Festive Bonanza: Meesho Clocks 68% Growth In Orders, 60% Jump In Transacting Users

Riding high on the online festive season shopping, ecommerce unicorn Meesho has claimed to see 68% year-on-year growth in its total orders placed during its festive sales. Further, Meesho said during the five-day sale, customers placed around 3.34 Cr orders.

Meesho Mega Blockbuster Sale was live between September 23 and 27, 2022. 

As shared by the ecommerce platform, nearly 60% of all orders came from Tier 4+ cities and transacting users jumped by 60% during the sale, which includes those who are new to ecommerce and shopped online for the first time. 

“From Una in Himachal and Chimakurthy in Andhra Pradesh to Kalimpong in West Bengal, Bharuch in Gujarat and Leh, Meesho’s Mega Blockbuster Sale was instrumental in fulfilling Bharat’s festive shopping aspirations,” the company said. 

Along with customers Meesho has also claimed to see an increase in seller participation. 

Seller participation in Meesho’s Mega Blockbuster Sale saw 4X growth as compared to last year, while around 75% came from Tier-2+ markets and beyond. 

Further, the social commerce platform said it minted nearly 20,000 lakhpati and 24 crorepati sellers during the sale event.

“Meesho’s Mega Blockbuster Sale truly fulfilled Bharat’s festive shopping aspirations this year as a result of our continued focus on offering customers quality products at lowest prices. Over 80% of orders during the festive sale came from tier 2+ markets, which is a testament to our efforts to reach underserved users with different needs around selection and affordability,” Vidit Aatrey, founder and CEO at Meesho, said.

Segmental Growth Figures 

Among all the categories, ‘kitchen utilities’ grew by 116%; ‘beauty & personal care’ by 109%; and ‘luggage and travel accessories’ witnessed 99% growth.

In addition, fashion, home and kitchen, electronic accessories, beauty and personal care emerged as top-selling categories. 

“Products such as sarees, bluetooth headphones, dupattas, lipsticks, mangalsutras, smart watches, artificial plants and juicers were sold in record volumes, demonstrating the value consumers see on the platform,” the company said. 

In the meantime, the ecommerce platforms in the country collectively registered total sales of INR 24,500 Cr ($3.5 Bn) during the first four days of the festive season sales for 2022, registering 1.3X growth compared to last year, according to consulting firm Redseer.

However, the average user spending has not seen any significant growth in the festive sales this year as compared to last year, RedSeer said.

 Earlier, industry experts told Inc42 that the fashion category was expected to see high growth this year during the festive shopping season as life is going back to normal gradually. 

It is to be noted that Meesho has received $192 Mn from its parent entity recently. Meesho’s board passed a special resolution to issue 65,12,342 equity shares to Meesho Inc at an issue price of INR 2,408 per share, translating to a total amount of INR 1,568.17 Cr ($192 Mn), on September 9.