The mega ‘Great Online Shopping Festival’ (GOSF) is around the corner. The first edition of GOSF was launched by Google Inc. in 2012.The main concept behind GOSF was that the various online Shopping sites would provide heavy discounts on one specific day to promote their sales.
This year this Online Shopping Festival will be held from December 10- 12, 2014 featuring over 450 online partners offering their exclusive deals for almost 72 hours. But the GOSF pre-party has already started from Tuesday 25th November and will last till December 8, enabling users to win 14 minutes of free shopping (up to Rs 2.5 lakhs in value) from famous brands like Asian Paints, Jet Airways, KOOVs, Lakme, Kindle, Micromax, HP, Big Bazaar and Lenovo.
This festival will have the participation of E-commerce companies, classifieds firms travel sites, telecom companies, fashion brands,health and well-being companies, and even banking and financial retail services. Some major brands that are taking part in this festival are Goibibo, Ask me, Bigrock, Shine, LAKME, Paytm,Jabong, Citi Bank, Airtel, DOCOMO, Asian Paints, Spice Jet, Big Bazaar, GRT jewellers, Foodpanda, Naaptol and many more online legends are preparing to give huge discounts.
Last year, the second annual Great Online Shopping Festival (GOSF) was quite successful and gave significant boost to online sales. Retailers such as Myntra, Snapdeal, Jabong and others, attracted shoppers by massive discounts. Some 240 websites took part in GOSF and the event continued for three days from 11-13 December. Because of higher rate of traffic than expected, the GOSF site remained un-operational for at least 12 hours on 11th11th December so Google and other online retailers extended the event till December 14.Around 30 per cent of buyers shopped online for the first time during GOSF.
The Great Online Shopping Festival is regarded as India’s version of Cyber Monday and is an exciting platform to provoke awareness and consumer adoption of online shopping in India.Industry estimates suggests there are close to 20 million online shoppers in India and it is estimated to grow to 50 million in next coming years, making it almost a 16-billion dollar industry.Thus, the increasing number of online shoppers is continuously fuelling the growth of both large multinational and national companies over the web.The success of this measure (GOSF) can be determined by the response with almost 350 per cent growth in daily sales and involvement of plenty of online retailers.