MAM
Global ad expenditure slated to rise; Zenith Optimedia
LONDON: Global advertising expenditure is now expected to rise by a total of 3.2 per cent in 2003. These new figures released by media buying giant Zenith Optimedia indicate a slight increase on previous forecasts.
By contrast, the Zenith Optimedia report states that the television advertising market is showing no sign of recovery and is unlikely to do so until next year.
The report states that the increase has driven by growth in the US economy and a surge in demand for poster advertising around the world.
The Zenith Optimedia report states that while the situation in the US continues to improve, Europe is still some months from following the US lead.
“The US was the first in to the advertising downturn and is the first out. In Europe we’re seeing a bit of a delay. But there’s also been a bit more spending in Europe than expected,” said Jonathan Barnard, knowledge management manager at Zenith Optimedia.
In the UK, Zenith predicts growth of just 0.5 per cent on the previous year, a drop in real terms of 2.4 per cent once inflation is taken into account. Demand for press advertising remains slow with “no real growth in prospect” according to the report, with sectors such as financial advertising down 14 per cent since the beginning of the year.
The report adds that the billboard market, shot up by 17 per cent in the first quarter of the year 2003 and by 6 per cent in the second quarter. The growth, which Barnard said was chiefly down to improvements in the quality of stock offered by outdoor contractors and new advertisers using the medium for the first time, has led to Zenith raising its sector growth forecast for the year from 6 per cent to 8 per cent.
Television advertising spend will witness a growth in 2004 and this will be driven by football’s 2004 European Championships in Portugal.
MAM
Flipkart promotes Kunal Gupta to SVP amid quick commerce push
Minutes head to lead expansion as dark store network set to hit 1,600
MUMBAI: In the race where minutes matter, Flipkart is betting on a familiar hand to move faster.Flipkart has elevated Kunal Gupta, vice president and head of Minutes and grocery, to senior vice president, signalling a sharper focus on its quick commerce ambitions. The move, confirmed via an internal email reviewed by Moneycontrol, comes as the Walmart-owned firm doubles down on high-frequency delivery, positioning its Minutes vertical as a key growth engine.
According to Flipkart CEO Kalyan Krishnamurthy, Gupta brings a proven track record in turning around businesses and scaling high-growth categories, having led roles across fashion, mobiles and large appliances during his tenure at Flipkart.
Gupta, who joined the company in 2014, has spent over a decade across multiple business units and most recently steered the Minutes and Grocery vertical. In his new role, he will continue to oversee Minutes and report directly to Krishnamurthy.
The elevation comes at a time when competition in quick commerce is intensifying, with rivals such as Amazon (via Amazon Now), Blinkit, Zepto, Swiggy (through Instamart) and BigBasket all racing to capture market share.
Flipkart is also gearing up to launch a standalone app for Minutes currently housed within the main platform marking a shift towards a more dedicated, speed-first user experience for grocery and essentials.
On the infrastructure front, the company is set to double its network of dark stores to 1,600 in the coming months, underscoring the scale of its push.
As the quick commerce battle heats up, Flipkart’s message is clear, speed isn’t just a feature, it’s the strategy.
