Lifestyle brands and e-commerce platforms are going to deploy as much as 30% of their total advertising budget as they expect a robust growth of over 100% in terms of their sales on a year-on-year basis during the upcoming festive season.
“In terms of growth, we are going to be very aggressive this year as we are targeting 100% higher growth vis-à-vis last year during the festive season. We are currently working towards expanding our portfolio by introducing new brands and products across categories such as fashion, accessories, Indian luxury, and designer wear,” said Mohua Das Gupta, Head-Brand Marketing, Tata CLiQ Luxury.
However, Das Gupta also pointed out that Tata CLiQ Luxury will be focussing on highlighting some of their strategic categories like fashion, watches, and fine jewellery in the days ahead.
In an interaction with BestMediaInfo, Myntra’s spokesperson said, “Festive season is one of the most-awaited periods of the year, and this season in particular will be special. After muted celebrations in the past two years, everyone is excited and looking forward to a period to be happy about and to celebrate with full fanfare.”
Speaking on behalf of Myntra, the spokesperson also went on to add that the e-commerce platform is currently looking forward to not only a seasonal uptick for ethnic wear, festive wear and gifting categories, but also expects an increased sales for beauty and personal care, kids wear, footwear and home accessories with a high demand across metros, tier 1, 2 cities and even in smaller regions.
According to Shankar Prasad, Founder and CEO, Plum Goodness, “We are looking at an exponential increase in our festive sales, a glimpse of which was seen in our recent eighth birthday sale in July where we witnessed an approximately 2.5x growth. We do expect to maintain a 2.5x growth multiplier on a year-on-year basis during this festive season.”
Furthermore, he also added that Plum’s advertising budgets have largely grown in line with their revenue and that their festive season ad spends account for approximately 30% of their total advertising budget.
As per Veena Ashiya, Founder and CEO, Monrow Shoes and Accessories, “Monrow has seen a 2x growth in the previous turnout in spite of two harsh pandemic waves, along with a 30% customer retention rate. Additionally, we expect around 3x growth in our revenue for the upcoming festive season as we already stand at an average engagement rate of 6%.”
Ashiya further went on to say that Monrow has curated its marketing plans to include strategies such as conversational commerce, Influencer marketing, AR/VR/Live streaming, among other things which have enhanced the customer experience and increased their growth rate. Also, for the festive season the brand has allocated 40% of their cumulative advertising budget.
“We are anticipating a good festive period this year with a significant 20% boost in sales for Q3 as compared to Q2. But when it comes to our growth expectations from the upcoming festive season, we are expecting a 1.5x growth during the festivities,” stated Sutapa Chatterjee, GM- Marketing, Boddess.
Since Boddess came into existence only during the pandemic, their main focus is to maintain a parity in terms of pricing across online and offline mediums, as per Chatterjee. “We plan to be aggressively present across digital mediums such as OTTs and owned channels like Facebook, Google and Youtube for the festive season as we have allocated approximately 30% of our advertising budget for our Q3,” she added.
Shaily Mehrotra, CEO and Founder, Fixderma, also said, “During the pandemic, we went ahead with the D2C approach and ensured our presence across online marketplaces. This festive season, we are expecting to elevate our revenue and growth by 2x and will be banking on gifting offers/packs, freebies/samples along with a social push to create awareness and form an added utility for our products.”
Moreover, Mehrotra also highlighted those festivals are all about enjoying the season with friends and family without worrying about skincare issues or hiding imperfections and what has helped Fixderma’s brand awareness is their brand ambassadors who have helped it form a connect with the people through their voice and presence.
The spokesperson for Myntra highlighted that the e-commerce platform would be focussing on a multi-pronged holistic approach and that their marketing efforts with celebrities and influencers will be amplified across TV, outdoor, digital and social media platforms.
Plum’s Prasad also went on to disclose that the skincare brand will also be launching new products under their colour cosmetics range in the festive season as it witnesses the highest pick-up during the festivities.
He also revealed that post-pandemic, consumer behaviour has changed immensely and people are now looking for more interactive content with a human element to engage with when they look at brands. As a result of this, Plum had to pick up on more user generated content and explore new formats like Instagram Live and Live Shopping in the online world. In the case of the offline realm, it is distribution and shelf space visibility that makes a difference.
“At Monrow, we believe that with fashion comes comfort and with fashion and trends comes responsibility. The responsibility to ensure that we, as producers and a major part of the fashion industry, need to minimise the use of harmful factors of production and ever since we have walked down this line, we have seen a better outcome in terms of revenue and growth,” added Ashiya.
Tata CLiQ Luxury has been digital-first in their approach, thereby the main emphasis is to reach out to their prospective and existing consumers through digital and social channels, as per Das Gupta.
“From a customer acquisition perspective, we have been seeing a surge in demand from markets apart from metro and Tier I cities. Hence, our focus will be on expanding our customer base in the Tier-2 and Tier-3 markets,” she pointed out.
Adding on to the booming of the digital mediums, Boddess’ Chatterjee said, “Beauty as a category is advocacy-driven and hence video concepts and social media are key marketing mediums to engage with the consumer.”
On a concluding note, Fixderma’s Mehrotra said, “Our ad spends on digital focuses on social and search and we are already a regular on print and television now. Thus, we do not intend to amplify and would rather like to sustain the same approach throughout the year and that is not at all a deterrence to our sales expectations.”