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Ecommerce Goes Beyond Metros! Meesho's 50% Customer Base Comes From Tier 4+ Cities
OutlookIndia
·
7m ago
Medial
Ecommerce platform Meesho has seen significant growth in customer engagement from tier 4+ cities, with nearly 50% of its user base coming from these regions. States like Ladakh, Uttar Pradesh, and Bihar have emerged as top performers, highlighting the untapped potential of tier 2+ markets. This growth is driven by factors such as improved internet access, affordable smartphones, and localized marketing strategies. Meesho has witnessed over 70% YoY growth in orders from these emerging markets, with categories like beauty, personal care, and home appliances being dominant. This trend reflects a shift in consumer behavior and the increasing importance of non-metro cities in the ecommerce sector.
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Meesho claims 40% increase in total orders during annual festival sales
Economic Times
·
10m ago
Medial
- Meesho, a SoftBank-backed ecommerce firm, experienced 40% year-on-year growth in total orders during its annual festival sales. - The company recorded 145 crore customer visits during the 10-day 'Meesho Mega Blockbuster Sale 2024'. - Tier-IV cities accounted for approximately 45% of the total customer visits during the sale. - Prepaid orders on Meesho's platform increased by 117%, indicating a shift towards digital payment options in tier-II and beyond. - Home and kitchen segment saw a notable 105% increase in YoY growth, beauty and personal care rose by 60%, and kids & baby essentials grew by 75%. - Meesho Mall, which offers branded products, witnessed a two-fold growth in orders.
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Former Meta Executive Mohit Rajani Joins Meesho As Chief Product Officer
Inc42
·
11m ago
Medial
Meesho has hired Mohit Rajani, a former executive from Meta, as its Chief Product Officer. Rajani's experience at tech giants like Meta and Google, where he led product initiatives at Instagram and Messenger, will help drive innovation and expand Meesho's ecommerce customer base. The appointment comes after recent additions to the board and amidst Meesho's strong financial performance, with a 77% revenue growth in FY23 despite some leadership departures.
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Dating app startups find love in small-town India
Livemint
·
16d ago
Medial
India's dating app market is witnessing growth beyond metro cities, with startups like QuackQuack and Schmooze gaining popularity in tier-2 and tier-3 cities. These new-age apps, which primarily focused on metros, are now adapting to capture the emerging digital romance trends in smaller cities. Whether they can succeed in monetization where global giants have previously struggled remains to be seen.
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Flipkart sees record 7.2B visits during festive season
YourStory
·
9m ago
Medial
During the festive season, Flipkart, the Indian ecommerce giant, experienced a surge in customer engagement with over 7.2 billion visits. The company observed a record-breaking 282 million unique visitors, mainly driven by personalized preferences and an increase in premiumization, particularly in metros and Tier II+ cities. Flipkart's efforts to expand its reach and redefine ecommerce have resulted in enhanced shopping experiences for customers across the country. Sellers on the platform also witnessed significant growth and increased sales compared to the previous year, with some experiencing a 40-50% year-on-year growth. Additionally, Flipkart successfully concluded its Crafted by Bharat sale event, showcasing over 25,000 unique handicraft products and impacting over 1.8 million livelihoods.
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Delhivery CEO Sahil Barua expects volatility in firm's revenue, margin profile in near term
Economic Times
·
1y ago
Medial
Delhivery CEO, Sahil Barua, stated in an analyst call that the company's surprise net profit of Rs 12 crore for the December quarter should not be used to forecast future performance. Barua highlighted the potential volatility in revenue and margins due to factors beyond their control. Delhivery reported a 20% year-on-year growth in operating revenue, primarily driven by festive sales and increased volumes from small and medium enterprises. Barua expects continued growth in ecommerce volumes at a rate of 15-20%, with order frequency increasing in metros and first-time orders driving growth in tier-II and tier-III cities.
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Myntra CEO Nandita Sinha: 40% of International Brand Orders Come from Tier II and III Cities
Startup News FYI
·
1y ago
Medial
Nandita Sinha, the CEO of Myntra, a prominent e-commerce platform under the Flipkart umbrella, has revealed that a significant portion of their international brand orders, approximately 40%, originate from Tier II cities and beyond in India. This article delves into Sinha’s insights, Myntra’s strategies, and its ambitions for attracting GenZ users and expanding its customer base. Click on the "View Source" button below to read more.
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A ₹10,000 crore bet on India's hotels: Investors pile in as sector scales up
Livemint
·
2m ago
Medial
India's hospitality sector is seeing significant transformation, with over ₹10,000 crore invested in hotel companies since 2023. This influx includes IPOs, mergers, and fund-raising initiatives, demonstrating strong investor confidence. New management companies are also targeting smaller cities to meet the growing demand for leisure travel. This wave of funding and consolidation is expected to drive long-term growth, as both legacy and emerging companies prepare to expand their presence beyond major metros into tier II and III cities.
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Ecommerce in competition with quick commerce
Economic Times
·
8m ago
Medial
The ecommerce sector in India is becoming more competitive as companies aim to offer same-day or two-four hour delivery services. This trend is being driven by the rise of "quick commerce" players. Major players like Flipkart, Nykaa, Myntra, and FirstCry are already offering same-day deliveries in metros and tier-1 cities. Myntra is piloting M-Now, a quick delivery service that promises delivery within 30 minutes to two hours in select Bengaluru pin codes. Other ecommerce platforms are also looking to offer faster deliveries, driven by increasing consumer demand.
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eBikeGo plans to expand electric two-wheeler fleet to 1 lakh units by FY26
YourStory
·
1y ago
Medial
Electric vehicle rental service operator eBikeGo plans to expand its fleet of electric two-wheelers to 100,000 units by FY26, targeting the growing last-mile and ecommerce sectors in India. With the domestic last-mile delivery and ecommerce business growing at 6.4%, the company aims to cater to the demand for affordable and sustainable delivery vehicles. eBikeGo plans to extend its operations beyond metropolitan cities and target Tier I and Tier II cities as well. The hyperlocal delivery market is expected to reach $92.50 billion by 2029, with increasing penetration into smaller cities and rural areas. The company currently manages a fleet of over 3,000 e-bikes.
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Meesho unveils its largest ever ESOP buyback programme worth Rs 200 crore
IndianStartupNews
·
1y ago
Medial
Indian unicorn ecommerce startup Meesho has launched its largest Employee Stock Ownership Plan (ESOP) buyback programme worth $25m, benefiting around 1,700 past and present employees. This is Meesho's fourth ESOP buyback, indicating its commitment to rewarding its teams. Unlike other ecommerce marketplaces, Meesho achieved profitability in July 2021 and has maintained positive cash flow. The company reported a 48% reduction in losses and a 77% increase in revenue year-on-year, reaching INR 5,735 crore ($769m) in the last fiscal year. Meesho focuses on Tier 2 cities and ha s a current Gross Merchandise Value run rate exceeding $5bn.
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