India's youngest ecommerce giant received more than 60 orders every second during its one-day sale
Meeshowitnessed nearly a five-fold increase in the number of orders during its ‘Maha Indian Savings Sale’.
- The company also claimed that 78% of its demand came from Tier 2 markets like Bhilal, Guntur, Hubli and Kollam.
- Meesho claimed that nearly 1 lakh sellers have participated in the recent sale, out of which 26,000 were new.
AdvertisementFacebook-backed ecommerce company Meesho claims to have recorded 5.35 million (53.5 lakh) orders during its one-day sale held earlier this week on Sunday (June 5), translating to over 60 orders every second.
Meesho noted that it witnessed nearly a five-fold increase in the number of orders during its one-day sale this year, compared to 1 million orders in its 2021 sale.
The company also claimed that 8 out of 10 orders came from Tier 2 markets like Bhilal, Guntur, Hubli, Kollam, Meerut and Port Blair. Top categories to witness the highest growth during the sale were Apparel, Kidswear, Consumer Electronics and Home Decor.
Meesho claimed that nearly 1 lakh sellers have participated in the recent sale – and 3 out of 4 were from Tier 2+ regions like Bathinda, Haldwani, Solapur and Tirunelveli among others. “Participating sellers witnessed ~217% increase in orders during the sale event compared to business-as-usual (BAU),” the company added.
About 26,000 sellers participated in Meesho’s sale for the first time.
“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+ pincodes. In the last 6 months, we have witnessed a ~3.75X jump in seller participation in sale events,” Utkrishta Kumar, CXO of Business at Meesho, said.
Founded in 2015 by Vidit Aatrey and Sanjeev Barnwal, Meesho is an ecommerce company that has raised over a billion dollars till date. The company’s investors include Meta (formerly known as Facebook), SoftBank, Trifecta Capital Advisors, Fidelity Management and Research Company and others.
The company — whose mobile app has been downloaded 102 million times — was valued at $4.9 billion in September 2021. It claims to have over 44 million products listed on its platform.
Meesho competes with other ecommerce giants Amazon, Flipkart and Reliance’s JioMart. Although JioMart was founded four years after Meesho, the company was operating under the social commerce industry then. The company pivoted to the social commerce model only last year.
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