Meta-backed Amazon and Walmart are losing to Meesho in the battle for Indian customers
The U.S. retail giants, who have invested billions of dollars in the largest untapped digital market in the world, are facing competition from an upstart e-commerce business that is luring more new customers to India than Amazon.com Inc. and Walmart Inc.'s Flipkart.
The U.S. retail giants, who have invested billions of dollars in the largest untapped digital market in the world, are facing competition from an upstart e-commerce business that is luring more new customers to India than Amazon.com Inc. and Walmart Inc.'s Flipkart.
Meesho, based in Bengaluru, is the market leader in the emerging social-commerce space. It enables users to sell goods by sharing product listings with friends via Facebook, Instagram, and the widely used WhatsApp messaging app from Meta Platforms Inc. Additionally, Meta has an unknown investment in Meesho.
Meesho was the most downloaded shopping app in the globe during the first half of this year, with users praising its usability, variety of products, and affordable prices. The app, which is only available in India, received 127 million downloads within the same time period, compared to 81 million for Amazon and 50 million for Flipkart.
According to Meesho, Amazon and Flipkart are "primarily for the top 1-5% of the population" in terms of money and focus on more expensive products like smartphones and televisions. Meesho aims to dominate the market for basic commodities like apparel and home items that are frequently offered in unorganized retail, which makes up as much as 85% of India's retail market. He stated that the business serves the hordes of customers who are accustomed to shopping in corner stores but are now using the internet. Meesho still has ways to go before it catches up to Amazon and Walmart, which have invested more than $22 billion in India collectively since 2014.
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