A good festive season can be seen as a reflection to the state of the economy, as more money in hand to spend can mean more money to splurge during festivities. April sees many states in the country celebrating new year as per the local traditions and this is another opportunity for brands to reach out for their share of the consumer wallet.

This year, for the Tamil New Year and Vishu in Kerala, brands are leaving no stone unturned in their bid to reach out to consumers.

For Priyanka Sethi, Head of Marketing, Haier India Appliances, innovation and customer centricity is what is key when it comes to appealing to consumers. She says, “Product innovation and customer centricity are key and hence at Haier we are excited to offer our customers the latest and most innovative cooling appliances- air conditioners and refrigerators that will enhance their festivities.”

As per Vimesh P. Senior Vice-President, Marketing, Casagrand the buoyancy and positive sentiment seen in the real estate sector will continue during the festival. He says, “The sentiment is expected to be increasingly positive during this festive season as a myriad of aspiring homebuyers across all segments will consider investing in their dream homes owing to auspicious events such as Tamil New Year and Vishu. The real estate sector over the years saw substantial growth of over 6% to 7% during this season. Moreover, all our projects across markets have seen an upsurge in sales especially during 2022 and we expect the same trend to continue in 2023 as well.”

Amarendran Vummidi, Managing Partner, Vummidi Bangaru Jewellers says that in the post-pandemic scenario, the sentiment around each festival has been one of enthusiasm and gratitude. The leading fine jewellery brand has launched new collections - Sapphire Story, Peacock Saga, month-long bangle showcase – for New Year.

Summing up the overall sentiment, Aparna Tadikonda, EVP (South), Interactive Avenues says, “The sentiment around Tamil New Year and Vishu continues to be positive and celebratory this year. Consumers are enthusiastically gearing up to celebrate the festivals with their families, while brands are developing their marketing strategies to tap into this mood and achieve their objectives.” She adds, “Automobile and apparel sectors, as usual, have been the largest spenders during Vishu. While there has been a 10-15% dip in spends for apparel, we are also seeing FMCG, local retailers, jewelry brands, and e-commerce players leveraging this season with offer-based messaging to drive footfalls or traffic to their D2C platforms.”

Where is the money going?

With advertisers spending big bucks to capture consumers attention, the question is where is the moolah being spent? And it seems that with consumers spending a significant part of their lives online, the brands are also following that part with online - social media platforms, OTT and other online mediums – garnering a larger share of the wallet.

Vimesh P says, “Without a doubt, the online medium will be highly preferred, as it yields massive visibility for the brand and generates a lot of business for all our projects across regions. Given the impeccable growth in digital media, many consumers depend primarily on online platforms to source news and information. Hence, ad spending on online mediums such as social media platforms will be significantly high during this festive season. Nevertheless, at Casagrand, we have precisely segregated our advertising spending with 30% on Print, 40% on Digital and the rest on outdoor and other mediums.”

An optimistic Sethi says, “We are anticipating a significant increase in demand during this time, and are leveraging a strategic media mix to reach our target audience. In line with the trends, we align our marketing strategies to bring in the best for the consumers across India. We constantly believe in growing and going ahead, hence this year we will focus heavily on digital marketing, with around 60% of the marketing spends allocated for it, since that is one of the best ways to communicate and address the needs of the end consumers. The customers will see integrated marketing campaigns for product innovation from Haier, we've recently partnered with JioCinema as the Digital Streaming Sponsor of the IPL 2023.” She continues, “So far our efforts have been well received, as we continue to see an overwhelmingly positive response from consumers. We remain committed to providing the best products and customer experience, and look forward to being a part of this joyous occasion."

Digital also seems to be the go-to medium for the traditional and over 120-year old brand VBJ. Says Vummidi, “This is the time of the social media and more organisations are striving hard to keep up with the trend. We, at VBJ, want to strike a balance between traditional ways of advertising and newer methods. Our team makes the best out of all advertising techniques. We are coming up with more contests and reader engagement posts for better reach for our Instagram handle.”

Sharing the media agency perspective Tadikonda says, “We are observing that many brands are using a combination of digital and print media in their marketing mix to drive specific CTA. While print is primarily driving awareness about the collection, offers, and driving footfalls to the store, we see digital media driving lower funnel objectives to their D2C platforms.” She adds. “Traditionally, we have seen a 10% YoY growth for local festive spends. However, there has been negligible growth this year compared to last year. Brands are spending responsibly, and ROI has become the primary metric behind their media selection. We are witnessing a shift in the marketing mix for the same budget, with a greater focus on digital media as it aligns better with mid and lower funnel objectives.”