The market is coupled with energy of online shopping and there are floods of Diwali Bonanza at the giants of the industry be it their websites or apps. Flipkart, Amazon, Snapdeal and Myntra are ushering their best of the offers to get maximum consumers. Well, considering the scenario that is quite lucid in the Indian Market, Google on Tuesday announced it was discontinuing its annual Great Online Shopping Festival (GOSF), which was India’s answer to the hugely popular ‘Cyber Monday’ sales in the U.S.
Google India Industry Director (e-commerce, local and classified) Nitin Bawankule wrote in a blog that “Today, India has many flourishing and successful e-commerce companies and there are multiple deal days being hosted by various e-commerce players delivering great value to shoppers across India. Users don’t have to wait for 12 months to get the best deals online, while small and medium businesses no longer have to wait for www.gosf.in to find customers from all across India.”
GOSF has always been a big news and offer for the Indian market as these offers bring plenty of stuff at homes. According to Google’s estimates, when GOSF was first introduced in 2012, India had 130 million Internet users with only 8 million shopping online, and the total online shopping industry was worth about $2 billion. It moved to a figure that 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 USD 10 billion.
The online shopping is an idea that has bloomed the market with offers but as the market managers are competitively getting their hand on the customer’s pocket, it seems that Google find this is the time to bid adieu to the GOSFs.
“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,” Mr. Bawankule said.
