MAM
Agency recovery to take at least 6 months: Havas Group CEO Rana Barua
NEW DELHI: Human beings are a creature of habit and it won’t take them long to get back to the routine once the lockdown is lifted, believes Havas Group CEO Rana Barua. In an exclusive interaction with Indiantelevision.com, he, however, notes that the number of brands that a person usually relies on will drop drastically.
“From a consumer perspective, people have somehow understood that a brand has to have some relevance in their life. In the past weeks, they have realised that they can manage their lives without certain brands. For example, a person who used to own 150 brands prior to the lockdown will use only 70 now,” Barua says.
He adds that only those brands that have a purpose and the ability to indulge people in meaningful conversations through stories will survive. “I am very sure that the coming months will see great stories from advertisers.”
Barua also sees a lot of positivity around the growth of businesses across categories in the coming months. “People are willing to buy stuff. You witnessed what happened with the liquor shops opening up. Even with governments adding Covid2019 special taxes in disproportionate percentages, record sales happened. Several brands like Amul and Reckitt Benckiser performed exceptionally well even during the lockdown. I see things coming on track for green and orange zones by the end of June and red zones following it by the middle of July, provided the lockdown is lifted.”
"Our client Hyundai opened 225 showrooms across the country and it recorded 500 bookings in just two days. All of this shows that the consumer is willing to spend,” he says.
Barua emphasises that the overall impact on categories and brands will be “mixed-matched” depending on the role a product plays in a consumer’s life. Businesses like events and experiences will not see any positivity in this year.
While most of the client-side will pick up pace in the next 30-40 days, the agencies will take at least six months to get back to the pre-lockdown form, Barua observes.
“I think the agencies will follow the trail in a slow manner. Large and scalable companies like ours will take at least six months to get back in some form. Obviously, a brand that had been missing from a consumer’s life for three months won’t start advertising suddenly.”
However things are going to be challenging for small scale businesses while bigger networks have cash reserves “They could possibly take a year to recuperate, due to issues like cash flow, rents, salaries, payment to vendors, collections and more, taking a bit longer to recover."
He concludes that he is hoping that the economy opens up soon so businesses can start functioning. He also remains quite positive about new launches.
“I think that the launches will go on as planned once the lockdown is lifted. They (brands) might have to rework on their numbers and the return they were expecting from the calendar year, but launches will happen. Summer brands are obviously at a bigger loss, but if the monsoon is delayed and summer continues for two weeks extra, they too might come out with their new ranges.”
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Axis Bank named Official Banking Partner of DP World PGTI
Partnership supports all tournaments this season to grow professional golf in India.
MUMBAI: Axis Bank just teed up a hole-in-one partnership because when a bank sponsors golf’s biggest swing in India, even the fairways feel more financially secure. Axis Bank has been appointed Official Banking Partner of the DP World Professional Golf Tour of India (DP World PGTI), strengthening its commitment to sporting excellence and community engagement while backing the growth of professional golf across the country.
Under the partnership, Axis Bank will support all DP World PGTI tournaments this season, contributing to talent development, enhanced tournament experiences and wider fan engagement. The collaboration aligns the bank’s values of precision, discipline and trust with the Tour’s focus on performance and opportunity.
Axis Bank executive director Munish Sharda said, “We are pleased to partner with DP World PGTI as its Official Banking Partner. Golf embodies precision, discipline, and a pursuit of excellence qualities that strongly reflect who we are at Axis Bank. This association also strengthens our engagement with India’s growing premium customer segments, where the sport has a deep and enduring connect.”
Professional Golf Tour of India president Kapil Dev said, “We are extremely pleased to welcome Axis Bank as a Tour Partner of the DP World Professional Golf Tour of India. Partnerships of this stature play a vital role in strengthening the foundation of the Tour, enhancing opportunities for our players, and expanding the sport’s reach across the country.”
Professional Golf Tour of India CEO Amandeep Johl added, “Axis Bank’s strong legacy of excellence, innovation, and nationwide reach aligns perfectly with DP World PGTI’s goal to elevate professional golf in India and provide greater opportunities for our players.”
In a sport where every stroke counts and every partnership drives distance, Axis Bank isn’t just backing golfers, it’s investing in the fairway to future, turning India’s greens into a stage where precision meets passion and every drive has the power to inspire.
