In a MediaBrief exclusive, Kunal Vora, Founder-Partner at ABND; Rubeena Singh, Country Manager – India and MENA at AnyMind Group; and Sunitha Natarajan, Director of Digital Strategy at Social Panga, speak about the expectations of brands for the festive season, predicted festive trends, and outline business strategies and technological innovations that will take center stage in 2024.
Kicking off the conversation by outlining how the festive season presents a significant opportunity for growth, Social Panga’s Sunitha Natarajan states, “In my experience, festive planning is a crucial aspect of the second half of the year, spanning from Raksha Bandhan to next year’s Sankranti. Brands plan for more than 50% of their budgets around this time for a reason.”
Discussing how she foresees consumer behavior evolving during this year’s festive season, particularly in response to the current economic climate, Natarajan says, “Interestingly, despite inflationary pressures, consumers are willing to spend during this time, as seen in the RedSeer report and WARC analysis.
“This could also be because it is the season of happiness and grand celebrations, which means sales and lots of discounts! Brand properties like Amazon Great Indian Sale, Flipkart Big Billion Day Sale, Smart Bazaar Sale, and many other festive sale properties are proof to back this up.
“This season will see a lot of hybrid festive shoppers who will continue to contribute to boosting sales and dial up the numbers,” Natarajan adds.
According to ABND’s Kunal Vora, this year’s festive season is going to be a delicate balance of joy and cautious spending. “Consumers are navigating an unpredictable economic climate, which means they’re more discerning, focusing on quality over quantity. But here’s the thing: festivals are an emotional experience, and people will find ways to celebrate—just smarter.
“Digital trends will play a massive role in shaping these decisions. E-commerce will thrive, with consumers seeking value through exclusive offers, bundles, and personalized deals.
“Expect to see a rise in impulse purchases driven by digital storytelling and experiential campaigns, but with a thoughtful spin on mindful consumption. Brands that acknowledge the current climate while still invoking festive warmth will win big,” adds Vora.
AnyMind Group’s Rubeena Singh anticipates a surge in consumer spending with the increased economic optimism. “E-commerce platforms should ideally see a growth of over 25% in sales compared to last year, as reported by industry analysts,” explains Singh.
Given the current digital trends, she adds, “Consumers are more digitally savvy and are increasingly leveraging online channels for festive shopping. Mobile commerce is particularly on the rise, accounting for nearly 70% of online purchases. Additionally, there’s a growing trend of consumers seeking personalized and convenient shopping experiences, which is driving the adoption of technologies like AI-powered recommendations and chatbots.”
Originally Published:
Media Brief: https://mediabrief.com/agency-leaders-on-leveraging-the-festive-season/
