At a point of time when the world came to a standstill due to the coronavirus pandemic, audience consumption patterns changed and so did the propensity of advertising on several mediums which form the cumulative media mix.
According to Arvind Chintamani, VP Marketing, Colgate-Palmolive India, the one top trend that prevailed in the marketing arena during 2022 was the impact of inflationary global waves induced by Covid in the post-pandemic world.
“2022 was the year when the biggest modern pandemic receded and the greatest modern inflationary, global wave swept across us, leading to a combination of recovering demand, surging costs and prices,” he said.
He also went on to add that it has been proven time and again that strong and powerful brands which provide the best value at every price point come out stronger in times like these.
“In 2022, Colgate was chosen by 88% of Indian homes which is more than any brand across any category,” Chintamani added.
While global headwinds like the Russia-Ukraine war, surging petrol prices, raw material supply shortage etc. saw leading businesses facing the brunt of inflationary trends and pressures all around the globe, the FMCG sector saw consumers growing more conscious while making purchases.
Commenting on some of the expected trends that, in his opinion, will gain prevalence in 2023, Chintamani said that since the coming year would be the first year with the pandemic effect at bay, Colgate is gearing up for a recovery in rural demand, sustained growth of digital media and commerce along with an acceleration in sustainability as a priority.
To address the increasing audience preferences for the digital medium, the FMCG player had also launched its Direct-To-Consumer website this year to facilitate modern trade. The brand has also been allocating its ad spends adequately on both Digital and TV for furthering the reach of their communication, as per several reports.
In terms of the recovery in rural demand, he also stated that with a good monsoon coupled with a sense of control in inflationary pressure, rural demand is likely to strengthen for brands that deal in essential goods and provide both high-value and superior products. This is also one of the primary focuses of the FMCG player in the country, he added.
Additionally, Chintamani also stated that with more time being spent on multi-screens and omnichannel shopping, brands that specialise in providing integrated brand experiences are likely to have a good trajectory in 2023.
Chintamani also commented that acceleration in sustainability has become a priority in the modern-day markets due to increasing pressure on natural resources and increasing consciousness in shoppers which tilt demand for more sustainable products.
According to a recent survey conducted by Bain and Company, 52% of urban Indians expect to increase spending on planet-friendly brands in the next three years.
Citing an example of the Colgate Toothpaste recyclable tubes, Chintamani emphasised that more and more innovative and collaborative initiatives will see the light of day in 2023 in his opinion.
“As a brand chosen by almost 9 out of 10 Indians, we are always looking ahead to trends and provide people with the most advanced products and experiences for their oral health and beauty. We foresee similar trends for the industry at large,” he added.