Meesho Reports 40% Growth In Orders During 'Blockbuster Sale'
Prepaid orders on Meesho surged by 117%, reflecting a shift in customer preferences towards digital payment options.
(Photo: Blake Wisz on Unsplash)
SoftBank-backed e-commerce firm Meesho announced on Monday that it achieved a remarkable 40% year-on-year growth in total orders during its latest annual festival sales. The company recorded 145 crore customer visits during the 10-day 'Meesho Mega Blockbuster Sale 2024', held from Sept. 27 to Oct. 6.
Meesho recorded approximately 6.5 crore unique visitors on its portal on the first day of its annual festive season event. Founder and Chief Executive Officer Vidit Aatrey announced that app downloads surged to around 1.5 crore leading up to the sale, with purchase orders doubling on the opening day compared to the previous season.
Milan Partani, general manager of user growth at Meesho, highlighted that the sale surpassed industry expectations, with around 3 crore app downloads and a 45% increase in new-to-e-commerce users, reinforcing Meesho's commitment to making e-commerce accessible and affordable for millions across India.
The statement revealed that approximately 45% of total customer visits came from tier-4 cities, indicating a significant demand surge in previously underserved areas.
Meesho successfully reached customers in remote locations such as Ranaghat (West Bengal), Neyyattinkara (Kerala), Bhadohi (Uttar Pradesh), Sangareddy (Telangana), Sivasagar (Assam), Jaynagar (Bihar), and Naugarh (Uttarakhand), alongside major metro cities like Delhi, Mumbai, Hyderabad, and Bengaluru.
Notably, prepaid orders on the platform surged by 117%, reflecting a shift in customer preferences towards digital payment options, particularly in tier-2 cities and beyond. In terms of product categories, the home and kitchen segment experienced a remarkable 105% year-on-year increase, while beauty and personal care grew by 60%, and kids' and baby essentials rose by 75%. Additionally, Meesho Mall, which features branded products, witnessed a two-fold increase in orders, showcasing the growing demand for quality items among consumers.
According to a report by research firm Statista, the number of online shoppers was estimated to be about 25 crore across India in 2023 and it is likely to increase to 42.5 crore in 2027.
(With inputs from PTI).
