March 29, 2023
Business

Outdoor Advertising Industry Gets a Festival Boost

City Reporters Web Desk
Read Time:2 Minute, 41 Second

The advertising billboards are going up once again in a full swing, and the prospects of the outdoor advertising industry are looking up after being grounded by the covid19 pandemic. The economic fallout of the crisis has been a lot harder on this segment with billings drying up by a sizable amount. The recovery since then has been substantial, at least on a consistent basis. Revenues on August 22 and September 22 have now recovered to as much as 150% of last year because of festive spending and the growth in business seen in the market, advertising industry executives said.

As the curbs were lifted, businesses within the cities, as well as inter-state travel, increased. “This boosted the festival season business and customers coming back to the markets. It is just the right time to reach the consumers, potential buyers through Outdoor Advertising (OOH) media,” said Shubham Jain, Marketing Head, Shubindia Ad Works, an integrated outdoor media agency.

“We started seeing an satisfying growth in outdoor ads from August. The festive season OOH ad spending has managed to revive and bounce back to 150% of what brands spent last year,” he said. Companies across automobiles, smartphones, jewelry, banking, financial services, insurance, telecom, e-commerce, video-streaming platforms, and real estate are driving the recovery. Spending has been particularly strong in markets such as Pune, Mumbai, Alibag, and the Rest of Maharashtra.

“Whether it was SBI, JSW, Adani, Tanishq, JioMart,  Amazon, Flipkart or local players across cities, multiple outdoor campaigns are running throughout the festive season. We have also witnessed higher media occupancy in smaller cities than metros,” said Mr. Jain. Shubindia Ad Works and State Bank Of India (SBI) mounted the brand’s festive Yono Cash, PBBU festival, and Home Loan campaign in Pune. Launched on 21st September, the OOH campaign was part of SBI’s 360-degree campaign for the new festive offers and is on for 3 months. It used various OOH media across Pune to maximize impact and reach the target audience, the company said.

Regional brands such as Suhana, Oxycool, Oxyrich, Jaihind, Solitaire, Chitale, Laxminarayan, Cottonking, Raheja Group, Vtp Group, etc have also started advertising as companies are ready for grabbing the festive business of Ganpati, Navratri, and Diwali. “The road to recovery in OOH has been decent since July and traction is visible across national and regional markets,” said Mr. Shubham Jain, Shubindia Ad Works, a full-service advertising agency. “Even at regional or local-market level, Outdoor advertising has been actively used by local businesses, especially real estate, education, and retail businesses,” he added. Mr. Jain said that he expects the outdoor advertising industry will flourish further in the coming months.

“By this quarter of 2022 with the festive season ahead, the new budget calendar of global and national clients, OOH spending will improve rapidly. I am hopeful marketers will choose OOH medium to advertise and connect with their target audiences across regions which will give them the best ROI.” he added.

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