Wednesday, May 18 2022

BENGALURU : Social commerce platform Meesho has increased its share in the fashion category during the holiday sales with affordable and value offers, according to estimates by management consulting firm RedSeer Consulting.

The fashion category contributed nearly 17% of the overall gross merchandise value (AGV) during the first week of the holiday sales. While horizontal platforms such as Flipkart and Amazon India generated 70% market share in fashion, 30% of sales were generated by vertical clothing platforms such as Myntra and AJIO, according to estimates by RedSeer.

Of the 30%, Meesho took almost 39% of the shares fighting against apparel-focused platforms.

“In the remaining market (30%), Meesho was able to secure a 39% share (of the remaining market) with its affordable offerings targeting a typical Indian household looking for good value products. […] Fashion has seen a resurgence on the backs of a widely vaccinated population seeking wardrobe refresh for social gatherings and the holidays, ”RedSeer added.

Meesho hosted her five-day “Maha Indian Shopping League” festive sale with Amazon and Flipkart. For the social commerce platform, almost 60% of the total demand came from Level IV markets, including remote locations such as Khawzhwal and Sopore.

“Fueling our efforts to digitize Bharat, the Maha Indian Shopping League has served as an entry point for millions of users to shop online with Meesho. Our flagship festive selling event recorded over 80% orders from Tier II markets and beyond, a true reflection of our efforts to penetrate deep into underserved areas of India, ”said Vidit Aatrey, founder and CEO of Meesho.

According to Meesho, it saw a 750% growth in user numbers compared to last year during its flagship festive sale event.

The company also added that it had seen more than tenfold growth in sales compared to last year and that seller participation had more than tripled in its flagship festive sale this year.

Ahead of the sales event, Meesho onboarded over 100,000 sellers with a host of new initiatives, including free ad credits and zero return fees on the first 30 orders.

He also added that orders for women’s clothing and accessories on the platform as well as men’s clothing on the platform almost six-fold, compared to the previous year.

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