Will OOH sector get a festive boost?
A lot of hope rests on the festive season this year with people getting vaccinated, IPL coming back, large turnouts in the markets & heavier traffic on city roads, said OOH players
Mumbai is returning to normalcy with large turnouts in markets and shopping malls resembling a festive rush setting aside Covid fears, these are an indication of the recovery of the OOH industry.
According to industry leaders, OOH advertising is in a revival stage irrespective of the slight economic dent that transpired due to the second wave. The OOH sector is now picking up its pace during the festive season with the markets slowly opening up and roads seeing heavier traffic.
The monotony of staying at home is gradually breaking and people have started venturing out for day-to-day errands and other work. This especially holds true due to the fact that more and more people are getting vaccinated every day and don't hesitate in following standard covid protocols. Brands too have taken note of the changes and have started coming on board, making OOH owners and agencies breathe a sigh of relief. The footfall on the streets is amplifying which has, in turn, allowed brands to leverage and communicate with the consumers.
While the festive season spends may not be huge unlike previous years, OOH players are positive that it will certainly lead to the economic betterment of the sector. The general perception in the industry is positive, as brands look at OOH as a potent media mix, especially ahead of a big event like IPL. On another optimistic note, the increase in mobility due to the ease in the Covid restrictions has brought about a positive outlook for the industry along with relaxations in the functioning of restaurants, metros, and malls.
e4m spoke to OOH players about the on-ground reality of OOH advertising in the city, and how the overall business is spurring during this festive season.
Talking about the opportunities for brands this year, the general perception in the industry is that there is hope if brands look at OOH as a potent media mix, especially for a big event like IPL.
Sharing his perspective on this year’s festive outlook, Jayesh Yagnik, CEO, MOMS Outdoor Media Solutions, said, “Come August, OOH has shifted its gear and things are moving at a good pace. Since more and more people are getting vaccinated, mobility is substantially increasing. All the brands would surely want to take advantage of this and we have good visibility this festive period. We are very hopeful that this momentum will continue and we should have an overall good year for OOH.”
“Clients have a plethora of options in OOH these days, with the newer inventories in major markets. The upcoming festive season is clubbed with IPL this time, which is enabling better opportunities for brands to explore and not only in static OOH but also various options in the space of DOOH,” he added.
Talking about their expectations from this year's festive season, Gulab Patil, Founder & CEO, Lemma said, "The fill rate for DOOH inventory has substantially improved with the start of the festive season. The last week of Aug'21 saw many brands exploring the outdoor space and this demand for OOH inventory is consistently increasing week on week. A significant number of queries are coming in for the IPL season, which is no less than a festival in a country like India. The brands, however, are leaning more towards inventory that validates audiences and other data that make the campaigns robust, brand safe while also providing scope for optimization & creative change in due time. If we continue at the current pace, DOOH will recover back to pre-covid volumes, at least in terms of fill rate and ad occupancy, subsequently improving overall business generated."
Sharing his insights on the revival of the overall inventory, Rajneesh Bahl, CEO, BRIGHT Outdoor Media said, “We are known for the quality of assets we have at BRIGHT. Markets have picked up and traffic on the road is back to normal, thus creating a higher demand. The festival season has bought in positive sentiments and given a boost to outdoor media. I believe this festive season will mark the comeback of the OOH industry. And we are offering innovations to our clients to make their campaigns stand out this festive season.”
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