55.17% consumers to spend over Rs 20,000 during festive season: VDO.AI insights

Delhi: VDO.AI in partnership with MoEngage, an insights-led customer engagement platform, has launched the Indian Festive Report 2024: Festival of Opportunities. 

This in-depth report is the culmination of primary research conducted with over 1,000 Indian shoppers. 

The report sheds light on emerging trends, consumer behaviours, and strategic opportunities that brands can harness to capture the attention of the Indian audience during the country's most vibrant shopping season. 

With digital ad spending in India set to increase by 15.9%, reaching Rs 580 billion in 2024, the timing is perfect for brands to leverage data-driven, personalised campaigns that resonate deeply with the festive spirit.

Notably, 81% of primary decision-makers during this period are women, highlighting the importance of female-centric marketing. Additionally, the wedding industry is projected to exceed Rs 4,25,000 crore in spending, offering brands a substantial opportunity to align their offerings with the festive wedding season. 

Furthermore, with 63.8% of consumers preferring to research and explore festive shopping options via mobile devices, the report emphasises the necessity of mobile-optimised campaigns to effectively reach this audience.

Amitt Sharma, CEO of VDO.AI, commented, “As we step into the dynamic Indian festive season, the digital advertising landscape is poised for remarkable growth, with a 15.9% projected increase in 2024. This surge, fuelled by rising internet penetration and evolving consumer engagement, highlights the necessity for innovative, personalised strategies. Our report serves as a crucial guide for brands looking to create standout campaigns amidst the festive buzz.”

Venkat Thangi, Marketing Director at MoEngage, added, “In today’s phygital world, delivering seamless omnichannel experiences is essential. Personalisation is no longer optional—71% of consumers expect tailored interactions. With 72% of young Indian E-commerce shoppers basing their purchase decisions on personalised recommendations, brands must integrate and individualise experiences across all channels to thrive in the festive market.”