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
