Anshul Gupta

India's e-commerce market has far more room to grow, and our Q2 FY27 performance continues to reinforce that conviction. Annual Transacting Users grew 21% YoY to 284 million, with purchase frequency increasing to 10.4 transactions per user annually. What's encouraging is that even as first-time buyers grew 16% quarter-on-quarter, existing consumers continued shopping more frequently. This momentum extended into the festive season, with NMV growing 33% year-on-year on a festive-aligned basis, measured over the 90 days preceding Dussehra. But growth isn't just about how many people shop. It's also about what they discover and buy. Meesho Mall grew 81% YoY, as shoppers in smaller towns increasingly moved beyond everyday essentials to products like face serums, sunscreens and conditioners. Content Commerce NMV grew 160%, as more consumers discovered products through creators they trust. These shifts reinforce something we've believed for a decade: every time we make e-commerce more accessible and relevant, the market continues to expand. We're still early in this journey, and our focus remains on building the technology infrastructure to drive that expansion. For a closer look at the quarter, we've shared a snapshot of key metrics below, a short video walking through the highlights, and the detailed Shareholder Letter on our Investor Relations website: static-assets.meesho.com/inv… – at Anekal Bangaluru, India