Meesho, India’s only true e-commerce marketplace, is concluding 2024 with impressive
growth, further cementing its mission to democratize internet commerce for all. With a ~35% 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 prioritizing affordability in discretionary categories such as fashion, beauty, personal care, and home essentials.
As consumer behavior continues to evolve across diverse regions and demographics, the e-commerce landscape is expanding, fueled by shifting preferences and greater access to quality products at affordable prices. Despite challenging market conditions, Meesho sustained its growth trajectory, reaching approximately 175 million annual transacting users in 2024. Notably, ~50% of this user base comes from tier 4+ 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 ~210 million downloads.
This growth is also reflected in Meesho’s financial performance. In FY 2023-24, the company became the first horizontal e-commerce platform to generate operating cash flow of INR 232 crores for the full year. Revenue from operations in the same period rose by 33%, reaching INR 7,615 crores largely driven by the increase in annual transacting users and a higher order frequency from loyal repeat customers. The company’s ability to attract new users while maintaining high engagement from its existing shopper base has fueled its continued growth in India’s competitive e-commerce market.