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The e-commerce pecking order has been altered. Bharat-focused on-line market Meesho has surpassed Amazon in festive sale order volumes this yr, rising because the second-largest participant after Flipkart. Meesho’s share of orders within the festive gross sales pie stood at 21 per cent, whereas Flipkart Group platforms led the market with a 49 per cent share.
“It’s attention-grabbing to see a brand new platform rising within the second place by way of order volumes,” mentioned Ujjwal Chaudhry, Companion, RedSeer Technique Consultants. “Meesho fulfilled 100 per cent of its orders by way of third-party logistics (3PL) gamers as a result of it doesn’t have a captive [logistics] arm like Flipkart and Amazon,” he added.
When it comes to Gross Merchandise Quantity (GMV), although, Flipkart and Amazon occupied the highest two positions, with 62 per cent and 26 per cent shares, respectively. Meesho’s share in GMV was expectedly decrease due to its low common ticket sizes given the platform’s worth commerce providing. Meesho, nonetheless, continues to be a powerful driver of development from Tier 2+ cities.
In a current interplay with Enterprise Right now, Meesho shared that it had minted over 20,000 lakhpati sellers in its five-day sale. Moreover, ~60 per cent of its orders got here from Tier 4+ areas. “Our vendor registrations grew 3x over final yr, and all classes grew exponentially, with some like vogue and kitchen utilities seeing non-linear jumps,” Utkrishta Kumar, CXO – Enterprise at Meesho, advised BT.
Two-third customers from Tier 2 cities
Total, the festive gross sales this yr noticed 75-80 million web shoppers, up 24 per cent from a yr in the past. Tier 2+ clients made up a whopping 65 per cent of customers this yr. Based on RedSeer estimates, within the interval between September 22-30, e-commerce platforms clocked a GMV of $5.7 billion (or Rs 40,000 crore). This was 27 per cent larger than final yr’s festive gross sales. Nonetheless, spend per shopper went up solely marginally by 3 per cent.
From a class perspective, mobiles continued to steer GMV with a 41 per cent share. About 56,000 telephones had been bought each hour, RedSeer revealed. Trend was subsequent, with a 20 per cent share of total GMV. “Trend emerged fairly robust and was the highest-growth class this yr. One of many causes was as a result of individuals went out extra in comparison with in 2021,” Chaudhry defined.
Electronics and enormous home equipment had been the opposite best-selling classes, rising 5.2x over common day by day gross sales. “Whereas the start of the final quarter was sluggish on demand, we noticed a superb uptick in shopper sentiment and consumption patterns in late August and September. This we anticipate will additional result in demand restoration within the build-up to Diwali,” RedSeer acknowledged.
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