Rick and Nina are not alone. In fact they are a part of a current clan of over 1.5 billion online shoppers across the globe (per latest Greyhound Research estimates). As steep discounting online sales, especially around the holidays and festivals, continue to become a global trend this number is expected to cross 2 billion by 2020.
In all likeliness most of us are a part of this growing clan and have been on a shopping spree in some (or all) of these festivals. Take for instance Cyber Monday sales which happen on the Monday after Thanksgiving in the United States or Singles Day sales celebrated on November 11 by young Chinese people for being single. These have come to be some of the largest online shopping festivals in the world. India hasn’t been far behind. Google’s India online shopping event called The Great Online Shopping Festival (GOSF), is one example. Other eCommerce vendors have been quick on their heels to launch their own versions for India like Flipkart’s Big Billion Day (BBD), Amazon’s Great Indian Sale, Snapdeal’s Unbox Diwali Sales among others.
One common theme across all these online shopping festivals is steep (sometimes unbelievable) discounts. A recent Greyhound Research study titled, Global Retail Index 2016 concurs the same. Per the study which surveyed over 14,000 consumers in 23 countries, 85% of online shoppers consider discounts as one of the primary reasons for choosing to shop online. Other prominent reasons include convenience, better experience, more services and the ability to compare real-time.
Read more: Tips To Make Online Shopping A Truly Rewarding Experience
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