How's the Diwali mood treating you? I am sure everyone is having a hard time concentrating at work seeing all the Diwali cheer outside🤭
But well, it is also the most exciting time for retailers & marketers out there! From ideating the most fun campaigns of the year to enjoying the high-sale time.
That's all that this newsletter is going to be about, hoping to pass on some festival cheer with my words today🤗
The consumers in India are potentially seeking to spend close to 25% of their monthly salary on an average during festive sales.
The primary purchase motivators include attractive offers (48%), new products launched (41%), and no-cost EMI or pay later offers (33%).
The two dominant consumer cohorts driving these festive sales include the aspirational, value-conscious consumers fuelling online sales on large e-commerce platforms, and the upwardly-mobile consumers engaging in revenge buying for premium offerings on niche eCommerce platforms.
The heightened positive consumer sentiment augurs well for retailers, offering them a potential path to recovery from the Covid-induced losses. That's some good news for sure😄
1. Investment continues to grow:
There has been an increase in digital marketing spend with an average increase of 82% since 2018, this spend usually peaks near the start of October and continues throughout the Diwali celebration.
2. Sustained demand & increased basket values:
There is a year-on-year increase in interest for the Diwali festivities displayed in Google Trends, demonstrating sustained consumer appetite to purchase the best deals during the season.
3. Brand expectations
Along with the increase in spending from large brands we also saw increased customer expectations with growth in search for brand and voucher/sale/discount gaining ground during the holiday period
4. Display and visibility is a proven importance
Pay-per-click display campaigns have also seen a huge step forwards in adoption for SMBs with an average increase in display traffic up 72% compared to 2018.
At Facebook’s Connect event yesterday, CEO Mark Zuckerberg said the corporation will switch its name to Meta. Why?
“Right now, our brand is so tightly linked with one product that it can’t possibly represent everything we’re doing today, let alone in the future,” Zuck said.
The change does not apply to its individual platforms, such as Facebook, Instagram and Whatsapp, only the parent company that owns them.
But what exactly is Metaverse? The metaverse is a complex topic to describe, even for experts, but roughly speaking it’s a world where people work, shop, play, and do everything else they normally do IRL—just in digital form.
And if the metaverse is the next chapter of the internet, Zuck wants to write it and leave everyone else in the footnotes.
Before I sign off for the day, here's a picture of the team finally working together after 1.5 years under one roof. I am writing this email from the same room today, definitely soaking up all the positive energy.
See you next time,