Meesho Eyes Threefold Growth in Festive Season Orders, Will Use Meesho Mall to Attract Consumers

The company launched in-app brand store Meesho Mall last year to enable brands to sell directly to consumers.

By Press Trust of India | Updated: 21 September 2023 17:15 IST

Meesho Eyes Threefold Growth in Festive Season Orders, Will Use Meesho Mall to Attract Consumers

Photo Credit: Meesho

Since its launch last year, Meesho Mall has been growing by about 30 percent

Highlights

Meesho Mall aims to double down on accessibility
The company had recorded a 68 percent jump in sales
Meesho Mall has partnered with over 400 national and regional brands

SoftBank-backed Meesho aims for three-fold growth in orders in the upcoming festive season as it will leverage Meesho Mall for the first time to attract consumers to buy directly from brands and authorised channel partners. The company launched an in-app brand store Meesho Mall last year to enable brands to sell directly to consumers.

Since its launch last year, Meesho Mall has been growing by about 30 percent month-on-month and has processed approximately 1 crore orders in the past six months, Meesho Chief Financial Officer Dhiresh Bansal said.

"We believe that Malls will be a significant lever for monetisation in the future. We are also expecting 3x order growth during the festive season. Staying true to its vision, Meesho Mall aims to double down on accessibility, affordability, selection, and experience for its diverse stakeholders," Bansal said in a statement.

Ola Electric Eyes $700 Million IPO Filing by End of October: Details

The company had recorded a 68 percent jump in sales on a year-on-year basis during its five-day festive season sale last year with around 3.34 crore orders.

Currently, Meesho Mall has partnered with over 400 national and regional brands, including renowned names such as Bajaj, Biotique, boAt, Decathlon, Bewakoof, Himalaya, Mamaearth, Milton, Paragon, Philips, Plum, Sirona and WOW Skin Science, among others.

The company said that the mall is witnessing over 25 lakh unique transacting users every month.

Softbank-Owned Chip Firm Arm Valued at $54.5 Billion in Year's Biggest IPO

"Meesho Mall will be an enabler for several emerging and established brands looking to tap a larger audience across the country," the statement said.

According to market research firm Redseer Strategy Consultants, Meesho was the second largest contributor in terms of order volume during last year's festive season sales.

SoftBank-Backed Chip Firm Arm Plans to Meet Investors Ahead of IPO

A recent report by the firm projects online sales during the upcoming festive season to grow by 18-20 percent and touch Rs. 90,000 crore this year.

Is the Samsung Galaxy Z Flip 5 the best foldable phone you can buy in India right now? We discuss the company's new clamshell-style foldable handset on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.