50% of the respondents use influencer links to shop for trending products, with 70% following influencers for product reviews and hauls
Bengaluru: E-commerce adoption in tier-2 and beyond cities is set to grow as more than 60% of mass consumers increase online shopping budgets this festive season, according to a survey by homegrown online marketplace Meesho.
The survey titled ‘E-commerce Festive Forecast 2024’ highlights a pattern towards planned shopping, with around 60% of respondents organising their festive purchases well in advance. Meanwhile, 24% of shoppers combine planned purchases with occasional last-minute buys, and 16% are identified as purely last-minute shoppers.
Half of the respondents (50%) rely on influencer affiliate links when shopping for trending products, while nearly 70% follow social media influencers for product reviews and hauls.
Social media influences festive shopping, with 40% of shoppers driven by the fear of missing out (FOMO) on popular products.
On Meesho, nearly 54% of shoppers are identifying positive reviews as the primary driver. Meanwhile, 43% of shoppers prioritise high-quality content and detailed product information.
“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,” said Megha Agarwal, general manager, business at Meesho.
The report points out that 75% of the seller respondents are first-time entrepreneurs who have started selling online, many of whom have transitioned from government or corporate roles.
Nearly 44% of sellers rely on Meesho’s recommendations to curate their festive product selections. 65% of sellers are preparing for the festive season by launching new products, while others are adding new categories and investing in seller ads.
Surveyed sellers reported varying levels of technology use with 70% using basic tools while 25% use advanced solutions such as enterprise resource planning (ERP) systems and artificial intelligence (AI) analytics.
“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,” added Agarwal.
Founded in 2015 by IIT Delhi graduates Barnwal and Vidit Aatrey, Softbank-backed Meesho has a vision to enable 100 million small businesses. The company provides small businesses, which includes SMBs, MSMEs, and individual entrepreneurs, access to millions of customers, a platform of 30 categories, pan-India logistics, payment services, and customer support capabilities to run their businesses on the Meesho ecosystem.
