60% of Meesho shoppers are planning to boost their online budgets for festive purchases, a report by Meesho revealed. While 24% mix planned and last minute shopping, 16% admitted that they shop solely at the last minute. Furthermore, 50% of respondents revealed that they are using influencer affiliate links for trending products with as much as 70% following influencers for product reviews. Additionally, the report stated that social media impacts festive shopping decisions with 40% of shoppers influenced by the fear of missing out on popular items. From what is understood, 54% of online shoppers on Meesho cite the importance of positive reviews while 43% prioritise high quality content and detailed product information. According to the company, the survey was conducted with more than 10 lakh customers and up to 2.5 lakh sellers.
“As we approach the festive season, Meesho’s ‘E-commerce Festive Forecast 2024’ reveals a vibrant landscape of shifting consumer and seller dynamics. While a majority of our consumers are looking to increase their online spending, it’s fascinating how social media is reshaping shopping—half of our users now turn to influencers for product recommendations, highlighting their significant role in driving purchase decisions. For our sellers, who are increasingly new to e-commerce, innovation is crucial. At Meesho, we are excited to support this growth and enhance the festive shopping experience for millions of users across India.”Megha Agarwal, general manager, business, Meesho, said.
Furthermore, from the key insights on seller preparedness, it was found that 75% of respondents are first time entrepreneurs who have transitioned from government or corporate roles to e-commerce. An additional 44% of sellers rely on Meesho’s recommendations to select their festive products. 65% are focusing on product innovation by launching new products, adding categories, and investing in seller ads to enhance competitiveness, the report stated. To add to it, the survey also shows that 70% of sellers use basic technology tools while 25% employ advanced solutions such as ERP systems and AI analytics, reflecting the growing technological adoption among Indian SMEs.