Over 60% social media natives claim that they spend more time on the apps as they approach festive seasons, according to Carat's 'Reimagining India's Festive Landscape' report.
The report adds that the 'research stage' before the festive season purchase goes on for anytime between 1.5 to 2 months.
Women are the 'primary festive shoppers' for the house, with 68% taking charge of the purchase decisions. According to the report, the order of priority is self, family, and associates/staff.
According to the report, urban Indians will have a spending propensity index of 96.43 this year. This is a marginal increase from last year's score of 94.45.
This is on the back of 27% respondents stating that they have more savings this year, leading up to the festive season in comparison to the last year.
The average basket size is also estimated to go up this festive season. Buyers will thus be willing to experiment with brands.
According to Carat, to attract the audience during the festive season, brands must look to break free of clutter, and the ways of doing the same are:
- Prioritise attentive reach
- Inspire celebration
- Differentiate with distinction
Sanchayeeta Verma, CEO, Carat India, said, “I am super excited to launch this study. Carat has always been a front-runner in bringing to life some core in-depth industry insights. This festive report further exemplifies our expertise in the domain. It has been created on the key pillars of our DFP framework and incorporates the learnings from our attention economy and Lumen studies. The intrinsic details captured in the report will allow brands to develop a renewed sense of purpose, better understand their TG, and tweak strategies to swiftly navigate through their journeys.”
Anita Kotwani, CEO Media, South Asia, dentsu, added, “Dentsu inherits a futuristic forward-looking approach, finely driven by thought leadership. We take utmost pride in launching this first-of-its-kind festive report, a certain go-to for every marketer. In India, advertisers spend a massive 30-35% of their annual budget during the 45-day festive period. Thus, being distinctive in their media strategy can be a complete festive game changer. The report offers some deeply rooted cultural insights from across geographies to enable brands to creatively customise their media approach and maximise their attentive reach.”
