Rewind 2023: The transformative trends that drove industry growth this year

It’s that time of the year when we review the most significant industry developments as the year draws to a close. Adgully is reviewing the year 2023 for the M&E, advertising, digital, marketing, PR, and communications, along with leading names in the industry as part of our annual Rewind series.

Anirban Banerjee, Senior Vice President and SBU Head (Batteries & Flashlights), Eveready Industries India:

“In FY2023, the dynamic Indian consumer durables market recorded remarkable growth along with transformative trends. Given the evolving market scenario, consumer durables companies had to review and realign strategies with the changing rural and urban preferences, driven by a demand surge for premium products. Besides urban areas, the demand for premium products is rising by the day within rural regions too. Propelled both by premiumisation and urban demand, the industry expects a robust 8-10% revenue growth in FY2024. When it comes to premiumisation in the batteries and flashlight segment, Eveready has taken big strides this year.

With the launch of the new and improved Ultima Alkaline batteries that are 400% longer lasting while being a perfect fit for high-drain devices, Eveready has positioned itself as a leader in premium offerings in the battery space.

Additionally, Eveready has introduced portable, easy-to-carry, trendy, rechargeable flashlights with various light modes, aiming to expand its premium portfolio in the flashlight segment as well. The battery segment accounts for almost 65% of the total turnover while the flashlight unit contributes 12%.

Undoubtedly, India’s consumer durables market is on a transformative path, shaped by evolving consumer choices, innovative strategies and supportive government policies. Looking ahead at the next fiscal with a focus on inclusive growth, the industry expects an exciting phase in its development.”

Prady, CEO, NP Digital India:

"In today's digital marketing trends, there's a big focus on personalization. Companies that understand the importance of giving customized experiences to customers have a competitive edge. When content and services are adjusted to what individuals like, it makes customers happier and more loyal to a brand. Using data insights to know what customers prefer is key to providing content that suits them. This move towards personalization shows a wider change in how businesses approach digital marketing, putting customers at the center. It's about making interactions more meaningful and tailored. As companies realize the value of offering special and individual experiences, the digital world is changing to be more focused on customers and their preferences."

Bimal Tarafdar, Chief Marketing Officer, Weikfield Foods:

"With the increasing nuclearization of families and dual working households, there has been a distinct change in the direction of the food and beverage industry that has impacted urban Indian kitchens. This has resulted in the proliferation of convenient and time saving options for home cooked meals in the form of pre-packaged and ready-to-cook and ready-to-eat food products, mixes & meal kits. This trend opens up opportunities for companies like us to innovate in packaging, preservation technologies, and healthy ingredients to cater to this demand like our Ready To Eat Custard and Fortified Pasta range

Alongside convenience, there's also an increasing focus on health and wellness in food choices. Consumers are more aware of nutritional aspects and are seeking healthier alternatives.

This trend is driving innovation in product development, with an emphasis on low-calorie, organic, and nutrient-rich options. Food labelling and transparent information about ingredients and health benefits are becoming increasingly important.

Another interesting change that has also been observed lately is that the male family member is also playing an increasingly active role in the planning and cooking of meals for the family. This change will mean we would have to diversify our marketing strategies and product designs to appeal to a broader audience, including men. It also necessitates creation of educational content aimed at those who are newer to cooking."

Shaily Mehrotra, CEO and Founder, Fixderma:

“The year 2023 has added more innovation in our journey of revolutionising skincare backed by science. Our unwavering commitment to offering clinically researched head to toe skincare solutions for diverse ages and skin types resonates in the successful introduction of groundbreaking products. From the first time ever in Indian market additions to our sunscreen range with our kids roll on, SPF 50 sunscreen sticks for outdoor sports in 4 exciting colours, to ending the year by launching unique haircare solutions for covered hair, postpartum and menopausal hair issues and damaged hair due to chemical treatments, under our Kairfoll range, our breakthroughs stem from our expertise in dermaceutic skincare formulations, ensuring successful customer experience and solidifying Fixderma’s position as an industry leader.

Speaking of the key trends of the sphere, last year we peaked the market with our solutions in hyperpigmentation and acanthosis nigricans and this year, we again are way ahead in the trend of chemical exfoliation aka peeling solutions by launching Peelplex, a range of 17 skin transforming peeling solutions.

We are always focused on our customers and as a brand, we not only are adaptive but also interactive. We have been using digital first solutions not only to reach out to our customers, but also to interact with them whether it is through live chats, podcasts or using AI to analyse the market data and understand our customer behaviour and need. This not only helps us in personalising our marketing efforts but also in sharp targeting.

Looking ahead to 2024, we are all geared up to establish new milestones in the category of dermaceutic skincare with our state-of-the-art manufacturing facility and innovative product line up. We are aiming for a more personalised and tailored customer experience with the help of AI. The coming year will be more about our expertise in sun protection, chemical exfoliation, hair care and hyperpigmentation. We are hoping 2024 to achieve new heights for dermacosmetics.”

Komal Anand, Managing Director, Havmor Ice Cream:

“As we come to the close of the year 2023, Havmor Ice Cream takes immense pride in commemorating the remarkable journey of 79 years, marked by countless milestones of joy and happiness. Onboarding Hardik Pandya as our brand ambassador was a notable leap forward, infusing our brand with fresh vigour and enthusiasm. This further aligned seamlessly with our excitement in announcing the brands association with the Cricket IPL team Gujarat Titans as the official ice cream partner. Our marketing strategy was centred around creative engagement with customers through disruptive campaigns like ‘Havmor Toh Banta Hai’. This approach has profoundly resonated with our audience, making Havmor an integral part of their cherished moments.

Looking forward to the upcoming year 2024, we are geared up for further growth and innovation. Our expansion into newer markets of West and South India and establishment of a cutting-edge manufacturing plant in Maharashtra’s Pune district will lead to further growth. We are also looking at launching a bigger portfolio of ice cream ranges in India from LOTTE. This strategic initiative underscores our commitment to delivering innovative products and offerings to consumers and driving industry disruption. We remain dedicated to comprehending and fulfilling the growing ice cream appetite of Indian consumers in the dairy ice cream category.”

Nilesh Mazumdar, CEO, Sleepwell at Sheela Foam:

“In the year 2023, Sleepwell continued to redefine the essence of slumber, transcending the realms of legacy and innovation. With a storied history spanning over 50 years, Sleepwell’s aggressive expansion and unwavering commitment to comfort have solidified its position as the ‘Sleep Expert’. In 2023, we had not only promised a good night's sleep but also maintained our reign as a market leader.

This year, our focus remained on innovative product development and disruptive communication strategies, evident in our ‘Did You Sleep Well?’ campaign and the launch of the ProNexa mattress. Through our campaign, we cultivated empathy, fostered deeper connections with the consumer and with ProNexa, we delivered superior sleep experiences to our consumers through technological innovation. Our goal is to amplify consumer awareness and appreciation for the excellence offered by branded products, engaging them continually in conversations about the benefits of choosing quality mattresses.

As we step into 2024, Sleepwell is poised to strengthen its position by unveiling pioneering products, orchestrate compelling campaigns and continue our journey towards greater heights.”

Vaishal Dalal, Co-Founder and Director, Excellent Publicity:

“This year around, we concentrated on advertising mediums like programmatic advertising and digital marketing during all the major sporting events. Year on year, the interest in OTT advertising has been increasing and it generally spikes during sporting events like the World Cup, IPL, PKL. Apart from that we catered to sporting hospitality experiences and transit advertising, wherein majority of brands showed keenness in branding in metros, trains and airports as the number of travellers has increased, this was especially the case during the festive seasons. All in all, our year was quite eventful and we proudly catered to 250+ brands in 2023 in the areas of campaign management, media planning and creative strategising.”

Harshit Jain, MD, Founder & Global CEO, Doceree:

“The year 2023 witnessed an incredible evolution within the life sciences ecosystem, fuelled by unprecedented advancements in digital healthcare initiatives. With pharma marketers becoming assertive about the potential of Artificial Intelligence (AI) in creating solutions better and more effectively than ever before, the year witnessed a strategic inclination towards making data-driven decisions across diverse marketing dimensions. The year also witnessed a massive shift in ROI towards script lifts over HCP reach. As we step into 2024, the landscape will continue to redefine itself, embracing personalised strategies that leverage AI and targeted engagement with endeavours of heightened precision in reaching HCPs. At Doceree, we are committed to spearheading this digital transformation, fostering fruitful global partnerships, and empowering the life sciences sector to achieve new milestones in a responsible, ethical and effective manner.”

Ankit Ahuja, Founder, Red Comet Films:

“In 2023, the Indian ad film landscape went through a transformation with digital platforms capturing over 60% of ad spends, up from 45% in 2022. There was an increase in influencer-led campaigns that captured the power of micro-moments and relatable content. Brands increasingly prioritised regional storytelling, recognising the diverse linguistic diversity of India. The integration of AR and VR in ads also saw an increase of 35%, providing immersive brand experiences. In 2024, we are likely to see a deeper fusion of technology with storytelling, with AI-driven personalised ads and a stronger emphasis on sustainability narratives. Brands will continue to tap into India's rich cultural ethos, while also championing global sensibilities.”

Rishi Sharma, CMO, Bonito Designs:

“In 2023, the home interior design marketing landscape experienced a significant surge in competition, prompting a shift from traditional performance marketing to a multifaceted approach. Marketers embraced programmatic advertising to broaden their reach, recognising the need for diverse strategies. Content planning became a key focus, with influencer collaborations playing a pivotal role in creating authentic narratives. User-generated content gained prominence, fostering community engagement and providing valuable, relatable material.

Dynamic video content, including virtual home tours and design demonstrations, took centerstage in captivating audiences and generating interest. The industry also witnessed a widespread adoption of AI-powered solutions, incorporating chatbots for instant engagement and enhancing overall marketing efficiency. Augmented Reality (AR) and Virtual Reality (VR) technologies were seamlessly integrated for immersive, interactive customer experiences. Mobile marketing emerged as a dominant channel, catering to consumers' reliance on mobile devices for information. Looking ahead to 2024, the industry is poised for a heavy focus on Marketing Technology (MarTech) and personalised AI-based recommendations, reflecting a commitment to staying technologically advanced and meeting evolving consumer preferences.”

Michael Londgren, CMO, Responsive:

“Tech stack rationalisation is the name of the game in 2024: companies of all sizes and industries are taking a hard look at their tech stacks and trying to cut back on spending. Whether you are an organisation looking to improve your operations or a tech provider trying to sell your solution, the focus on delivering value has never been more important.

The unpredictability of the 2024 economic environment will force companies across all industries to justify the use of their current vendors, technology stacks and sales approaches. At a macro level, this means that companies that sell products, solutions and services are more likely to have to re-bid for existing contracts and to submit proposals to win new customers.

In parallel, requirements for these re-bids are becoming increasingly complex due to new information requests, which require a potential vendor’s alignment with factors like a customer’s security posture, ESG position, DEI policies or evolving use of artificial intelligence. To quickly and accurately meet these evolving information requests, marketing organisations must partner with sales and other stakeholders to create and update content that differentiates their brands from the competition. In this environment, companies that can deliver fast, high quality, innovative proposals have the greatest opportunity to protect their current revenue and capture new customers.”

Ankit Ahuja, Founder, Red Comet Films:

“In 2023, the Indian ad film landscape went through a transformation with digital platforms capturing over 60% of ad spends, up from 45% in 2022. There was an increase in influencer-led campaigns that captured the power of micro-moments and relatable content. Brands increasingly prioritised regional storytelling, recognising the diverse linguistic diversity of India. The integration of AR and VR in ads also saw an increase of 35%, providing immersive brand experiences.

In 2024, we are likely to see a deeper fusion of technology with storytelling, with AI-driven personalised ads and a stronger emphasis on sustainability narratives. Brands will continue to tap into India’s rich cultural ethos, while also championing global sensibilities.”