Rapid growth in India's ad market, China's slowing: Mindshare Asia Pacific CEO
Mint at the annual advertising conference, GoaFest, McRae noted that advertising categories such as consumer-packaged goods, automobiles, QSR brands, and banking and financial services (BFSI) have been performing well in India's advertising sector. This positive trend is expected to continue in the latter half of the year, as indicated by data from Mindshare’s India arm.
Mindshare, owned by GroupM, which also operates Wavemaker and EssenceMediacom, has faced a “consumption slowdown challenge" in India over the last few quarters. However, this is anticipated to improve in the coming months, thanks to prestigious events like the ongoing ICC Men’s T20 Cricket World Cup and the annual festive season starting in September-October.
The company has seen year-on-year double-digit growth in first quarter of FY25.
Rewriting the playbook India's unique market dynamics are reshaping Mindshare's approach across the Asia Pacific region, driven by increased innovation. McRae pointed out that global economic challenges have had less impact on Asia compared to other regions, overall benefiting the business landscape.
"What's interesting here in India, where online commerce is still very small at 6% of the entire commerce business, is that it is evolving very quickly. Retail media combines social commerce, live streaming, influencer marketing, and conversational commerce, creating a challenge in planning but also excitement because India is still on the learning curve compared to the rest of Southeast Asia, especially China," McRae said.
“All these disciplines are scaling in Asia, making the region a center of gravity for the future of marketing, with India having a profound impact on it," she added. The company is now focusing on using
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