Vidit Aatrey Meesho – ‘Majority of India gained’t pay for comfort’: Meesho co-founder Vidit Aatrey on fast commerce
The short commerce sector in India is witnessing a increase, with the market rising almost 60X within the final 5 years. The surge has prompted even conventional e-commerce giants to pivot in direction of sooner supply fashions.
In November 2024, Myntra introduced its foray into the 30-minute supply area with ‘M-Now,’ underscoring the rising competitors within the section. Amazon’s Prime service had already shortened supply timelines with same-day and one-day choices, and now others are following go well with.
With fast commerce gaining traction, questions come up over whether or not extra e-commerce gamers will enter this area. Vidit Aatrey, Co-founder and CEO of Meesho, shared his perspective on the Make investments Karnataka occasion in Bengaluru, suggesting that whereas fast commerce has achieved a product-market match, its enchantment stays restricted to sure classes and a particular client base.
“There are individuals shopping for issues from this section, however it’s restricted to sure classes, pushed primarily by the necessity for velocity,” Aatrey mentioned. “Shoppers who prioritise comfort are prepared to pay a premium, a platform payment, or a comfort payment. Nevertheless, the vast majority of India just isn’t prepared to try this—and that’s the actual hole we’re working to bridge.”
Not like fast commerce gamers, Meesho has a special imaginative and prescient. “Our aim has by no means been simply to unravel for comfort, as there have at all times been gamers addressing that want, each previously and at this time,” Aatrey mentioned. “Many individuals in Tier-1 cities had been procuring on Amazon primarily due to its velocity—one-day supply, same-day supply. As an alternative, our focus has at all times been on bringing the vast majority of the nation on-line—each customers and small companies.”
For Meesho, the important thing drivers are affordability and accessibility, somewhat than ultra-fast deliveries.
In the meantime, the corporate lately raised funding from Tiger World Administration, Assume Investments, and Mars Development Capital, with participation from Peak XV Companions and WestBridge Capital, in accordance with Tracxn. As Meesho gears up for an IPO, it has additionally moved the NCLT for reverse flipping to India, with plans to file its DRHP within the second half of this 12 months.
