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JioMart

JioMart Shopping Services Launched By Meta And Jio Platforms On WhatsApp.

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American Tech-Giant Meta and Mukesh Ambani’s Reliance Industries subsidiary JIO Platforms declared an e-commerce venture which would be the first worldwide end-to-end shopping experience for consumers on WhatsApp where they can order from JioMart straight without leaving the WhatsApp chat. This association will allow the customers to browse through the JioMart catalogue, select them, add the products to the cart and do the purchasing all within the chat via the local payments track Unified Payments Interface (UPI).

WhatsApp, the world’s most renowned messaging application used by approx. a half billion Indian population every month achieved the approval to broaden its payments powered by Unified payment interface (UPI) services previously this year to about 100 million users in the country after numerous regressions and interruptions.

Mukesh Ambani, Chairman and Managing Director, Reliance Industries, said, “When Jio platforms and Meta announced our partnership in 2020, Mark and I shared a vision of bringing more people and businesses online and creating truly innovative solutions that will add convenience to the daily lives of every Indian.”

Mark Zuckerberg, Founder and CEO, Meta, said in a Facebook post, “Excited to launch our partnership with JioMart in India. This is our first-ever end-to-end shopping experience on WhatsApp — people can now buy groceries from JioMart right in a chat. Business messaging is an area with real momentum and chat-based experiences like this will be the go-to way people and businesses communicate in the years to come.”

Source: economictimes.indiatimes.com

Meta formerly known as, Facebook, is a substantial minority investor or we say partner in Jio platforms, the largest telecommunication venture in India, providing their services to over four hundred twenty-one million subscribers. Also, Jio declared that it would be investing up to 25 million USD to introduce the 5G services in the country this year in October with its target to reach every town in the South Asian market by the end of the coming year.

JioMart
Image source: www.logisticsinsider.in

The launch of JioMart on Whatsapp tracks the JioMart and Meta starting to test a fusion with some selected users two years ago. If it were to be a success, a commerce platform could result in a great revenue increase for WhatsApp which has predominantly dodged serving ads to the app users. Also, it could be a prominent way to accelerate digital transformation in India through this innovative strategic partnership between these two renowned enterprises and offer people and businesses of all scales, be it small or large, promising opportunities to connect in several new ways and strengthen the economic growth of the country.

Chairman and managing director of Reliance Industries, Mukesh Ambani, said, “Our vision is to propel India as the world’s leading digital society. When Jio platforms and Meta announced our partnership in 2020, Mark and I shared a vision of bringing more people and businesses online and creating truly innovative solutions that will add convenience to the daily lives of every Indian. One example of an innovative customer experience that we are proud of developing is the first ever end-to-end shopping experience with JioMart on WhatsApp. The JioMart on WhatsApp experience furthers our commitment of enabling a simple and convenient way of online shopping to millions of Indians.”

Source: www.business-standard.com

Consumers can initiate shopping via WhatsApp on JioMart by just sending a ‘Hi’ message to the JioMart number, +917977079770, on WhatsApp and, explore the great deals on JioMart.

This announcement was part of the 45th Annual General Meeting also referred to as AGM by Reliance Industries limited administered by Mukesh Ambani himself. This innovative idea would open new gates of success for JioMart and WhatsApp.

PriceRunner

PriceRunner Sues Google For 2.1 Billion Euros.

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Sweden’s price comparison website on Monday, PriceRunner filed a lawsuit against Google for EUR 2.1 billion (roughly Rs. 17,930 crores) for promoting its own shopping comparisons in search results.

In recent years, Europe has tightened regulations on Big Tech’s business practices, and the EU is working on legislation to do so. US behemoths are facing fines and legal challenges in a number of European countries.

The Swedish tech startup expects the “final damages amount of the lawsuit to be significantly higher” because “the violation is still ongoing.”

According to CEO Mikael Lindahl, the lawsuit is also a fight “for consumers who have suffered tremendously for the past fourteen years and still today from Google’s infringement of competition law.”

PriceRunner
Image source: dw.com

The Swedish tech startup filed its lawsuit with the Patent and Market Court in Stockholm after the European Union General Court ruled that Google “breached EU antitrust laws by manipulating search results in favor of their own comparison shopping services.”

The European Commission imposed a EUR-2.4 billion (roughly Rs. 20,490 crores) fine on Google in 2017, claiming that results from Google’s own comparison service were “displayed in a more eye-catching manner.” An EU court upheld the fine in November, claiming that results from Google’s own comparison service were “displayed in a more eye-catching manner.”

PriceRunner said it was pursuing restitution for profits lost in the UK since 2008, as well as Sweden and Denmark since 2013.

Google has a “monopoly-like position” in the European Economic Area (EU plus Iceland, Liechtenstein, and Norway), according to PriceRunner, with more than 90% of the market share for internet search engines.

The price comparison website is headquartered in Sweden, with offices in Denmark, Norway, and the United Kingdom. It has previously stated its intention to expand into additional countries.

PriceRunner was bought by Swedish fintech Klarna in November for an undisclosed sum, though media reports put the price at over $1 billion (roughly Rs. 8,540 crores).

About PriceRunner

PriceRunner is a product and price comparison service with a global user base of 18.2 million people. The website is completely free to use and contains 2.2 million products from 5 900 shops. Users can compare prices on a wide range of items. In addition to price and product comparison, there are hundreds of product tests and guides available. The company operates in the United Kingdom, Sweden, Denmark, and Norway, among other countries.

PriceRunner’s mission is to make online shopping more convenient for consumers by assisting them in finding the best products and deals available. PriceRunner offers hundreds of product reviews and comparisons from a variety of retailers, as well as the ability to compare products, prices, and delivery options. Product experts carry out the tests over a long period of time in order to simulate the product’s intended use.

PriceRunner does not sell products; rather, it makes money by sending traffic to online stores and by displaying banner ads. PriceRunner currently employs 175 people in Sweden, Denmark, the United Kingdom, and Norway. Nicklas Storkers has been the company’s CEO since 2016. In October 2021, PriceRunner acquired the Norwegian price comparison site Prisguiden, expanding its operations to Norway.