Lifestyle giants Nykaa, Myntra revamp ad strategy; TV ads spend down
The lifestyle brands cut their TV ad spending by 65% in the fourth quarter of 2024 on a year-on-year basis
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Bucking the trend, big lifestyle and online retail firms capitalized on print and radio for advertising in 2024. According to a report by Excellent Publicity-TAM Media Research Pvt Ltd, leading players in the Lifestyle & Apparel segment slashed their TV ad spending but splurged capital on print and radio mediums.
The lifestyle brands cut their TV ad spending by 65% in the fourth quarter of 2024 on a year-on-year basis, according to the report. However, print and digital ad spending rose by 10% and 2%, respectively in the same period.
Reliance Retail dominated print advertising with a 17% share, followed by Chandana Bros at 4%. Notably, south zone publications led with 37% of the ad spends, followed by North (31%) and East (17%), respectively.
In radio, Alishan, Reliance Retail, The Chennai Skills Group, and The Chennai Shopping Mall led in ad spending. Over 200 advertisers were new in 2024 in this medium, the report mentioned.
The report highlighted that print and radio ad spend witnessed a 21% and 12% rise, respectively, compared to 2022. However, TV and digital ad spending dropped by 59% and 71% respectively. Despite the decline, digital maintained the highest share of ad spending at 51%. Notably, Myntra Designs and Reliance dominated TV advertising, with GEC channels capturing 51% of TV ad spending. According to the report, the ad volume surged during prime time and celebrity endorsements constituted 38% of total ad duration. Whereas, April to June was the peak advertising period, coinciding with cricket events, such as IPL. Kiara Advani was the most featured celebrity in TV ads, the report added. Nykaa e-retail led digital advertising with a 22% share. Display ads dominated at over 90%, while video ads made up 7%. Digital ad spending peaked during IPL and ICC events and was evenly distributed across the week.
Among the top advertisers across the channels, Reliance Retail and Myntra remained the leading players, contributing nearly 80% of the total ad spend in 2024.
