Indian consumers are spending more and so it does not come as a surprise if Neilsen’s recent report states that India is leading the ad spend market in overall Asia. Indian consumers have now the pocket to spend and the willingness to upgrade; be it any class of the society there is this inner need and aspiration to move up to the next level of lifestyle amongst most Indians. They are aware of the global trends and are looking at mediums to garner more info about latest products & fads. Lots of Indian & global Brands do recognize this ambitious consumerism in India and are not hesitant now on spending their bucks at the right place. They know that as long as they are able to create that appeal, fulfill their needs and cater to their aspirations, they will get the results on their spends. Here are some interesting facts from the report which further highlights the increasing statistics of ad spend in India:
According to this survey, India saw a 28 % year-on-year growth and a 32 % growth in the second quarter of 2010 as compared to last year in ad spend on mainstream media (via). Overall, across the 12 markets in Asia Pacific the Q2 ad spends showed a 15 % lift over Q2 2009, and a 17 % lift in the first half of 2010 over the same period in 2009. Of significance, is the fact that after the first half of 2009 which saw a minimal 3 % lift over 2008, the first half of 2010 recorded an impressive 20 % increase over the ‘pre- global financial crisis’ period of 2008. India recorded a 33 % increase in the first half of 2010 over the same period in 2009.
Across the region, advertising spends are highest on television, but the largest proportion of India’s media spend was garnered by newspapers. Newspapers are also the highest ad spend growth drivers in India, growing at 32 % year on year; the highest percentage growth for newspaper ad spends across all 12 markets covered in the Nielsen survey. Overall, newspaper ad spends grew by 17 % year on year in the region.
Television followed newspapers in spend growth and grew at 24 % in India and 16 % regionally. Amongst mainstream media, magazines saw an 8 % Y-O-Y increase in ad spends in India and a 9 % growth across the 12 markets in the Asia-Pacific region.