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Our read
Meesho is likely to keep growing festive users faster than rivals year on year, with Flipkart still ahead.
For operators
Flipkart is up 16% on its prior four-week average and 11% on the 2025 festive period, while Amazon is up only 5%, so rival platforms need sharper festive acquisition and retention offers to close the traffic gap.
Watch
Meesho weekly users above the 22.6 million reported, in the next weekly Sensor Tower read, would mean festive gains are holding and Flipkart's lead is narrowing.
The report, : CLSA: Meesho and Nykaa Fashion grow festive users faster year on year than weekly trends imply; Flipkart leads
CLSA reported Flipkart added 26.7 million weekly active users, while Amazon and Meesho each added 22.6 million in the latest week. Meesho and Nykaa Fashion were the only players growing faster against last festive period than week-on-week trends implied. Data is Sensor Tower app-usage estimates.
- Flipkart26.7 million
- Amazon22.6 million
- Meesho22.6 million
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Reported figures
From the report. Source details below
| Flipkart weekly active users vs previous four-week average: | 16% |
|---|---|
| Flipkart weekly active users vs 2025 festive period: | 11% |
| Amazon weekly active users week-on-week rise: | 11% |
| Amazon weekly active users vs previous festive period: | 5% |
Why it matters for the brand
Meesho and Nykaa Fashion are the only platforms beating their trend year on year, which makes them the festive momentum benchmarks, while Flipkart's lead and Amazon's 5% growth show where scale and slower growth sit.
What to track next
- Flipkart's rise over its prior four-week average staying near 16%
- Amazon's year-on-year festive growth moving past the 5% reported
- Nykaa Fashion's year-on-year growth still beating its week-on-week trend
- Meesho commentary on orders or retention in its next results
Likely next moves
Our read of what comes next — analysis, not reported by the source.
- Meesho is likely to keep pushing low-price and fashion assortments to hold the users it added during the festive weeks.
- Flipkart is likely to defend its lead in weekly users with further sale events and targeted offers.
- Amazon may sharpen its value and fashion pitch, since its growth on last festive trails Flipkart's.
- Nykaa Fashion is likely to lean on its year-on-year outperformance in marketing to deepen engagement.
- Expect analysts to weigh whether Meesho's festive user gains convert into orders rather than app activity alone.
The counter-case
The case against this reading — not reported by the source.
This is a thin, app-only read built on modeled third-party data. Sensor Tower WAU figures are panel-based estimates, and they miss web and mobile-browser traffic, which is large for Amazon and Nykaa. The deck is also ambiguous about whether 26.7 million is net additions or total weekly actives. Amazon and Meesho both showing exactly 22.6 million looks like rounding or modeling smoothing, not a real tie. The headline claim that Meesho and Nykaa Fashion are growing faster than weekly trends imply is also hard to check, because the deck gives no year-on-year figure for either. They may be beating trend off a small or weak base. Users are not sales either: Meesho's low-ticket, value-seeking users convert to far less GMV per head than Flipkart's or Amazon's, so a user lead says little about festive revenue or share. Festive timing can also distort the comparison. A single 'latest week' set against a four-week average and a prior-year festive period is only valid if the sale calendars line up, and the sale windows of Flipkart, Amazon, Meesho and Myntra often start on different dates.
The source
First seen