Overall in the eCommerce space fashion & lifestyle is the largest contributor to overall eCommerce sales volume. As per Vumonic Datalabs estimates fashion & lifestyle contributes more than 20% of overall volume. And within this categoryWomen’s fashion has a slightly higher share than men’s fashion. i.e order volume for Women’s Fashion items stands at 55% vs. 45% for Men’s Fashion.]
Now, let's address the elephant in the room. How is it that a 5-year-old Startup – Meesho has gained such a massive advantage over the established marketplaces (Amazon & Flipkart) and Fashion focused marketplaces - Ajio and Myntra.
We analyzed nearly 200K fashion & lifestyle items sold on these platforms from the period of Jan to June 2022 and it is clear that the new kid on the block – Meesho has garnered over one-third of the order share in Women’s fashion. This is interesting as all the platforms are seeking business from young urban females however Meesho is doing a much better job at it. The main reason for this huge lead for Meesho is that they play in the unbranded value segment. And they have caught the attention of Females in Tier 2 & 3 cities in India as their original value proposition was to help women become entrepreneurs by selling products in their circles. This starting point naturally augments Meesho’s next wave of growth which we are seeing now as they have a large loyal base and additionally they are spending heavily on TV to acquire new users and selling largely unbranded items in the value pricing segment. Meesho is a great case study for excellent execution of product-market fit.
Consumer behavior data is crucial to know and should get baked into the strategy for efficient execution. This can be done effectively by using Vumonic’s behavioral data for eCommerce for many different categories.
In our next piece, we will explore the Women's Fashion Category for key Platforms.
Vumonic Datalabs is a global consumer intelligence platform. We provide high-quality, deterministically linked, large structured data that can be used to derive deep consumer, business, and market insights. Our proprietary data pipelines deliver unbiased actual transaction data collected in a private and secure manner via large global panels.