Meesho, the e-commerce platform backed by SoftBank, announced on Friday that it has seen a 35% year-over-year increase in orders. Additionally, its user base grew by 25%, reaching 175 million in 2024.
Company Discusses Reasons Behind this Growth
The company attributed this growth to a rise in consumer spending and the expanding use of e-commerce in Tier 2 and smaller towns. This surge contributed to an overall 70% annual growth in orders across categories such as Beauty and Personal Care (BPC) and Home and Kitchen.
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In a statement released by the company, it was said: “With about 35 per cent year-on-year increase in orders, the platform is a clear reflection of strong consumer sentiment and the rapidly expanding adoption of e-commerce across the country. This growth is driven by India’s value-seeking shoppers, who are prioritising affordability in discretionary categories such as fashion, beauty, personal care, and home essentials,” Meesho said in a statement.
Meesho Continues to Surge to New Heights
The statement continued: “Notably, around half of this user base comes from tier 4 and smaller towns like Naidupeta (Andhra Pradesh), Sherghati (Bihar), and Harapanahalli (Karnataka). The platform also retained its position as the most downloaded shopping application for the fourth consecutive year, surpassing around 210 million downloads.”
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Meesho reported that Gen Z now makes up one-third of its total user base, becoming the fastest-growing demographic in India’s e-commerce sector.
