Meesho Eye’s triple growth in festive season orders, will use Meesho Mall to attract consumers
SoftBank-supported Meesho aims to triple order growth in the coming festive season as it will leverage Meesho Mall for the first time to attract consumers to buy directly from brands and authorized channel partners. The company last year launched a brand store on the Meesho Mall app to enable brands to sell directly to consumers.
Since its launch last year, Meesho Mall has grown at about 30 percent month-on-month and has processed approximately 1 crore orders in the last six months, Meesho Chief Financial Officer Dhiresh Bansal said.
“We believe that malls will be a major lever for revenue generation in the future. We also expect 3x order growth during the festive season. Staying true to its vision, Meesho Mall aims to double the accessibility, affordability, selection and experience for its various stakeholders,” Bansal said in a statement.
The company had registered a 68 percent jump in sales on a year-on-year basis during its five-day Christmas season sale last year with around 3.34 crore orders.
Currently, Meesho Mall has partnered with over 400 national and regional brands, including household names such as Bajaj, Biotique, boAt, Decathlon, Bewakoof, Himalaya, Mamaearth, Milton, Paragon, Philips, Plum, Sirona and WOW Skin Science, among others.
The company said the mall is witnessing over 25 lakh unique transaction users every month.
“Meesho Mall will be an enabler for more emerging and established brands looking to tap into 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 sale.
A recent report from the company estimates that online sales in the coming festive season will grow by 18-20 percent and reach 90,000 billion. This year Rs.