WHY IPL IS KEY FOR CONSUMER DURABLES IN SUMMER?

BY TEAM IMPACT

As TATA IPL returned this season during the Indian summer, it has presented a massive opportunity to consumer durables brands to drive instant impact among the masses. Over the years, the mega-event has been the go-to platform for brands looking to propel their reach within a short period and with Indian summers getting hotter than the usual, advertising during IPL is imperative for summer brands to gain an edge. According to Sanjay Tripathy, Co-founder & CEO, Agilio Labs, “Despite the pandemic and high commodity prices, AC sales in the country have still increased. In 2019, the AC market sold 65 lakh AC units. After a bad year in 2020, the year 2021 too registered the sale of almost 50 lakh units. As per industry estimates, the 2022 sales will be around 8.5 to 9 million units almost 70-80% higher than last year.”

As a result of growing demand, multiple consumer durables brands have taken to advertising on TATA IPL 2022 on television to command an increase in their market share within a short period of time.

Speaking on the opportunity provided by TATA IPL, Santosh Desai, MD & CEO, Futurebrands says, “The advantage of IPL is that you get continuous attention of a set constituency for the duration of the tournament. A major part of this constituency is also the target audience for a category like consumer durables and advertising on IPL would give them an advantage.”

Reports suggest that there is a considerable difference in key performance indicators consumer durables brands that have come aboard IPL as opposed to brands that haven’t. In the previous edition of IPL, while the AC category as a whole witnessed a 36% growth in search volumes, Voltas, which advertised during the event witnessed a 47% growth in search volumes. Consequently the AMJ quarter market share for Voltas increased from 23.5% to 24.1%, showcasing the impact advertising on IPL has on brands looking to command a higher market share.

Leveraging IPL on TV

To drive sales during the 3-month long Indian summer, brands aim to be in the minds of consumers constantly and IPL is that platform which grabs consistently high eyeballs. For brands looking to break the clutter, IPL provides the perfect platform. Avik Chattopadhyay, Co-Founder & Partner, Expereal says, “A brand must take the platform of IPL to make a new product or service announcements/launches. That is what really drives growth. The coinciding of the event with a specific season is a terrific opportunity for AC brands to squeeze out the most.”

The edge that advertising on TV during IPL gives is clinical for brands given multiple brands are leveraging associating with the league. 90% of TV households in India tune into IPL, making it an unmissable platform for summer brands. As per Dipika Bhasin, Executive Vice President – Planning, Carat, “IPL on television has a lot of options to target - key teams’ matches, sponsorships and language feeds for marketers. With AC makers expecting double-digit growth in 2022 amid looming price hikes, IPL certainly allows them to drive incremental reach and high-affinity scores amongst Target Audiences. Competing brands can drive positive outcomes without cannibalizing each other given this IPL season brands have a plethora of opportunities to leverage on television with more matches and teams than the previous season.”

Tags : #Impact #exchange4media #IPL2022 #IPLmatches #consumerbrands #massmedia #TATAIPL #summercampaigns