GOSF: A missed opportunity for advertisers?
Google recently announced its decision to call off the Great Online Shopping Festival. This annual feature for the ecommerce industry that gave the necessary push to first time buyers and small and medium businesses, has evoked mixed reactions from the industry.
When Google launched GOSF in December 2012, only 8 million Indians shopped online. And most retailers saw an increase in traffic by 150%, and a 2x increase in conversion rates. Today, there are 50 million online shoppers. And with other players spawning their own discount festivals, retailers may no longer need a day to get people to buy online.
Could this then be the reason for Google to scrap GOSF?
Anupama Sundaram, Managing Director, Media iQ, further adds, “One of the motives for GOSF would have been ad revenues for Google which is potentially a missed opportunity now. However, it will be interesting to see how the three main ecommerce giants utilise the power of programmatic advertising to fight each other and get ahead of the game. The war is certainly on. But who will make the best use of advertising opportunities to take the major chunk of the market, now that Google has bowed out, is yet to be seen.“