Meesho saw the number of orders almost fivefold during the ‘Maha Indian Savings Sale’.- The company also claimed that 78% of its demand came from Tier 2 markets such as Bhilal, Guntur, Hubli and Kollam.
- Meesho claimed that nearly 1 lakh sellers participated in the recent sale, of which 26,000 were new.
Facebook-backed e-commerce company Meesho claims to have registered 5.35 million (53.5 lakh) orders during the one-day sale held earlier this week on Sunday (June 5), equating to more than 60 orders per second.
Meesho noted that it nearly quadrupled orders this year during the one-day sale, compared to 1 million orders during the 2021 sale.
The company also claimed that 8 out of 10 orders came from Tier 2 markets such as Bhilal, Guntur, Hubli, Kollam, Meerut and Port Blair. The main categories that witnessed the greatest growth during the sale were Apparel, Children’s Clothing, Consumer Electronics and Home Decor.
Meesho claimed that nearly 1 lakh sellers participated in the recent sale – and 3 of the 4 were from Tier 2+ regions such as Bathinda, Haldwani, Solapur and Tirunelveli. “Participating sellers witnessed a ~217% increase in orders during the sales event compared to business-as-usual (BAU),” the company added.
About 26,000 sellers participated in the sale of Meesho for the first time.
“Despite rising inflation and macroeconomic conditions, we reached an all-new record of 5.35 million orders during the one-day sales event, with over ~20,000 PINs. Over the past 6 months, we’ve witnessed a ~3.75X jump in merchant participation in sales events,” said Utkrishta Kumar, CXO of Business at Meesho.
Founded in 2015 by Vidit Aatrey and Sanjeev Barnwal, Meesho is an e-commerce company that has raised more than a billion dollars to 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 on its platform.
Meesho competes with other e-commerce giants Amazon, Flipkart and Reliance’s JioMart. Although JioMart was founded four years after Meesho, the company was operating under the social commerce industry at the time. It was only last year that the company switched to the social commerce model.
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