Consumer durables advertising shows 2.9x growth on TV and 81% digital dominance in H1 2024, says TAM report – Brand Wagon News

As the first half of 2024 unfolds, the advertising landscape for the consumer durables and home appliances sector reveals a competitive environment. From January to June 2024, television advertising volumes in this category grew significantly, showing a 2.9 times increase compared to the same period in 2022 and an 11% rise over H1 2023, according to the TAM AdEx report. This growth is particularly interesting when compared to the 2.6 times increase noted in the previous year.

Leading the advertising charge are Godrej & Boyce Mfg Company, Usha International, Voltas, KCM Appliances, and Sivanesan & Co, who dominated the rankings as exclusive advertisers in the top ten for H1 2024. Godrej Eon Vogue Edition took the top spot with a 33% share of ad volumes, showcasing the impact of product innovation on advertising strategy.

The programming genre also played a vital role, with News and General Entertainment Channels (GEC) together accounting for 65% of ad volume share. News Bulletins emerged as the preferred platform for promoting these brands, indicating a possible shift towards serious content to engage viewers.

How Ola’s mishandling of negative publicity sparked a social media crisis

BFSI sector sees 19% increase in TV ad volumes and 74% growth in digital impressions in H1 2024, reveals TAM report

Operating losses of state discoms to remain high this fiscal despite a 15-20% dip, dependence on govt support to continue

91% of Indian consumers plan festive purchases, with 43% favouring mobile shopping: reveals Glance report

In contrast, print advertising for consumer durables faced challenges. The TAM report notes a 3% decline in Jan-Jun 2023 and a further 9% decrease in Jan-Jun 2024 compared to the same period in 2022. The drop of 6% from the previous half-year signals reduced confidence in print as an advertising medium. TTK Prestige India and Stovekraft maintained their positions, with 41% and 21% shares of ad space, respectively, despite a contracting market.

The South Zone emerged as a key player, capturing 33% of the print ad share in Jan-Jun 2024, closely followed by the North Zone. Remarkably, 81% of print ad space focused on promotional offers, highlighting the industry’s reliance on discounts to attract price-sensitive consumers.

On the radio front, the consumer durables sector reported a 6% growth in ad volumes in Jan-Jun 2024 compared to the previous year. However, when considered alongside a notable 2.3 times increase over Jan-Jun 2022, radio remains a relevant channel, albeit with varied outcomes. Ad impressions rose by 5% in the latest half, contrasting with a 19% drop in Jan-Jun 2023.

Samsung India Electronics led the radio category, accounting for 28% of ad volumes, while Gujarat topped with a 35% share of ad volumes, illustrating a targeted effort to engage consumers through audio platforms.

In the digital space, programmatic transaction methods dominated, representing 81% of impressions in the consumer durables category. This trend highlights a clear preference for data-driven advertising approaches that enable brands to optimize their reach.

Samsung India Electronics solidified its presence with a 25% share of category ad impressions in Jan-Jun 2024, while the top two advertisers combined accounted for 34% of impressions. Asustek Computer Inc made its debut in the top ten advertisers, demonstrating that innovation extends beyond products to advertising strategies.

As brands navigate the shifting landscape of consumer engagement in H1 2024, the insights from the TAM report emphasize the need for adaptive strategies. With television experiencing growth, print facing decline, radio showing resilience, and digital strategies gaining traction, the consumer durables and home appliances sector is poised for an interesting second half of the year.

The key question remains: will these advertising currents maintain their momentum, or will the tides shift again in the dynamic realm of consumer engagement? The answers lie just ahead.

Follow us on Twitter, Instagram, LinkedIn, Facebook

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}