Indian e-commerce startup, Meesho, reportedly announced that it has recorded a sales jump of 68% during its five-day festive season sale, where it saw nearly 33.4 million orders placed on its platform.
As per reports, the recently turned unicorn stated that almost 60% of its orders were from Tier 4 cities. The firm also recorded a 60% jump in transacting users during the sale, which also includes first-time e-commerce users as well as first-time online shoppers.
The company stated that the number of orders placed during the sale event was 68% higher than the previous year’s event.
Orders were received from across the country, including small towns and cities such as Leh, Bharuch in Gujarat, Kalimpong in West Bengal, Chimakurthy in Andhra Pradesh, and Una in Himachal.
Vidit Aatrey, Founder and CEO of Meesho, stated that more than 80% of orders placed on its website during the event were from Tier 2 cities and beyond, attesting to the company’s efforts in reaching underserved users having different needs in terms of selection and affordability.
The retailer began a 0% seller commission initiative which has helped in the digitalization of micro, small and medium enterprises, saving INR 104 crore ($12.75 million) in commissions during the sale.
Overall, the company stated that seller participation in its festive sale grew 4-fold from the previous year, with nearly 75% coming from Tier 2 and past markets.
Aatrey added that the firm plans to go further into India’s underserved areas, and that it is delighted with the success that small businesses are witnessing on the platform during the festive season.
Meesho's endeavor of building a platform that allows MSMEs to register high growth is being further strengthened.
Kitchen utilities, recording a 116% rise in sales, was the top growth category during Meesho’s festive sale, followed by beauty and personal care with 109% growth, and luggage and travel accessories with 99% growth.
The company statement added that Meesho aims to be the preferred shopping destination for online customers, boasting of 30 categories with 65 million active item listings and 800,000 sellers.
Source credit: https://economictimes.indiatimes.com/tech/startups/meesho-records-68-jump-in-festive-sales-with-3-34-crore-orders/articleshow/94528507.cms