35 pc Consumers Likely to Increase their Spend this Diwali

67 percent of all consumer will research more this festive season than last year, owing to the uncertain macro-economic environment
35 pc Consumers Likely to Increase their Spend this Diwali

With digital likely to play a key role among 75 percent of all consumer journeys this festive season, it is becoming more complex and non-linear.

While consumer sentiment remains positive this festive season with 35 percent of consumers likely to increase their festive spending from last year, the uncertain macro-economic environment is leading to consumers being more cautious before spending. As a result, 67 percent of all consumers will research more this festive season than last year, says Winning the 2022 Festive Season with Optimal Media Strategies playbook by MMA India, along with WPP’s GroupM and Amazon Ads.

“For brands, digital has evolved into an essential marketing touchpoint. To influence consumer behavior, marketers need to create full funnel strategies across active and passive stages of the purchase cycle. Understanding digital consumers will become increasingly important for marketers – especially, in-market segments during festival seasons,” says Tushar Vyas, President, Growth and Transformation-GroupM South Asia.

Vyas believes consumers and their purchase patterns have become more complex today, and digital is playing a larger role throughout this journey.

The playbook further revealed that most marketers are increasing their spending on digital with a median of 40 percent. Digital mediums are going to have a key role in the decision-making with 70 percent of consumers planning to research online, and 66 percent of consumer journeys will involve Amazon.

The report shows that brands need to engage with the audience by using high–intent audience signals and should use a mix of various formats across the entire consumer journey. Marketers should leverage ‘efficiency’ metrics to enrich performance which will help them in understanding the true impact of their strategy.

“Digital media is fuelling depth and width in the consumer journey like never before. For marketers, this presents the opportunity to be at the “right place at the right time” by enabling the identification and engagement of high-intent consumers across the most critical touchpoints,” Vijay Iyer, Director Ad Sales, Amazon Ads, India.

“These are interesting times wherein the consumer showcases non-linear complex purchase patterns hence would be key to observe how this festive season unfolds for businesses in this season,” said For Moneka Khurana, Country Head and Board Member, MMA India.

She further adds that the handbook is sure to help brands navigate the challenging times and drive optimal visibility and performance which unveils how big a role digital plays in terms of influence and percentage spending with 80 percent of consumer journeys will be digitally influenced whilst 60 percent of marketers allocating more spends for digital as compared to last year.

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