Social commerce platform, Meesho, said on Thursday that it has recorded 750% growth in users over last year during its flagship festive sale event - Maha Indian Shopping League.
Nearly 60% of the total demand was driven by Tier 4+ markets, including remote locations like Khawzhwal in Mizoram and Sopore in J&K.
Meesho’s Maha Indian Shopping League was held from October 5 to October 10, coinciding with Amazon’s Great Indian Festival and Flipkart’s flagship Big Billion Days sale that opened during the period.
Meesho is a recent entrant to the e-commerce club.
“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 focus on providing quality products at the lowest price for customers coupled with ease of doing business for sellers is adding momentum to our mission of democratizing internet commerce in India,” Vidit Aatrey, founder and CEO, Meesho, said.
“Our flagship festive sale event saw over 80% orders coming from Tier 2+ markets, a true reflection of our efforts to cut deep into India’s underserved regions,” he added.
The company said that through its 0% commission model launched early this year, sellers on Meesho saved over Rs 13.6 crore during the festive sale event alone.
Recording over 10X growth in sales over last year, it also saw seller participation rise by 314%; while women’s apparel and accessories grew by 623%, the men’s apparel segment witnessed 640% more than previous year.
In September, Meesho raised $570 million in a new round of funding led by US asset manager Fidelity Management & Research Company and B Capital Group after which its valuation has more than doubled to $4.9 billion in less than six months.