afaqs! news bureau

68% of women take charge of festive season spending decisions:Carat India Festive Report

The report will enable brands to engage with festive consumers, navigating the cluttered marketing landscape.

Inching closer to the peak of festivities, Carat - the media agency from dentsu India, has launched a festive reckoner, ‘Reimagining India's Festive Landscape 2023’. Inspired by the philosophy of the agency’s global framework - 'Designing for People', the report offers a unique perspective to revolutionise brands' approach to the upcoming festive season in India.

Every year, brands invest a chunk of their resources to decode shoppers and analyse consumer behavior, limiting their expertise in reaching out to a sect of consumers. However, the need for marketers today is to transform their approach to holistic consideration of the fundamental shifts that consumers witness during the festive period.

The report is a quick solution that highlights profound insights into the varied phases of an individual’s journey to becoming a festive consumer. It is designed to bring a significant shift in perspectives, enabling brands to craft a robust people-centric engagement plan that can target consumers across the marketing funnel.

As per the report:

  • Approximately 65% of people witness an uptick in their spending during the latter half of the year

  • People in their browsing stages often spend between 1.5 to 2 months in the research phase

  • 68% of women take charge of the decisions

Below are the key principles from the report for brands to break free from the festive clutter:

  • 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.”

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