People notice social media ads almost as much as they notice print ads: Report
- As per a recent survey conducted by consumer data intelligence consultancy Axis My India, only 17% notice ads on social media platforms, 15% on print, 6% on outdoors and 2% on radio.
- The report also looked at consumer spending patterns, which revealed that spending on essentials like personal care and household items has increased by 1% from last month.
- Spends on non-essential and discretionary products like ACs, cars, and refrigerators also increased from last month.
AdvertisementA recent report by consumer data intelligence consultancy Axis My India reveals that most consumers notice advertisements on television, followed by online mediums.
As per the report, 32% notice advertisements on TV, while 26% notice it through online mediums. The survey also discovered that only 17% notice ads on social media platforms, 15% on print, 6% on outdoors and 2% on radio.
“This is, thus, a crucial time for the Indian advertising business as spends are expected to bring a lot more returns than usual. As more and more people (61%) are watching online video content (YouTube/OTT) on their mobile/home TV and thereby noticing ads across TV, online and social media platforms, it is of utmost importance for the media industry to tap the right medium for addressing differentiated consumer needs,” said Pradeep Gupta, Chairman & MD, Axis My India.
20% say they’ll shop more this
Thanks to the festive fervour,
The three indicators of consumer spending — spending on essentials like personal care and household items; spending on non-essential and discretionary products have seen an improvement over the last few months.
As per Axis My India’s July report, the rise in inflation had impacted spending across essentials and discretionary products. As their purchasing power is affected, they are forced to restrict their expenses.
However, discretionary spending is finally returning as consumers celebrate festivals after two years.
The September report highlights that 20% are planning to shop more this festive season. Spends on essentials like personal care and household items increased for 46% of the families, which is an increase of 1% from last month.
Spends on non-essential and discretionary products like ACs, cars, and refrigerators has increased for 7% of families which reflects an increase of 1% from last month.
AdvertisementThe report says that 10% of farmers are also planning to purchase new tractors in the coming year. Currently, a significant 86% of farmers don’t own a tractor, due to smaller land holdings and affordability.
“After compromising the past two festive seasons to the pandemic and its related constraints, this year consumers are expected to shop more during festivities. One can witness a slight increase in expenses across essential and discretionary products already. Further improvement in mobility sentiments highlights the fact that more and more people are enjoying the stores and malls experience of discovering, shopping and gifting,” said Gupta.
Apart from that, consumers are also venturing out a little more as mobility has increased for 7% families, reflecting an increase of 1% from last month.
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