Indian Market Update on Covid-19 impact

Content:

– Impact of Covid-19 in India
– Effect on Media & Marketing
– Consumer Behavior Trends

Impact of Covid-19 in India

  • 3 Months to Reach 1 Million, 2nd Million in 13 Days, 3rd Million in 11 days
  • As government eases lockdown 3.0 conditions, the economy gears up to make Muted start on subdued demand
  • Loss of jobs & daily wages likely to push another 350 MN Indians into Poverty; Market leaders expected 4-6 Months for Disposable income to come back.
  • Despite the uncertainty, Indians are highly satisfied with the Govt’s response to the Pandemic & expect things to improve going forward
  • Social chatter post extension announcement revolved mainly around discussing Zonal relaxations & impact on economy And GDP

Effect on Media & Marketing

  • TV consumption is stabilizing – 1.16 trillion mins in week 16, 6% W-O-W Drop but 31% growth over Pre-Covid Period
  • News & movies share has started to Taper from Week 12, But continue to operate at 2X levels over Pre-Covid
  • Increase in time spent on social networking , gaming & video streaming apps on Smartphone
  • CPG companies continue ti forge & advertise new tie-ups to consumer this week
  • Auto companies move online to push sales
  • Brands turn to influencers as lock-down continues in India

Consumer Behavior Trends

  • India have witnessed one of the strictest lockdown globally as visible in the Google mobility data
  • After over a month into the lockdown, life is starting to stabilize & paranoia of post lockdown phase is starting to lessen
  • As consumers start preparing for life post lockdown, technology gains prominence with highest continued impact on work and studying from home
  • Covid pandemic is accelerating key consumer trends, and technology will be a key enabler in driving ecommerce, telemedicine, Ed-tech & digital entertainment

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