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<ul><li>While demand had come to a standstill during the first few months of the lockdown, things are slowly starting to look up for the <keyword id="35288" type="PERSON" weightage="20" keywordseo="real-estate-market">real estate market</keyword>. </li><li><keyword id="9815836" type="PERSON" weightage="20" keywordseo="raunika-malhotra">Raunika Malhotra</keyword>, President Corporate Brand and Communication, <keyword id="46877" type="COMPANY" weightage="20" keywordseo="Lodha-group">Lodha Group</keyword> tells us that the pandemic has made everyone realize the importance of owning a home and the security that it provides to one self and family.</li><li>Moreover, the changed behavior towards tenants vis-a-vis home owners by residents in various housing societies has accelerated the sense of owning home amongst millennials, Malhotra shares.</li></ul> Like almost every other sector, real estate has been massively impacted by the Covid-19 induced lockdown this year. There had been a complete halt of construction which had brought sales to a complete standstill. However, with the lockdown gradually being lifted across the country, things might soon start to look up. Also, the last few months have led to a lot of changes in consumer behavior. While many had initially thought people will become more frugal when it comes to big purchases during these times, people in the real estate segment are seeing demand coming back. Moreover, with people spending more time at home now, there has been an increase in the desire to own a house. Also, the changed behavior towards tenants vis-a-vis home owners by residents in various housing societies accelerated the sense of owning home amongst millennials. We recently caught up with Raunika Malhotra, President Corporate Brand and Communication, Lodha Group who told us that the younger population is eager to own houses and that according to a survey by the real estate player, close to 59% of home-seekers planning to buy a home in the next year are millennials. She further deep-dives into emerging trends from the real estate segment and tells us what the industry in the near future will look like. Excerpts: Q) How have the last few months been for Lodha? As things are gradually opening up, what kind of enquiries are you receiving? The pandemic has made everyone realize the importance of owning a home and the security that it provides to one self and family. The RBI announcements on the moratorium and the lowest-ever interest rate for home loans have been a much-aided benefit. There has been an increasing ask for ready-to-move-in properties across affordable and mid-price segments. People now look forward to live in quality developments with integrated facilities providing more open spaces. We have observed an increased desirability for decks and well-managed safety and security services in most segments of home buyers. Q) Have you been able to sell any units in the past few weeks? In terms of sales, how do you expect the rest of the year to pan out? Do you think people will invest on houses or be more thrifty and push it to when things become better? As the largest real estate player in India over 7 years, Lodha has continuously been in touch with its customers and aimed at meeting customer requirements. A recent industry report on ‘Consumer Sentiment Survey’ states that 54% of survey participants consider this an ideal time to make a property purchase. We further realized that we should cater to the consumers' concerns and, hence designed the ‘ApnaGhar, ApnaDesh’ campaign strategizing on a consumer-centric approach. Further fulfilling the dream of potential home seekers, the initiative was designed wherein home seekers only need to do the upfront payment of Rs 1.98 lakh and get a lowest-ever interest of 5.99% and contribute to nation building. Under the purview of the campaign, Lodha sold 1800 units from March 19, 2020, till June end. Q) How different will things be for you as a player now, considering buying of a house has a very physical element to it, when people want to visit the houses? How are you going to do things differently now? Home-buyers have always preferred homes by reputed developers who can provide quality development, assure timely delivery, and understand consumer requirements even during the changing times. Over a period of 7 years, Lodha has clocked Rs 50,000 crore sales across an area of 57.0 million Sq. ft. Along with providing a good quality home, our brand is focused on giving home-buyers an all-round ecosystem with essential amenities in order to build a better life, making us one of the world’s finest developers. The consumers’ need for residing in better quality living developments remain strong despite the pandemic. However, with the changing times and the new normal, they are now more open to engaging digitally and are adapting to new digital tools/mediums. As a leading real estate developer, it is important to provide our customers the same hassle-free experience irrespective of the alterations. We have observed a growing desire towards home-ownership, and with Lodha understanding and catering to the changing needs, the company has developed an extra edge towards meeting consumer demands. Q) In the post-Covid world, do you expect AR/VR/virtual tours to become an even more important tool in the entire consumer journey when it comes to real estate? Are you already investing in the technology? With the changing norms, digital interface will increase but all mediums are here to co-exist. In a home-buying experience, the touch &amp; feel aspect is important and there will be site visits, but engagement will happen digitally. Q) You recently came out with a campaign featuring <keyword id="2823" type="PERSON" weightage="20" keywordseo="Akshay-Kumar">Akshay Kumar</keyword>. What was the thought behind it and what kind of reception has it received? The ideation behind the ‘ApnaGharApnaDesh’ campaign entails two components: ‘ApnaGhar’ – which highlights the importance of owning a home and ‘ApnaDesh’ – which highlights the contribution of real estate sector in re-building the nation. The ad campaign’s objective was to invigorate the sentiment of home-ownership as the pandemic has very well instilled the realization among individuals regarding home being a safe haven. Another primary driver to launch the campaign was the findings of the market research conducted during the lockdown that showed increased desirability of owning a home amongst individuals. Having a good quality home in a well-maintained development with good amenities and infrastructure has become increasingly important as people are spending more time at home due to the lockdown and the prevalent work from home (WFH) scenario. Banking on well execution of the idea, the campaign has been very successful considering that over 1000 homes were sold during the lockdown. Under the campaign banner, Lodha organically reached out to 10 million people and engaged with 1.5 million people through social media organically. The campaign also aimed at contributing to nation building, which was critical during the pandemic – an interesting stat being 25% of every home buying spend goes to the government. Besides, the real estate industry contributes about 5% to the country’s GDP, clearly indicating that reviving the sector means the revival of the national economy. Buying a home provides jobs and thereby income to 10 workers for a year - thus, the campaign’s main objective was to convey that when one purchases a Lodha home, it ensures security and well-being for himself/herself and instills a sense of pride for being able to contribute towards rebuilding the nation. Q) How is your marketing strategy going to be different in the post-Covid world? Will there be an increase in your marketing spends for the rest of the year? Being a consumer-centric brand, it is extremely essential to understand the preferences of consumers and stay in tandem with shifting behavioral patterns. With an in-depth understanding of the consumer demand shift, the brand will continue to provide innovative solutions, where home-buyers will find the confidence to transact considering our delivery and quality. Further upgrading the home-buying experience, we will ensure safety and security by providing new digital tools to build a robust digital consumer journey with a higher focus on maximizing ROI. Q) Have you witnessed any interesting consumer behaviour trends during the lockdown and post? Lodha did a ‘Homebuyers Preferences Survey’ with active home seekers in the Mumbai MMR region that highlighted some major changing consumer trends. A remarkable trend observed is 63% of active home seekers in the Mumbai MMR region prefer buying ready-to-move-in homes. 80% of the survey respondents who preferred ready homes agreed that they get to see what they buy. Also, 59% of the home-seekers who plan to buy a home in the next year are millennials, clearly indicating the re-modeled millennial mindset. Another striking observation from a twitter poll conducted by uswas the increased desirability among individuals for more open spaces within and outside their living area. 91.9% of participants have showed preference towards decks/balconies in their houses whereas 82% have showed an affinity towards outdoor spaces like gardens and sports complexes. The poll results also highlighted the growing need for staying in self-sustaining developments and also inclusion of a staff quarter in the homes. Lodha has always aimed at staying ahead of the curve and has been a forerunner in incorporating all the requirements across its projects. Q) What have your learnings from the lockdown experience been? With the new work-from-home culture and the Covid-19 induced lockdown, people have started staying indoors and spending more time with family. The essence of having a safe place to stay inside during crisis situations has raised the desire for owning a home. The changed behavior towards tenants vis-a-vis home owners by residents in various housing societies accelerated the sense of owning home amongst millennials, who recently started viewing real estate as a means of asset creation. Insights from Lodha’s recent ‘Homebuyer Preference S<a name="_GoBack"></a>urvey’ also indicate that 59% of the home-seekers who plan to buy a home within the next year are millennials. Understanding what the consumers are looking for and then rationally implementing the insights in the product offering has become even more critical during these unprecedented times. Buying a home is one of the most important decisions or maybe a lifetime decision for consumers, and compassionately understanding their preferences well and then making that dream home come true along with apropos value additions is what the company thrives at and is a continued mantra for all of us at Lodha.

Our survey shows that 59% of home-seekers planning to buy a home within next year are millennials: Raunika Malhotra, Lodha Group

<ul><li>Marketing has always been about understanding how a consumer reacts to certain triggers and how brands can use that to influence them.</li><li>After the year 2020 turned the marketing world upside down, brands and businesses of all sizes had to reimagine their communication strategies and evolve with the rapidly changing times.</li><li>Brands started offering a helping hand to consumers by leveraging their social media presence to either amplify citizens’ SoS for ICU beds or to spread awareness around vaccination registration.</li><li>In 2021, the focus shifted primarily to digital channels owing to the pandemic.</li><li>As we enter a new year with a lot of hope and optimism for the future, we speak to a few brands to discuss how the pandemic impacted their marketing activities and what the future holds for marketing.</li></ul>After months of multiple nationwide lockdowns in 2020 and living and working in isolation, the Indian <keyword id="11095746" type="General" weightage="20" keywordseo="marketing-ecosystem" source="Orion">marketing ecosystem</keyword> started preparing for a new future. Brands decided to pause, reflect, rework their strategies and most importantly, prioritise consumer interest. They focused on creating more enhanced consumer experiences online as we all waited to physically get back to our ‘normal’ lives. A few brands decided to reach out to people who were crying for help and many brands swallowed their pride, kept aside fierce rivalry and started uplifting their competitors in social media posts instead -- even burger and cola wars stopped. Consumers started yearning for stories that uplift and inspire them to keep going in the otherwise gloomy times. There was a new-found appreciation for empathetic advertising and nostalgia marketing in the brandverse, which continued in 2021. Brands delivered some hope and delight with every post and advertisement. They also started speaking one-on-one with their consumers across social media channels more than ever and delivered on what is asked of them because GenZ and Millennials are quick to call out unconnected brand purposes. Brands also moved along with the great digital migration of consumers and expanded their digital presence. They also factored in the massive economic upheavals due to the pandemic and offered value-based deals. They engaged with consumers on smart devices and interfaces across the home, expanded their media mix to include virtual reality, video conferencing platforms and video gaming platforms. This year’s Ipsos and Tetra Pak report found that the personal, economic and environmental fragility experienced during the global pandemic has created a shift from more passive concern to active caretaking -- driven by the desire to protect ourselves, our communities and the security of the planet. People are being more proactive in making the right purchases – for their own wellbeing and for the environment around them. This includes dietary choices and recycling more and reducing waste. As a result, we have seen more eco-friendly product and packaging launches this year. The concern for the environment will only grow stronger and brands will be expected to align themselves with a larger purpose. With a new-found appreciation for life and altered perspectives towards marketing, we reached out to Indian brands from different sectors to find out what are some of the trends that they expect to see in 2022. Here is what they said: Pankaj Sharma, Director – Consumer Products Division, L’Oréal India: Indian beauty consumers have become more discerning as they move between online + offline buying and experiencing paradigms. And in this journey, eCommerce will continue to play a big role in driving beauty in India. It has created more opportunities for consumer experience and demand fulfillment. The initiatives like live streaming, e-BAs, Video-Content on DIY have enabled new touchpoints. This has allowed more specific media and activation plans for each region, depending on the festive peaks. For example, at L’Oréal India, we used Insta-Festive as one of our umbrella themes and could do insta-diwali, insta-pujo, insta-karwa, insta-onam as activation points to engage with consumers on e-commerce and digital with the power of data. Apart from targeting festive occasions, we are moving towards occasion-led purchases, celebrating personal milestones of life. Hence beauty brands are sending out relevant brand communications throughout the year, with the same rigor, as one would have done during the festive season before. The festive season, however, still sees an uptick in purchases and offers a variety of formats to give consumers what they’re seeking. Raunika Malhotra, President - Marketing &amp; Corporate Communications, Lodha: In the coming year, I see stakeholder marketing becoming increasingly relevant. It essentially means working towards creating value for all stakeholders that include customers, employees, vendors, communities, natural capital, cities, etc. The other trend that we will witness is the increased use of analytics and data scientists in marketing communication and performance. Lastly, the pandemic has made people more conscious of the community and the environment at large. They are looking to engage with brands with shared values of doing good for the society and the planet. Abhishek Shahabadi, Vice President &amp; Portfolio Head, Scotch and Premium Whites Diageo India: There’s been good momentum on Diageo India brands in 2021, despite operational challenges due to pandemic led restrictions. This is attributed to the growing trend of ‘at-home drinking’. The off-trade salience increased to 88% compared to 73% in the pre-pandemic phase, as individuals were constrained to more intimate drinking occasions at home. We see at-home drinking as a strong trend coupled with the growth of outdoor experiences in 2022 as the market opens. Keeping this in mind, Diageo India continues to strengthen its in-home play through off-trade and digital along with influencer engagement to embrace ways to make at-home drinking experiences more enjoyable. Arnab Roy, Vice President, Marketing, Coca-Cola India &amp; Southwest Asia: While this year has tested the thinking and resilience of brands worldwide, going forward, we hope that the pandemic continues to regress and we get the real magic back into our lives. As people step out of their homes more often, they will be looking out for more real activities like watching blockbusters at multiplexes, visiting their favourite food “gullies” and travelling more frequently with their loved ones. Post COVID we are also seeing a trend where people are more experimentative and open to new genres of music, food, sports and entertainment. It is thus imperative for brands to deliver integrated experiences at a global scale with the agility, speed and data-driven insights that are required to win locally. Ramesh Kalyanaraman, Executive Director – Kalyan Jewellers: Gold has always been a preferred consumption item for Indians and in the post COVID-19 era, it has also emerged as one of the safer and more lucrative long-term assets. The dynamic market scenario and uncertainty caused by the COVID-19 pandemic led to renewed interest from younger consumers who bought into the idea of gold jewellery, for the first time. Today’s young consumers or millennials consider jewellery as a fashion statement and a style symbol that will go with their sensibilities and help them showcase their true self. Because of this, it has become increasingly critical for jewellery companies to keep up with newer trends and address the changing sensibilities and consumer preferences in this ever-evolving business environment. To address the ongoing digital transformation in India’s jewellery industry, we are focusing on creating a holistic ecosystem, strengthening our omnichannel strategy and making the ‘phygital’ model more seamless. Over the past few years, we have been making consistent investments in developing and leveraging technology to offer convenient solutions to customers for purchasing jewellery or investing in gold. As a result of this, we were well-positioned to adapt to this digital transformation and ventured into newer product categories such as Digital Gold as well as explored newer avenues to reach our customers by introducing services such as Gold Ownership Certificate and LIVE Video Shopping facility, which allowed customers to browse through and purchase jewellery at the comfort of their homes. One of the biggest trends that have emerged out of the nationwide lockdown is an enormous increase in the screen time spent by Indians across digital platforms. In line with this, brands have aligned their marketing budgets towards digital, social media &amp; OTT, especially for including new content. Following this, we have introduced temporary changes to our media mix with a more digital-centric approach, which is a key to making the most during this quarter. With 2022 around the corner, we aim to continue moving forward on this growth trajectory and register consistent growth while widening our consumer base. Kartik Johari, Vice President - Marketing &amp; Commerce, Nobel Hygiene: 2022 will be the golden year for great marketeers, as content will reign supreme. We are drowning in a glut of content, be it 10 sec Reels, to full-blown documentaries. Consumers on the other hand are oscillating between anxiety, fright and boredom. The challenge is up to us, to create content that can engage, reassure, add value and be honest. It is so important to keep a track of how many people the content reaches, who engages, and what they say. We have never had so much data on our interactions and it is time we start using data better! It should be an interesting year for strong brand teams. Ketan Kulkarni, Chief Commercial Officer, Blue Dart: The world has acclimatized to the ‘new normal’ and what seemed to be the most challenging obstacle of 2020, has now enabled us to prepare for any unprecedented events that could cause business disruptions in the future. A major factor in actualizing this is agility driven by technology and automation. The role of logistics has been highlighted over the last two years given our industry’s essential service status and this has only been possible because of the technology-based solutions adopted by resilient players. 2022 will definitely see an enhancement in the ‘Technology-led transformation’ that we are witnessing today. Digitalization across the supply chain from first mile to last mile is the future of the industry; technology enabling near-autonomous facilities, robotics, drone-delivery systems, and 3D/additive manufacturing are going to be adopted very quickly. The reason is, in the event of another unprecedented crisis, organizations would want to ensure ‘business-as-usual’ to cause minimal business disruptions. The underlying theme of 2022 would revolve around creating business models that will survive in a ‘less-contact’ society. Amrinder Singh, Director, Bonn Group of Industries: It's been a fantastic year of change and recovery for both consumers and businesses. Consumers prioritised their safety while dealing with illness, job loss, lack of available products and services. Anticipating change and adapting for future challenges accordingly can help enterprises see around corners and plan effectively for the post-pandemic consumer. Businesses are riding on the pandemic-accelerated digital transformation wave and the trend is likely to continue. Around 80% of companies are allocating resources to improving their e-commerce and shopping platforms. This includes a full 60% investment in their digital direct-to-customer (DTC) channels. The digital shift also includes transforming internal capabilities and creating efficiencies with the help of technology. The future of retail will be omnichannel shopping or phygital retail. New technologies will continue to transform the retail sector with rapid change and innovation. Retail consumers will expect frictionless and tech-enabled experiences. As retailers and manufacturers embrace a direct-to-consumer model through e-commerce, traditional marketing channels will continue to blur. Satish NS, Senior Vice President, Sales and Marketing, Haier Appliances India: Today, hyper-personalization is inevitable for brands to get closer to their consumers. More than ever before, brands need to work on identifying and nurturing relevant cohorts for the business and reach out to them with tailored content that strikes an instant connection between the brand and its consumers. Since digital gives us the liberty to phenomenally reduce the distance between a brand and its customers, it’s important to create critical touchpoints along the consumer journey that will enable a more immersive brand experience with a 360-degree approach. Moreover, leveraging creative strategies on digital to deliver business impact will continue to become even more important in the coming years. Next year, we will also see an uptick in brands that will be experimenting big with performance marketing tools to help drive better ROI for the business. Manish Bandlish, Managing Director, Mother Dairy Fruit &amp; Vegetable Pvt. Ltd: The year 2021 was yet again a dynamic year however, the revival has been remarkable for us at Mother Dairy. Preparedness coupled with collaboration, resilience and agility played a vital role in the pandemic stressed quarter of this year, to ensure wellbeing of each and every employee as well as business continuity in order to serve our consumers. The year saw new products, markets and experiences, both for the business as well as the consumers. Despite the happenings, this year saw consistent supplies as varied channels such as e-commerce continued big-time. In addition, the consumption trend of consumers which began witnessing a change last year are persistent this year as well with in-home consumption and preference for packaged foods going strong.

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Our survey shows that 59% of home-seekers planning to buy a home within next year are millennials: Raunika Malhotra, Lodha Group

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