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Meesho, realizing the potential of social media in India, gave resellers more power with platforms like WhatsApp, creating a viral marketing network that built trust instead of relying on expensive advertising channels. On 27 September 2024, Meesho, the only real e-commerce platform in India, launched its yearly "Meesho Mega Blockbuster Sale" with an incredible first day. Compared to the previous year, the company's Day 1 orders increased by an astounding 100%, and its daily orders exceeded by over three times.
Meesho: zero-commission business strategy
Meesho's zero-commission business strategy and strategic focus on Tier 2 and smaller cities are primarily responsible for the company's increase in market share. Meesho's order volume increased by 43% YoY in the past 12 months, with a 54% revenue growth and almost 80% repeat business. Meesho continued to be the top downloaded shopping app in India, with a stunning rise of about 1.5 crore app downloads in the run-up to the sale. On Day 1, about 6.5 crore users shopped on the website in areas like fashion, kitchen & home, electronics, and personal care & beauty. Meesho observed that, on average, 360 items of children's apparel, 376 sarees, and 506 kurtis were sold every minute! Orders at Meesho Mall increased by 2.5 times over the previous year, with clients making their first purchases there accounting for about 45% of the total. Remarkably, orders on Mamaearth increased fivefold, Denver had an eightfold boom, Swiss Beauty expanded 7.5 times, Bella Vita saw a fantastic 17.5 times growth, and orders on Mars increased fourfold.
Meesho set a new record this year
"We're thrilled by the overwhelming response to day 1 of our Mega Blockbuster Sale," said Megha Agarwal, General Manager of Business at Meesho. We sincerely appreciate this excellent start and are grateful to our esteemed sellers, brand partners, and devoted customers. We doubled our Day 1 orders over the previous year, setting a new record. Furthermore, Meesho Mall saw a ~2.5X increase in orders compared to the prior year. Demand exceeded our brand partners' expectations, including Mamaearth, Denver, Swiss Beauty, and others. We are committed to providing every user with an outstanding seasonal sale experience, and we will keep up this effort for the festive season. The social commerce platform Meesho developed is attracting large investors' interest, including Sequoia Capital and SoftBank Vision Fund.
Meesho wants to give shoppers in India a wide selection of reasonably priced, high-quality products
The ability for users to "resell" products listed by suppliers to generate profit margins is Meesho's unique selling proposition. In essence, this is a condensed dropshipping business plan. All you need to register for a Meesho account is a smartphone. Meesho wants to give shoppers in India a wide selection of reasonably priced, high-quality products to pick from throughout the holiday season. The platform has over 20 lakh sellers and over 12 crore product listings across 30 categories. This strategy made use of the extensive social network and trust-based selling. Meesho's approach attracted those wishing to launch small enterprises without substantial capital because it required resellers to invest very little.
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