A travel website recorded 25 per cent jump in transactions in the last four days. A real estate company witnessed brisk sale of units. A leading e-commerce player claimed it sold 10 times of that it would do on a normal day. Those are among the deals that made the four-day Google Online Shopping festival quite a rage in the cyber space. Although it had started with a technical glitch, players ranging from banks to e-commerce companies, realtors to automobile firms, and retail majors to hotel biggies went home happy with cash registers ringing as the fest concluded today.
In fact, the fest, which has gone up from being a one-day event to a four-day bonanza, emerged as a top trend on twitter and a talking point on the networking site Facebook. The trigger may well have been Google's promotional strategy of giving a Nexsus 7 tablet every hour to the most interesting tweet answering--Why do you deserve a deal (at online festival) and Nexsus 7.
Most participants claimed they registered increase in sales and revenue, but official data is not out yet. "We don't have data on total amount of sales but most players have seen a robust growth, " said Nitin Bawankule, Industry Director, E-commerce, Google India.
It was not just the usual apparel and mobile categories that gained most, people also bought houses, planned their holidays and availed discounts on hotel bookings. "We have garnered incremental sales of about 25 per cent. Hotels have been a huge hit as we were offering a flat 35 per cent off, closely followed by flights and holidays," said Sharat Dhall, president, Yatra.com.
Similarly, Tata Value Homes said the company had sold as many as 22 units (houses) in a two-hour block during the sale.
On day one, e-commerce company Myntra sold 1 lakh products and another firm from the online space Snapdeal registered a 10x growth in daily revenues. "Our transactions have increased by 146 per cent with a 72 per cent hike in revenue," said Ridhima Gupta, Executive Director, Kent RO systems, another participant in GOSF.
A spokesperson from the largest online retail chain of the world, Amazon, said that the website had seen an over 5X increase in units being sold and there was a spike across all categories. Consumer electronics was the highest selling category.
According to Bawankule of Google, the festival saw participation from all over India with 50 per cent buyers making an online purchase for the first time. Another website Infibeam attracted 67 per cent first time buyers.
E-commerce firm Jabong.com reported maximum increase in sales in the men's category, with substantial number of buyers in tier II cities. The buyers from tier II cities doubled for Homeshop18 for the sale period. Also most leading e-commerce players witnessed about 2-3 times increase in the mobile traffic.
Experts pointed out interest of offline players and brick and mortar stores to enter an online shopping festival was striking. "The offline decisions are becoming increasingly influenced by the online world. It is vital for player in any sector to understand the audience and buyer's behavior on the internet," said Gaurav Gupta, Senior Director, Deloitte India. Argued Sriram Ravi, Head-Digital Marketing, Basics Life, that events like GOSF are a platform in helping them test the preparedness by simulating the huge online shift expected in the near future.
via Technology - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNE8q2CtILbbguA6CFFS8HP9ntFrMQ&url=http://www.business-standard.com/article/companies/cyber-world-rides-the-google-fest-tide-113121400517_1.html
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