Pepperfry’s festive season marketing budget for 2024 is up 20% YoY: Mahip Dwivedi

This time of the year marks one of the most crucial periods for businesses as consumer sentiment is at its highest, with spending patterns reflecting the festive spirit. From offers and discounts to large-scale campaigns and personalized engagement, brands are exploring every avenue to stand out in a highly competitive marketplace. The rise of digital marketing and the increasing role of e-commerce have also intensified the focus on omnichannel strategies, ensuring that consumers are met with consistent messaging across both online and offline platforms.

Adgully’s special annual column, FESTIVE MOOD, delves deep into the intricacies of these marketing activities, offering a holistic perspective on the trends that define this season. From ad spend projections to consumer behaviour analysis, the column covers all aspects of the festive landscape. It highlights how brands are planning to position themselves, what marketing strategies are being adopted, and how consumer sentiment is shaping the promotional and communication tactics being deployed.

In this interview with Adgully, Mahip Dwivedi, Vice President and Head of Marketing, Pepperfry, speaks about the brand’s approach to the festive season in 2024. With a keen focus on consumer sentiment and market trends, Dwivedi shares insights into how Pepperfry is adapting its marketing strategies to stand out in a competitive landscape. He also discusses the importance of brand trust, innovative campaigns, and a significant increase in the advertising budget, emphasizing how these elements contribute to enhancing the festive shopping experience for consumers.

What are your observations on the overall consumer and market sentiment during the festive season this year?

Like every year, consumers are not just focused on deals or pricing. This year, brand trust and assurance, along with value for money and a strong product assortment, are more important than ever, especially considering the overwhelming number of ads consumers are exposed to daily. Breaking through the clutter and maintaining top-of-mind awareness at every touchpoint throughout the consumer journey is crucial, given the fierce competition expected this festive season.

What forms the core of your festive marketing strategy this year?

The core of our festive marketing strategy this year is centered around bringing Fashion to the Home, showcasing joy, fun, and togetherness in a festive mood across all the campaigns we have released.

Could you tell us about your campaign strategy for the festive season?

Our campaign strategy for the festive season focuses on maintaining top-of-mind awareness by assuring consumers of the best pricing along with a wide range of furniture and home products. The recent festive video highlights how celebrating festivals like Diwali can also be about making your home fashionable, as showcased in our ‘The Big Diwali Furniture Sale’.

(https://www.youtube.com/watch?v=9vK6krcxYS8)

What is your marketing/ advertising budget for the festive season in 2024? What percentage increase (or decrease) is it compared to the previous year?

Our festive season marketing budget for 2024 is planned to be approximately 33% higher than the average business-as-usual (BAU) month from last year. This represents around a 20% year-over-year (YoY) increase.

Given the increasing fragmentation of media consumption, how are you allocating festive ad budgets across different platforms?

Planning is crucial, so 60% of the budget will be allocated toward digital ROAS campaigns to ensure efficient spending. The remaining budget will be dedicated to brand ads.