According to ResearchAndMarkets.com – Mega trends in online social commerce are opportunistic with generational influence, growing internet, smartphone penetration, growth of direct selling, and evolving technology. A mix of these factors brings online and in-store immersive reality to social platforms.
According to Intrado and Strategic Market Research states that as of 2020, the global market value was USD 480 billion, with a proliferating CAGR of 30.8% is forecasted to rise up to USD 7.07 trillion by 2030.
Meesho is an online retail marketplace, similar to Amazon, and Glowroad. It works by aligning with Shyp, Boost Convert, Oberlo, Wynd, Shopingo, Yown It, Wishli, and Bootikk. Meesho is known for online shopping and reselling. It offers unmatchable discounts, best quality at the lowest prices to buy fashion, beauty, kitchen, home, latest fashion for women, men, and kids; jewellery, footwear, and sports equipment, with an option for free delivery on any amount of purchase.
Kurtis and kurta sets, sarees, western wear, jewellery, men’s fashion, kids, footwear, beauty and personal care, accessories, electronics, home decor and improvement, innerwear, Kitchen and appliances, suits and dress material, lehengas and blouses, home textiles, bags and luggage, healthcare.
Boys Sets, Girl Sets, Ethnic wear, Nightwear, Winter Wear, Top wear, Bottom Wear
Toys and Accessories – Soft Toys, Footwear, Stationary, Watches, Bags and Backpacks
Baby Care – Baby and bedding, Diapers, Newborn Care
Diaries and notebooks, accessories and tapes, files and desk organizers, art and craft supplies, pens and pencils, painting
Pet Toys, Pet Grooming, Collars and Leashes, Pet Food, Pet Clothing, Pet Health
Food – Dry fruits, biscuits and namkeen, baking supplies, oil and masala, jams and spreads, pickles
Drinks – Tea and Coffee, Milk Flavouring, Health Drinks
String Instruments, Musical Accessories, Wind Instruments, Piano and Keyboard, Dholaks and Drum Sets, All musical instruments
Meesho follows a D2C reseller app business model. Major expenses of Meeho include (1) Logistics, (2) Advertising and marketing, (3) reseller bonuses, rewards, and discounts, (4) communication expenses, (5) Travelling and conveyance, and (6) Employee benefits.
Meesho is an Indian startup with a unique targeting and marketing strategy. It has recently entered the unicorn club with an annual turnover of more than 8000 crores. They reached the $1 billion USD milestone in just 5 years.
Meesho has embraced the newest retail business models, online-only businesses that sell exclusively through social media channels like Facebook, WhatsApp, and Instagram.
All social media platforms today offer retail functionalities facilitating the electronic commerce (eCommerce) of goods and services.
Meesho ships the order directly to the buyer’s home, and allows the buyers to pay through cash cards, or cash on delivery. It has derived its name from the Hindi word – ‘Meri Shop’.
Meesho allows selling fashion and lifestyle products across the best suppliers in business via social media platforms. It can generate revenue in a variety of ways and profitably from them.
Resellers earn a margin, which is the additional price tagged along with the product MRP.
Meesho additionally makes money by seller commission. They earn 10-20% commission for every product sold by the sellers.
Meesho has more than 15000 providers and doubles a million retailers throughout India. It has raised over $215 million from rounds of funding, aimed at establishing social dealers. Meesho’s resellers shortlist the merchandise and share them with their community of consumers via social media platforms. Resellers are all allowed to promote the goods at a reasonable fee to the target consumers. They relocate the order with Meesho, after shortlisting the merchandise, and arranging the transport. Meesho helps with the deliveries in most cases, with their enormous logistic service providers, across the country, free of cost. Meesho offers free cash on delivery services for customers.
According to G2 – Meesho makes use of 32 technology products and services which includes HTML5, Google Analytics, and Google Fonts; According to BuiltWith – Meesho uses 104 technologies including Viewport Meta, SPF, and Mobile compatibility. Major technologies that fuel Meesho are:
Reselling App Meesho Business Model amasses B2B, along with B2C in a D2C model, highlighting the reselling opportunities. It became a big deal in 2020 when the pandemic struck a shocking growth of shopping apps. India, in particular, witnessed about a 250% increase in non-organic growth of shopping app installs during that year. Follow Application Development Company for similar information!
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