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.
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.
"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.
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.
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