68% of women take charge of the festive buying decisions: Carat report

Carat - the media agency from dentsu India, has launched a festive reckoner, ‘Reimagining India's Festive Landscape 2023’. Inspired by the philosophy of the agency’s global framework - 'Designing for People', the report offers a perspective to revolutionize brands' approach to the upcoming festive season in India. 

Every year, brands invest a chunk of their resources to decode shoppers and analyze consumer behavior, limiting their expertise in reaching out to a sect of consumers. However, the need for marketers today is to transform their approach to holistic consideration of the fundamental shifts that consumers witness during the festive period.                                        

The report highlights insights into the varied phases of an individual’s journey to becoming a festive consumer. It is designed to enable brands to craft a robust people-centric engagement plan that can target consumers across the marketing funnel. 

As per the report, approximately 65% of people witness an uptick in their spending during the latter half of the year. Also, People in their browsing stages often spend between 1.5 to 2 months in the research phase. It further states that 68% of women take charge of the decisions.

The key principles that brands should emphsize on this festive season: 

• Prioritize attentive reach 

• Inspire celebration 

• Differentiate with Distinction 

Sanchayeeta Verma, CEO, Carat India said, “I am super excited to launch this study. Carat has always been a front-runner in bringing to life some core in-depth industry insights. This festive report further exemplifies our expertise in the domain.  It has been created on the key pillars of our DFP framework and incorporates the learnings from our attention economy and Lumen studies.  The intrinsic details captured in the report will allow brands to develop a renewed sense of purpose, better understand their TG, and tweak strategies to swiftly navigate through their journeys.” 

Anita Kotwani, CEO Media, South Asia, dentsu added, “Dentsu inherits a futuristic forward-looking approach, finely driven by thought leadership. We take utmost pride in launching this first-of-its-kind festive report, a certain go-to for every marketer. In India, advertisers spend a massive 30-35% of their annual budget during the 45-day festive period. Thus, being distinctive in their media strategy can be a complete festive game changer. The report offers some deeply rooted cultural insights from across geographies to enable brands to creatively customize their media approach and maximize their attentive reach.”