In an effort to boost the online shopping adoption in India, all leading eCommerce players & Google India have come together to bring the concept of Cyber Monday to India - titled ‘Great Online Shopping Festival’ slated for 12th December 2012 www.gosf.in. With over 137 million Internet users in the country, India is witnessing a significant growth in the online activity and this is for the first time, an Industry wide initiative of this scale is being attempted to offer users all across the country an incentive to gain from unbeatable deals that they can find on the web on a single day.
The festival will see participation from over 50 partners including leading eCommerce, local & classified, online travel sites and BFSI industry offering their best deals to customers all across India for 24 hours.
The initiative is aimed at encouraging shoppers to adopt online shopping with a focus to reach out to first time online buyers. The participating companies will also offer special deals for the first time buyers on their websites. The festival will offer them an opportunity to shop for Jewelry, Shoes, Apparel, Travel packages, books, kids wear, gadgets, watches, computer accessories, health & fitness equipment, home decor products, great deals on real estate and many more.
Speaking about the launch of the initiative, Rajan Anandan, Managing Director & VP sales & Operations Google India said, “We’re very excited to partner with all the leading eCommerce players in the Industry to bring the concept of Cyber Monday to India. The online shopping industry is already over a 1.5 $ billion and with this initiative we want to reach out and promote online shopping to the first time buyers. The Industry has done a lot to promote eCommerce adoption in India and we’re partnering with them to provide the users an easy access to all the deals and we look forward to great response from buyers all across India.”
Apart from lining up great deals, buyers will also be able to enjoy free shipping across India and learn more about online shopping, various methods of payments and how safe and convenient it is to shop online.
Speaking about the initiative, IndiatimesShopping, COO, Subhanker Sarker, said, “This is a very exciting time for eCommerce players in India as this event highlights the potential of online commerce in our country. The shopping festival will be a gala event for shoppers and first time buyers will have the opportunity to explore and gain from deals across a wide variety of products. We are sure that this event will be able to further popularize online shopping as a convenient, trustworthy and exciting experience, which is already making waves across the country.”
Commenting on this unique initiative, Mukesh Bansal, Co-Founder & CEO, Myntra.com said, “Online shopping in India is fast catching up to western markets and with initiatives like the Great Online Shopping Festival, first time shoppers will soon discover the benefits that e-commerce platforms have on offer. For this 24 hour sale, we have lined up some really exciting offers from our portfolio of 500 brands and we’re confident that shoppers will come back for more.”
Kunal Bahl, Co-Founder and CEO, Snapdeal.com said, “This is a great initiative which will bring together the industry and all leading players under one ‘roof’ and will further boost adoption of online shopping in India. It will expand our reach beyond the 18 million Snapdeal subscribers and will help us attract and reach more buyers. As part of this initiative, we at Snapdeal.com have come up with some really exciting and exclusive offers for online shoppers across the country”.
Buyers can look forward to exciting deals across a variety of product range for example users can enjoy discounts up to 40% on smart phones and tablets, up to 70% off on premium and branded footwear, up to 70% off on home decor products, 20% off on diamond & gold jewelry plus an additional discount of 12% for first time buyers only on 12th December. Partnering sites will also offer express delivery and many other exciting offers like an opportunity to save up to Rs. 10 Lakhs on real estate deals.
Following are the companies that are participating in the Great Online Shopping Festival
eBay India, Flipkart.com, IndiatimesShopping.com, snapdeal.com, makemytrip.com, Yebhi.com, firstcry.com, Sulekha.com, Homeshop18.com, Croma, Gitanjali Group, Shine.com, Yatra.com, Zansaar, Fashionara, Caratlane, pepperfry.com, healthkart, Lenskart, Monster India, Bagskart, Jewelskart.com, Watchkart, Tradus, GoIbibo, Timtara, FreeCultr, BeStylish, Inkfruit, Myntra, Zovi, Fashionandyou, Quikr, Hoopos, Naaptol, Jabong, Firstcry, Goodlife, Babyoye, Hushbabies, PropTiger, Fabfurnish, IndiaProperty, People Interactive (Shaadi.com), BigRock, BharatMatrimony, Utsav Fashion, Right florists, Right Shopping, Gets Holidays, Jet Airways, Travelyaari, redBus, Indigo Airlines, Getit Infoservices
What is Cyber Monday?
Cyber Monday is a marketing term for the Monday after Black Friday, the Friday following Thanksgiving in the United States, the term "Cyber Monday" was created by marketing companies to persuade people to shop online. The term made its debut on November 28, 2005 in a Shop.org press release entitled "'Cyber Monday' Quickly Becoming One of the Biggest Online Shopping Days of the Year".
In 2010, comScore reported that consumers spent $1.028 Billion online on Cyber Monday (excluding travel, 2009: $887M), the highest spending day of 2010.
India Infoline Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.