Online shopping cos encash on 12.12.12

112.12.12 is proving to be a memorable day for not just those celebrating their birthdays. It has turned out to be a big day for Indian ecommerce companies as well.

More than 50 e-commerce and retail companies participated in the 24-hour 'great online shopping festival' organised by Google India. Early results indicate that the festival is an unprecedented success. Companies like Myntra reported a 75% increase in traffic and a 120% jump in sales, HomeShop18 reported that most of its offers were sold out by 3 PM.

Analysts say the success of this event will provide a fillip to the nascent ecommerce sector in India

(Note: Web18, which owns Moneycontrol.com and HomeShop18, belongs to the Network 18 Group).

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