The fast trade sector in India is witnessing a boom, the market increasing nearly 60x in the past five years. The push even prompted traditional electronic commerce giants to rotate to faster delivery models.
In November 2024, Myntra announced its foray into the 30-minute delivery space with “M-Now”, highlighting the growing competition in the segment. The Amazon Prime Service had already shortened the delivery times with options the same day and a day, and now others follow suit.
With a fast trade that is gaining ground, questions arise to find out if more electronic commerce players will enter this space. Vidit Aatrey, co-founder and CEO of Meesho, shared his point of view during the Invest Karnataka event in Bengaluru,, suggesting that if fast trade has reached an adjustment of the product market, its call remains limited to certain categories and a specific consumer base.
“There are people who buy things in this segment, but it is limited to certain categories, mainly motivated by the need for speed,” said Aatrey. “Consumers who prioritize convenience are ready to pay a bonus, platform fees or convenience costs. However, the majority of India is not willing to do so – and it is the real gap that we work to fill. »»
Unlike fast trade players, Meesho has a different vision. “Our goal has never been to resolve more convenience, because there have always been players who met this need, both in the past and today,” said Aatrey. “Many people in level 1 cities were shopping on Amazon, mainly because of its speed, one day delivery, delivery the same day. Instead, our goal has always been to put most of the country online – consumers and small businesses. »»
For Meesho, the main engines are affordability and accessibility, rather than ultra-fast deliveries.
Meanwhile, the company recently collected funding from Tiger Global Management, Think Investments and Mars Growth CapitaLWith the participation of Peak XV Partners and Westbridge Capital, according to Tracxn. While Meesho is preparing for an IPO, he also moved the NCLT to turn around in India, with plans to file his DRHP in the second half of this year.
