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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 12 months, rising because the second-largest participant after Flipkart Group. 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,” stated Ujjwal Chaudhry, Associate, RedSeer Technique Consultants. “Meesho fulfilled 100 per cent of its orders by means of third-party logistics (3PL) gamers as a result of it doesn’t have a captive [logistics] arm like Flipkart Group and Amazon,” he added.
When it comes to Gross Merchandise Quantity (GMV), although, Flipkart Group 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 this moment, 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 12 months, and all classes grew exponentially, with some like vogue and kitchen utilities seeing non-linear jumps,” Utkrishta Kumar, CXO – Enterprise at Meesho, informed BT.
Two-third consumers from Tier 2 cities
Total, the festive gross sales this 12 months noticed 75-80 million internet buyers, up 24 per cent from a 12 months in the past. Tier 2+ prospects made up a whopping 65 per cent of consumers this 12 months. In response to 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 greater than final 12 months’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 have been offered each hour, RedSeer revealed. Style was subsequent, with a 20 per cent share of total GMV. “Style emerged fairly robust and was the highest-growth class this 12 months. 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 have 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 great uptick in shopper sentiment and consumption patterns in late August and September. This we count on will additional result in demand restoration within the build-up to Diwali,” RedSeer acknowledged.
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