Meesho’s festive season forecast: Over 60% its consumers to boost e-commerce budgets

Ahead of the festive season, e-commerce company Meesho revealed that more than 60 percent of their consumers are looking to increase their shopping budget this year. The company found about the trend from a study titled ‘E-commerce Festive Forecast 2024’, which was conducted with 10 lakh customers and 2.5 lakh sellers.

As per the report, 60 percent of the responding buyers have planned their shopping beforehand, 24 percent of shoppers combine planned purchases with occasional last-minute buys and 16 percent are identified as purely last-minute shoppers.

As per the study, social media is playing a crucial role in promoting these sales. Half of the respondents rely on influencer-affiliate links while shopping for trending products underscoring the significant role influencers play in shaping consumer purchasing decisions.

Nearly 70 percent of its users follow social media influencers for product reviews and hauls, demonstrating the growing impact of influencer content on consumer choices.

Of the sellers, 75 percent have adopted online platform for the first time, many of them have transitioned from government or corporate roles. Around 65 percent of the sellers have plans to launch new products for the festive season, while others are adding new categories and investing in ads.

About 70 percent of the sellers said they have been using basic tools to understand consumer preferences and shopping habits while 25 percent use advanced solutions such as ERP systems and AI analytics.

Commenting on the findings, Megha Agarwal, General Manager, Business at Meesho, said, “For our sellers, who are increasingly new to e-commerce, innovation is crucial. Sellers are venturing into new categories and launching innovative products, reflecting their strategic push to meet evolving consumer demands. At Meesho, we are excited to support this growth and enhance the festive shopping experience for millions of users across India.”