E-commerce applications are the most advanced solutions that allow customers to stay connected with the top retailers and wholesalers. During traditional times, reselling was only offline and was confined to limited people only!
All thanks to Meesho, one of the prominent names in the reselling ecosystem that offers the most convenient, affordable, and reliable services for the users. The mobile application gained immense popularity in 2020!
It allowed individuals to begin their business fresh without worrying about the inventory or investments. But what business model does the app follow? How do they earn profits?
Clearing all the user queries, here is a blog that reveals the business and revenue model to develop an app like Meesho!
What does Meesho Reselling mean?
With the Meesho application, resellers can recommend the best products to their customers in the digitized catalog. A buyer shows an interest in the product and adds it to their cart. The reseller would enter the buyer’s details and address, a margin, and other details. The product gets shipped from the seller’s place itself.
The seamless connection between the buyer and the seamless makes Meesho one of the most successful platforms, and even offers an opportunity for the housewives, offering them an opportunity to earn extra.
Meesho offers all the required opportunities and tools that guide the sellers to launch their own business without any hassle and investment.
Market Growth of the Meesho Application
Here are the quick statistics that reveal the facts and figures as of 2022 while depicting the market growth.
- Meesho is ranked 979 globally and has a country rank of 62.
- The age group between 25-34 years is the largest group of visitors on the platform.
- Meesho has raised $1.1 billion until now and welcomed around 37.9 million visitors last month.
- Meesho diversified its business model to target 100 million small businesses and the right pitch to offer a competitive edge to Amazon and Flipkart.
Meesho Monetization and Revenue Model
Earning money is the foremost priority for the businesses in the end, and here are the targetted revenue model for the businesses to help them earn money.
1. Earning via Commission
One of the prominent sources of earning for Meesho is charging a commission from the sellers to list their products. When the item is sold via the platform, you charge a commission to the seller. The criteria are similar to Amazon and other marketplaces. However, the commission may vary.
2. Want to feature their product
As lots of products are listed, and the number of sellers continues to rise, some are worried about their products not being getting noticed. In that scenario, Meesho charges an extra amount from the sellers who want to feature their products on the top and get noticed easily. It helps them to get noticed easily and boosts revenue as well.
3. Selling Data
Meesho ensures not to violate any of their policies that can harm any users. Therefore, it sells data taking the user privacy concerns in mind, making it another efficient source of income.
Business Model of Meesho Mobile Platform
Meesho’s business model is similar to other eCommerce platforms. Let us throw some light on the most crucial ones.
It allows the customers to buy the best quality products without the involvement of the middlemen. They can directly purchase the products from the retailers, manufacturers, and retailers and earn commission seamlessly. The model is also known as the Direct-to-consumer business model.
Also known as the business-to-business model, you can easily find customers buying the goods from the platform itself and selling it to other business persons, as it offers products at a lower cost.
Also known as business to customers, the companies directly sell the products to customers.
How can we help?
Meesho begins with a social commerce focus and now competes against the market players like Amazon and Flipkart. If you are looking forward to developing a similar mobile application, get in touch with us and keep growing!