a press statement.
In April 2020, Facebook purchased a 10% stake in Reliance Jio for Rs 43,574 crore, making it the significant minority shareholder in Jio Platforms. As part of the investment, Facebook’s messaging app WhatsApp had teamed with Jio Mart to help people connect with small businesses in India.
The latest announcement between Jio and Facebook comes at a time when WhatsApp is experimenting with its digital payment service in India, which will compete with the likes of PhonePe, Paytm, and Google Pay...