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Meesho eyes three-fold festive season order growth

Economic Times

Economic Times · 1y ago

Meesho eyes three-fold festive season order growth

Meesho, the SoftBank-backed platform, is aiming for a three-fold growth in orders during the upcoming festive season. To achieve this, Meesho will leverage its in-app brand store called Meesho Mall, which allows brands to sell directly to consumers. Meesho Mall has been growing at a rate of 30% month-on-month and has processed around 1 crore orders in the last six months. The platform aims to focus on accessibility, affordability, selection, and experience for its stakeholders while doubling down on its monetization efforts.

Related News

Meesho Bolsters Branded Products Play With Meesho Mall, Eyes Festive Sale Fervour

Inc42 · 1y ago

Meesho Bolsters Branded Products Play With Meesho Mall, Eyes Festive Sale Fervour

Indian ecommerce unicorn Meesho is expanding its presence in the branded products space ahead of the festive season sales. The company will list longtail and branded products on its in-app branded store, Meesho Mall, with a focus on categories such as beauty and personal care, footwear, and electronics accessories. Meesho aims to offer a diverse and affordable selection to its consumers while also supporting emerging and regional brands looking to reach a larger audience. The in-app store is expected to be a significant monetization tool in the future.

Meesho logs 120 crore customer visits during its 10-day festive sale

Economic Times

Economic Times · 1y ago

Meesho logs 120 crore customer visits during its 10-day festive sale

Indian e-commerce platform Meesho reported 120 crore customer visits during its 10-day festive sale, marking a three-fold increase in business. The sale, named "Meesho Mega Blockbuster Sale," saw categories such as home & kitchen, fashion, and beauty garner over 72 orders per second. The company recorded 1.6 crore new app installs and witnessed a surge in kids' wear purchases. Around 14 lakh sellers participated in the sale, offering 12 crore product listings across 30 categories.

Meesho's festive sale sees record orders on first day, 100% up on year

Economic Times

Economic Times · 10m ago

Meesho's festive sale sees record orders on first day, 100% up on year

Ecommerce platform Meesho saw a surge in orders during its festive season sale, with nearly double the number of orders compared to last year. The company reported a record-breaking start to its Mega Blockbuster Sale, with about 6.5 crore unique customers on the first day. Nearly 45% of the orders came from first-time customers. Meesho's success comes as Amazon and Flipkart also kick off their festive season sales, with ecommerce platforms anticipating increased demand for high-value items like electronics and fashion. A survey showed that 71% of Indians plan to shop online this festive season.

Ecommerce platforms target tier-2 and tier-3 cities for festive sales growth in India

Economic Times

Economic Times · 1m ago

Ecommerce platforms target tier-2 and tier-3 cities for festive sales growth in India

Consumer brands and ecommerce platforms in India are targeting tier-2, -3, and -4 cities to boost sales during the festive season. Companies like Amazon, Meesho, and Flipkart are expanding their delivery networks, while brands like Nykaa plan to bolster regional engagements and offer significant discounts. Despite slowing growth in major urban markets, smaller cities are poised for expansion, driven by increased smartphone penetration and disposable incomes. Platforms hope that festive demand will compensate for earlier sales declines.

Festive sales hit $6.5 billion in a week on ecommerce street: report

Economic Times

Economic Times · 10m ago

Festive sales hit $6.5 billion in a week on ecommerce street: report

- 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.

Ecommerce adoption in Tier II set to surge as 60% consumers boost festive online budgets: Meesho report

YourStory

YourStory · 11m ago

Ecommerce adoption in Tier II set to surge as 60% consumers boost festive online budgets: Meesho report

More than 60% of shoppers on Meesho, an ecommerce marketplace, plan to increase their online shopping budgets, indicating a growing trend of ecommerce adoption in Tier II cities. The company's report, "E-commerce Festive Forecast 2024," suggests a shift towards planned shopping, with 60% of respondents preparing their festive purchases in advance. Social media and influencers play a significant role in shaping consumer purchasing decisions, with 40% of shoppers driven by FOMO and 50% relying on influencer affiliate links. Positive reviews, high-quality content, and detailed product information also influence online purchases. Meesho has created around 850,000 seasonal job opportunities this festive season, a 70% increase from last year.

Festive hiring boom: E-commerce, quick commerce set to lead the way

Livemint

Livemint · 12m ago

Festive hiring boom: E-commerce, quick commerce set to lead the way

The upcoming festive season in India is expected to drive an increased demand for gig workers. Quick commerce companies like Zepto and Blinkit, as well as online retailers like Meesho and Amazon, anticipate a spike in demand for various products during the August to December period. These companies are likely to hire up to 20% more workers compared to last year. Other sectors such as consumer durables, FMCG, and BFSI are also expected to see a boost in hiring, albeit at a slower pace. The festive season is the peak recruitment season, with both physical stores and online platforms seeking to capture a larger share of sales through discounts.

Sale is live! ecommerce companies on track to hit 20-25% growth this season

Economic Times

Economic Times · 10m ago

Sale is live! ecommerce companies on track to hit 20-25% growth this season

Online retailers like Flipkart and Amazon are expected to experience a 20-25% growth in festive season sales this year, based on the response to the first three days of sales. The online retailers saw a 26% rise in sales compared to last year, totaling about $3.2 billion during September 26-28. Industry estimates predict gross sales of $12 billion for the entire festive season, including discounts and returns. Flipkart is on track to meet its targets, and various categories such as mobile, electronics, and consumer durables, as well as fashion and beauty, have seen significant growth.

Amazon Prime Day boosts sales across categories, but smartphones lag - The Economic Times

Economic Times

Economic Times · 25d ago

Amazon Prime Day boosts sales across categories, but smartphones lag - The Economic Times

Amazon's Prime Day sale saw substantial growth in several categories, including electronics, beauty, home, and fitness, despite lagging smartphone sales. Brands reported up to sixfold sales increases, indicating robust consumer demand and a strong start to the festive shopping season. This event serves as a crucial sales boost and market indicator ahead of the festive quarter. While metro city sales remained strong, tier II and III cities contributed significantly to the order volume.

India witnessed Rs 47,000 crore GMV in first week of festive sales; Flipkart takes lead: Report

IndianStartupNews

IndianStartupNews · 1y ago

India witnessed Rs 47,000 crore GMV in first week of festive sales; Flipkart takes lead: Report

The first week of India's festive season sale in 2023 saw online platforms generating a GMV of around Rs 47,000 crore, marking a 19% growth compared to the previous year. Flipkart Group maintained its dominant position with a 63% market share, closely followed by Amazon. Meesho secured the second spot in terms of volume. Consumer preferences leaned towards "essential upgrades" in categories like mobiles, electronics, and large appliances, contributing to 67% of the GMV. Financing options and the "pre-book and price-lock" feature drove premiumisation trends.

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