As per the second edition of the Survey , shoppers this festive season are likely to increase their spending by 14% over last year.
Cricket fever is gripping the nation with only a few days left until the Asia Cup, followed by the ICC Men's Cricket World Cup in 2023. According to the second edition of Disney+ Hotstar's Festive Shopping Sentiment Survey, shoppers are likely to increase their spending by 14% this festive season, due to a 12% increase in the size of their shopping baskets.
The Asia Cup and the ICC Men's Cricket World Cup 2023 will coincide with India's biggest festive season, giving marketers the perfect opportunity to capitalize on the popularity of cricket and the positive spending sentiment observed in the second edition of Disney+ Hotstar's Festive Shopping Sentiment survey. In addition, the platform has lifted its paywall for mobile and tablet only viewers for both the tournaments, making the game accessible to more than 540 million smartphone users across the country.
The streaming of two widely watched sporting events for free will enable marketers to make a mark in consumers’ minds before the festive season, during which shoppers are predicted to boost their spending by 14% compared to the previous year.
The survey concluded that consumer spending will be highly influenced by online ads. People are more likely to do their shopping online, with 60% of consumers finding out about new brands and services through online platforms. Additionally, 7 out of 10 shoppers said they prefer digital payment options, with UPI being the most popular choice.
Ajit Varghese – head of network - ad sales, Disney Star said, “With the upcoming Asia Cup 2023 and ICC Men's Cricket World Cup 2023 being free-to-view to all mobile phone users, Disney+ Hotstar is poised to become the prime digital platform for marketers. This especially holds true for the Cricket World Cup, which returns home after a hiatus of 12 years, right before the peak festive season kicks in. Safe to say that all eyes are going to be on the action on the ground, making it a once-in-a-decade opportunity for brands looking to make the most out of the festive fervor amongst consumers.”