Liquor firms ride the digital wave; as it tries to fasten recovery

Experts believe that brands can make the most of online medium by curating exclusive digital campaigns which were otherwise worked upon during major events only

Ending the drought for what it may seem, several state governments including West Bengal, Odisha, Maharashtra, Jharkhand and Delhi among others have allowed home delivery of liquor. This move also allows the state governments to fill in their reserves, which has been an ongoing struggle post the pandemic. To cash in on the opportunity, liquor firms have begun amplifying marketing efforts on digital. “The online delivery of liquor is still at a nascent stage and once people get a fairer understanding about the process with the setting up of a concrete policy, it is certain to add to the growth of the liquor industry and could even be a game changer in the long run. The online mode is expected to become a more preferable and time-saving option for consumers and more so for the women folk who would like to avoid visiting crowded shops,” Amar Sinha, chief operating officer, Radico Khaitan, told BrandWagon Online.

According to industry estimates, ad spends by alcohol-beverage companies stands close to Rs 650-750 crore. Due to restrictions on advertising, alcohol manufactures often take the route of surrogate advertising. Interestingly, in the last one year much of the ad dollars have moved to digital with spends increasing to about 25-28% in the current fiscal year as opposed to 18-20% in FY 2019-20. “From an advertising perspective, rules and guidelines would need to be looked at. Prima facie, owned platforms like websites, social platforms, e-commerce and delivery platforms like Swiggy, Zomato and other like-minded platforms will become an important part of the overall marketing mix,” Gopa Kumar, COO, Isobar India, said.

For the alco-bev industry, digital has allowed it to understand and learn emerging consumer trends, Prabhtej Singh Bhatia, CEO and co-founder, Simba Craft Beer, said, adding “Brands are utilising their digital assets through content marketing to engage with their consumer base on a real-time basis by sharing fun, engaging, informative and relevant content via live sessions, videos, pictures, and timely updates. The online platform, especially social media, has empowered all of us to stand together as one and battle the pandemic by sharing and spreading awareness about Covid-19 and amplifying resources and covid aid.” The company further expects that with a rise in in-home consumption, accelerated vaccination drive and the initiation of home delivery of alcohol, will help in the recovery of sales this year.

Moreover, with restrictions on direct advertising across mediums such as TV, print, among others, online routes such as social media have allowed brands to showcase products in an appealing and descriptive way. “As compared to 2019 where 30% of the advertising dollars were spent on digital platforms for October-December quarter, approximately 60% of the marketing budget in the corresponding quarter of 2020 was used up for digital marketing such as social media and OTT. In order to sustain brand loyalty and engagement with our consumers, we will be continuously looking at a significant share of our spends towards digital,” Sinha stated.

Experts believe that brands can make the most of online medium by curating exclusive digital campaigns which were otherwise worked upon during major events only. “Brand campaigns need to be strong because there is now an opportunity for brands to be able the complete the purchase cycle right then and there. They should continue to engage with customers and via surrogate brands do some meaningful conversations with customers to improve their awareness levels and build preference. Since paid marketing is not allowed on social media, it depends on how interesting their content is. If the content is interesting, they will get better reach organically,” Ambika Sharma, founder and managing director, Pulp Strategy noted.

Read Also: As brands make a beeline for K-Pop, India too soon to become its playground

Follow us on Twitter, Instagram, LinkedIn, Facebook

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

BrandWagon is now on Telegram. Click here to join our channel and stay updated with the latest brand news and updates.

Source link


A Brief History of Fiverr’s Out-of-Tune Marketing Campaigns

What do I know about thermodynamics, marketing, and freelancing? I'm just a humble and overweight Noonies2021 nominee for the Critical Thinker of the...

Glimmer of hope seen in India, but virus crisis not over yet

For the first time in months, Izhaar Hussain Shaikh is feeling somewhat optimistic.The 30-year-old ambulance driver in Mumbai has been working tirelessly ever...

Is Buying A Suzuki Mehran Car On Finance Worth It?

The people of Pakistan now have a convenient option of buying a Suzuki Mehran car on finance through PakWheels Car Finance service.

Plant-based ingredients maker Motif FoodWorks raises $226 mln in funding

Article content Motif FoodWorks, which makes plant-based ingredients and flavorings, said on Wednesday it had raised $226 million in a Series B funding...

How to Handle IP Infringement Issues?

Intellectual property is the main asset of increasing business value and market potential. Failure to respect your business's intellectual property can result in devastating...