E-commerce start-up Meesho registers 5.35 million orders in a sales day

SoftBank and Meta-backed e-commerce startup Meesho took 5.35 million orders during its one-day sales event, recording a five-fold jump year-over-year.

Meesho had registered 1 million orders during the “Maha Indian Savings Sale” which she organized on June 6 last year.

“From 1 million orders on June 6, 2021 to 5.35 million orders on June 5, 2022 – the e-commerce platform has seen tremendous growth despite the current macroeconomic conditions. Nearly one million sellers participated in the sale recent,” Meesho said. in a report.

Around 75% of participating vendors were from Tier 2 regions and above, including deeper corners of the country such as Bathinda, Haldwani, Solapur and Tirunelveli, among others.

Participating sellers saw an approximately 217% increase in orders during the sale, compared to the status quo (BAU).

More than 26,000 new sellers participated in the sales event, according to the statement.

“Despite rising inflation and macro conditions, we achieved an all-new record of 5.35 million orders during the one-day sale event, serving over 20,000 PINs. Last 6 months, we have seen a 3.75x increase in seller participation in sales events,” said Meesho, Commercial CXO, Utkrishta Kumar.

Meesho’s app downloads grew nearly 5x year-on-year to over 102 million in the January-March 2022 period.

“We will continue to fuel the discoverability of hyperlocal businesses and products, make e-commerce accessible to customers in every corner of the country, and innovate to become the preferred e-commerce destination for the next billion users in the country,” Kumar said. .

Meesho said nearly 78% of demand came from markets like Bhilai, Guntur, Hubli, Kollam, Meerut and Port Blair.

The top categories that saw the strongest growth during the sale were apparel, children’s wear, consumer electronics and home decor, according to the statement.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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