In the second half of 2023, India Inc. probably will increase its advertising spending by 20–25%

18 Jul 2023 , 01:33 PM

In the second half of 2023, executives predict that spending on advertising and consumer promotion will increase by a record 20 to 25% annually, driven by the Cricket World Cup, a wet summer that forced businesses to delay ad expenditures, and the holiday season.

Sectors including e-commerce, fast-moving consumer goods (FMCG), travel and hospitality, clothes and fashion, fintech, finance, retail, and autos are anticipated to lead spending, according to the analysts.

Asian Paints, Raymond, Titan, TVS Motor, and Marico are just a few of the brands that Madison World represents.

According to news reports, Executives predicted that launches that were delayed from January to June due to inflationary pressures or unseasonal rainfall will resume in the second half of the year.

India is hosting the World Cup on its own for the first time, thus even unconventional sponsors are showing interest in the occasion.

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