In the expansive realm of e-commerce, Meesho, a flourishing marketplace unicorn, made significant strides in 2023, facilitating a whopping 140 million transactions for its diverse clientele. Surprisingly, approximately 80% of these orders emanated from tier-2 markets, underscoring the growing traction in cities like Amravati, Aurangabad, Dehradun, Nellore, Solapur, and Warangal.
An exciting milestone for Meesho arrived in July as it achieved profitability, maintaining this status along with positive cash flow throughout the year. Data.ai's revelation positions the start-up as India's top shopping app, boasting an impressive 145 million app downloads in 2023. Equally astounding, each user spent an average of 449 minutes browsing through a diverse range of offerings on the platform.
The platform's impact on sellers is equally commendable. Nearly 10,000 sellers attained the coveted crorepati status, while 130,000 vendors achieved the status of lakhpatis in 2023. Intriguingly, 60% of these successful sellers hail from smaller towns like Avinashi, Bharuch, Fiazabad, and Silchar.
Impressively, over 75,000 sellers experienced double-digit growth, and more than 20,000 witnessed a tenfold surge in their businesses. Meesho's addition of 25,000 non-GST sellers within two months further enriched its catalog with over 100,000 unique product listings.
The shift in shopping trends has been discernible. Home improvement categories observed a substantial 60% year-on-year growth in regions from Bhagalpur to Shahdol, especially in the realm of festive decor.
Simultaneously, the daily sales of over 25,000 smartwatches signal a transition in consumer preferences from traditional to smart technology, notably led by cities like Chittoor and Satara. Fitness equipment, including dumbbells and yoga mats, saw a remarkable 55% surge in demand, predominantly from cities like Chandpur and Ratnagiri.
Meesho's strategic expansion into the branded products segment through Meesho Mall, unveiled in September, signifies a profound step in diversification and market accessibility. The initiative aims to cater to the specific needs of Indian consumers by offering a gamut of longtail and branded items, fostering the digitization of small businesses and regional brands.