Meesho records 5.35 million orders in one-day sale event
Facebook-backed e-commerce company Meesho received 5.35 million orders during its one-day sale event, a five-fold increase year over year. During the “Maha Indian Savings Sale” held on 6th June 2021, Meesho received 1 million orders. Meesho said in a statement, “From 1 million orders on June 6, 2021, to 5.35 million orders on June 5, 2022 – the e-commerce platform has witnessed a phenomenal growth despite the current macroeconomic conditions. Nearly 1 lakh sellers participated in the recent sales.”
Around 75% of the sellers were from tier 2 and beyond regions, including places like Haldwani, Bathinda, Solapur, and Tirunelveli, among others. Participating sellers witnessed around 217% rise in orders during the sale event, compared to business-as-usual (BAU). According to the announcement, the sale event attracted over 26,000 new sellers. “Despite rising inflation and macroeconomic conditions, we set a new record with 5.35 million orders placed during the one-day sale, serving over 20,000 pin codes.” We’ve seen a 3.75-fold increase in seller engagement in sale events in the previous six months,” Meesho, business CXO, Utkrishta Kumar, stated.
In the period January-March 2022, Meesho’s app downloads increased by approximately 5 times year over year to over 102 million. “We will continue to drive discovery of hyperlocal businesses and products, make e-commerce accessible to customers from all corners of the country, and innovate to become the preferred e-commerce destination for the next billion users in the country,” Kumar said. According to Meesho, Bhilai, Guntur, Hubli, Kollam, Meerut, and Port Blair (Andaman and Nicobar) accounted for roughly 78 percent of the demand.
Apparel, kid’s wear, consumer electronics, and home decor were among the top categories that saw the most growth during the sale, according to the statement. Meesho boosted its operating revenue to INR 793 crore in FY21, up from INR 3.8 crore in FY20, and has also earned non-operating revenues of INR 48.5 crore, with an average of 90 million orders per month. In September 2021, the start-up was named the world’s most downloaded e-commerce app after winning many awards. According to their website, they claim to have taken e-commerce to untapped markets by assisting 13 million women in starting a business with zero investment and with more than 75 percent of its users from Tier 2+ cities.
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