Social commerce platform Meesho has grown its share in the fashion category during the festive season sales, on the back of affordable and value offerings, according to estimates by RedSeer Consulting.
The fashion category contributed to almost 17% of overall gross merchandise value (GMV) during the first week of festive season sales. While horizontal platforms like Flipkart and Amazon India drove 70% share in fashion, 30% of the sales were driven by vertical apparel platforms like Myntra, AJIO, etc, RedSeer estimates show.
Of the 30%, Meesho grabbed almost 39% share taking the fight against apparel focused platforms.
“Of the remaining market (30%), Meesho has been able to garner a 39% share (of the remaining market) with their affordable offerings targeting a typical Indian household looking for good value products [...] Fashion has seen a resurgence on the back of a largely vaccinated population that’s looking for a wardrobe refresh for social gatherings and vacations,” added RedSeer.
Meesho ran its five day ‘Maha Indian Shopping League’ festive sale along with Amazon and Flipkart. For the social commerce platform, nearly 60% of the total demand was driven by Tier IV markets, including remote locations like Khawzhwal and Sopore.
“Fuelling our efforts to digitize Bharat, Maha Indian Shopping League served as an entry point for millions of users to shop online with Meesho. Our flagship festive sale event saw over 80% orders coming from Tier II and beyond markets, a true reflection of our efforts to cut deep into India’s underserved regions,” Vidit Aatrey, founder and chief executive officer, Meesho said.
According to Meesho, it witnessed 750% growth in users over last year during its flagship festive sale event.
The company also added that it recorded over ten-fold growth in sales over last year, and saw seller participation rise by more than three-fold during its flagship festive sale this year.
Ahead of the sale event, Meesho onboarded over 1 lakh sellers with a bevy of new initiatives including - free ad credits and zero return shipping charges on the first 30 orders.
It also added that orders for women’s apparel and accessories on the platform along with men’s apparel grew by almost six fold on the platform, compared to the previous year.