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India Inc’s Festive Ad Spend Could Hit ₹ 25,000 cr

August 09, 2018 06:43 AM

COURSTEY ET AUG 9

India Inc’s Festive Ad Spend Could Hit ₹ 25,000 cr
Consumer sentiment likely to be buoyant after two subdued festive seasons due to note ban and GST
Shambhavi.Anand@timesgroup.com

New Delhi:

India Inc. may spend ₹25,000 crore on advertising, marketing and promotions during the festive season this year, 10% more than what they spent at the same time in 2017, top media planners in the country said.


“I expect this year the festive season should be good and we should see a healthy double-digit growth during the festive season. I expect an overall growth of around 10-12%,” said Ashish Bhasin, CEO - South Asia, Dentsu Aegis Network.

“The April-May-June quarter has been reasonably good. Consumer spending seems to have gone up and I think that has resulted in driving up the sentiments further,” said Sam Balsara, chairman of Madison World.

Consumer sentiment is expected to be buoyant after two subdued festive seasons on account of demonetisation in November 2016 followed by the implementation of the goods and services tax from July 1 last year.

Prospects of a good monsoon this year, which is expected to boost crop production, have also fuelled the hopes of consumer-driven industries. “There is a revival in demand from the rural market, so a lot of related sectors will grow,” said Lakshmi Narasimhan, chief growth officer of GroupM South Asia.

Industries that are expected to drive the maximum growth on the back of rural demand and a good monsoon are fast-moving consumer goods, automobiles and two-wheelers and handsets, especially through sales by e-commerce platforms during the festive season.

The optimism is likely to spur the entry of new advertisers. “This year, some digital entertainment companies like Netflix, Amazon Prime are coming up. They are likely to spend during the festive season,” Bhasin added.

With the season contributing 40% of annual sales, companies spend heavily on promotions to make the best use of the biggest shopping opportunity of the year. The festive season contributes a large chunk to advertising expenditure every year. Starting with Ganesh Chaturthi and Onam, the season peaks during Diwali and continues till Christmas, accounting for about 40% of overall advertising expenditure every year.

 

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