In the realm of digital advertising, the festive season isn't just a time of celebration; it's a battlefield of opportunities where brands compete to capture the attention of their audiences. The dynamics are shifting, and data-driven insights are the compass to navigate this ever-evolving landscape. India's Festive Wallet Outlook 2023 by Paytm Ads – unravels insights that would help create impactful festive marketing strategies to win over consumers this season.
Key Advertising Insights:
Enhanced Brand Awareness: Paytm emerges as a standout contributor, achieving three times higher brand and product awareness among users than other payment platforms.
- Vibrant Brand Discovery: The report highlights Paytm's seamless integration into daily routines for bill payments, subscriptions, and digital services. It has become a vibrant brand discovery and consideration platform, linking users with relevant products during festivities.
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Rise of Advertising Platforms: Emerging advertising platforms contribute 30% to brand and product awareness. Advertisers are advised to harness this trend for impactful campaigns.
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Alternate Channels' Growth: Digital ad spending is expected to double from FY 23 to FY 28, with alternate channels surpassing the growth of walled gardens.
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Viable Advertising Platforms: Moving away from the established digital platforms, new channels have gained substantial userbases, offering marketers viable alternatives.
Key Festive Insights:
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Mobile Payments Shift: The report emphasizes the growing preference for mobile payments, with 4 out of 5 consumers favouring it for festive shopping. This insight prompts a potential shift in advertising strategies, leveraging mobile-first approaches via payment platforms.
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Spending Expectations: The report anticipates a surge in spending across categories, with 50% of festive shoppers expecting increased expenditures during the season.
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Digital Payment Surge: A remarkable 120% surge in Peer 2 Merchant digital payments is projected, indicating a growing consumer comfort with digital transactions in the festive context.
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UPI/Wallet Dominance: UPI/Wallet transactions, constituting 69% of offline payments, are positioned to be the primary payment mode across product categories.
The India Festive Wallet Outlook 2023 equips advertisers and marketers to navigate the intricate festive landscape strategically. With pragmatic insights, this report guides industry professionals towards successful campaigns.
Access the full report to decode the strategies shaping this festive season's campaigns (India's Festive Wallet Outlook 2023).
