NEW DELHI: The popular e-commerce sales have taken a toll on Google’s annual online shopping festival in India. The internet giant announced on Tuesday it is discontinuing the festival from this year.
Launched in December 2012, the Great Online Shopping Festival (GOSF) was India’s answer to the popular Cyber Monday sale of the US. It was aimed to encourage more Indians to shop online by offering them the best of deals across portals.
“Our 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,” said Google India in a statement.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. Today, India has over 350 million internet users and over 50 million online shoppers. This is projected to reach 100 million by 2016 and the Industry is already said to be worth over $10 billion. In addition to helping the large e-commerce players such as Flipkart, Amazon and Snapdeal get massive transactions, GOSF served as a great platform for hundreds of small and medium businesses to find customers across India, claimed Google.
“Many small and medium e-commerce portals used GOSF as a launch platform and saw phenomenal growth in sales and some of them are well-established online shopping destinations today,” said Google India Industry Director – eCommerce, Local & Classified, Nitin Bawankule.