New Delhi, September 9 2018: Criteo , the advertising platform for the open Internet, recently released a trends report ‘Acquire, Convert and Re-engage’ which finds that Online is emerging as the fastest growing channel in India for ad-spends.
The Criteo-commissioned study conducted by Euromonitor, surveyed Indian CMOs and marketers and analysed local data to reveal the current state of play in India’s marketing and advertising landscape.
Based on the report’s findings, Criteo predicts that 87% of total marketing budgets would be invested in the online space by 2022, with more than 23% of users having 2 or more connected devices. This report also takes a deep dive into the commerce marketing world to provide important insight for brands, retailers and marketers.
The report reveals that print and TV continue to dominate company ad-spend. The investment in traditional print advertising has gone up by 13.2% annually since 2014, while that of TV gone up by 11.7%.
Amongst all these channels, online is one of the fastest growing ad-spend channel in India. It showed a persistent growth from 2014 to 2017, with investment almost doubling in the given period.
For marketing spend, paid display advertising is occupying a prime spot in the budgets, with 19.1% of total marketing budget allocated last year, followed closely by traditional marketing at 13.2%. The report also states that retargeting accounts for 42% of Paid Display Advertising spend and Search Engine Marketing is the next major digital marketing focus in India. Marketers have started scaling up their spends on this medium by leveraging its potential to reach newer shoppers.
Said Siddharth Dabhade, General Manager, India, Criteo in a telecon with IndiaTechOnline: “We’re seeing interesting trends in the marketing landscape that are shaping India marketers reach their audience. The way we shop is changing, and so is the way marketers need to work for acquisition, conversion and retention. We are seeing a steady rise in the number of active mobile users in India. As a result, content is getting consumed constantly on 24/7. Inevitably, marketers are also adapting to this change and redirecting their budgets to digital channels."
He concluded: " Now is the perfect time for marketers to acquire, convert and reengage with customers constantly by leveraging the retargeting technology.”
Criteo recently launched its Customer Acquisition solution in India -- the second country after Australia in the AsiaPacific region. The tool helps retailers reach and target new customers using dynamic advertisements and presenting products most dynamically.
Criteo is the advertising platform of the open Internet, that enables e-commerce companies to leverage large volumes of data to efficiently and effectively engage and convert their customers. Criteo team members partner with over 18,000 customers and thousands of publishers around the globe to deliver effective advertising across all channels, by applying advanced machine learning of the Criteo Engine to unparalleled data sets.