Google announced that they are bidding adieu to Great Online Shopping Festival in India. The Great Online Shopping Festival (GOSF) was a flagship annual online shopping event created by Google India on 12 December 2012 in collaboration with a number of Indian online shopping portals. The concept of the GOSF was that the online shopping sites would give heavy discounts for one day, in order to promote their sales. Google announced the shut down of this event stating that “Users don’t have to wait for 12 months to get the best deals online, small and medium businesses no longer have to wait for www.gosf.in to find customers from all across India.
In 2012, Google launched Great Online Shopping Festival as the Cyber Monday of India to encourage more Indians to shop online by offering them the best of deals across portals. The main objective was to bring all the leading ecommerce players on a common platform and boost the online shopping industry by focusing on first time buyers. We had never done anything like this before in any country, Google said in their blog.
Back then India had 130 million Internet users with only 8 million Indians shopping online, and the total online shopping Industry was approximately $2 billion. Fast forward to 2015, India has over 350 million Internet users and over 50 million online shoppers projected to reach 100 million by 2016 and the Industry is already over $10 Billion.
In addition to helping large eCommerce players get massive transactions, GOSF served as a great platform for hundreds of small and medium businesses to find customers across India. Many small and medium eCommerce portals used GOSF as a launch platform and saw phenomenal growth in sales and some of them today are well established online shopping destinations.
The pace of growth and the impact eCommerce companies are driving in India has gained significant momentum. GOSF in many ways was a catalyst in boosting consumer confidence to shop online and we are grateful to all our partners and buyers who contributed in making GOSF, the largest online shopping festival not just in terms of scale but also in impact, said Google Industry Director – eCommerce, Local and Classified Nitin Bawankule.
There were many learnings for us and the Industry on the whole but the time has come for us to bid adieu to the Great Online Shopping Festival. We will continue to invest in initiatives to empower small and medium businesses and work along with the Industry to make Internet a growth engine for the country, he further said in the Google India blog.
Source: Google India blog