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Jefferies: Meesho reached $4.5B GMV and 120M monthly users in CY22
Jefferies says Meesho outpaced India’s e-commerce market, reaching $4.5 billion GMV and 120 million CY22 MAUs. The value-focused marketplace held 7% GMV share, expanded non-apparel categories, and targeted profitability by FY24 through fulfilment and advertising revenue.
Reported figures
From the report. Source details below
| Over 1 billion orders processed in 2022, up | 2.2x YoY |
|---|---|
| 7% India e-commerce GMV share; Flipkart Group 38%, Amazon | 30% |
| Advertising contributed | 6% of revenue |
| India has 3.5 billion annual e-logistics shipments; Meesho holds a majority of | 1.8 billion third-party volumes |
Also in the report
- GMV grew 9x to $4.5 billion from CY20 to CY22
- 65% of products are 20-30% cheaper than on other platforms
- Average order value below Rs 350 versus above Rs 1,000 for traditional e-commerce
- 140 million transacting users
- Non-apparel categories were 50% of GMV in 4QCY22 versus 30% in 4QCY20
- Nearly 100 million MAUs added over two years
- $670 million CY22 revenue
Other figures
- 15% implied take rate
The source
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