India Inc likely to spend 20-25% more on advertising in the second half of 2023
Advertising and consumer promotion expenditure is expected to surge a record 20-25% year-on-year in the second half of 2023, spurred by factors such as the Cricket World Cup, a rainy summer that has led companies to postpone ad spends, and the festive season, said executives. Spending is expected to be led by sectors such as ecommerce, fast-moving consumer goods (FMCG), travel and hospitality, apparel and fashion, fintech, banking, retail and automobiles, they said.
«We see a very big season for advertising starting September, much higher than the previous year,» said Sam Balsara, chairman of Madison World. «The World Cup will be played in India, on prime time, and it coincides with the Diwali season.» Madison World represents the likes of Asian Paints, Raymond, Titan, TVS Motor and Marico.
Executives said launches that were postponed — either because of unseasonal rains or inflationary pressures — in January-June would make a comeback in the second half of the year.Blitz on the pitch «Cricket alone has three big events — Asia Cup, Australia's tour of India and the World Cup. Over and above (this), new general entertainment shows and fresh seasons of reality shows are lined up in the second half of this year,» said Vinit Karnik, head (sports, e-sports and entertainment) at the WPP-backed GroupM South Asia.
«All of this in the festive season is very attractive for advertisers to reach out to their target consumers. The (second half) of the calendar year has huge potential and is expected to see significant growth in terms of ad spends,» said Karnik.
Since India is hosting the World Cup on its own for the first time, the event is drawing interest even from non-traditional advertisers. Milind Pingle, chief executive of
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