
Meesho is an online reseller
platform that might not need an introduction. Due to its ability to make online
shopping and reselling simple and inexpensive, the website has successfully carved
out a niche for itself and grown in popularity among both customers and
retailers. Meesho offers prompt, safe transactions, affordable return policies,
and affordable delivery. Meesho is trusted by over 2.6 million resellers in
India. The Bangalore-based startup aspires to build an environment where
anybody can establish a business with no financial investment. Along with
having over 2 million resellers, the company also boasts of having more than
20,000 Meesho suppliers from more than 500 towns to its name. Meesho works on a
commission of about 10-15%, and sellers may earn money with Meesho by
introducing a gross margin to every transaction.
With a 48% market share,
Walmart's subsidiary Flipkart is still in the lead in the Indian e-commerce
industry. But right now, all the attention is on Meesho, a SoftBank-backed
platform that has become India's fastest-growing e-commerce company in terms of
user base. AllianceBernstein reports that Meesho's Year-on-Year (YoY) growth
has been astounding, at 32%, outpacing the growth of Flipkart and Amazon, which
have grown by 21% and 13%, respectively.Its emphasis on Tier 2 and smaller
cities—a market area that behemoths Flipkart and Amazon mostly ignored—is
largely responsible for the company's rise. Undoubtedly, the strategic
placement and zero-commission model have played a major role in Meesho's
success. According to the research, over 95% of Meesho's selection is
unbranded, and 80% of its sellers are retail business owners. Meesho's order
volume has increased by 43% year over year in terms of financial indicators,
and revenue has increased by a noteworthy 54%.Currently, the platform has an
average monthly user base of 120 million, with an 80% rate of repeat business.
According to the research, Meesho's current gross merchandise value (GMV) run
rate is above $5 billion, with garments accounting for over half of this
value.While Flipkart holds a significant portion of the online retail industry,
Meesho's growth rate in user base and app downloads is noteworthy. The
startup's user base is growing at 29% year-on-year, with a strong retention
rate.
Meesho was founded in 2015 by
Vidit Aatrey and Sanjeev Barnwal in Bengaluru. Meesho is an online shopping platform owned by the Indian company Fashnear Technologies Private Limited. It is an online marketplace that facilitates trade between suppliers, resellers and customers.