Meesho, the SoftBank-backed e-commerce platform, has reported a remarkable 40% increase in total orders during its annual festival sales, specifically the ‘Meesho Mega Blockbuster Sale 2024’ held from September 27 to October 6. This substantial growth is indicative of changing consumer behavior and preferences in the rapidly evolving e-commerce landscape.
During this ten-day sale, the platform recorded an astonishing 145 crore customer visits. The heightened interest reflects not only the effectiveness of Meesho’s marketing strategies but also a significant shift in how consumers shop online. With around 3 crore app downloads and a remarkable 45% increase in new-to-e-commerce users, Meesho aims to make online shopping accessible and affordable for millions nationwide.
The festival sale attracted considerable interest from tier-IV cities and remote locations. In fact, almost 45% of all customer visits came from these less urbanized areas. Locations such as Ranaghat in West Bengal, Neyyattinkara in Kerala, Bhadohi in Uttar Pradesh, Sangareddy in Telangana, Sivasagar in Assam, Jaynagar in Bihar, and Naugarh in Uttarakhand demonstrated notable engagement with the platform. Major metropolitan areas like Delhi, Mumbai, Hyderabad, and Bengaluru also contributed significantly to the overall bump in customer traffic.
The popularity of digital payments during this sale was notable, revealing a shift in consumer preferences. Meesho reported a staggering 117% increase in prepaid orders. This shift highlights a growing acceptance and utilization of digital payment methods, particularly in tier-II cities and beyond, suggesting that consumers are increasingly comfortable with cashless transactions.
When it comes to product categories, Meesho reported impressive growth figures across various segments. The home and kitchen category saw a notable 105% increase in year-on-year sales, while the beauty and personal care segment rose by 60%. Kids and baby essentials also experienced a healthy 75% growth. These statistics point to changing consumer priorities, with many users likely focusing on essential goods and home-related products as part of their shopping strategy during festive times.
The platform’s specialized division, Meesho Mall, which focuses on branded products, witnessed a two-fold increase in orders, further demonstrating the effectiveness of the sales strategy employed during this period. By catering to both budget-conscious shoppers and those seeking brand names, Meesho successfully captured a diverse customer base, enhancing overall order volume.
Meesho’s success during the Mega Blockbuster Sale can be attributed not only to effective marketing and a user-friendly platform but also to the company’s commitment to meeting the specific needs of its diverse customer base. With a clear focus on making e-commerce accessible to all, Meesho continues to reinforce its position as a leader in the Indian e-commerce landscape.
Overall, the significant growth reported during the ‘Meesho Mega Blockbuster Sale 2024’ highlights the important shifts occurring within the retail and e-commerce industries. As more consumers embrace online shopping, especially from underserved areas, companies like Meesho can expect continued growth and expansion opportunities.
This success story serves as a crucial reminder for e-commerce players about the potential for growth by tapping into new customer segments, particularly in tier-II and tier-IV cities. The future of digital retail appears promising, especially for companies that can adapt to the changing dynamics of consumer behavior and preferences.
