India: GIPSI, Tonic Worldwide’s insights division, launches The Festive Report Part-2. It features 6 unique growth-focused insights in light of the festive season. Building on Part-1, this report delves into quick commerce, 1st party data, App metrics, review strategies, and more.
GIPSI employs HI+ AI methodology to analyze various data points and generate actionable insights. The report utilizes the GIPSI Deep Listening model, which examines multiple data points.
Speaking on the findings of The Festive report, Anjali Malthankar, National Strategy Director and GIPSI Co-Head, says, “Part-2 of the GIPSI Festive Report shines a light on matters that matter most to marketers – actionable growth insights. The report is rich with insights from topics like quick commerce that have an immediate implication for the festive season and are reshaping the customer expectations to unique perspectives on known problems of app metrics under the section ‘App-with-benefits. It further includes unique insight buckets such as First Party (data) Then Nurture (Leads), a great hack for 1P Data and how to leverage festive season for the same. While Part-1 and Part-2 of the GIPSI Festive Report stand independent of each other, together they deliver a great start to all marketers with a digital agenda this festive season.”
Unmisha Bhatt, Co-Founder and CSO at Tonic Worldwide, expressed, “As the festive season kicks in, AdEx is set to surge with brands vying for consumer attention. With digital platforms taking center stage and new commerce trends emerging, we recognize the need for marketers to maximize the ROI of their festive ad spending. Part 2 of our Festive Report is a step in that direction. For the first time, we are unveiling festive ‘performance-focused’ insights that can guide and enhance media strategies for growth marketers. While our first edition focused on deepening customer engagement and building brand consideration, this second edition aims to power strategies targeting the crucial lower end of the purchase funnel.”
Festive shopping shifts from Planned to Impulse: India’s top quick commerce apps are experiencing a 22% user surge pre-festive 2024, indicating Indian consumers’ growing favor for instant shopping. These platforms offer convenience and instant fulfillment, driving increased interest in various product categories. Festive shopping behavior is shifting from planned to impulsive, presenting brands with the opportunity to tap into this trend by engaging consumers on quick commerce platforms.
First Party (Data) then Nurture: During festive seasons, consumers actively seek offers, exploring various avenues to maximize their purchases. A noticeable increase in ‘sign-up discounts’ mentions on X since January 2024 reflects consumers’ readiness to share data for added value, enabling brands to gather first-party data for post-festive season nurturing. This period is ideal for collecting data and nurturing leads.
It’s time to review REVIEW!: Online product reviews are crucial for Indian consumers, but a surge in complaints about ‘fake reviews’ on X raises concerns. Over 86K Instagram posts imply the quest for genuine reviews extends beyond marketplaces, where an excess of low-quality reviews can sow doubt.
Music, Video streaming & Inspiration: During festive 2023, there’s an 82% increase in ‘recipe ideas’ searches and a 20x increase in ‘home decor ideas’ searches. Consumers spend over 3K extra minutes listening to music, showing their engagement in activities like music, OTT content, and social media browsing. These platforms are key for personalized consumer engagement.
‘Apps’ with Benefits: A 7% drop in consumer retention across India’s top online shopping apps during sales suggests shifting behavior patterns. Users now delete apps due to various factors beyond necessity, such as space constraints, alternative preferences, and curiosity for new options. Brands should gauge loyalty based on transactions, not just app installations/uninstallations.
Skip to the Good Part (Jumping to the BOFU is the good part): In pre-festive 2024, there were 2.2 million more sales searches than in 2023, showing consumer interest in festive sales. Low-budget brands in-market can go straight to BOFU.
