Social commerce platform, Meesho, said on Thursday that it has recorded 750 per cent growth in users over last year during its flagship festive sale event --- Maha Indian Shopping League. Nearly 60 per cent of the total demand was driven by Tier 4+ markets, including remote locations like Khawzhwal and Sopore.
"Fuelling our efforts to digitise Bharat, Maha Indian Shopping League served as an entry point for millions of users to shop online with Meesho. Our focus on providing quality products at the lowest-price for customers coupled with ease of doing business for sellers is adding momentum to our mission of democratising internet commerce in India. Our flagship festive sale event saw over 80 per cent orders coming from tier 2+ markets, a true reflection of our efforts to cut deep into India's underserved regions," Vidit Aatrey, Founder & CEO, Meesho said.
According to various industry estimates, the e-commerce platforms are likely to clock a $9.8 billion sales this year, with a 20 per cent year-on-year growth despite the Covid-19 pandemic onslaught.
The Bengaluru-headquartered firm said that through its industry-first 0 per cent commission model launched early this year, sellers on Meesho saved over Rs 13.6 crore during the festive sale event alone. Recording over 10X growth in sales over last year, the company also saw seller participation rise by 314 per cent during Maha Indian Shopping League. Ahead of the sale event, Meesho onboarded over 1 lakh sellers with a bevy of new initiatives including -- free ad credits and zero return shipping charges on the first 30 orders.
Customers, on the other hand, as per the company handout, saved over Rs 60 crore through discounts during the sale period on Meesho. The company witnessed significant traction in its fashion category. While women's apparel and accessories grew by 623 per cent, the men's apparel segment witnessed 640 per cent more orders compared to the previous year.
Facebook-backed Meesho had turned unicorn earlier this year and had a successful follow-on fund raising round worth $570 million at $4.9 billion valuation led by Fidelty Management and B Capital Group.
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