#TheAct – Festive season amidst the pandemic – Part 1
September to December happens to be the peak period for businesses, a quarter that accounts for 30-40% annual sales. It’s that time of the year where brands go all-in at advertising their festive sales and discounts. Although this time is different, brands are communicating safety, value, and hygiene. It’s a passé to say that COVID19 has changed the world we knew.
The retail sector has showcased flexibly and stiff resilience to keep up with the disruption, but the festive season brings in new challenges a brand has to address:
Dynamic scenario planning:
Break your marketing strategy down to three scenarios, the ‘business as usual’ ‘worst-case scenario’ and a ‘moderate-case scenario’ anticipate the possibilities and map your marketing tactics accordingly. ‘Festive marketing’ is a real challenge because the advertising space is overcrowded, now more than ever because every brand would try to secure a spot to balance out all the lost opportunities from the lockdown.
Understand customer sentiment and behavior:
The retail industry thrives on proactive thinking, and this requires it the most. Purchase cycles have migrated online, and experimenting with digital outreach will be the key for brands this festive season, and affordability will remain top of the mind. With concepts like #VocalForLocal and #MakeInIndia, people want to feel good about buying from homegrown brands, a purchase that makes them feel proud to support these businesses. Analyze the VoC (voice of your customer) and build a communication strategy that establishes a deeper connection with your target groups.
The consumers have already simplified their choices. We covered this in our last blog. The season could revive our economy and its a crucial quarter for all brands. In the next blog, we talk to some top brands in the country about their festive marketing strategy. Watch this space for more.