21st century India has witnessed a gigantic customer revolution. The economy has scaled up to a staggering $2 trillion from a mere $422 billion back in 2001. Per capita incomes are on the rise along with the Gross Domestic Product or GDP. Some consumption segments have managed to hold on to their high billing including mobile phones, subscriptions and also cars. Indian advertising has naturally transformed itself to match the changing needs and demands of the newly emancipated population.
According to advertising experts, the landscape has shifted considerably as compared to the earlier decade and even the last few years. Service oriented sectors have grown as opposed to the slump in the manufacturing and production sector. This has impacted advertising immensely. Services now dominate both the print and television advertising categories and this is one of the biggest trends in the sector in recent times. Television has heralded its dominance over all other media platforms when it comes to advertising. According to industry statistics, television holds the lion’s share of advertising expenditure which is more than 40% while digital media is also rapidly expanding its footprints and will soon move into double digits.
Print media expenditure has gone down considerably and stands at less than the coveted 40% mark as per recent reports and statistics. Television is increasingly being used as a prime advertising platform by nationally acclaimed companies and organizations while print is the marketing weapon of choice for local and regional players. Alongside, advertising has witnessed the interdependence of media platforms where they often work complementary to each other to get the message across. This is another new development which is being tapped by agencies for their campaigns and marketing blueprints.
Soft drink companies still advertise hugely in their bid to outdo each other and this translates into fantastic advertising. Alongside, other duels have emerged between telecommunication companies and mobile phone companies as well. The Samsung and Nokia or Vodafone and Airtel battles are the stuff of modern day advertising legend. The telecom industry has taken up a huge space as far as advertising is concerned. Alongside, FMCG sectors are having a field day when it comes to occupying advertising space and consumer mind spaces. FMCG players are investing heavily in television advertising in recent times while consumer durables sectors are witnessing a quiet exit from the advertising space.
Digital media is slated to be the next big thing in advertising and may soon overtake print as reinforcement to television advertising.