The short commerce sector in India is witnessing a growth, with the market rising practically 60X within the final 5 years. The surge has prompted even conventional e-commerce giants to pivot in the direction of sooner supply fashions.
In November 2024, Myntra introduced its foray into the 30-minute supply area with ‘M-Now,’ underscoring the growing competitors within the phase. Amazon’s Prime service had already shortened supply timelines with same-day and one-day choices, and now others are following swimsuit.
With fast commerce gaining traction, questions come up over whether or not extra e-commerce gamers will enter this area. Vidit Aatrey, Co-founder and CEO of Meesho, shared his perspective on the Make investments Karnataka occasion in Bengaluru, suggesting that whereas fast commerce has achieved a product-market match, its attraction stays restricted to sure classes and a selected client base.
“There are folks shopping for issues from this phase, however it’s restricted to sure classes, pushed primarily by the necessity for velocity,” Aatrey stated. “Shoppers who prioritise comfort are keen to pay a premium, a platform price, or a comfort price. Nonetheless, nearly all of India shouldn’t be keen to try this—and that’s the actual hole we’re working to bridge.”
Not like fast commerce gamers, Meesho has a unique imaginative and prescient. “Our purpose has by no means been simply to resolve for comfort, as there have all the time been gamers addressing that want, each prior to now and at the moment,” Aatrey stated. “Many individuals in Tier-1 cities have been purchasing on Amazon primarily due to its velocity—one-day supply, same-day supply. As an alternative, our focus has all the time been on bringing nearly all of the nation on-line—each shoppers and small companies.”
For Meesho, the important thing drivers are affordability and accessibility, relatively than ultra-fast deliveries.
In the meantime, the corporate lately raised funding from Tiger International Administration, Assume Investments, and Mars Progress Capital, with participation from Peak XV Companions and WestBridge Capital, in keeping with Tracxn. As Meesho gears up for an IPO, it has additionally moved the NCLT for reverse flipping to India, with plans to file its DRHP within the second half of this yr.
