Meesho is among India’s fastest-growing internet commerce companies. It wants to make e-commerce accessible to all. Its vision is to enable 100 million small businesses in India, including individual entrepreneurs, to succeed online.
Meesho – How does it Work?
Our logistics partner picks up the product from your location and delivers it straight to the customer. Meesho charges a 0% commission rate from suppliers across all product categories. With no seller commission, Meesho is the most profitable platform for you to sell products online.
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Meesho Logo
The company’s new logo depicts “Aam” as hospitable and welcoming while reflecting “Jamuni”‘s relationship with desire. The company’s position as a comprehensive platform serving the daily needs of Indian shoppers will be reinforced by this rebranding initiative, which will also increase its attractiveness and resonance with consumers.
Meesho is owned by “Fashnear Technologies Private Limited.
Meesho – Mission and Vision
Meesho’s mission is to “Democratise Internet Commerce for Everyone.
The company’s vision is to “enable 100 million small businesses in India, including individual entrepreneurs, to succeed online.
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Meesho – Products and Services
This was done with an aim to focus on the customer demands of everyday needs in Tier 2 markets and beyond that. The company boasts of the fact that it has successfully managed to expand its grocery service to 6 states within 9 months.
Meesho Superstore Logo
This rebranding and integration of the grocery app Farmiso to the main Meesho app is quite significant and is in line with the quest for super apps, which are to dominate the Indian and global digital ecosystem soon. Furthermore, with only 0.5% of the grocery sales happening digitally,
Meesho offers logistics services to the suppliers and charges a fee for the same. The team is working on reducing the logistics charges to increase the profitability of the sellers.
Meesho – Challenges Faced
Meesho faced a number of difficulties in the early going that are common for a young company in the online retail space. Online retail is becoming more and more popular, but there are still a lot of challenges to overcome, like limited transaction possibilities, shipping limitations, and shortages of supplies. The CEO underlined Meesho’s decision to forgo keeping inventory in their own warehouses in order to promote small businesses from the beginning.
But these difficulties were made worse by the COVID-19 pandemic, especially in terms of supply chain interruptions. Meesho and other companies in the industry continued to face difficulties even after the government took action to loosen mobility constraints.
Pandemic-caused Challenges:
COVID-19 had a significant negative impact on Meesho’s business, which prompted the company to concentrate on building logistical networks in the face of inconsistent state laws. Closings in the fashion sector led to a shift in focus toward selling necessities like groceries and masks to sustain resellers. In order to support resellers and build trust in the face of uncertainty, a microcredit strategy was implemented.
Meesho Layoffs:
In an effort to streamline operations, Meesho let go of 150 workers in April 2022 and 251 in May 2023.
Significant Counterfeit Issues:
Meesho had to deal with counterfeit goods, which led to legal lawsuits and quality assurances to protect its brand and customers’ faith.
Meesho Smear Campaigns:
Influencers who disseminated false information about Meesho may face legal action for doing so. Legal letters were delivered to them.
Meesho’s growth highlights are:
It has over 50 lakh products as of February 2024
It has 650+ product categories as of February 2024
The company has 11 lakh+ sellers as of February 2024
Meesho has 14 crore+ customers as of February 2024
It has served 19,000+ people as of February 2024
Financials
FINANCIALS FY22 FY23
Operating Revenue Rs 3,240 crore Rs 5,735 crore
Profit/Loss Loss of Rs 3,248 Crore Loss of Rs 1,675 crore
Vision and AI Labs of IISC
The Indian Institute of Science’s (IISc) Vision & AI Lab (VAL) have signed a one-year Memorandum of Understanding (MoU). This collaboration seeks to help Meesho advance research in key areas like multimodal large language models (LLMs) and generative artificial intelligence (AI).
Plum
Plum, a platform for employee health insurance, has partnered strategically in an effort to raise the bar for employee benefits and care.
We Hub
We Hub has formed a Memorandum of Understanding (MoU) with Meesho to support female entrepreneurs in reaching financial independence by providing them with increased market exposure and prospects.
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