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Meesho claims 40% increase in total orders during annual festival sales

Economic TimesEconomic Times · 9m ago
Meesho claims 40% increase in total orders during annual festival sales
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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Festive sales hit $6.5 billion in a week on ecommerce street: report

Economic TimesEconomic Times · 9m ago
Festive sales hit $6.5 billion in a week on ecommerce street: report
Medial

- Online marketplaces recorded a 26% increase in sales, reaching $6.5 billion in one week of festive sales. - Mobile phones, electronics, consumer durables, home, and general merchandise accounted for three-fourths of the total sales. - Sales in the first week made up for about 55% of the total expected ecommerce sales during the festive season this year. - Ecommerce giants Flipkart and Amazon India started their annual festive season sales on September 27, with a strong demand observed from tier-II and beyond cities. - Supply chain issues pose a significant challenge for brands during the festive rush, with demand exceeding expectations in some cases. - Quick-commerce platforms are also witnessing growth during the festive season, particularly in categories like wearables and audio products.

Meesho delivers 1.3 Bn orders during first 9 months of FY25

EntrackrEntrackr · 3m ago
Meesho delivers 1.3 Bn orders during first 9 months of FY25
Medial

Homegrown e-commerce platform Meesho has released its first annual report, highlighting strong growth driven by technology and AI. The company claims that it became the first horizontal e-commerce platform in India to achieve profitability in FY24, generating Rs 197 crore in free cash flow. Its adjusted losses dropped by 97% to Rs 53 crore (excluding employee share-based compensation). As of December 2024, Meesho reported 187 million annual transacting users—serving approximately 13% of India’s population, as per the report. Between April and December 2024, users placed 1.3 billion orders, cementing Meesho’s position as the most downloaded shopping app for the fourth consecutive year. The platform processes 67 trillion features daily and handles 500,000 user requests per second at peak load. Meesho’s logistics arm, Valmo, handled over 50% of its daily orders, covering 15,000 pin codes and creating 85,000 jobs. Supporting 400,000 sellers with a 0% commission model, Valmo has made online selling more accessible for SMEs. In February last year, Meesho announced the launch of Valmo, a full-fledged logistics marketplace that allows the network of micro-entrepreneurs to become Meesho partners and deliver orders in their nearby areas. Meesho also plans to go public later this year, aiming to raise around $1 billion at a $10 billion valuation, with JP Morgan potentially joining the IPO syndicate.

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