MAM
Global experts advise Indian retail industry to ‘lead change’
NEW DELHI: On the second day of the KSA Retail Summit, global experts advised the Indian retail industry to ‘lead change.’ The Indian customers today look for solutions rather than products; and customisation and personalisation rather than generalization. They have an expanding spending basket and are reassigning spends. In such a scenario, brands and retailers in India have to be creative to attract the rapidly evolving Indian customers and build a profitable business.
The second day saw leading international and Indian retailers sharing their experience and thoughts on this challenging new prospect.
Talking on ‘Spotting Winning Concepts’, KSA Technopak, India chairman Arvind Singhal said, “Indian retailers today need to invest heavily in understanding the emerging needs of the evolving Indian customer. There has to be a mind shift towards offering innovative and time/cost effective ‘solutions’ that go beyond retail formats.”
Singhal elaborated that the Indian customer can be segmented into five genres, which are also rapidly evolving:
a) Demography: Rapidly evolving market for retail concepts that cater to tween/ teen demands and women/ infant needs,
b) Trading up/trade down: Retailers need to aggressively tap rising lifestyle spends on mobile phones, cars, etc while insuring themselves against a trade down that will affect regular spends on grocery, eating out, apparel, etc.,
c) Ethnicity: The celebration of cultural diversity in money terms. Customers will seek out authentic and ethnic experiences e.g. The popularity of Dilli Haat as a mini India;
d) Time starvation: Need for products that ‘do the rest’ for time starved consumers
e) Around my needs: Big potential for hot retail concepts that micro target i.e. provide products and experiences that are customized to suit specific tastes and preferences.
Addressing a question from the audience on whether the entry of foreign players will hurt the domestic market, Esprit, Asia regional director Peter Hammond said, “The entry of international brands will positively impact the market by helping increase the size of the retail pie. International brands are looking at creating new customers and won’t eat into the existing customer base of the domestic players.”
Ethan Allen, USA chairman, president and CEO Farooq Kathwari emphasized that the rules of retailing need to be written continually for delighting the consumer. He emphasized that change should be seen as an opportunity to realize greater potential.
MAM
India’s experience economy grows as live events market hits Rs 17,000 crore
EY-Parthenon and BookMyShow report finds 78 per cent Indians prefer experiences over products
MUMBAI: India’s live entertainment scene is no longer just about music, comedy or festivals. It is increasingly becoming a powerful stage for brands seeking deeper connections with consumers.
A new report titled Beyond Attention, Into Immersion by EY-Parthenon and BookMyShow suggests that India’s experience economy is entering a strong growth phase, driven by consumers who are choosing memorable moments over material purchases.
According to the study, the country’s live events ecosystem, which includes concerts, comedy tours, festivals and immersive exhibitions, is estimated to reach around Rs 17,000 crore in 2025. The growth reflects a broader cultural shift in how Indians spend their time and money.
The report finds that 78 per cent of Indian consumers now prefer spending on experiences rather than physical products. From attending concerts and festivals to participating in interactive brand installations, audiences are increasingly seeking engagement, community and shareable moments.
This change in consumer behaviour is particularly evident among younger audiences who want to participate rather than simply watch. Instead of passively consuming entertainment, many now look for experiences that allow them to interact, express themselves and connect with like minded communities.
For marketers, this shift has turned experiential marketing into a strategic priority rather than a promotional add on. Brands are moving away from interruption driven advertising and towards immersive formats that allow consumers to discover, test and emotionally connect with products.
The report suggests that experiential marketing now plays a role across the entire consumer journey. It can spark brand discovery, strengthen storytelling, encourage product trials and ultimately influence purchase decisions and loyalty.
The impact is already visible. Post event surveys conducted among 7,450 attendees at major events including Lollapalooza India and concerts by Ed Sheeran and Guns N’ Roses highlight the effectiveness of these experiences.
Around 59 per cent of attendees recalled brands they interacted with during the events, while 55 per cent said those interactions increased their likelihood of purchasing from the brand. A further 63 per cent reported that brand activations actually enhanced their event experience rather than distracting from it. Nearly 29 per cent also said the interaction improved their perception of the brand.
Brands are also changing the way they approach events. Instead of simply putting logos on stages or banners, companies are building experiences into the fabric of the event itself.
Financial services brands, for example, are offering early ticket access, exclusive lounges and curated event experiences for cardholders. Fashion and beauty companies are using festivals to showcase products through pop ups, interactive installations and social media friendly spaces that encourage visitors to share their experiences online.
The scope of experiential marketing now stretches far beyond live entertainment. Retailers are designing experiential stores where customers can explore products in lifelike environments. Entertainment platforms are extending popular intellectual properties into immersive exhibitions and fan events. Technology is also playing a growing role through augmented reality and virtual try on tools that blend digital discovery with physical interaction.
Cultural festivals remain one of the most powerful platforms for such engagement in India. Celebrations such as Navratri and Holi bring together large communities, emotional participation and heightened consumer spending. For brands, these moments offer an opportunity to become part of the celebration rather than simply advertise around it.
Despite the momentum, the report notes that some companies still hesitate to adopt experiential marketing at scale. Budget constraints, limited expertise and uncertainty around measuring return on investment remain common concerns.
However, the growing body of data around consumer engagement and brand impact is gradually addressing these challenges. More marketers are expected to allocate a larger share of their budgets to experiential formats over the coming years.
Taken together, the findings point to a clear trend. As consumers seek meaning, memories and moments worth sharing, live experiences are emerging as one of the most powerful ways for brands to stay relevant in a crowded media landscape.
