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Consumer Staples
The world of e-commerce and food delivery is witnessing some significant shifts, with companies like Meesho and Zomato reporting contrasting performances. In this edition of ETtech Top 5, we delve into the remarkable order spike experienced by Meesho during its recent festive sale and explore why Zomato is facing a slowdown.
Meesho, a leading Indian e-commerce platform, has seen an impressive 40% year-on-year increase in orders during its festive season sale for 2024[1][2]. This success is attributed to its strategic focus on underserved areas, particularly in Tier-IV cities where 45% of its sales originated[1][2]. The platform also reported over 30 million app downloads, highlighting its growing popularity across the country[1].
Meesho's success during the festive season underscores its ability to democratize e-commerce by making it accessible to a wide audience, particularly in smaller towns and cities[2].
In contrast, Zomato, a prominent food delivery company in India, has faced a slowdown. Recently, its stock tumbled after a brokerage firm downgraded its rating from 'buy' to 'neutral' due to rising losses in quick commerce and a slowdown in food delivery[3]. This downgrade also affected its competitor Swiggy, highlighting broader challenges in the sector.
Zomato's struggles reflect systemic issues impacting the food delivery industry, emphasizing the need for strategic adjustments to regain momentum.
Beyond its festive season success, Meesho has continued to demonstrate strong growth throughout the year. In the nine months ending December 2024, it reported a 34% year-on-year increase in orders, totaling 1.3 billion[3]. This ongoing momentum is backed by a solid financial performance, including a significant reduction in adjusted losses and a notable increase in unique transacting users[3].
Meesho's strategic approach to e-commerce, coupled with its focus on underserved regions, has positioned it strongly against competitors like Amazon and Flipkart.
In a bid to further accelerate growth, Meesho has launched a creator marketplace aimed at increasing influencer-driven sales. This initiative includes tools like the Meesho Creator Club and Video Finds, designed to enhance user engagement by integrating content and commerce seamlessly[5].
By engaging with more than 21,000 creators, Meesho is set to expand its content variety and reach, leveraging the growing creator economy in India[5].
As the e-commerce and food delivery sectors continue to evolve, companies like Meesho and Zomato are emblematic of broader trends in consumer behavior and market strategy. Meesho's success in democratizing e-commerce, particularly in smaller towns, provides a model for inclusive growth in the digital economy. Meanwhile, Zomato's challenges highlight the need for adaptable business models to navigate the complexities of the consumer services market.
