Unlocking Festive Trends 2022

Authoured by Samiksha Saxena Director- Brand Planning Mirum India

ALast two years has been fluctuated times for industries within consumer goods. 2020 was the year where Festive GMV (Gross marginal value) was slow  and even in 2021 the revival was only about 23%. However, 2022, the year comes with a lot of expectations. D2C brands are expected to grow 2X during this festive season which will also impact e-commerce sellers in boosting their sales

As per Numerator, shoppers are expected to bring home festivities early this year. There has been a lot of behavior changes in the consumer mindset which has resulted into more conscious decision making from financial and emotional standpoint. It is interesting to observe that the consumers are now more than ever exposed to understand the difference between need and value which leaves marketers and brands to re-look their festive strategies.

Consumers are coming out of an on and off pandemic. The promise of value matters more than loyalty and convenience to this modern consumer who has been exposed to a lot of changes during the last two years. While price still dominates the decision-making but so does value. Brands that talk long-term benefits in terms of utility or experience will be high in demand. Brands that offer exclusivity or focus on unique offerings will also experience a good sales outcome.

Some of the new spaces of trends have emerged for the festive season and it will be interesting for brands and marketers to see how stay relevant in this season

 

  1. Digital Gifting: Virtual gifting has become a habit in the last two years and is expected to continue in 2022 as well. So NFTs, digital gift card, D2C online gifting portals are expected to get higher traffic during the season 
  2. Mash-up collaborations: Complimentary but unexpected brand collaborations expected this year! 65% of shoppers said they get more excited when brands come together. Culturally strong collaborations for product, service or just delivering a unique experience, is where we can expect mashups happening the most. 
  3. Carbon-neutral festive: 39% of young adults feel it is very important to adopt to sustainable brands. Therefore, products that have less or minimal impact on environment will be the one making it to the cart. Whether it is purchasing an electric vehicle or buying sustainable products in fashion or lifestyle, green would be ruling colour during the festive season
  4. Immersive #Nostalgia: After 2 long years of cancelled plans, 77% users feel that they feel the most nostalgic during festive seasons especially due to the on-going pandemic. This means, brands that can tap into the traditional meaning of festivities merged with today's reality for a strong storytelling narrative
  5. Mindful spaces: It is expected for brands and marketers to be more mindful of diversity and inclusion when narrating a good story. This means they should showcase 
    1. - niche segments of society that haven't been exposed to celebrations (expats who couldn't make at the home coming, single parents, older parents)
    2. - less privileged sections of society( guards, house helps, blue collar works or 
    3. - include communities (LGBTQ+, physically abled etc.) 

2022 looks like it’s going to be a braver season for all marketers, and it will be exciting to see how brands tap into the current contexts of ever-evolving consumer behavior

 

DISCLAIMER: The views expressed are solely of the author and Adgully.com does not necessarily subscribe to it.

 

 

 

Marketing
@adgully

News in the domain of Advertising, Marketing, Media and Business of Entertainment