The aspirational goal marks a remarkable 10-fold expansion of Meesho’s current seller base of 1.3 million
Bengaluru: E-commerce marketplace Meesho has announced its goal to onboard 10 million small businesses by 2027 and help them succeed online at an event held in Delhi on 22 August, where Meesho came together with various industry stakeholders like ONDC and CAIT to honour and celebrate MSME sellers across various categories.
The aspirational goal marks a remarkable 10-fold expansion of Meesho’s current seller base of 1.3 million, simultaneously unlocking new opportunities for small, medium, and local enterprises with an annual turnover below 40 lakhs, to embrace the realm of digital commerce, the company said in a release on Wednesday.
This initiative also aligns with the decision taken by the Government of India to relax the mandatory GST requirement for online sales for businesses with an annual turnover of less than Rs 40 lakh.
According to a recent report by RedSeer, India boasts an estimated 85 million MSMEs, yet only a mere 1.5 million currently operate within the online sphere.
This glaring disparity underscores the immense untapped potential within this sector – a potential that can empower even the smallest sellers from every corner of the nation to partake in the e-commerce revolution and uplift their businesses.
With a substantial portion of new seller registrations faltering during the GST registration phase, Meesho intends to take advantage of the anticipated easing of GST regulations and unlock opportunities for micro and small enterprises to embark on their inaugural online journey, the release added.
“Guided by an unwavering dedication to technological advancement, innovation, and inclusivity, we are poised to unlock secondary income avenues for offline sellers. Our vision extends beyond mere figures; it envisions a nurturing environment that catalyzes the expansion of over 80% of the existing MSMEs,” Vidit Aatrey, CEO and Founder at Meesho said.
Meesho’s recently became the first horizontal e-commerce company in India to achieve profitability. In June 2023, the company announced its goal to become profitable by 2024. Read more about it here.
However, the company achieved profitability at a consolidated PAT level, incorporating all costs, including ESOP, across all divisions and categories, months ahead of schedule, the release said.
Operating on a 0% commission model, Meesho presents an appealing opportunity for its sellers, predominantly comprising small businesses and individual entrepreneurs.
In 2023, Meesho, garnered accolades such as being recognized as the world’s fastest shopping app to reach 500 million downloads, becoming India’s fastest e-commerce platform to amass a 1 million seller base, and earning a coveted spot on TIME’s list of 100 most influential companies in 2023, the release said.
Meesho provides small businesses, which includes SMBs, MSMEs and individual entrepreneurs, access to millions of customers, selection from over 30 categories, pan-India logistics, payment services and customer support capabilities to efficiently run their businesses on the Meesho ecosystem.
