E-commerce major Meesho, which began its flagship annual festive sale on Friday, saw day one orders doubling compared to last year and clocked more than 3 times its daily order volume, the company said.
Nearly 65 million customers visited the platform on the first day of the sale across categories like fashion, beauty and personal care, home and kitchen, and electronic accessories. On an average, Meesho sold 506 kurtis, 376 sarees, and 360 kids’ wear items every minute, it said.
Meesho Mall, which is the platform’s branded products segment launched in September last year, saw nearly 2.5x growth in orders compared to last year with about 45% of these orders coming from first-time customers. Nearly 75% of these shoppers are from tier II cities. In the run up to the sale, Meesho expanded its D2C partnership with brands such as Mamaearth, Denver, Himalaya, Bajaj, Joy, Lotus Herbals and more.
Among the brands, Meesho said Mamaearth recorded a fivefold increase in orders, Denver saw an eightfold growth, orders for Swiss Beauty products expanded by 7.5 times, Bella Vita orders grew 17.5 times and Mars recorded a fourfold increase in orders. Prior to the sale, Meesho saw 15 million downloads of its app. The platform currently has more than 2 million sellers and about 120 million product listings across 30 categories. Besides Meesho, e-commerce giants Amazon, Flipkart and Myntra also began their annual festive sales on Friday.
Flipkart said it recorded 330 million user visits on its platform during the early access day and the first day of its sale, with high demand in categories such as mobiles, food and nutrition and grooming accessories. Besides the metro cities, strong demand is seen from regions such as Medinipur, Hisar, Berhampore, Bankura and Agartala.
Shopsy, Flipkart’s hypervalue platform, saw a 70% increase in customer visits and a 2.8x increase in transactions compared to the pre-festive season. Categories like lifestyle, apparel, home and kitchen grew by 2x and beauty and personal care saw 3x growth. Flipkart’s travel-tech arm Cleartrip registered a 2.5x increase in overall users on the platform compared to the pre-festive season. Air and Hotel bookings registered a 3x and 4x increase with popular destinations being Goa, Amritsar, Nainital, Varanasi and Mussoorie.
The company’s latest quick commerce venture, Flipkart Minutes, saw high demand for electronics. In Mumbai, 25% of all electronics sales in hyperlocal pin codes are from Flipkart Minutes deliveries, the company said. “In Delhi, this goes up to almost 40% in pin codes currently covered by Flipkart Minutes,” it added.
Flipkart also said its co-branded credit card with Axis Bank recorded a spike of 20x in overall spends and 8x transactions when compared to the non-sale days. Flipkart Pay Later EMI witnessed a 8.5X spike in the daily transactions run rate compared to the pre-sale period, while third party EMI usage grew by 27x in spends and 18x in transactions compared to the daily runrate.
From: financialexpress
Financial News
