Reliance Retail scales JioMart quick commerce, trades near-term margin for growth
JioMart's dark-store push lifted daily orders 116% YoY and seller base 26% YoY, but digital investment squeezed Q1 Ebitda margin to 7.9% from 8.7%. Reliance is chasing scale across 5,500 pin codes and 2,500 stores as Blinkit (47%), Zepto (24%) and Swiggy Instamart (22%) dominate the segment.
Reliance Retail is scaling JioMart's dark-store quick commerce network aggressively but with disciplined unit economics, targeting higher margins in grocery and electronics. Digital investment dented Q1 Ebitda margin to 7.9%, amid intensifying competition from Blinkit, Zepto and Amazon.