Flipkart leads e-commerce market with 48% share, Meesho fastest growing platform: Bernstein

A latest report by AllianceBernstein said Walmart group company Flipkart continues to dominate the e-commerce segment with 48 percent market share, while SoftBank-backed Meesho is the fastest growing e-commerce platform in terms of user base in India. Has emerged as a platform. According to the report, Flipkart’s user base grew 21 per cent year-on-year (YoY), Meesho grew 32 per cent, while Amazon lagged at 13 per cent user growth mainly due to peer premium offerings.

“By FY2013, Flipkart was the market leader in India ecommerce with 48 percent share. Flipkart is growing faster than the industry… Mobile and apparel are the biggest categories for Flipkart with around 50 per cent and 30 per cent mix respectively. The report said that Flipkart is estimated to have 48 percent and 60 percent market share in the online smartphone and online fashion markets respectively. The report attributes Meesho’s market share growth primarily to its strategic focus on Tier 2 and smaller cities, its large-scale positioning, and operations through a zero-commission model.

“Over the last 12 months, Meesho’s order volumes have grown 43 per cent year-on-year, with revenue growth of 54 per cent driven by healthy take rates, with repeat customers at around 80 per cent,” it said. Said. The report said that around 80 per cent of sellers on Meesho are retail business owners and around 95 per cent of the selections on the platform are non-branded.

“With approximately 120 million average monthly active users (MAUs), Meesho is the fastest growing e-commerce platform in India,” the report said. According to AllianceBernstein analysis, the current GMV (gross merchandise value) run rate of the Meesho business is over US$5 billion, with apparel accounting for around 50 per cent of GMV, BPC (beauty and personal care) around 8-10 per cent and home & kitchen. Has a contribution of. In the range of about 8-10 percent.

“We expect Meesho to be a major beneficiary in Indian ecommerce with over 48 percent downloads and gain increasing market share,” the report said. A Nielsen Media study conducted by Amazon India in September found that Amazon India is the most preferred online brand for respondents across India.

In fashion e-commerce, Reliance-owned Ajio has been gaining users and currently holds about 30 per cent market share on an MAU basis, however, Flipkart group company Myntra has more than 50 per cent in terms of active users. Holds the highest market share. share. “In December 2023, Myntra displayed the highest growth rate among competitors at 25 percent. “A closer look at the business shows that users on the app are not transacting as much as previous trends, with Myntra’s GMV growing only 12 per cent in FY23 compared to 35 per cent in FY22,” The report said.

Among e-grocery companies, Blinkit is growing the fastest due to market maturity. The report said that Zepto, which started its operations in April 2021, lags behind Blinkit in terms of product offering and reach.

“As per our industry discussions, Quick Commerce is a 3-player structure in India, with Blinkit being the market leader with around 40 per cent share, Instamart at 37-39 per cent and Zepto at around 20 per cent share from a GMV perspective.” The report said.

,

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)