The year is expected to be marketing heavy for consumer durables brands: Priyanka Sethi
The first half of the year 2023 has been a rollercoaster note, with an accelerated adoption of generative AI, AI chatbots, and digital innovations. This is bringing in new operational efficiencies, stronger strategies, a far greater emphasis on building deep bonds with various stakeholders and consumers. In keeping with the current market ecosystem, technology and a human approach are seen as going hand in hand.
Adgully’s TRENDING NOW series has been presenting important insights from key industry leaders, who highlight the major trends and developments that they see dominating the industry in the current times.
In conversation with Adgully, Priyanka Sethi, Director and Head of Marketing, Haier Appliances India, speaks about key trends in the consumer appliances sector, rise of data analytics, keeping up with changing consumer preferences, Haier's commitment to sports and entertainment, and more.
Key trends dominating the consumer appliances sector
Digitalisation is opening infinite new doors for the consumer appliances sector in India, brands are significantly increasing their utilisation of digital marketing tools that are surpassing the scale and reach of traditional marketing methods. This shift is driven by the fact that users now spend an average of approximately seven hours per day on their smartphones, resulting in heightened engagement rates.
Brands recognise this as a valuable opportunity and capitalise on it accordingly. Moreover, as digital advertising expands its presence on emerging social media platforms, brands will effectively tap into the interests and preferences of a vast number of potential and existing young customers.
The rise of data analytics acts as an important opportunity presented by the digital economy, where one can collect and analyse data about consumer behaviour. Tracking website traffic, social media engagement, and purchase patterns, we gain valuable insights into what drives consumer decision-making and give us the ability to tailor our marketing efforts accordingly. This assists us to optimize our product offerings, pricing strategies, and promotional campaigns for maximum impact. It provides a wealth of data analytics that can be used to optimise campaigns and improve ROI on our investments in marketing.
Haier’s utilising the same to improve customers’ end-to-end purchasing experience through personalisation of various platforms, use data to understand customer demographics and tailor their marketing messages through data and analytics based on factors such as location, demographics, and online buying behaviour such as monitoring the purchasing behaviour of customers, their browsing on the website, etc. With constantly changing needs of the buyers and unlimited options available in the D2C brand segment brands will need to focus on improving their capabilities.
Major expectations from second half of 2023
The consumer durables market in India is undergoing a significant transformation, with more and more consumers investing in their homes and seeking innovative and time-saving solutions. In fact, India is set to become the fifth-largest consumer durables market in the world by 2025, according to a report by IBEF. This growth is being driven by factors such as rising disposable incomes, changing lifestyles, and increasing urbanisation.
In 2023, we can expect to see a continued focus on innovation and technology in the consumer durables sector. Brands are striving to keep up with changing consumer preferences and offer products that are functional, aesthetically pleasing and energy-efficient. With the rise of e-commerce and digital marketing, brands will also need to adopt new marketing strategies to reach consumers where they are.
Moreover, the year is expected to be marketing heavy for consumer durables brands, with a focus on digital marketing, followed by TV and Print. Brands are creating engaging content that resonates with consumers and showcases the benefits of their products. With the increasing use of smartphones and other digital devices, brands will also need to leverage their websites, online stores and ecommerce platforms for creating consumer experiences and meaningful connections.
Haier has recently become the Official Partner of the Roland-Garros tournament and had also partnered with JioCinema as the Digital Streaming Sponsor of IPL 2023. These partnerships are a testament to Haier's commitment to sports and entertainment, and our focus on creating engaging content and experiences for the customers. Haier’s focus on sports partnerships is part of the brand’s strategy to create a strong brand recall for itself.
At Haier, with the right strategies and investments in innovation and marketing, we’re capitalising on the growing demand for home appliances and establishing ourselves as a premium brand in the market.