(MENAFN- VDO.AI) New Delhi, India, May 01, 2024] - Summer sees a consistent rise in consumer spending, presenting prime opportunities for publishers and advertisers. In 2023, Indians spent a whopping 22,800 billion rupees in Q2, and the outlook for this year promises even more rays of opportunity. The Summer 2024 forecast by the India Meteorological Department (IMD) predicts warmer days and nights, with above-normal temperatures expected across most parts of the country. The anticipated rise in temperatures is likely to drive more consumer demand for summer goods such as air conditioners, refrigerators, beverages, ice creams, and soaps this year.
FMCG projects 45-50% growth across all product categories and consumer electronics anticipates revenue to take a 25% leap, doubling their ad spends to leverage the potential for double-digit growth. The VDO.AI report serves as a comprehensive guide for advertisers and publishers, offering invaluable insights and strategies to capitalize on these opportunities and maximize revenue.
As India continues to grow, the Indian advertising industry is also following the same suit. Digital advertising is emerging as a standout leader, boasting a remarkable compound annual growth rate (CAGR) of 23.49%, with a visible potential in Q2. Projections indicate that digital advertising will reach 62,045 Crore by 2025, this trend underscores the unparalleled potential for innovation and expansion within the digital realm.
Amitt Sharma, CEO, VDO.AI, said “The digital landscape is undeniably thriving, particularly during the summer months. As highlighted in the report, this burgeoning online presence presents an unparalleled opportunity for brands. By leveraging the insights provided, brands and publishers advertisers can craft targeted strategies to maximize their impact and ROI.”
Rajat Rajwansh, Head of Digital Marketing, IDP Education, remarked, “Summer always shines as a golden season for advertisers! As the report rightly emphasizes, the scale of opportunities in summer is truly massive. Summer search trends are currently at a yearly high and are projected to keep growing in the coming months. This report offers advertisers perfect strategies and actionable insights they can leverage in their summer advertising campaigns.”
According to Urmesh Chandra, Head - Digital Marketing at PolicyBazaar.com, “Consumer mindsets are evolving in real-time, marking a significant shift. Building enduring relationships with consumers requires brands to intensify their focus on brand-building efforts. The VDO.AI summer report vividly illustrates the evolving consumer funnels, shedding light on their changing behaviors and preferences. Consumers are placing a strong emphasis on brand identity. This report offers invaluable insights into consumer psychology, guiding advertisers on how to strategically capture maximum attention. ”
Rajkumar Remalli, Representative at OpenX, said, “The summer heat feels like a refreshing breeze for advertisers. Consumers are actively shopping for everything from essentials and fashion to electronics and more. It’s no surprise that consumer electronics brands are aiming for double-digit growth this season, as highlighted in the report. This season offers abundant opportunities for brands to capitalize on. The report accurately portrays how the summer season presents the perfect opportunity.”
The Q2 digital advertising report delves deep into the evolving landscape of consumer behaviour and market trends, providing advertisers and publishers with actionable insights to navigate the dynamic season. By understanding the projected rise in consumer spending, the growing importance of digital advertising, and the shifting consumer preferences highlighted in the VDO.AI report, stakeholders can strategically position themselves to seize the abundant opportunities presented during this pivotal time.
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