: Spends & Trends: Decoding festive season 2021 from an industry lens #IndiaNEWS #Experts Speak The second wave of COVID-19 created a much more servere impact. Will the festive season ad spends and

Spends & Trends: Decoding festive season 2021 from an industry lens #IndiaNEWS #Experts Speak
The second wave of COVID-19 created a much more servere impact. Will the festive season ad spends and sentiments take a backseat as an effect? Social Samosa finds out

Last year the festive season marked a point of revival. Soon the second wave hit the country, creating a much more severe impact. With the onset of this festive season and gradual Unlock 2. 0, there are positive sentiments and buoyant expectations thriving to recur the losses, share our experts. Chintan Joshi, VP- Digital Products/Performance, Madison, Navonil Chatterjee, Joint President, and CSO, Rediffusion, Pankaj Jain, Partner Director, Native, India & SEA, Httpool shed some light on the marketing trends, AdSpends movement, and consumer sentiments.

The Second Wave Impact AdSpends

According to Navonil Chatterjee, the total consumer spending in 2021 will grow by 9. 1% while it contracted by 9. 3% last year. Some of the categories like durables, smartphones, and auto are projecting almost 30%-35% growth in the festive season. Another category that is promoting growth is the travel & trade industry, seeing a 35% uptake.

With vaccination, there is a little bit of safety and people are excited to come out and shop. Consumer confidence and revenge shopping are back. People will spend depending on the category and the volume of cash, he briefs.

Commenting on the impact of the second wave, Chintan Joshi highlights that the service category where actual logistical issues took place, saw a dip during the lockdown. However, when relaxations took place, it witnessed a double-digit recovery in the spends. He adds, So whatever we had lost during the lull period, we surpassed it by recovering 10-15%.

Pankaj Jain points out that multinational brands did not want to be in media during the time, or in news or seen around because the sentiments were highly negative during the second wave.

During this time brands tend to shy away. But at the same time, they were connecting with their consumers in an emotional manner through conversations related to the pandemic and COVID-19 on social media. I tag it as the Sonu Sood impact where everybody wanted to lend a helping hand. In the mid-market segments, you will see a surge. , he adds.

This is a good time for brands not going out for sales but for market share because what the pandemic did is create a vacuum. Joshi observes that in every category, we usually see new players coming up. But because of this vacuum, there is no new player in the market and the existing ones stand a chance to expand their foothold, making it a good time for them to spend.

No matter how smart we become its always temporary.