Facebook set to launch its own shopping fest

With a rising number of Indian consumers showing interest in shopping online because of the deals offered and convenience factor, after Google, social networking site Facebook is said to be in the process of launching a shopping festival called ‘Tied Together’ around the occasion of Raksha Bandhan . Sources indicate that the social media company is looking at developing a website for the purpose, in association with media agency conglomerate GroupM between August 12 and August 29, the day of the festival.

Facebook plans to tap the database of 11.2 crores users in India by driving them to shopping portal to shop during the event. Companies interested in being a part of this fest will have to pay a fee that will be shared by Facebook, GroupM and other media agencies. Sources added that Facebook is hunting for a title sponsor and associate sponsor at an asking rate of Rs 3 crore and Rs 1.5 crore respectively.

Last October, Google held a shopping festival in association with GroupM and Amazon - the Grand Diwali Mela, sighting prospects of organising such events in the country. A year before that, Google had launched the Great Online Shopping Festival and Great Indian Travel Festival, earlier this year in association with media agency IPG Mediabrands.