Meesho aims to reach 100 million monthly transacting users by Dec 2022

Bluetooth headphones, choppers and peelers topped shopping charts of the ecommerce platform this year.

Meesho said on Thursday its aims to reach 100 million monthly transacting users by December 2022 an internet commerce platform and increase its roster to over 50 million products.

Over the next year, the SoftBank-backed firm said it will continue to fuel the discoverability of hyperlocal businesses and products, make e-commerce accessible to value-conscious customers. Meesho raised $570 million from investors, including SoftBank, in September. After the funding, Meesho’s valuation more than doubled to $4.9 billion in less than five months.

As India’s retail industry evolves, a growing number of value-conscious online shoppers are reshaping the landscape of Indian e-commerce. Bluetooth headphones, choppers and peelers topped shopping charts on Meesho this year.

With lockdowns extending work from home and pausing socializing or dining out, Indians took matters in their own hands. Over 45 lakh bluetooth headphones and 17 lakh choppers and peelers were sold in 2021. Sarees, kurtis and kurtas, and printed bedsheets were also among the top-5 products sold this year.

India shopped the most on Wednesdays, driven by women shoppers and men preferred Sundays. Beating the post-lunch slump, 2 pm to 3 pm was the most preferred time to shop on Meesho through the week. Port Blair stocked up on kitchen towels and lingerie was the most ordered product in Goa. Srinagar’s favourite product was onion hair oil and mangalsutras were a favourite in Hyderabad.

Meesho witnessed 15x growth in direct-to-platform customers over the previous year. In 2021, 71 per cent of all new users came from Tier 3+ regions like Malkangiri - Orissa, Baikunthpur - Chhattisgarh, Munnar - Kerala, Mankachar - Assam, Khalari - Jharkhand, Lalganj - Uttar Pradesh and Mahua - Bihar.

While sellers ensure customers have affordable access to their most-loved products, Meesho helped them scale their online business by announcing an industry-first 0 per cent commission model in July 2021. As a result, sellers saved over Rs 2 billion in just 5 months. Meesho saw its seller base grow to 4 lakh in 2021, with the highest participation coming from Gujarat, Delhi, Rajasthan, Uttar Pradesh and Maharashtra.