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People are depending on online purchasing platforms more than ever and many entrepreneurs are using this opportunity to develop their online empires. Today, one can easily launch their very own online business while sitting comfortably at their home, without investing a lot of money. Online shopping has developed significantly over the previous decade, and e-commerce companies now generate billions of dollars in monthly sales worldwide. Amidst this bustling landscape, Meesho has emerged as a standout platform, captivating the interests of Indian e-commerce sellers with its unique approach and offerings. Meesho is India’s third largest e-commerce retailer with a gross merchandise value of $4.5 billion.
Processing 3.5 million orders daily, Meesho crossed the milestone of 1.1 million sellers on its platform with more than 600,000 small businesses signing up last year. Meesho becomes India’s fastest e-commerce company to achieve this feat within just eight years of its inception. Over 80% of these 1.1 million sellers are e-commerce newcomers, with Meesho serving as their initial gateway into the world of online selling. Nearly 50% of these sellers come from Tier 2+ regions and farthest corners of the country embodying the company’s mission to democratize internet commerce for everyone and everywhere.
In this blog post, we delve into the phenomenon that is Meesho, uncovering the reasons behind its popularity in India.
Meesho: Revolutionizing Indian e-commerce, one entrepreneur at a time
Founded in 2015 by IIT Delhi graduates Vidit Aatrey and Sanjeev Barnwal, Meesho embarked on a journey to revolutionize the way individuals buy and sell products in India. The platform is experiencing rapid growth in a highly competitive market, potentially reaching break-even ahead of larger rivals like Flipkart and Amazon in India.
Meesho – How does it Work?
Meesho: Revolutionizing Indian e-commerce, empowering millions to sell online
Indian economy faces a fundamental problem: the lack of opportunities for entrepreneurship, particularly in rural areas. Traditional employment avenues are often limited, and starting a business from scratch can be daunting, especially for those with limited resources and access to capital.
Meesho’s social commerce strategy revolves around empowering individuals to become micro-entrepreneurs. By providing a user-friendly interface, access to a wide range of products, logistical support, and marketing tools, Meesho simplifies the process of starting and scaling a business. The platform has facilitated the emergence of thousands of successful entrepreneurs, many of whom are women from rural areas.
Meesho believed in a ‘user first’ mindset and understood that most of their users belong to tier 2 cities, with many of them using the internet for the first time. The platform also recognizes the limited experiences these users have with communicating in English or using keywords. Therefore, Meesho was among the first that adopted a discovery-led product interface, keeping in mind the needs and preferences of the user base.
Meesho has witnessed an 80% increase in seller registrations from tier 2 regions. Over 15 lakh sellers are registered on the platform with more than 40% from tier 2 cities and nearly 25% from tier 4. Meesho has undertaken multiple initiatives to boost access and affordability for the country’s heterogeneous customer base, such as:
| Manish Khandelwal, a Meesho seller who owns an apparel brand, Sevanti, adds, “When my nephew Ankit and I first started selling online on Meesho in 2019, we had no idea about the e-commerce industry. In Meesho, we found a platform that could take our products to all corners of the country, thereby helping us scale the business at a phenomenal pace. In our first year, we recorded a turnover of INR 50 lakh, and since then our business has grown almost 100x in the last 4 years. This growth has not only turned our fortunes but also immensely helped the people associated with us.” |
Meesho’s success story offers valuable insights for aspiring entrepreneurs and established businesses alike. Any ambitious entrepreneur can take a cue from the marketing methodology and business model of Meesho.
The key points to learn from Meesho’s success are:
Innovate, empower, personalize: Meesho’s roadmap to success unveiled
Meesho’s inception stemmed from a simple yet powerful idea of empowering individuals to become micro-entrepreneurs, leveraging social networks and technology. This innovative approach has democratized e-commerce and has fostered economic empowerment at the grassroots level, particularly in semi-urban and rural areas. By enabling millions to supplement their incomes and pursue entrepreneurial aspirations, the platform has become a symbol of hope and aspiration for a new generation of Indians.
Meesho’s journey underscores the transformative potential of technology when wielded with empathy and purpose. With 1.1 million sellers and ~100 million active product listings across 30 categories, Meesho is revolutionizing the way customers discover an extensive range of products, all offered at the most competitive prices nationwide.
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