Flipkart dominates with 48% market share, Meesho emerges as fastest growing e-commerce platform: Report
Flipkart was the market leader, with a 48% share in India eCommerce, growing faster than the industry." It identifies mobile and apparel as Flipkart's largest categories, constituting approximately 50% and 30% of its mix, respectively. Flipkart is estimated to hold 48% and 60% market share in the online smartphone and online fashion markets, respectively," the report stated.
Meesho's market share growth is primarily attributed to its strategic focus on Tier 2 and smaller cities, operating through a zero-commission model. In the last 12 months, Meesho's order volume grew by 43% YoY, with a notable 54% revenue growth and around 80% repeat customers.
Meesho, with approximately 120 million average monthly active users, is identified as the fastest-growing e-commerce platform in India. The report indicated that around 80% of Meesho's sellers are retail business owners, and about 95% of the platform's selection is unbranded.
AllianceBernstein's analysis revealed Meesho's current gross merchandise value (GMV) run rate exceeding USD 5 billion, with apparel contributing to approximately 50% of GMV, while beauty and personal care (BPC) and home and kitchen each contribute in the range of 8-10%. The research firm's report anticipates Meesho to gain incremental market share, with over 48% downloads in the Indian e-commerce landscape.
However, a Nielsen Media study commissioned by Amazon India in September 2023 identified Amazon India as the most preferred online brand for respondents across the country, according to PTI's news report. In the fashion e-commerce segment, Reliance-owned Ajio holds around 30% market share based on Monthly Active Users (MAUs), while Flipkart Group's Myntra maintains the highest market share in terms of
. Read more on livemint.com
