In recent times entrepreneurs have relied on ecommerce to grow their businesses. And with the Coronavirus pandemic forcing consumers to stay at their homes and accomplish all purchases online, more people have jumped on the ecommerce train. One company that has been helping sellers earn a significant profit is Indian ecommerce startup Meesho. Today, the startup is valued at $2.1 billion after recently raising $300 million.
Meesho is a technology company based in Bangalore, India. It developed a platform where online resellers get can get access to thousands of items that they can sell to customers via various social media apps.
Meesho A Front Runner Of eCommerce
Meesho is one of the companies that will have a big say on how ecommerce will perform in the next few years. Founded in 2015 by engineering graduates, Meesho has grown to become India’s largest reselling platform. What the company essentially does is connect suppliers to resellers and then connect resellers to buyers through a single app.
How Does Meesho Work?
- Suppliers place their products on the Meesho shopping app.
- Sellers can pick from any of their items and sell them to consumers via various social media platforms such as Facebook, WhatsApp, and Instagram.
- Suppliers placing their items on Meesho usually include manufacturers of clothes, clothing accessories, furniture, kitchen tools, and cosmetics.
- Individual resellers can then pick any products from these suppliers and sell them to consumers on the said social media platforms.
- Selling can be as easy as sharing a photo of the item on Instagram or creating a post on Facebook.
- Once the buyer and reseller agree on the purchase, the said Meesho products are then prepared and delivered to the buyer’s doorstep.
- For safe and convenient transactions, buyers are given the option to pay via debit/credit card or cash on delivery.
According to its website, more than 10 million resellers have found success with Meesho with the majority of resellers earning around $15,000 ($201) per month.
Empowering women entrepreneurs has also become the company’s main initiative, with Meesho app constantly expanding its catalog to include more Indian ethnic clothing and accessories.
Suppliers and resellers aren’t the only ones who earn money but the company as well. As expected, 2020 became a big year for Meesho as it generated $42 million and raised $300 million. The company earns by striking deals with suppliers as well as getting percentages from every item being sold.
Also Read – Social Commerce vs Ecommerce
Revenue Model Of The Meesho App
This is one of the most effective revenue models. Here the reseller app ties up with various wholesalers to display their products through the platform. A fixed percentage of the seller’s revenue goes to the app for each successful order as a commission. Thus it ensures steady money generation to the app.
You can utilize the help of private logistic firms for delivery solutions and implement delivery charges for the buyers. The customers can pay the delivery fee along with the cart value while placing the orders.
There are a number of wholesalers exhibiting their products through your platform. In order to display the names on the top, the shop owners have to subscribe to the featured listings. They can subscribe on a monthly or yearly basis. Thus the name of the sellers is displayed on the top of the search results. The top names likely catch the eye of the customers easily.
The Meesho clone app has a banner space where you can display the advertisements of third-party products. There are different types of adverts out of which you can choose several types and implement them in your app. Each time the user clicks on the app, money goes to the app owner. This method serves to generate money effortlessly.
Meesho App Features
- WhatsApp Business Catalog
- Share catalogue to any social app easily
- Earn through referrals
- Earn bonuses by extra sales
- Earn commission on every sale
- Filter option
- COD and online payment availability
You can earn by starting your reselling business with Meesho and top of that Meesho has its unique bonus plan in which you can earn a bonus every week based on your weekly sales.
The “Refer and Earn” scheme of Meesho is just amazing where you can get a commission on every sale of your referral for 2 years. Not only this, but the VIP plan of Meesho is also amazing where you can get extra discounts on every product and don’t worry you do not have to buy it or pay anything to get a VIP membership you just have to complete orders.
There are many more unique benefits in the Meesho app for almost everyone like free shipping catalogues discounts going for the whole 365 days a year, Meesho credits, Spin wheel and much more.