National, April 28, 2022: Meesho, India’s fastest-growing internet commerce company, has acquired over 100 million transactors on its platform in the last one year alone. Since March 2021, the transacting user base on the platform has grown by ~5.4X and gross merchandise value (GMV) has risen ~3X. Keeping up with the surge in demand, the assortment has grown from ~8 million products to ~40 million products since last year, providing customers with a wide range of options to choose from.
Customers from tier 2+ markets are key drivers of this growth, accounting for 80% of all shoppers who have shown a preference towards Kidswear, Consumer Electronics and Home Improvement categories. Popular products include flip flops for kids, cleaning supplies, planters, bluetooth headphones and gaming accessories. The company intends to go deeper into India's underserved markets, becoming the preferred ecommerce destination for the next billion users.
“In the sphere of e-commerce, Meesho has achieved significant growth in a short span of time. We have been the fastest to reach 100 million transacting users. With nearly 80% of the demand coming from tier 2+ cities, our vision to democratize e-commerce for everyone is truly being brought to life. As we go deeper into India’s underserved markets, we are on track to become the preferred e-commerce destination for the next billion users in the country,” Utkrishta Kumar, CXO - Business at Meesho said.
Capitalizing on this rise in demand, micro, small and medium enterprises (MSMEs) are leveraging online retail and growing their business manifold. Meesho witnessed a 85% increase in seller registrations since April 2021, along with 3X growth in average seller revenue.
With industry-first initiatives such as zero commission, zero penalty and 7-day payments, the company aims to accelerate seller acquisition and set them up for success on Meesho. Nearly 70% of all Meesho sellers hail from tier 2+ cities such as Hisar, Panipat and Tiruppur, among others.
To provide its 5 lakh sellers and millions of users a seamless experience, the company recently rolled out an integrated app.
“Meesho has enabled the creation of thousands of jobs for delivery personnel and enabled lakhs of MSMEs to succeed online. We are building a platform that enables growth and margins for MSMEs,” Utkrishta Kumar, CXO - Business at Meesho added.
Meesho is India’s fastest growing internet commerce platform. With a vision to enable 100 million small businesses, including individual entrepreneurs, to succeed online, Meesho is democratizing internet commerce and bringing a range of products and new customers online. The Meesho marketplace provides small businesses, which includes SMBs, MSMEs and individual entrepreneurs, access to millions of customers, selection from over 700+ categories, pan-India logistics, payment services and customer support capabilities to efficiently run their businesses on the Meesho ecosystem.