MAM
Diwali shopping to surge with 70 per cent consumers ready to spend more
Mumbai: New data shows approximately 70 per cent of Indians are ready to spend more this Diwali, representing a marked 35 per cent increase from last year, according to the third festive pulse survey conducted by global advertising technology leader The Trade Desk. The planned increase in consumer spending is led primarily by consumers’ bullish view that their financial situation has improved (53 per cent), and consumers’ eagerness to celebrate a lot more this year (49 per cent).
The new research indicates growing optimism among Indian consumers is slated to drive larger festive sales this year, giving brands an opportunity to build advertising campaigns tailored to consumer interests and preferences as the biggest shopping season of the year approaches.
Skyrocketing optimism spurs consumer spend
The surge in optimism is driving increased consumer spend, with a significant majority expressing an interest in purchasing luxury goods and apparel (84 per cent) and gold (80 per cent). Amongst those who plan to spend more, 68 percent said they are more likely to increase spending on new clothes, 65 per cent on gold and jewellery, 64 per cent on Diwali food items and gifts for family, and 64 per cent on friends and colleagues.
“This year’s Diwali is shaping up to be the most significant shopping season ever. People are gearing to celebrate more, in turn, they plan to spend more,” said The Trade Desk general manager, India Tejinder Gill. “To make the most of this opportunity, marketers should focus on building trust to engage customers with relevant advertising campaigns that reach them at the right place at the right time. The Trade Desk is empowering marketers to make smarter media decisions for the festive season and for the long term, whilst helping them track campaign performance to drive business growth effectively.”
Brands who engage early and consistently will stay top-of-mind
The findings reflect an always-on branding strategy is the key in engaging consumers effectively. When shopping for Diwali, more than half (58 per cent) of Indians consider themselves to be planned shoppers, while almost half (45 per cent) regard brand trust as an important factor in their Diwali shopping decisions.
The research also unveils significantly higher brand loyalty, compared to Diwali shopping last year. Within the top three product categories where consumers demonstrate the strongest loyalty, a notable 74 per cent of consumers will stick to the same brand when purchasing products in health and personal care, which is an increase of 23 per cent compared to last year. While 69 per cent of Indian consumers will do so for consumer electronics, an increase of 30 per cent, and 65 per cent for makeup and fragrances, an increase of 27 per cent from last year.
Indian consumers are least likely to hold strong brand affinity for toys, games, and collectibles (50 per cent), home and living (50 per cent) and travel (47 per cent). Marketers who employ an always-on strategy can help enhance brand affinity by maintaining consistent connections with their audience throughout their entire purchasing journey.
OTT platforms are effective advertising channels
The open internet provides an opportune place for brands to advertise, and over-the-top (OTT) streaming platforms are garnering notable traction. The majority of respondents (61 per cent) express a willingness to research a product online if they like the ads shown on this channel. Furthermore, people aged 25 to 40 years exhibit a larger appetite for ads on OTT platforms, as half of them (51 per cent) reportedly pay attention to ads on the channel. Concurrently, 43 per cent said they direct their attention towards ads on news, websites, and blogs.
Survey Methodology
The survey was conducted online by research firm Milieu amongst a nationally representative sample of 1,000 India adults, fielded in June 2023. All data was weighted by age and gender to reflect the latest Indian population estimates.
Brands
Hemlata Sharma joins ONEOTT Broadband as chief business officer
Former Zee Media distribution head to steer growth, partnerships and strategy
MUMBAI:Â Hemlata Sharma has joined ONEOTT Broadband as chief business officer, bringing with her more than three decades of experience across television, telecom and media distribution.
Sharma most recently served as head distribution, research & CRM at Zee Media Corporation Limited, where she worked closely with editorial and senior management while overseeing distribution, consumer research and customer relationships for 14 news channels including Zee News, WION, Zee Hindustan and Zee Business, along with ten regional state channels.
In that role, she led nationwide distribution across platforms such as DTH, Hits, IPTV, cable networks and DD Free Dish. She also drove consumer research and strategic insights on a pan India scale, analysing content performance, anchor impact, programme slots and audience behaviour to guide editorial decisions and programming strategy.
Her portfolio also included managing one of the largest alliances with Zee Entertainment Enterprises Limited and overseeing the global distribution monitoring of Wion across North America, Mena, Europe, Africa, APAC and Australia.
Earlier, Sharma briefly served as head sales and distribution at Triplecom Media Pvt Ltd, an engagement driven OTT platform bringing together content, gaming, music and advertising for the entertainment distribution ecosystem.
Her earlier career includes a senior vice president stint at Ten Sports Network, where she played a key role in relaunching the sports broadcaster as an independent bouquet comprising Ten Sports, Ten Cricket, Ten Action and Ten Golf following the Zee takeover. During this period, she moved from vp west to head strategy for cable and dth and later national head retail distribution, helping build the network’s retail distribution vertical across India and launching dedicated golf and football channels.
Before that, Sharma spent over six years at Bharti Airtel as general manager operations for Madhya Pradesh and Chhattisgarh. She initially led marketing and corporate communications before moving into sales leadership, where voice sales grew by 86 per cent and revenues by 96 per cent. She later headed business operations, expanding annual business volumes to Rs 100 crore while significantly reducing operational costs.
Sharma began her long association with the media distribution ecosystem at Zee Entertainment Enterprises Limited as regional head sales and distribution for central India. During that period, she played a role in the early rollout of pay television channels including Zee Cinema, HBO, Nickelodeon and Cartoon Network, while also contributing to the launch of Siti Cable in key central Indian cities.
With her new role at ONEOTT Broadband, Sharma is expected to focus on strengthening business strategy, expanding partnerships and driving growth across the company’s broadband and digital distribution ecosystem.
