Festive season in India is started from October/ dusehhra to diwali. In this period of time companies launch number of product offers with various schemes and entertainment industry i.e bollywood also wait for this point of time every year and launch various various mega budget movies with the expectation of huge returns.
According to various experts, it’s a right to lift shopping spirits of customers with various creative offerings. Companies i.e. FMCG, auto, liquor, apparel and even services - are rolling out the strategies that they have been planning for months in advance, to get a share of the consumers wallet.
These days with emerging mall concept anytime we can see discount offers in almost every product or service offerings either its garments, mobiles, movies (malls-weekdays offers). Consumers are lapping up the smells and sounds of the festivities and willing to pay for shopping due to customs, trend etc , companies have already gone into overdrive with their marketing blitzkrieg.
According to one analysis, Till a couple of years back almost 40% of the annual sales of many companies used to come from the festive season. But not anymore. Today the festive season contributes only 20-25% of the total sales of most companies.
Today we Indians are start celebrating number of festivals like mother’s day, father’s day, friendship day, valentine day etc and we Indian customers now concentrating more on western festival than our typical festivals like”EID”, “DIWALI”, “DURGA PUJA”, ”CHRISTMAS” etc, so companies are now concentrating on proportionate sales throughout year.
Trend of buying behavior of individuals is changing with the purchasing power and nuclearism. Initially few years back we were mainly concentrating on our traditional festivals and went for shopping for whole family but now everyday is shopping.
Trends:
- Various festive offers i.e. mother’s day, father’s day, friendship day, valentine day and with these our traditional festivals i.e. ”EID”, “DIWALI”, “DURGA PUJA”,”CHRISTMAS”.
- New offerings and assured gifts instead of banking on the concept of giving discounts on their products or holding lucky draws during this particular season.
- Personal gifting.
Marketing Director at Diageo India, Santosh Kanekar, attributes it to changing gifting patterns of the consumer. He says, “True to the elegance of brands such as Johnnie Walker and Smirnoff we have pushed the scope of gifting a few notches higher. For instance, we have introduced the Johnnie Walker Red Label Vodafone F1 festive pack, the Black Label comes with a vintage wooden twin pack, and brands such as Smirnoff Black and Captain Morgan are coming with shakers and chocolates respectively.”
Trend is changing even though some marketing managers believe that traditional festive time is very good for companies to launch its new products and increase its market penetration.
Motorola Inc, Whirlpool, Lenovo, Hyundai Electronics, Maharaja Whiteline and Sony India are going ahead with their festive plans. Hyundai Electronics has earmarked a budget of Rs 5 cr; Sony has set aside $10m for the season, Maharaja Whiteline would be spending 60% of its promotional budget during this period. Sukhpreet Singh, General Manager, brand marketing, Whirlpool Of India sums it up aptly. Mr Singh says, “Though we have sales coming in throughout the year, the festival season spike is very much a reality.”
Automobile companies like Maruti Udyog, Hyundai Motors India and Honda Siel Cars India are also running marketing campaigns that offer discounts, loyalty bonuses and gift cheques.
Even retailers also believe that it’s a right time to promote and push your product and brand. Subhiksha a big brand name spending huge on marketing and advertising. Company have special offers on crackers, fruits and new range of mobile phones.
various web portals and Internet services offered diwali bonanza offers on chatting, voice chat etc.
I personally believe that its good that we are following new trends and culture but still we markerters believe that these festive season really matters in sales and revenue of companies.
To check out various offers from different companies click on below links:
VIDEOCON offer in Hyderabad
LG offer for Internal customers i.e. channel partners
Offers from CAR manufacturers
Thanks for visiting..........
PASSIONATE MANAGER
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