A whopping ₹55,053 crore-that's the total advertising revenues digital platforms like Google India, Meta India, Amazon India and Flipkart garnered in the financial year (FY) 2023 as per an Economic Times report. This surpassed the revenue earned by the TV broadcast industry in the calendar year 2023.
Digital ads are becoming an imperative for retailers, especially in the e-commerce, D2C space, say retail experts.
"No brand can afford not to run digital ads in today's era since organic growth is slow and takes time and digital ads can get you immediate reach that every brand is looking for," said Atul Jain, Founder & Chief Executive Officer (CEO), Cybez, an e-commerce marketing and D2C growth hack company. Owing to the returns they are getting, the digital ad budgets of brands are getting fatter by the day.
How Much do Companies Spend on Online Ads?
Tirupur-based apparel and fashion brand Technosport said that the company's current spend on performance marketing is less than 10% of its online business.
This story is from the March 2024 edition of Images Retail.
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This story is from the March 2024 edition of Images Retail.
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