Over 1 crore orders, 50 lakh new customers, Meesho all set ahead of festive season in the country

Meesho clocks 1 crore pre-festive sales: E-commerce platform Meesho has announced that the company has received approximately 1 crore orders from its pre-festive season promotions during Onam, Raksha Bandhan, and Ganesh Chaturthi. This comes ahead of the company announcing the launch of its festive season sale. Meesho also said that it has added over 50 lakh new customers.

The e-commerce unicorn said that a significant 75 per cent of the demand originated from Tier II cities, including Amravati, Aurangabad, Dehradun, Nellore, Solapur, and Warangal. Meesho also added that it has onboarded 2 lakh new sellers to its community in the past two months.

“As we gear up for the upcoming festivities, we are certain to see the momentum uplift for categories such as Personal Care & Beauty, Home & Kitchen as well as Electronic Accessories to grow by more than 100 per cent, when compared to 2022," said Megha Agarwal, CXO, Growth at Meesho.

Agarwal also added the company’s strategic efforts, including selection enhancement and improvements with respect to product discovery, have contributed significantly to improving the order growth.

Meesho was founded in 2015 by Vidit Aatrey and Sanjeev Barnwal. It addresses both customers and resellers. Since its inception, the company has raised close to $1 Bn in funding from investors like Peak XV, SoftBank, Prosus & Naspers, and Meta, among others.

The platform boasts 14 lakh sellers and approximately 12 crore product listings across 30 categories.

Eyeing the several million non-GST registered sellers, Meesho had earlier this week opened up its platform to onboard them for selling products online.

"The platform has made significant technological adaptations that will enable non-GST sellers to start selling on the platform from October 1, 2023. This move will potentially unlock 15-20 million sellers in under-penetrated states for the company," Meesho said in a statement.

The statement further added that based on industry estimates, about 1.2 million sellers drop out every year during the registration process due to GST requirements.

Meesho said it recognises the unique characteristics of non-GST registered sellers, such as their high motivation and locally relevant selection from categories like fashion, consumer electronics and home and kitchen.

"We believe that this exemption will not only open up vast horizons for aspiring entrepreneurs but also contribute significantly to enriching our product offerings, and enhancing our consumers' experiences. We look forward to this transformative journey, committed to our goal of digitizing 10 million sellers by 2027," Meesho cofounder and CEO Vidit Aatrey said.