MAM
FMCG and E-commerce dominate digital ad spending: DigiPlus fest 2023 report
Mumbai: The DigiPlus Fest 2023, a prominent digital marketing conference in India, successfully concluded recently. This year’s event, notable for attracting key industry figures and featuring insightful discussions, was further highlighted by the release of the eagerly awaited “The State of Digital Marketing in India 2023 – 24” report, a joint project between ET BrandEquity and Ipsos.
This comprehensive report provides an in-depth analysis of the digital marketing landscape in India, offering detailed estimates and forecasts on digital advertising spend and highlighting pivotal growth drivers and emerging trends. The report is a testament to the evolving and dynamic nature of the digital marketing industry in India.
Key Highlights of the Report:
Digital Advertising SpendThe report indicates that digital advertising spending in India has reached Rs 31,500 crore in the fiscal year 2023, with an anticipated surge to Rs 41,000 crore by FY 2024. This underscores the growing prominence of digital platforms in advertising strategies.
Digital advertising spending in India is primarily driven by nine key sectors, with FMCG and e-commerce contributing to over 60 per cent of the total digital spending. E-commerce is the fastest-growing segment, with an increase of 43 per cent (FY 22 vs. FY 23), and FMCG grew by 30 per cent.
Internet adoption, data analysis and technological advancements are critical drivers of growth for digital advertising.
Additional insights to look out for:
Media Share Shift: A significant finding is the projected overtaking of digital media over television in ad spend share by FY 2024, accounting for about 39 per cent of the total. This shift signifies changing advertiser preferences and the growing audience inclination towards digital platforms.
Trend projection: Marketers have adapted to the fast-paced change around technology, consumers & business by going digital and adoption, to tap into their key audiences.
As attention spans keep dwindling, the need for video content to be brief, targeted, and engaging is more crucial than ever. The trend of concise, and powerful advertisements, known as bumper ads is projected to persist
Influencer marketing will play a critical role in enhancing brand and customer relationships and driving business growth
Personalised and customised marketing to gain prominence catalysed by AI & ML
WhatsApp Business continues to be a rising force in digital marketing, capitalising on its 2.5 billion active users globally and 500 million in India.
The Economic Times Business Verticals business head Amit Kumar Gupta commented on the launch, stating, “The integration of digital media in marketing strategies is evident, yet there’s immense untapped potential. Our report aims to shed light on these trends for business leaders steering digital marketing in their organisations. We believe this report will further open the opportunities that digital platforms offer.”
Ipsos India partner strategy3 Deepak H noted, “The digital marketing landscape is rapidly evolving with trends like Generative AI, Influencer Marketing, Machine Learning, and Multi-channel Marketing taking centre stage. This report is instrumental in understanding these changes.”
The report is a must-read for business leaders, marketers, and industry professionals looking to gain a deeper understanding of the current state and future prospects of digital marketing in India.
Brands
Emami names Dhruv Aggarwal as chief growth officer
Former Bain partner steps in as FMCG firm sharpens growth playbook
MUMBAI: Emami Limited has appointed Dhruv Aggarwal as its chief growth officer, effective 25 March 2026, following the resignation of Giriraj Bagri.
Aggarwal joins the FMCG major from Bain & Company, where he most recently served as partner. With over two decades of experience across consulting and strategy, he brings a global perspective shaped by work across India, the US, the UK and Germany.
During his tenure at Bain, Aggarwal advised consumer, retail and media companies on large-scale transformations, business turnarounds and growth strategies. He was also closely involved with India’s startup ecosystem, guiding early-stage ventures on scaling and digital expansion, while supporting private equity and venture capital firms on investment decisions.
His earlier stints include a brief role at Barclays Capital and operational experience at Jindal Power, giving him a mix of financial and industry exposure.
Academically, Aggarwal holds an MBA from Indian Institute of Management Bangalore and has also been associated with University of Illinois Urbana-Champaign as a PhD candidate and teaching assistant.
The appointment comes at a time when Emami Limited is looking to sharpen its growth strategy in a competitive consumer market. With a seasoned strategist now at the helm of growth, the company appears set to double down on transformation and expansion in the months ahead.
