50 companies engage in ever-growing online market in worlds second largest population
San Francisco, CA -- (SBWIRE) -- 12/18/2012 -- On Tuesday, Google India stated it had partnered with e-commerce player Flipkart, as well as Snapdeal, Homeshop18, Indiatimes Shopping, and Makemytrip, in order to bring the country its own version of 'Cyber Monday' that was set for December 12.
Internet surfers were able to log into Gosf.in and find deals for the 24 hours, which housed deals from 50 partner sites across the e-commerce landscape. Sites included local, classified, online travel, and BFSI industry sites (Banking, financial services, and insurance), according to Google.
The festivities offered all the users a chance to shop for items that may otherwise be a bit out of price range, including tech gadgets, jewelry, computer accessories, health-and-fitness equipment, home decor products, and real estate deals.
'Black Friday' was first coined to denote the day after Thanksgiving, which was a day that held the most shopping in the country. 'Cyber Monday' followed suit in 2005, as the online companies did not want to miss out on the purchasing frenzy.
ComScore noted that $1.028 billion was spent in 2010's Cyber Monday (not including travel), which was an increase from $887 million the year prior.
India currently has over 137 million internet users, and India is seeing immense and steady growth in its online activity. For the first time, the industry saw an opportunity to utilize a single-day deal-day that would cater to its many potential shoppers.
“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,” it said.
“The online shopping industry is already over USD 1.5 billion and with this initiative, we want to reach out and promote online shopping to the first time buyers,” Google India MD and VP Sales and Operations Rajan Anandan said.
“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,” Myntra.com Co-Founder and CEO Mukesh Bansal said.
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