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Softbank-backed Meesho records 80% increase in sales on day 1 of festive season sale

Meesho, an e-commerce firm backed by Softbank, reported on Saturday that the first day of its five-day holiday sale saw close to 87.6 lakh orders, an increase in sales of about 80%. Around 85% of orders were placed in Tier 2, 3 and 4 cities on the first day, the company reported in a statement.

“Meesho clocked a record around 87.6 lakh orders on the first day of its flagship festive sale event – the Meesho Mega Blockbuster Sale. This is the highest number of orders recorded by the company in a single day – up about 80 per cent from day one of previous year’s sale,” the statement said. 

The company has received orders from the country’s deep corners, such as Jamnagar, Alappuzha, Chhindwara, Davengere, Hassan, Gopalganj, Guwahati, Siwan, Thanjavur and Ambikapur.

“With a wide assortment of around 6.5 crore active product listings at lowest prices, the sale exemplifies Meesho’s mission towards democratising e-commerce for everyone,” it said.

Consumers purchased everything from sarees to analogue watches, jewellery sets, mobile cases and covers, bluetooth headphones, choppers and peelers in record volumes to fulfil their festive shopping aspirations, according to the company. Fashion, beauty & personal care, home & kitchen, and electronic accessories were the top-selling categories on day one.

“With around 85 per cent of orders and approximately 75 per cent of sellers coming from Tier 2 and beyond cities, we are humbled to have created a far-reaching impact in the deepest corners of the country.

“We will continue to fuel the discoverability of hyperlocal businesses and products, empower MSMEs and further boost accessibility and affordability for our heterogenous base of consumers,” Meesho CXO for Business Utkrishta Kumar said.

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BRL Editorhttps://businessreviewlive.com
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