Bangalore, India-based online e-commerce startup Meesho registered record orders of 5.35 Million. The Soft Bank and Meta-backed platform hosted ‘Maha Indian Savings Sale’ on June 5, 2022. During the one-day sale event, Meesho registered a five-fold jump year-to-year basis.
The Stats of One-Day Sale Event
Earlier on June 6, 2021, Meeesho recorded 1 million orders. Around 1 lakh sellers took part in the ‘Maha Indian Saving Sale.’
Nearly 75% of the sellers belonged to tier 2 and beyond regions. Some even participated from the deeper corner of the nation, such as Bathinda, Haldwani, Solapur and Tirunelveli, etc. Compared to business-as-usual (BAU), the sellers witnessed a 217% increase in orders during the sale. Meanwhile, 26000 were first-time sellers in the event.
On the other hand, 78% of the demand came from markets like Bhilai, Guntur, Hubli, Kollam, Meerut and Port Blair. Categories such as Apparel, Kid’s wear, consumer electronics and home decor made it to the highest growth list.
What the Meesho officials have to say
Utkrishta Kumar, CXO, Business at Meesho, said, “The recently concluded ‘Maha Indian Savings Sale’ witnessed a phenomenal response from both customers and sellers. Despite rising inflation and macroeconomic conditions, we hit an all-new record of 5.35 million orders during the one-day sale event, serving over ~20,000+ pin codes. In the last six months, we have witnessed a ~3.75X jump in seller participation in sale events. We will continue to fuel the discoverability of hyperlocal businesses and products, make e-commerce accessible to customers from all corners of the country, and innovate to become the preferred e-commerce destination for the next billion users in the country.”
About Meesho
Vidit Aatrey and Sanjeev Barnwal founded the Bangalore-based e-commerce platform in December 2015. It is an online reselling startup that enables sellers to undertake retail distribution with small or no investment.
It deals in fashion, home and kitchen appliances, and electronic products. Meesho’s vision is to build a single shopping destination for the next billion consumers in India.
The Facebook-backed startup turned unicorn in 2021. The platform is also eyeing an IPO early next year. Meesho’s app downloads increased nearly five times on a year-on-year basis to over 102 million in the January-March 2022 period. It has 44 million active product listings. The startup stands as the lowest-price destination catering to India’s value-conscious market.
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