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<ul><li>The first half of 2020 was so unusual and unprecedented that the ad industry took a nosedive to as low as -60%.</li><li>Businesses of all kinds and sizes suffered and put their advertising activities on hold to give their consumers space to process the unprecedented times.</li><li>So, after a year and a half of lull, brands and advertisers went all out with their marketing activities during the festive season this year. Consumers were extra excited to step out, shop zealously and as most research studies reflected, Diwali exceeded expectations and broke previous records.</li><li>So, we speak to media experts and digital agencies to find out if the advertising industry has managed to bounce back this year, discuss the industry’s spending so far and their expectations from the last festival of the season, Christmas.</li></ul>After a year and a half of celebrating festivals virtually, Indian consumers were excited to have some sense of normalcy back this year during the festive season. Advertisers and brands also went all out to leverage on this uptick in consumer sentiment, starting from Raksha Bandhan to Diwali. Experts were also hopeful that the festive season will bring in cheer and serve as a respite from the pandemic-associated slumber. According to Redseer Consulting, 2021 saw India witness its biggest ever Festive Sales with brands clocking a Gross Merchandise Value (GMV) of $9.2 billion through online channels over this period. Online Festive Sales in India continued to grow at a blistering pace and saw a 23% YoY growth in GMV. On the other hand, the categories that witnessed subdued growth this year included the likes of home furnishings, home decor, furnishings and other electronics. Looking back at 2020, Eeshita Ghosh, General Manager and Office Head, Motivator Bangalore said, “The festival of 2021 is definitely better than 2020 and as high if not more than 2019. The ad volume started picking up from Q3 of 2021 and with more than 20% growth over 2019 Q3. The festival months saw multiple new advertisers getting active, approximately 2000+ new advertisers are active in media. The inventory was full, and the market sentiments were very positive. With festival and IPL, media was very active with multiple new categories.” A lot of hopes were banking on the festive season for the industry's overall revival, however, unlike Ghosh, Neena Dasgupta, CEO &amp; Director, Zirca Digital Solutions was a little disappointed; not with the numbers but with overall creativity. Explaining why, Dasgupta said, “Honestly, the performance fell short of expectations. Not only in terms of volume but also the kind of activities. I felt our methods possibly regressed a bit to remain cautious and conservative. Innovative ideas were few and yet each of them benefited. The consumer is now more aware and it’s time we took their psychometric into consideration. And at times where media dollars need to be more efficient and effective, we have to embrace tech that allows us to capture the consumer mindset and then deploy media buys across mediums.” Sharing how the festive season has panned out so far for the advertising industry, Dasgupta added, “It’s been an interesting festive season. There was exuberance in the consumer spirit and it reflected in some categories. And yet the exuberance didn’t necessarily translate into communication to the same scale. This was possibly a combination of inflation, economic imbalance at consumer levels and some category constraints that impacted sales. What was interesting g though was the growth in rural activities at the consumer end and advertising end too. Every medium had its share. And fintech growth made some aspirations real for this segment. We now have a fascinating growth story for Bharat.” With a steady monsoon and plump harvest so far, it was a cheerful year for rural India as well. They spent their harvest festivals with more enthusiasm and happiness to share with their loved ones. Brands also left no stone unturned to expand their marketing activities beyond metro and Tier I cities this year. In fact, this year, Tier II and III had the lion’s share in e-commerce spends. Will we return to 2019’s ad spends? After June, the advertising industry’s performance picked up by leaps and bounds. Raksha Bandhan, Ganesh Chaturthi and ace festival Diwali, improved consumer sentiment and helped the advertising industry to bounce back. But have we returned to 2019’s levels? “The ADEX numbers for October and November are yet to come, but as we observed from our billing, we are positive that it has bounced back to 2019 levels,” said Ghosh. Dasgupta told Advertising and Media Insider that regional and rural markets exceeded 2019’s performance but some markets are yet to reach there. Decoding media dispersion this festive season While there was buoyancy across the board, television got the most attention from advertisers yet again, followed by digital. Talking about medium dispersion, Monaz Todywalla, CEO at PHD Media India said, “In terms of mediums, television and digital continue to drive impact and lead from the front, with digital playing a vital role in ensuring last-mile connectivity and driving sales across multiple touchpoints. Raman Mittal, CMO and Co-Founder, TO THE NEW was delighted to see digital getting a bigger piece of pie than 2020. He said, "COVID revolutionized the way people shop. We saw businesses go all out on digital channels this Diwali season to communicate with potential clients. Companies have adjusted their attention on digital marketing to stay up with new shopping channels and get the biggest piece of the pie as a result of continual digital transformation." "Interaction and Influencers were the two themes that peaked this festive season," Raman continued. "Giveaways, contests, and online polls were used to promote interactive content. In addition, the top celebrities were enlisted to help brands stand out amid the crowd. These tendencies, we believe, will last well into Christmas and New Year." Within digital, video got the most attention and while traditional advertisers continued to spend heavily, they were matched and at times exceeded by online services/startups. Mihir Karkare, Cofounder and EVP of Mirum India said, "The videos ruled the roost this festive season. Online video platforms were in great demand – YouTube and OTT were the preferred choices for brands. Apart from Diwali, all the cricketing action also contributed heavily towards increased advertising spends. From a 'growth of share' standpoint, Influencer marketing as come of age." Hopes rest on Christmas Christmas is the last festival of the year. Will it give an additional impetus and help the advertising industry exceed 2019’s performance? “Christmas is a bit low, but we have seen many advertisers continuing with the momentum built during the Q3 period. I expect Q4 to be like Q2 and will be higher than Q4 of 2020 and close to 2019 Q4,” answered Ghosh. PHD Media’s Todywalla is optimistic that the momentum will continue and brands will keep up with their marketing blitzkrieg. “With consumers showing an increased propensity to spend, pent-up demand from brands translating into a bouquet of launches - complimented by high-decibel marketing campaigns, and an overall increase in consumption and sales from all corners of the media and entertainment ecosystem, the festivities have ushered in a season that's peppered with a healthy dose of optimism. We believe this wave of hope and optimism is expected to be carried forth into the coming year too," said Todywalla. With a huge push from key festivals such as Diwali, Ganesh Chaturthi and Raksha Bandhan, cautious optimism continues to thrive in the advertising industry.

Has 2021’s festive season given India’s advertising industry a big enough push to recover from the 2020 after-effect?

<ul><li>Indian consumers show digital endurance as the festive season drives sales across categories- findings by Criteo.</li><li>As per the report, festive shopping started one month prior to Diwali in 2021, with +27% spike.</li></ul>Criteo today released the findings from the 2021 &amp; 2020 festive seasonality data. According to the 2021 data, home furnishing and food topped the list of the most popular shopping categories with +42% and 18% sales 5 days before Diwali. Criteo’s data further revealed that this year marketers witnessed an early shopping hype during pre-Diwali from late September 2021, compared to mid-October in 2020. The highest peak observed during the period of the Big Billion Days was on October 3rd 2021, representing an overall Y-O-Y daily sales of 200% with the first 7 days of September 2020 as a baseline. Taranjeet Singh, Managing Director of Southeast Asia and India, Criteo, said, “The Indian E-commerce industry had seen a categorial upsurge, enabling marketers to invest more in digital advertising including mobile marketing. We observed that consumers apply the basket and sales strategy during e-commerce sales specifically for the Big Billion Days period, wherein consumers place their items into shopping carts prior to the date of sale and complete their transaction while the platform commerce sale goes live. In Criteo’s 2020 data, it can be seen that people started to look into items approximately 3 days before, recording 120.8% in the indexed basket. Moreover, growing trends of video ads indicate that video is gaining importance this festive season. According to <a href="https://go.criteo.com/2021-holiday-commerce-report/">Criteo’s 2021 Holiday Commerce Report</a>, consumers are receptive to ads when they’re watching videos and will take actions like searching for and purchasing the products they've seen.” Indexed Daily Basket &amp; Sales Events, 2020 (Baseline: first 7 days of October 2020) The 2020 and 2021 data additionally reveal deeper insights on the evolving e-commerce trends expected this year: <ul><li>With September 2020 as a baseline, approximately 86% pre-Diwali daily sales were noticed in October 2020, whereas 2021 detected 200% of daily sales in the end of September, marking the beginning of the Big Billion Days period. </li></ul> Indexed Daily Sales of 2021 &amp; 2020 (Baseline: September 2020) <ul><li>5 days before Diwali 2021 demonstrate an increase in the buyer’s retail shopping interest. Home furnishing and Food led the festival with respectively +42% and +18% sales (with First 7 days of October 2021 as a baseline).</li></ul>Diwali 2021 Indexed Sales (Baseline: First 7 days of October 2021) <ul><li>With the first 7 days of October 2021 as a baseline, festive shopping started one month prior to Diwali in 2021, with +27% spike. </li><li>For the rest of October, the sales remain moderate, however, there are two small increases around October 17th and 23rd, although it didn’t exceed the trend observed at the beginning of the month. Indexed Sales in 2021 (Baseline: First 7 days of October 2021)</li></ul>

Home furnishing and food were the most popular shopping categories with 42% and 18% hike in sales 5 days before Diwali: Report

<ul><li>While no decision has been made yet by the Government to ban Cryptocurrency platforms and their ads yet, if banned in the ongoing winter session in the parliament, it is likely to have a larger impact on India’s advertising sector.</li><li>Here’s a look back at how much Cryptocurrency platforms contributed to ad revenue pie from January to November 2021, as per TAM AdEx.</li></ul>A <a href="http://loksabhadocs.nic.in/bull2mk/2021/23.11.21.pdf">proposed </a>bill in India indicates that the government is mulling over introducing a facilitative framework for the creation of an official digital currency to be issued by the Reserve Bank of India. The Bill also seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses. This uncertainty has already caused price declines on the local exchanges and crypto advertisers have decided to take it slow until the next hearing. While Union Finance Minister Nirmala Sitharaman had said that no decision has been taken on banning crypto advertisements, there is a new Bill in the making, which implies there will be stringent policies in place. FM Sitharaman further said that the new Bill will take into account the rapidly changing dimensions in the virtual currency space. She had also mentioned that it will be presented to the Cabinet and introduced in the Parliament during the ongoing winter session. Until the next hearing, crypto platforms have either halted or slowed their advertising activities, which is likely to impact advertising revenue collection. As per exclusive data shared by TAM AdEx with Advertising and Media Insider, there was a spike in cryptocurrency-related digital advertisements by 36 times between Jan to Nov 2021. Due to the festive season and IPL 2021, crypto platforms were at their peak during October. The month of Diwali, which was October this year, nearly had a 30% share of the category and it took a dip by 6% in November 2021, whereas on television, there wasn’t a single ad from Crypto platforms in 2020. In 2021, television has seen 33.4 hours of advertising from Crypto platforms. The festive season proved to be bountiful for television too as October had more than 75% share of Crypto platforms, up from 2% in June and 23% in September. More than 85% of cryptocurrency advertisements were on Sports channels, with the rest appearing on News channels, GEC stations, and Movies channels. Cricket was the most popular genre amongst all, with 84% of <keyword id="6376163" type="General" weightage="20" keywordseo="cryptocurrency-advertising" source="Orion">cryptocurrency advertising</keyword> airing in Y 2021. Ad insertions of cryptocurrency grew from 0.01% share in overall Digital advertising during Jan-Nov'20 to 0.27% in Jan-Nov'21, indicating that the competition is getting intense and there’s a wider consumer base for brands to woo now. Simultaneously, the count of advertisers grew fivefold from 15 in Jan-Nov'20 to 59 in Jan-Nov'21 on digital mediums, revealed TAM AdEx. <keyword id="10245463" type="General" weightage="20" keywordseo="CoinSwitch-Kuber" source="Orion">CoinSwitch Kuber</keyword> had the lion’s share of 44% in digital crypto advertising from Jan to Nov, followed by <keyword id="12656736" type="General" weightage="20" keywordseo="coinswitch-co" source="Orion">CoinSwitch.Co</keyword> at 18% and <keyword id="6416838" type="General" weightage="20" keywordseo="coindcx" source="Orion">CoinDCX</keyword> at 18%. <keyword id="6672551" type="General" weightage="20" keywordseo="wazirx" source="Orion">Wazirx</keyword> and Zebpay had 8% and 6% share respectively in digital advertising Between Jan to Oct, CoinSwitch Kuber had the biggest share of 58% on television too, followed by CoinDCX at 36%, Zebpay at 5% and WazirX at 1%. Prime Minister Narendra Modi in the meeting conducted on November 13 had reviewed key issues concerning cryptocurrency. He had discussed misleading, non-transparent advertising practices. It was also discussed that unregulated crypto markets should not become avenues for money laundering and terror financing. In the past few months, we have seen a lot of high decibel campaigns from a lot of crypto players including WazirX, CoinSwitch Kuber, CoinDCX, Zebpay to name a few. Many of the platforms have used prominent faces like Ranveer Singh, Kunaal Kapoor Roy, Vishnu Kaushal to woo young consumers. A lot of people have been speaking about the risks of investing in the currency without fully understanding how the crypto ecosystem works. The government’s move therefore could help bring about more transparency and accountability into the ecosystem.

CoinSwitch Kuber, CoinDCX and WazirX were the top crypto advertisers on digital mediums this year: Report

<ul><li>As we enter a brand new year, we want to crystal gaze into what the year holds for us.</li><li>In today's feature, experts from the <keyword id="12905" type="COMPANY" weightage="20" keywordseo="Radio">radio</keyword> industry tell us a few big trends we need to watch out for in 2021.</li></ul>We have finally left 2020, one of the most difficult years we have faced collectively in recent times, behind. It was a year that affected businesses, lives, markets, and the world in general. And it obviously had an impact on the media and entertainment industry too. While it affected almost all media platforms, it affected some mediums more than others. Traditional mediums like Print, OOH, Experiential and Radio bore the brunt. With advertisers stopping most of their marketing activities, especially in the first few months, AdEx witnessed a major dip. Specifically Radio as a medium is largely dependent on <keyword id="3381059" type="PERSON" weightage="20" keywordseo="retail-advertising">retail advertising</keyword> and when retail saw a complete shutdown, the medium suffered too as advertisers pulled back on ads. Many radio players had to cut salaries and rationalize manpower. However, according to most experts from the industry, it was also a great teacher. It taught the industry to innovate and efficiently reduce cost, that they feel will come handy for organizations in the future too. Now, with things slowly getting back on track, most leaders are excited about 2021. We spoke to a few of them to understand what to expect from the upcoming year, and the trends that we should look out for in the Radio industry. Here’s what they had to say: <keyword id="295639" type="PERSON" weightage="20" keywordseo="Abraham-Thomas">Abraham Thomas</keyword>, CEO, <keyword id="694101" type="COMPANY" weightage="20" keywordseo="Reliance-Broadcast-Network-Limited">Reliance Broadcast Network Limited</keyword> <div type="image" title="Abe" msid="80041608" hostid="261"></div> The year 2020 has surely been a great teacher as it enabled us to broaden our horizon and explore possibilities like never before. Radio has been re-imagined in the minds of the listeners and its transformation into a complete audio entertainment platform has been a stellar one. For 2021, we see the medium seamlessly integrating digitization further and taking massive strides as the emergence of audio will take precedence across all innovations. This year, the advancements of digitization enabled radio networks to build a holistic audio entertainment experience for listeners as well as for brands to leverage. For the coming year, we are certain that there will be an expansion in the audio space with radio further venturing into avenues that harnesses the power of the medium. The changing landscape of consumer behaviour presented us, at <keyword id="82551" type="COMPANY" weightage="20" keywordseo="Big-FM">BIG FM</keyword>, with opportunities and we established ourselves as an audio entertainment player. After the launch of our web radio platform Big Radio Online this year, we are strategically advancing into a myriad of avenues such as gamification, chat bots, social commerce and many others. This will enable us to present an immersive experience and also a deeper level of engagement with various stakeholders. We see this dominating the innovations and leading the trend for next year. These avenues will further integrate radio into becoming a one-stop audio entertainment destination. Radio as a medium has constantly reinvented itself, is in line with the evolving times and will continue to expand its wings and dominate the audio content space in the year to come. <keyword id="6630520" type="UNKNOWN" weightage="20" keywordseo="Prashant-Panday">Prashant Panday</keyword>, MD &amp; CEO, MIRCHI <div type="image" title="DSC_9512" msid="80041548" hostid="261"></div> “The pandemic has hit the business of every advertiser. It has increased the risks for them. In 2021, and in years further ahead, advertisers will want to reduce risks associated with media buying. To this end, they will demand more “solutions” to their marketing challenges from their media partners. They will scale back on pure media buying, and put more monies on solutions. Media companies will have to add marketing and creative people to their teams, who can understand the challenges of advertisers, and develop solutions accordingly. Media companies will move towards becoming marketing consultancies, though they will not directly compete with advertising agencies. Media companies will extend the brand messaging that ad agencies create through innovative last-mile adaptations. In order to do this, media companies will have to develop a suite of products, very different from their core product. Mirchi for instance, has developed digital products that include original video content, other videos, online radio, and audio solutions using the plain old telephone system. We have also developed a suite for on-ground and on-TV IPs like the Mirchi Music Awards, the Mirchi Cover Stars and the Mirchi Neon Run. Such products will give advertisers an opportunity to reach their target audiences more predictably and efficiently.” <keyword id="3148434" type="PERSON" weightage="20" keywordseo="Ashit-Kukian">Ashit Kukian</keyword>, CEO, Radio City <div type="image" title="Mr. Ashit Kukian, CEO, Radio City" msid="80041566" hostid="261"></div> Radio has always been one of the most trusted and reliable media, more so in this year. We saw an increase in listenership during the lockdown, contrary to the belief that the consumption would dip as people stopped traveling. A trend we noticed this year and forecast for 2021 would be growth in radio, in terms of listenership and business from the Tier2 and Tier 3 markets. With increase in 5G penetrationand consumption shiftby brands to advertise more in Tier 2 &amp; Tier 3 markets. Categories like e-commerce, OTT platforms , FMCG &amp; Retail would like to leverage these markets. Due to radio's reach and accessibility, these brands will look at advertising their messaging on radio to leverage a wider audience. Also, radio is one of the most effective medium that disseminates credible content and any brand in the current situation wants to be associated with a medium that communicates their message in a positive manner. This will in turn help the radio industry increase its revenue and eventually come out of the woods stronger.

Radio: Trends to watch out for in 2021

<ul><li><keyword id="31174" type="PERSON" weightage="20" keywordseo="brands">Brands</keyword> have seen early signs of recovery during <keyword id="126295" type="ORGANIZATION" weightage="20" keywordseo="Akshaya-Tritiya">Akshaya Tritiya</keyword> and <keyword id="6385850" type="UNKNOWN" weightage="20" keywordseo="Raksha-Bandhan">Raksha Bandhan</keyword> and their businesses are approaching normalcy. </li><li>After surviving the storm during the lockdown, brands have a lot of hope resting on the festive season to bring in cheer and profitability in their businesses. </li><li>With Ganesh Chaturthi around the corner, we decided to speak to a few brands across categories on how they are preparing for the festive season and what kind of expectations they have pinned on the latter half of the year for recovery. </li></ul>Brands are pinning a lot of hopes on the festive season this year to help them bounce back. They have started working on their advertising campaigns in full swing to win back consumer trust and help shape the <keyword id="29547" type="PERSON" weightage="20" keywordseo="Market">market</keyword> sentiment. The festive season, which begins in August and continues till January, often results in a disproportionate increase in demand of goods and services, marking an important period for most consumer brands. However, the pandemic this year has made consumers frugal and the current market unrest has taken a sharp toll on the total spends. As per Madison’s report, AdEx collapsed by as much as 65% because of COVID-19 in Q2, indicating how badly the economy has been performing so far. Last year for Television, the Indian Premier League (IPL), ICC World Cup and Elections in Q2’19 contributed around Rs 3,000 crore (34% to the TV AdEx in Q2’19). However, the pandemic removed both these money-spinners from the AMJ quarter this year, which has added to the decline. This year, brands are trying to come up with innovative solutions to reach out to their consumers at their door steps and are optimistic about seeing a stable growth in the next few months. Fashion e-commerce giant Myntra has seen early signs of recovery and <keyword id="1549018" type="PERSON" weightage="20" keywordseo="consumer-sentiments">consumer sentiments</keyword> picking up during Raksha Bandhan as it witnessed a surge in demand for women's ethnic wear, men’s occasion wear, kids wear, and accessories such as watches, handbags. It also saw 3.5 million customers shopping during the June edition of EORS, a testimony of how consumer sentiments are getting back on track. “The festive season, followed by winter, is the most exciting quarter for Myntra. This year we are expecting a massive scale and growth in festive buying as consumer sentiment continues to be strong. Myntra is already operating at a pre-lockdown scale, and this upcoming festive season will definitely help us in boosting our growth further. Our focus will continue to be on enhancing customer experience by providing high-quality merchandise in a curated and personalized store, along with safe and fast delivery. Our new customer acquisition is at an all-time high and we are ensuring we help them in all their lifestyle needs. We are witnessing a spike in our Tier II and Tier III customers and orders as well,” said Ayyappan Rajagopal, Head of Business, Myntra. Another new-age brand Melorra that specializes in modern jewellery, has managed to avoid the losses incurred by various other businesses during the pandemic months. It saw a 400% growth in the last financial year, and is confident of matching that level of growth with a strong performance in the upcoming festive season. “The festive season this year is expected to be even more impactful than the past for Melorra. Firstly, the lockdown that started in March slowed down the jewellery purchase due to disruption in the delivery logistics, and most of the people are looking to buy jewellery now that the deliveries have resumed. Given the pandemic, all festivities in the first 2 quarters of the FY was a washout, hence there could be a trend reversal during festive season – but not at the previous levels. Since the prices are also at an all-time high, customers would opt for lightweight and trendy gold jewellery that is not only stylish but also easy on the pocket. Melorra caters to women who live in the moment and do not keep gold stacked away in lockers like before. Hence, it is definitely a key period for the brand and the jewellery industry at large,” said Sharat Krishnan, Head of Marketing, Melorra. The festive season has always been the most important part of the year for the jewellery business. Titan has already seen 80% recovery because people are celebrating their milestones with their families at home. It has a campaign and launch of a new collection lined up for October. Ajoy Chawla, CEO Jewellery Division, Titan Company Ltd sees no reason why the festive season shouldn’t be as good as last year. “It would be as good as last year or slightly lesser. The most optimistic expectation is that it should be as good as last year. Even if it is 90% or 80% close to last year’s performance, that’s good. We’re currently seeing 80% recovery and this is my best estimate. We’ve seen this recovery because people are still celebrating milestones like anniversary, birthdays, etc. They understand that the reality is grim but how long can you keep your life on hold? They want to feel good. Also, Q3 is wedding season but the festive season is delayed this year so the season may start a little slower unless there are massive rebound cases. Some markets also take two steps forward and three steps back, there is always some fluctuation. However, after October, we are hoping to see more stability. We will also launch a new collection and campaign around October,” shared Ajoy Chawla, CEO Jewellery Division, Titan Company Ltd. On what the consumer sentiment would likely be this festive season, Nidhi Sinha, Head of Content, Mintel India said, "One of the most important things people are looking forward to once the restrictions of the pandemic are lifted is meeting friends and family. However, according to research from Mintel’s Global COVID-19 Tracker in August, 42% of Indian consumers are looking forward to meeting family and friends in person compared to 34% of consumers in early July. This desire has accelerated due to the onset of the festive season." Mintel's research data indicates that consumer sentiment is improving and there is more willingness to spend on luxury items and good brands in the market. Sinha added, "Ganesh Chaturthi, which is round the corner, would be one such important festival that would entail celebrations in a different way so as to be in line with the pandemic protocols. As people continue to be under restrictions due to the pandemic, this festival is expected to be low key compared to regular times. However, Mintel research highlights that 30% of Indian consumers are planning to spend more on clothes and accessories, presenting an opportunity for brands. This is indicative that people are planning to spend on indulgences despite a negative economic outlook. Brands like Gemini oil, Ferns and Petals and Cadbury have been very agile in talking about the changing face of the festivities and how it is an opportunity for people to spend such festivals at home with their loved ones.” Festive season is an important period for the retail industry. It is a time when consumer spending is at an all-time high. One of the leading sportswear brands PUMA has multiple new launches planned throughout the season to cater to increasing demand. Telling us how the consumer sentiment changed in retail, Abhishek Ganguly, General Manager, PUMA India and Southeast Asia said, “As we’re witnessing right now, online channels will continue to be a convenient option for consumers to shop. Given the precautions around health and safety, we are seeing people shop online or go to a store where they are confident about the hygiene measures being implemented. Having said that, as lockdown continues to be relaxed across the country, we are seeing a steady week-on-week increase in footfalls with consumers visiting our stores to buy fashion essentials.” On festive expectations, Ganguly added, “Over the last 3-4 months, we have been seeing steady growth across both our offline and online channels. The conversions have increased substantially from pre-Covid times as people exactly know what they want to buy and are shopping with a clear intent. Given the trend of how things are continuing to improve compared to the previous months, we are very hopeful of a strong September and October. We hope this trend continues through the festive season and beyond.” Electronics giant Philips has launched a few new products like Smart Hair Dryer, Eyebrows Trimmer this month to ride on the improving consumer sentiment due to the festive season. Gulbahar Taurani, Vice-President, Personal Health, Philips Indian Subcontinent, Philips India, said, “The trends indicate that this is going to be a good season. We will have our challenges in terms of supply chain, partial lockdown, movement of products because the number of COVID cases are going up. From a demand standpoint, we see a very positive sentiment. I believe that this is going to stay, which will drive the festive season. As a part of the festive season, we had a couple of new launches last month itself.” The furniture segment, which was on complete halt during the lockdown as it did not fall under essentials, is also gearing up for the festive months. Given that individuals are spending more time at home due to the lockdown, home-grown brand Pepperfry witnessed an uptick in demand for WFH furniture and décor. In fact, Pepperfry is already at 100% of its pre-lockdown sales volumes. Kashyap Vadapalli, Chief Marketing Officer &amp; Business Head, Pepperfry is now anticipating to see this trend boost their sales further as people continue to focus on making their home spaces better equipped for everything. The brand is upping its digital media game and has launched a new campaign called ‘Swadeshi is Great’. “Given that household products and celebrations at home play such an important role during the festive season, consumers are constantly looking to revamp/renovate the space such that the home category witnesses a natural upswing in demand during festivals. With this combination of consumer adaptation and brand innovation, we are positive about the consumers’ outlook and demand for categories like home décor and furniture. As consumers have become apprehensive with regards to shopping offline or even stepping outside, they are increasingly adapting to buying online. Our online business is already at 120% of pre-COVID levels. As we move along, we plan to keep innovating with digital tools to enhance our consumers’ buying experiences,” said Vadapalli. The sudden outbreak of the pandemic brought a lot of businesses to a standstill. However, one of the few sectors that have seen an upturn amid the nationwide lockdown is EdTech. Now, to evolve with changing times and to prepare for the upcoming festive season, upGrad is looking at altering its marketing strategy. It is shifting its spends towards TV as consumers would want to spend more time together, while supplementing it with digital. Telling us what kind of changes EdTech has gone through lately, Arjun Mohan, CEO-India, upGrad said, “Given the current scenario, consumer priorities are being re-calibrated. They are now undergoing a behavioral shift which is directly reflecting on their spends. Unlike earlier, individuals today have ample time and money to spend on upskilling options, which otherwise, was parked for a later date. upGrad has seen a big behavioral shift in the mindset of parents too towards learning online, as they have seen their kids benefiting from it in real-time. This is one of the major drivers that has created a massive demand for our specialised online programs, which not only enhances the domain knowledge, revise skill sets, etc. but also help professionals achieve desired career outcomes.” All brands voiced their confidence that the worst has passed, and the markets will only move towards normalcy hereon.

Festive Marketing: Brands are optimistic that improving consumer sentiments will help them bounce back and bring in profitability

<ul><li>The <keyword id="4317233" type="COMPANY" weightage="20" keywordseo="Indian-Media-and-Entertainment">Indian Media and Entertainment</keyword> (M&amp;E) sector reached Rs 1.82 trillion (US$25.7 billion) in 2019. </li><li>Digital subscription revenues more than doubled from 2018 levels and digital advertising revenues grew to command 24% of total advertising spend.</li><li>Digital media overtook filmed entertainment in 2019 to become the third largest segment of the M&amp;E sector.</li><li>While the exact impact of Coronavirus is not yet known, if the current state of lockdown continues for over a month, the sector could be looking at flat growth. A 3-month lockdown could lead to a de-growth of 25%.</li></ul>The Indian Media and Entertainment (M&amp;E) sector reached Rs 1.82 trillion (US$25.7 billion) in 2019, a growth of 9% over 2018 states the <keyword id="6355001" type="ORGANIZATION" weightage="20" keywordseo="ficci">FICCI</keyword> EY report ‘The era of consumer A.R.T. – Acquisition Retention and Transaction,’ launched today. With its current trajectory, the M&amp;E sector in India is expected to cross Rs 2.4 trillion (US$34 billion) by 2022, at a CAGR of 10%. However, FICCI and EY clarified that the findings of this report had not taken into consideration the rapidly evolving impact of Covid-19 on the industry. While television and print retained their positions as the two largest segments, digital media overtook filmed entertainment in 2019 to become the third largest segment of the M&amp;E sector. Digital subscription revenues more than doubled from 2018 levels and digital advertising revenues grew to command 24% of total advertising spend. The sector continues to grow at a rate faster than the GDP, driven primarily by growth in subscription-based business models and India’s attractiveness as a content production and post production destination. The rapid proliferation of mobile access is enabling on-demand, anytime-anywhere content consumption nationwide. With a population of 1.3 billion, a tele-density approaching 89% of households, 688 million internet subscribers and nearly 400 million smartphone users, India’s telecom industry is poised to become the primary platform for content distribution and consumption. India ranks as one of the fastest-growing app markets globally, where entertainment apps are driving significant consumer engagement. Online gaming retained its position as the fastest growing segment on the back of transaction-based games mainly fantasy sports, increased in-app purchases and a 31% growth in the number of online gamers to reach around 365 million. <keyword id="105547" type="PERSON" weightage="20" keywordseo="Uday-Shankar">Uday Shankar</keyword>, Vice President, FICCI and Chair, FICCI Media and Entertainment Division, said, “Riding the wave of exponential progress made towards digital accessibility and adoption, the M&amp;E industry has been a forerunner of a dynamic and aspirational India. New products and business models are being imagined to capitalize on the rise in media consumption. Global players are recognizing the need to build India-centric offerings. The coming years are likely to usher in greater innovation in content formats, means of dissemination, and business models.” <keyword id="263905" type="PERSON" weightage="20" keywordseo="Ashish-Pherwani">Ashish Pherwani</keyword>, Partner and Media &amp; Entertainment Leader, <keyword id="1919178" type="LOCATION" weightage="20" keywordseo="EY-India">EY India</keyword>, stated, “The M&amp;E sector witnessed a surge in content consumption as digital infrastructure, quantum of content produced and per-capita income increased in 2019. Driven by the ability to create direct-to-customer relationships, the sector firmly pivoted towards a B2C operating model, changing the way it measured itself. As entertainment and information options grew and choice increased the era of consumer Acquisition, Retention and Transaction (ART) redefined the media value chain leading to the emergence of many new trends and strategies across content, distribution, consumption and monetization.” “The Coronavirus outbreak will have a significant adverse impact on the sector, the situation is still evolving both in India and many parts of the world, the scale of the impact cannot be estimated immediately,” he added. He further stated that if the lockdown goes beyond a month, the M&amp;E sector can expect a flat growth. Moreover, if the lockdown is extended to 3 months, it could lead to a de-growth of 25% for the sector. Key findings: Television: The TV industry grew from Rs 740 billion to Rs 788 billion in 2019, a growth of 6.5%. TV advertising grew 5% to Rs 320 billion while subscription grew 7% to Rs 468 billion. Regional channels benefited from the New Tariff Order as their consumption increased by over 20% in certain cases. General entertainment and movie channels led with 74% of viewership. On the back of several key announcements by the central and state governments such as Article 370, the Citizenship Amendment Act, and a general election, the news genre witnessed a growth to almost 9% of total viewership, up from 7.3% in 2018. In sports cricket emerged as the big winner in 2019 as it accounted for over 80% of the sports viewership, up from 70% last year, due to the ICC World Cup. Key insights - Television will remain the largest earner of advertising revenues even in 2025, approaching Rs 570 billion. Viewership of regional language channels will continue to grow and reach 55% of total viewership in India as their content quality improves further. Content viewed on smart TV sets will begin to reflect that consumed on mobile phones, providing a window for user generated content companies and other non-broadcasters to serve content on the connected television screen. Print: Despite a 3% revenue de-growth at Rs 296 billion, print continued to retain the second largest share of the Indian M&amp;E sector. Circulation revenues increased by 2% to Rs 90 billion as newspaper companies tactically increased prices in certain markets. Advertising revenues fell 5% to Rs 206 billion in 2019 as AdEX volumes fell by 8%. Margins improved as newsprint cost measures were implemented and companies benefited from the reduction of newsprint prices. Key insights – 2019 witnessed a significant growth in digital news consumers over 2018 when 300 million Indians consumed news online. Most large print companies had a defined digital business, with two companies crossing Rs 1 billion in digital revenues. Digital subscription, though nascent, has increased as several publications have put digital products behind a paywall. Digital media: In 2019, digital media grew 31% to reach Rs 221 billion and is expected to grow at 23% CAGR to reach Rs 414 billion by 2022. Digital advertising grew 24% to Rs 192 billion driven by increased consumption of content on digital platforms and marketeers’ preference to measure performance. SME and long tail advertisers increased their spends on digital media as well.Pay digital subscribers crossed 10 million for the first time as sports and other premium content were put behind a paywall.Consequently, subscription revenue grew 106% to Rs 29 billion. Digital consumption grew across platforms where video viewers increased by 16%, audio streamers by 33% and news consumers by 22%. Key insights: By 2020, OTT subscription market will approximate 10% of the total TV subscription market (without, however, considering data charges).We estimate over 40 million connected TVs by 2025, which will provide a huge opportunity for content creators to reach family consumers.Better bandwidth will drive large screen consumption. By 2025, 750 million smart phone screens will also increase the demand for regional, UGC and short content, creating a short video ecosystem that can create significant employment.The battle for content discovery will intensity and move to the unified interface. Films: The Indian film segment grew 10% in 2019 to reach Rs 191 billion driven by the growth in domestic theatrical revenues and both rates and volume of digital/ OTT rights sold. Domestic film revenues crossed Rs 115 billion with Gross Box Office collections for Hindi films at RS 49.5 billion – the highest ever for Hindi theatricals. Overseas theatricals revenues fell 10% to Rs 27 billion despite more films being released abroad primarily as films with superstars didn’t perform as well in 2019. 108 Hollywood films were released in 2019 as compared to 98 in 2018. The gross box office collections of Hollywood films in India (inclusive of all their Indian language dubbed versions) grew 33% to reach Rs 16 billion. As single screens continued to reduce, the total screen count decreased by 74 to 9,527. Key Insights: Digital rights continued to grow in 2019 with an increase in revenues from Rs 13.5 billion in 2018 to RS 19 billion in 2019. Digital release windows shortened with some movies releasing on OTT platforms even before their release on television. In-cinema advertising grew marginally to RS 7.7 billion in 2019 as multiplexes and advertising aggregators started signing long-term deals with brands. Seventeen hindi films entered the coveted RS 100 crore club in 2019, which is the highest ever. Interestingly, six movies made it to the Rs 200 crore club in 2019, as opposed to three in 2018. The future will be driven by immersive content (technology and VFX rich) experiences to drive theatrical footfalls and some genres of films could migrate to home viewership only.We can expect to see creation of a segmented Hindi-mass product for the heartland at low ticket prices.

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