Leap of faith

Feb 13 2014, 12:58 IST
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Google's GOSF success indicates that e-commerce category has win the confidence of Indians. Express photo Google's GOSF success indicates that e-commerce category has win the confidence of Indians. Express photo
SummaryGoogle's GOSF success indicates that e-commerce category has won the confidence of Indians.

An apartment worth Rs 80 lakh from Tata Value Homes for an initial registration fee of Rs 20,000, cash benefits on buying Nissans top models Teana and Terrano online, 32-inch full HD LED TVs from iGrasp available for Rs 17,990 against the regular price of Rs 25,990, a diamond pendant free on every purchase of more than R10,000 from online jewellery store BlueStoneall this and more were for the picking at the Great Online Shopping Festival (GOSF) organised by Google India earlier this month. And in case the online shopper didnt find these deals exciting enough, a website called CupoNation offered coupons for every category enabling consumers to avail additional discounts. No wonder, GOSF, which returned this year with more than 200 retailers, saw 2 million unique visitors buying almost everything online, right from cars to homes to LED television sets.

We have seen a phenomenal increase in the traffic and sales right from the first hour of the festival wherein the premium brands have seen the maximum traction. Revenue during the festival has increased five-six times more than a usual day. said Manu Kumar Jain, co-founder of online lifestyle store Jabong, which was among the many e-commerce firms which hopped onto the online shopping festival platform.

The concept of a one-day online sale originated in 2005 in the United States where many online shopping sites offer discounts on CyberMonday, the firstMondayafter BlackFriday, the day that follows the US Thanksgiving Day. Going by the number of consumers that Google claims shopped online, this year the three-day event which started on December 11 and was later extended by a day, got 2 million unique visitors of which over 30% were first-time buyers. Last years one-day GOSF saw 1.2 billion consumers of which 50% were first-time buyers. The shopping festival helps in getting first-time buyers online. The great deals and discounts act as a good catalyst that brings many Indian consumers online, said Rajan Anandan, vice-president and managing director, Google India. In fact, the organiser says that e-commerce players witnessed daily sales jump up by three to four times this year at GOSF.

While we have seen maximum increase in sales of shoes and apparel, an interesting insight is that the number of male shoppers have overtaken the number of female customers during GOSF. We have also observed an increase in time spent on the website per customer and increase in pages

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