: #RoadTo2021 Experts estimate digital AdEx to grow by 20% in the milieu of changing consumer behavior #IndiaNEWS #Experts Speak Marketing blueprints for the quarter have been charted out and so is

Posted in: #Experts #IndiaNEWS #RoadTo2021

#RoadTo2021 Experts estimate digital AdEx to grow by 20% in the milieu of changing consumer behavior #IndiaNEWS #Experts Speak
Marketing blueprints for the quarter have been charted out and so is the investment flow. We speak to experts to calibrate the ad spends growth for 2021.

The data on statista. com suggests that the revenue generated by digital advertising across India was valued at around INR 199 billion in the financial year 2020 and the total advertising revenue was over INR 700 billion Indian rupees. GroupM’s TYNY 2020 forecast estimated growth of 10. 7% in India’s advertising investment. How much are these progressions in line with the on-ground happenings? With the pandemics impact still looming over, we take a look at the ad spends 2021 projections with the help of a few experts.

Ad spends 2021

Anand Bhadkamkar, CEO India, dentsu anticipates that there would be a double-digit growth over 2020- around 10-12% in the overall ad spends. However, according to him, getting back to pre-COVID levels is going to take some time.

“Digital should be growing around 20% or above – lower than what we anticipated earlier for 30%,??? he adds.

With production and printing at a halt, traditional mediums like television, print, and OOH took a hit during the peak of the pandemic induced lockdown. Gradually the television industry got back on track and slow progress was witnessed on other mediums too. Amidst the chaos, digital served as the savior where every brand hopped onto social media platforms to cater to their respective target audience with significant investment in it by the marketers.

The trend continues to be seen this year too where experts are of the view that digital will occupy a larger share in the advertisers media mix owing to its massive reach and ease of accessibility. Digital ad spends should touch INR 25,000 crore or approximately 3. 5 billion USD in India in 2021, projects Sahil Shah, Executive Vice President Operations & Media, WATConsult.

On the other hand, Amyn Ghadiali, Vice President- Business & Strategy, Gozoop notes that at a macro level, we can expect an increase of 20-25% from the year before as many international events & tournaments are planned in 2021-22. He says, “Plus, we are expecting the entertainment industry, i. e movies in specific, to restore the old cinema format. All of it will add significantly to ad spends. ???

According to his understanding, digital-first businesses will increase their ad spends by at least 40-50% because they would want to sustain and grow the momentum.

Marketers are being cautious about spending and are looking at the RoI metric more closely. “Since Digital adoption has accelerated in the past few months we are seeing a significant increase in spends on digital.