The third edition of GOSF (Google Online Shopping Festival) has started from December 10 till December 12. Over 400 partners will be offering online deals for 72 hours.
The concept of one day online sales has been around in the west for a while – many claiming the American version of “Cyber Monday” and “Black Friday” being the first online one day sale. In India, the Great Online Shopping Festival, or GOSF, was the first online shopping festival introduced in 2012 where Google partnered with multiple e-commerce sites to provide a 24 hour window to consumers, promising great deals and offers.
Established players like Myntra, Snapdeal, Amazon, Jabong, ShoppersStop and Homeshop18 is taking part along with more than 400 other participants that include an increase in the number of real estate players, given the success of Tata Housing last year, selling more than 50 flats during GOSF 2013.
However Flipkart has decided to rival the GOSF 2014 festival this year and would have its own sale between the 8th and 12th of December for shoppers shopping through their mobile app.
E-commerce players are bullish about GOSF and according to Bluestone(an online jewellery portal), they saw 3-4 times increase in daily sales during 2013 edition of GOSF. The number of visitors went up by 30- 35 percent, the conversion rates went up by approximately 50 percent. The momentum created on social media platforms also contributed to the increased conversion rates. This GOSF, BlueStone is expecting 3-4 times increase in daily sales.
According to Pennylane, a cashback and discount coupons website, they are expecting to see an increase of 4x in terms of number of transactions done on the site during GOSF, as compared to usual days. The company also expects to see an increase of 3x in revenues and a 100 percent increase in the average ticket size. Overall, Pennyful also expects to see a 30 percent growth in terms of new customers transacting on the site for the first time due to the event.