Tag: Soumya Mohanty

  • TCS hits hat-trick as India’s most valuable brand: Kantar BrandZ report

    TCS hits hat-trick as India’s most valuable brand: Kantar BrandZ report

    Mumbai: Tata Consultancy Services (TCS) remains the nation’s most valuable brand for the third straight year, according to the new ‘Kantar BrandZ Most Valuable Indian Brands Report’ published today. With a brand value of $49.7 billion, TCS has seen a 16 per cent rise versus last year, driven by investments in innovation, particularly in AI and digital transformation. 

    India’s top 75 most valuable brands now have a combined value of $450.5 billion, marking a 19 per cent increase from last year. Brands across diverse business sectors fuelled this growth, with 54 brands boosting their brand value over the past year. This impressive growth outpaces most other BrandZ rankings globally and closely mirrors the 20 per cent increase seen in the global top 100.

    TCS tops a strong group of seven business technology and services platforms, collectively worth almost $100 billion, and equalling 22 per cent of the total value of India’s top 75 ranking.

    Financial services brands also dominate, with 17 brands, contributing 28 per cent of the ranking’s overall brand value. HFDC Bank (No.2; $38.3bn) retains its position as India’s second most valuable brand. State Bank of India (No.5; $18.0bn), ICICI Bank (No.6; $15.6bn) and LIC (No.10; $11.5bn) also feature in the top 10.

    Zomato (No.31; $3.5bn) is this year’s fastest riser with 100 per cent growth in brand value year-on-year due to relentless innovation and expansion into quick commerce. It has also boosted efficiency and elevated its customer experience over the last year.

    The automotive sector has also seen impressive results, led by Maruti Suzuki (No.17; +24 per cent), Bajaj Auto (No.20; +94 per cent), Mahindra (No.30; +78 per cent), TVS (No.34; +71 per cent) and Hero (No.35; +62 per cent). Mahindra’s SUVs now make up 53 per cent of India’s passenger car market (June 2024). The success of models like XUV700, Scorpio N, and Thar, which continue to see high demand and long waiting periods, has solidified Mahindra’s leadership in mid and premium SUVs.

    Rising disposable income and a growing middle class are driving demand for vehicles, shifting car ownership from a status symbol to a necessity. Improved infrastructure, government support for EVs and strong export growth expectations are further fuelling the industry’s momentum.

    India’s motorised two-wheel vehicle market is bouncing back, driven by a recovering economy and rising demand for personal transportation. Key factors include urbanisation, the need for affordable transport, and a growing young population. New models with advanced technology are also fuelling growth, meeting diverse consumer needs.

    Seven brands debut in India’s brand ranking this year, including jewellery retail brands CaratLane (No.45; $2.7bn) and Kalyan Jewellers (No.71; $1.6bn) and Real Estate brand, Lodha (No.63; $1.9bn). Godrej Properties (No.70; $1.66bn) also re-enters the ranking.

    Deepender Rana

    Kantar executive managing director, insights, South Asia – Deepender Rana said, “Strong brands consistently outperform the market. Over the past year, the companies behind India’s Top 75 brands have achieved an impressive 52 per cent stock market growth, outpacing the 37.6 per cent growth for the Sensex. Brands that thrive are those that create a Meaningful Difference by meeting evolving consumer needs, challenging industry norms, and forging strong emotional connections. The top performers in this brand ranking have excelled by embracing disruption and innovation, leading to significantly higher growth.” 

    Kantar BrandZ top 10 most valuable Indian brands 2024

    Rank 2023 Rank 2024 Brand Category Brand Value 2024 (US$ M)
    1 1 Tata Consultancy Services Business Technology and Services Platforms 49,657
    N/A 2 HDFC Bank Financial Services 38,286
    4 3 Airtel Telecom Providers 29,856
    3 4 Infosys Business Technology and Services Platforms 25,221
    5 5 State Bank of India Financial Services 17,979
    6 6 ICICI Bank Financial Services 15,604
    8 7 Jio Telecom Providers 13,744
    7 8 Asian Paints Paints 13,555
    10 9 HCL Tech Business Technology and Services Platforms 11,815
    11 10 LIC Financial Services 11,499

    India’s GDP growth outlook is bright, with an expected 8.2 per cent increase compared to the global average of 3.1 per cent, potentially positioning the country as the world’s third-largest economy by 2030. However, despite strong investor confidence, large brands face a looming challenge: a long-term decline in demand power. While they may remain stock market favourites for now, they risk losing relevance in the minds of consumers if they don’t adapt to shifting expectations.

    Soumya Mohanty

    Kantar’s MD & chief client officer, insights, South Asia – Soumya Mohanty said, “It’s not enough to make consumers want to buy, brands must build their saliency and relevancy across all touchpoints, from advertising to in-store experiences. Successful brands create a consistent presence that resonates with consumers, driving both awareness and loyalty. Those that thrive have combined strategic reach with compelling, creative messaging to capture consumer attention and drive significant brand growth.”

    Other key highlights from the Kantar BrandZ most valuable Indian brands report include:

    • Opportunity to expand beyond national borders: Many Indian brands remain heavily reliant on the domestic market, benefiting from a stable local economy. However, the global market of 6.7 billion people remains largely untapped, with overseas contribution accounting for only 26 per cent of the top 75 Indian brands. Indian brands must expand beyond their borders to unlock their full potential on the global stage.  
       
    • A blueprint for brand growth: Kantar’s new blueprint for brand growth is designed to help businesses build profitable, strong and sustainable brands in recognition that being meaningfully different to more people is a key driver for growth. While maintaining meaningful difference is a global challenge, it is more pronounced in India. With over 20 per cent of Indian brands lagging in this area, the need to adapt and differentiate is more critical than ever to remain competitive and see long-term growth.

    The Kantar BrandZ Most Valuable Indian Brands ranking, report and extensive analysis are available now at www.kantar.com/campaigns/brandz/india   

    Built on Kantar’s meaningful different and salient framework, BrandEvaluator is an innovative tool that delivers a robust brand equity assessment in as few as four days, empowering strategic decisions that drive sales and growth.

  • Kantar: Consumers in India are taking up ‘offers’ faster online than offline

    Kantar: Consumers in India are taking up ‘offers’ faster online than offline

    Mumbai: Kantar, a marketing data and analytics company, has launched ‘Uncovering Consumer Decision Making in Digital Commerce’ a comprehensive report collating multiple studies done across various categories, to help marketers formulate winning strategies for digital commerce.

    The research reveals a significant difference in availing offers online and offline by consumers. 86 per cent of online consumers are willing to take up offers while the offline offer uptake stands at 60 per cent which is a wide gap. Online buyers are more price sensitive and avail more offers compared to offline buyers. Therefore, it is important for marketers to optimise discount and promotion offers (own and with partners) considering channel dynamics and to understand the psychological thresholds to pricing.

    Other key findings of the report include:

    When it comes to selecting a digital payment instrument, brand reputation dominates as the primary factor, standing at the highest (index of 100) while other parameters such as ‘interest on earning’, ‘platform Fee & charges’ and ‘cashbacks on all transactions’, lags behind at 47, 43 and 18 (indexed to brand reputation) respectively.

    While selecting the e-commerce platform for online purchases, consumers’ look for foundational needs being met and hence delivery type & delivery charges stand highest (index of 100), followed by ‘discounts’ and ‘delivery time’ (61 and 52 respectively- indexed to delivery type & charges). This gives a clear indication to brands to keep a stronghold on these basics for customer loyalty and understand consumer’s maximum thresholds for delivery charges, delivery time and minimum thresholds for discounts.

    While consumers may expect to have many services and features available on the app, they would be willing to pay only for the services and features which fulfils an unmet need or have a tangible benefit. Kantar points out that it is important to estimate consumer’s willingness to pay for each service and feature, in order to construct subscription packages and to monetize profitably.

    A key aspect of consumer decision-making on digital platforms is Priced offers vis- a – vis free service/content. The report points out that while constructing and pricing subscription packages / offer bundles and monetizing services and features in digital commerce space, it is important to consider (and not ignore) free services and content available on the web as real competition because in consumer’s mind, these are relevant options and something they can easily switch back to.  Explaining this further, the report highlights that discounts on medicines are already available on many sites and thus, willingness to pay for it in a subscription plan is very low. The same is true for services such as nutritional / diet advice which are available for free on many health-related sites and platforms.

    Lastly, the report points out that loyalty program subscribers expect higher tangible rewards in return. This can vary by category. For one category, the expectation from the conversion rate for reward points to cash for loyalty program subscribers was 1.17 times that of the conversion rate for regular users and for another it was 1.31. Kantar recommends that in order to balance between consumer loyalty, rewards payout based on loyalty programs and profitability, it is important to estimate and optimize the reward-to-cash ratio and benefit from the difference in these expectations across program subscribers and regular users (to get them onboard) by different categories.

    Commenting on the report, Kantar MD & chief client officer, insights division, South Asia Soumya Mohanty said, “India’s online shopper base is to be the 2nd largest globally by 2030, with nearly 500-600 Mn shoppers, as per Invest India*. To capitalise this massive growth and be future-ready, it becomes even more important to listen to what consumers want from your category, brand, and those you partner with.

  • Kantar’s Brand Inclusion Index names Google, Tata Motors, Amazon, Jio and Apple as the most inclusive brands in India

    Kantar’s Brand Inclusion Index names Google, Tata Motors, Amazon, Jio and Apple as the most inclusive brands in India

    Mumbai: A marketing data and analytics business, Kantar has launched the Brand Inclusion Index (BII), a global study which reveals that 75 per cent of consumers say that a brand’s diversity and inclusion reputation influences their purchase decisions. A staggering 68 per cent Indians claim to have been discriminated against, and in majority of cases in commercial places and brand touchpoints, which is substantially higher than the global figure which stands at 46 per cent. The study also showcases that DEI is important for an overwhelming majority of Indians, both in life and while making brand choices, with 86 per cent of respondents.

    The study identifies that inclusive marketing is a significant opportunity to drive brand growth. It is clear that brands who fail to address discrimination, risk alienating a significant portion of their customer base. Despite progress made by some brands, the Brand Inclusion Index 2024 reveals a significant inclusion gap that businesses must address. This gap is the difference between the proportion of people in a market who have experienced discrimination and the percentage who believe in the importance and influence of diversity and inclusion.

    Kantar’s Brand Inclusion Index 2024 is a survey of more than 23,000 people in 18 countries, the India leg comprises 1000 plus respondents with an inclusive demographic which is gender expansive, disability, socio-economic class, religion, etc.

    The findings of the Brand Inclusion Index sit in the context of preliminary research from the Unstereotype Alliance with Oxford University’s Saïd Business School, using data from Alliance members including Kantar. This study has found that progressive, inclusive advertising drives a significant sales uplift of over 16 per cent when compared with less progressive ad content and has a significant impact on consumer loyalty, buying intentions and a brand’s pricing power. Respondents assess brands on different dimensions – brave brand DEI strategy, diversity, equity, and inclusion – from the absence of negative actions, to the presence of positive initiatives.

    The first edition of India Brand Inclusion Index study explores skincare, banking, automotive and technology categories. In its Index of the world’s most inclusive brands, Kantar ranked Google, Amazon, Nike, Dove and McDonald’s in its global top five while in India, it is Google, Tata Motors, Amazon, Jio and Apple. The brands were recognised by consumers for setting a positive example by demonstrating a genuine commitment to diversity, equity, and inclusion (DE&I).

    Key findings:

    . There’s an urgent need for brands to address DE&I failures: A staggering, 68 per cent Indians claim to have been discriminated against, and in majority of cases in commercial places and brand touchpoints, which is substantially higher than the global figure which stands at 46 per cent. The study also showcases that DEI is important for an overwhelming majority of Indians, both in life and while making brand choices with 86 per cent respondents.

    . Consumer expectations are high, globally: 75 per cent of consumers globally say that diversity and inclusion – or a lack thereof – influence their purchase decisions.

    . DEI is yet to make its mark on Indian advertising:

    . More women are seen in Indian ads than global average but they remain bound by traditional roles of homemakers and mothers (Seven per cent women are featured in non-traditional roles)

    . Fairness of skin may have transitioned to glow but skin colourism continues to exist in creatives

    . Sizes remain slim and small. (Seven per cent diverse body shapes)

    . Ageism dominates with 40 plus women represented in less than one out of five ads (15 per cent in India vs 26 per cent globally)

    . Underrepresented groups are most vulnerable: Ad protagonists and characters in India are painted in broad strokes of what they, their homes, beliefs and lifestyles look like, ignoring ethnic minorities, LGBTQ

    . Ads that successfully portray people positively provide greater predicted ROI for advertising investment. There has been growth in the industry in positive portrayal of Males over the last year, but a drop in Female portrayal since last two years

    . Globally, people with disabilities and LGBTQ+ individuals report the highest rates of discrimination (81 per cent and 62 per cent respectively), emphasising the need for targeted efforts to create more inclusive environments and content

    . Google, recognised as most inclusive brand in India as well as globally. It emerges as a beacon of hope, ranked by Kantar as the most inclusive brand globally. Consumers, particularly in marginalised communities, praised Google for its unwavering commitment to DE&I in its internal policies, products and marketing, its authentic representation of people from all walks of life and its leading-edge innovation for inclusion

    . Alongside Google, Tata Motors, Amazon, Jio and Apple emerged in the top five winners in India. Category-wise, the India top Brand Inclusion Index scorers are – Google (technology), Tata Motors (automotive), SBI (banking), Dove (skincare).

    Kantar’s global head of diversity, equity and inclusion Valeria Piaggio said, “It’s a myth that inclusion marketing is about marketing to minorities. Inclusion marketing is expansive marketing. One of the fundamental ways to grow your brand is to predispose more people to it. Yet when brands exclude consumers – whether that’s because people don’t feel welcomed when shopping in stores or their advertising doesn’t reflect diverse communities – it’s an easy miss.

    “Millennials and Gen Z prioritise diversity and inclusion even more than other groups, and as these populations grow in size and buying power these issues will carry more weight. Brands will be rewarded if they stand by their values – especially in the face of vocal communities which stoke the culture wars by pitting minority groups against one another.”

    Kantar MD & chief client officer- South Asia, insights division, Soumya Mohanty said, “In a country of India’s size, the term under-represented groups can be misleading for brands to use as a guiding light. Minorities can translate into millions of people who may choose or not choose to buy your brand, based on how well they feel seen, heard and voiced in your brands. It is a business imperative for brands to prove that they are serious and committed about DEI. The Brand Inclusion Index – our breakthrough study on brand inclusion – gives clear indications of how to achieve the inclusivity imperative. Our analysis of what’s behind the most inclusive brands is that they all have three things: a well-thought-out DEI strategy that stems from company actions and is committed long-term, impeccable creative execution, and bravery. The element of bravery will be increasingly important. As in other moments in history, when there’s significant social change, there are groups of society that seek to maintain the status quo, feel threatened, and as a result, react loudly.”

    Mohanty added, “To avoid backlash, brands today need to be extra careful. Full inclusion needs to work at both ends of the spectrum: reaching out to underrepresented populations and making them count, while avoiding negative reactions from people who are used to seeing themselves well-represented by brands and don’t want to be left behind. This study brings understanding of how people perceive brands based on their DEI efforts, focusing on populations that tend to be excluded, underserved, or misrepresented. The Brand Inclusion Index gives marketers clear benchmarks for brand inclusion and inspiration from brave brands that are seen as diverse, fair, and inclusive.”

  • Kantar launches edition four of its Creative Effectiveness Awards India

    Kantar launches edition four of its Creative Effectiveness Awards India

    Mumbai: Kantar, the world’s leading marketing data and analytics company tested more than 12,000 creatives for its clients around the world in 2023. Over 11 per cent (1,400 plus) of those creatives were tested in India. Today, Kantar unveils the ads that were most effective and creative across India in 2023.

    What makes these awards unique is that consumers are the jury. As people control a brand’s fortunes through their spending power, their voice decides what is effective advertising. The India report shortlists close to 300 ads, tested across categories, markets, TG’s and media channels.

    The winners list has doubled from last year, with Kantar awarding 10 standout performers in the television ads category and four in the Digital ads category.

    Television categories include food & beverage, home care, personal care, services and unstereotype. New categories introduced include ‘Original Creatives for South’, ‘Adaptations for South’, Most Creative & Effective TV Ad (overall) and Most Consistently Effective Advertiser. Creatives for Digital continue to grow this year as well, with Kantar awarding standout performers in four categories- three based on ‘Ad Length’ format and one for the Most Creative & Effective Digital Ad, for bringing to life the exciting storytelling possibilities in the digital world.

    All ads exemplify essential characteristics of being creatively engaging and landing persuasive stories that enhance brand sales.

    Kantar Creative Effectiveness Awards India 2024 winners:

    Award Type

    Category Type

    Corporate

    Creative Agency

    Brand

    Creative

    CATEGORY AWARDS

    Food & Beverage

    Mondelez

    Ogilvy

    Choco Chips

    Chhote Chhote Cadbury

    Home Care

    Hindustan Unilever

    Ogilvy

    Surf Excel Easy Wash

    Surf Excel Gokul

    Personal Care

    Colgate-Palmolive India 

    Ogilvy

    Colgate Max Fresh

    Doctor

    Services

    Fashnear Technologies 

    Moonshot

    Meesho

    Sahi Quality Sahi Price

    Original Creatives for South

    Godrej Consumer Products

    Godrej Lightbox

    Godrej Fab

    Politician

    Adaptations for South 

    Zydus Wellness Products 

    McCann Worldgroup

    Complan

    Strong Motherhood

    UNSTEREOTYPE AWARDS

    Unstereotype- Male

    Hindustan Unilever

    Lowe Lintas

    Vim Liquid

    Masala Kadhi Pakoda

    Unstereotype- Female

    Hindustan Unilever

    Ogilvy

    Dove

    Dafoe Y2

    DIGITAL AWARDS

    Under 15 seconds

    Eicher Motors

    In-house

    Royal Enfield Bullet 350

    Bullet Meri Jaan | RE Bullet 350

    Between 15-30 seconds

    Delightful Gourmet

    Tilt Brand Solutions

    Licious 

    Juicy. Delicious. Must be Licious!

    Over 30 seconds 

    Tata Group

    In-house

    Croma

    Bahana

    OVERALL WINNERS

    Most Creative & Effective TV Ad

    Hindustan Unilever

    Ogilvy

    Ponds Dream Flower

    DDLJ

    Most Creative & Effective Digital Ad

    Nestle

    McCann Worldgroup

    Maggi

    Maggi Occasions – Rain Moments

    Most Consistently Effective Advertiser

    Hindustan Unilever

    Surf Excel

    Commenting on this year’s findings, Kantar MD & chief client officer- South Asia, insights division Soumya Mohanty said, “Earlier this year, Kantar launched the Blueprint for Brand Growth– a breakthrough understanding of how businesses build strong & profitable brands. One of the growth accelerators for building strong brands is to pre-dispose more people. Great advertising builds pre-disposition and loads the dice in favour of the brands. Creative content can and should punch above its weight”.

    Key highlights from this year’s report:

    1.  Learnings from Kantar’s blueprint for brand growth indicate that great advertising is rocket fuel for building predisposition: growing meaningfully different brands in a more effective and efficient way. Creative quality, second only to brand size, greatly influences campaign profitability, with double the impact that reach does on brand salience.

    2.  Kantar research emphasizes that ads must persuade and convey messages that are novel, credible, relevant, and different to enhance short-term sales. But high-quality ads, which leave a lasting impression, generally perform well in both short-term sales and long-term brand-building (Kantar LINK database), thus reducing the need to spend money on performance marketing.

    3.  Beyond brand recognition, generating a strong emotional response is key, because emotion helps build strong memory structures, and most advertising effects are not immediate. Emotion plays a critical role in effective creative- and not just in TV content.

    Ad learnings from 2023:

    1. Make purpose personal: 65 per cent of Indians will buy brands that stand for something they can identify with. While purpose or value led creatives open possibilities for highly emotively engaging creatives, the effective ones execute it in a manner such that it becomes personal to the consumers.

    2.  License to surprise: Consumers are open to original creative ideas- ones that are hyper creative or break existing category codes. The reward for the brand lies in the ability to integrate the persuasive and meaningful impressions into the creative idea. Pre-testing helps identify the possible risks of comprehension and resonance.

    3.  Going native: Only 28 per cent Indians (vs Global average 75 per cent) have watched any ‘foreign’ content. Over 25 years of Kantar Link ad evaluation reveal a striking truth- ad transference across Indian regions is just about a third. This challenges the assumption that a single pan-India creative approach, even with universal and validated consumer insight, will yield positive returns on objectives. Brands are now refreshingly taking on the challenge and opportunity of engaging the Southern consumers differently from Hindi-speaking markets. Investing in original creatives, by going native on multiple dimensions- insights, creative idea & treatment and execution ensures maximizing of reward for the brand.

    4. Go deep & wide: The most efficient route to optimize budgets for creating ads that effectively crossover the transference challenge across many India’s, is to create regional adaptions by playing with backdrop, celebrity, casting, product window visualization, slogan etc. Go deep and wide is about taking a campaign pan India by starting with a pan India insight, creative idea & treatment but execute with some nativity elements to amplify the resonance with the regional markets. Pre-testing helps to identify whether the mix of insight, story & elements work together as intended and identify opportunities for improvement.

    5.  Embed the brand: The value of creativity starts with the brand. While executional elements like distinctive brand assets and consistency in advertising style are undeniable aids in ensuring that the brand takes credit for the impressions left behind by the creative, it’s potential is amplified when the brand is integral to the story.

    **In our top quartile ads compared to the bottom quartile ads, we observed more consistency (plus 49 per cent), greater use of established branding devices (plus 14 per cent), and the inclusion of related music (plus 26 per cent).

    6. Weave in the product story: Executions that can creatively integrate the specific competitive reasons to consider the brand into the narrative tend to be impactful. The role of creativity is thus not just to entertain but also leave behind vivid impressions that make the brand more meaningful to the consumers.

    7.  Specific learnings for the digital landscape:

    a.  Precision targeting is officially giving way to mass media avatar of Digital and there’s an increasing recognition of the importance of brand marketing on digital platforms. Creative Quality getting increasingly critical for ensuring ROI for digital- could unlock 35 per cent plus incremental sales per impression.  

     b.  Effective content on TV does not automatically mean success in digital – Ads that perform well in TV have only a 50 per cent chance of performing well in digital.

    c.   Emotional resonance significantly enhances digital advertising’s impact on brand building. Ads that evoke stronger emotions are 3.3x more likely to drive long-term brand equity and 2.75x more likely to generate impact compared to those with weaker emotional connections.

    Kantar head of creative domain & executive vice president- South Asia, insights division Prasanna Kumar added: “Truly creative ads are the ones that are effective. The journey from being just creative to being effective starts by including your key stakeholders – your target consumers, into the process by pre-testing your ads. This year we have seen some original creative ideas shine through by ensuring that they have brand and consumer at their heart.”

    **Source: India TV Link database ’23

  • Kantar’s AI-volution: Making AI-dable connections in consumer insights

    Kantar’s AI-volution: Making AI-dable connections in consumer insights

    Mumbai: India’s digital landscape is evolving, and at its heart lies a burgeoning AI revolution. With over 724 million users already engaging with AI features, the country is on the brink of a transformative shift. Kantar, a global leader in marketing data and analytics, delves into this dynamic AI market, offering actionable insights for brands. From the widespread adoption of AI in fitness and social media apps to the emergence of virtual assistants and smart home automation, the AI wave is reshaping consumer experiences.

    But it’s not just about adopting AI; it’s about humanizing it. Kantar’s innovative suite of AI-powered research solutions empowers brands to understand consumer behavior like never before, paving the way for sustainable growth and competitive advantage in an increasingly AI-driven world.

    Indiantelevision.com in conversation with Kantar MD and chief client officer- South Asia, insights division Soumya Mohanty and Kantar senior executive director, South Asia, insights division Puneet Avasthi delved into Kantar’s AI Summit that was held on 24 April 2024; the ways in which Indian consumers are incorporating AI into their daily lives, on Kantar’s AI-based offerings and more…

    Edited Excerpts:

    On the Kantar AI Summit and its key insights

    Puneet: The AI Summit is a platform where we’re going to be sharing the details of our full range of investments leveraging AI and our unique models, and datasets for the purpose of addressing client questions in this fast-paced world of AI. We have a very rich understanding of how consumers in India have adopted AI and the different features that really go under the umbrella of AI. This is really what matters from a connect-with-consumer standpoint and that is something that we’ve understood in depth.

    We’ve looked at, not just understanding the different features of AI in the country, we’ve also looked at an understanding of what kind of apps are enabling that usage. So that’s something that we’re going to be talking about in the AI Summit.

    On the ways in which Indian consumers are incorporating AI into their daily lives, and the implications that this has for marketers

    Puneet: AI in India has started out principally as a feature to make things more efficient for the Indian activator and user. There are people who are living in this very fast-paced digital world and AI really helps make life easier for them a lot more. And that’s really why AI has a reason to exist from a consumer standpoint.

    In that, it has started out with powering recommendation engines, image enhancement. So some of those features are pretty much reaching saturation levels and are going to be growing at the rate at which the internet grows in India, which is five-six per cent per annum. But really the big growth over the next two-three years is going to be in terms of virtual assistants and that is something that is going to be radically changing the way we see it how brands are also going to be creating unique experiences to reach out to consumers as the virtual assistants are growing very rapidly in terms of their reach.

    We are seeing a rapid growth and I think the next four-five years are going to be transformational in terms of the device and durable ecosystem at home with many more smart and connected devices at home that are going to be used by consumers.

    Soumya: Also, if you look at it broadly, AI will help marketers analyze data faster than they are able to do today because you can real-time analyze data and real-time take decisions. AI will improve experience of your customers because if you use recommendation engines better, you will improve the kind of experience they get through that method because you know what they are. I mean you look at something very simple, the kind of choices that you are shown when you go to an e-commerce site or when you are watching an OTT, all of that is AI-driven. So as AI becomes better and more powerful, those choices will become, what you expose the consumer to, will also become much more nuanced and much better.

    Today it is based on, let’s say, only my past history. Tomorrow it’s going to be based not just on my past history but maybe, the kind of browsing I do. Maybe I’ve spent just five minutes and I’ve stopped watching something. That can be fed into it. Other things that I’m doing can be fed into it. It can make a much richer experience for me. And finally, I think you can just sort of create marketing strategies on the fly.

    I can do a lot of that with AI. Of course, all this will be within, by the way, you can also type an answer to what AI will do for marketers using GoViolet or using ChatGPT. So it is generally transformative in that sense. But I think the challenge is that you are going to have walled gardens like Facebook.

    You won’t be able to follow the consumer through those walls. You really won’t. Actually, there will be stricter and stricter privacy laws. There already are, and they will become even more stricter.

    So, all this will have to be done keeping in mind that the data access that you have today may also reduce. Then, therefore, it will become important to have an understanding or a framework with which you analyze that data. That’s where actually the Kantar tools come in. Because we do so much of consumer research, we actually have an understanding of how consumers behave. We have a lot of data. Now, it’s not just random data, which is there on Twitter or on Facebook or whatever. It’s the data in a framework.

    So that’s the advantage when you start working with folks like us to make more sense of the data that you are surrounded by.

    On the ethical considerations that marketers should keep in mind when deploying AI-powered marketing strategies

    Soumya: The first one would be bias. I think AI is as good, apart from the fact that it’s as good as the data it is trained on, which is garbage in, garbage out.

    There is also some amount of analyst bias or the person who is actually writing the code bias that comes into any kind of AI. Obviously, after some time, open AI, etc, but it regards itself. But somewhere, some human intervention has led to its learning. So it can go horribly wrong at times.

    Just like social listening can go horribly wrong. If you are on Twitter, you will be served with what you are actually seeing, and you will end up believing what you are reading. For instance, during election season, you may end up believing whatever you are shown because it becomes such an echo chamber. Social media is getting weaponized. Marketers have to be really, really careful that it’s unbiased, it is neutral, it is objective.

    The challenge, again, is that we are in an era where two or three big players actually dominate the Internet in a way. Everything is dominated. It’s not as open as we think. That’s where I think they’ll have to take the data that is getting given to them with a pinch of salt. They will have to ensure the algorithms are not biased. There’s a lot of work to be done here.

    On Kantar’s AI-based offerings and how does it work for marketers

    Puneet: So Kantar has traditionally developed a very strong suite from the standpoint of understanding consumers and understanding specific marketing activities, whether it is ROI, whether it is creative. Naturally, when it’s about consumers, it is about understanding the needs of the consumers, understanding what trends are defining consumers.

    So what we’ve done is we’ve taken those frameworks which have been owned over several decades through the different researches that we’ve done and developed those models into a framework which is now pretty much where we’ve got the data across a multitude of studies that have been done over years along with our powerful engines which have been fed into the machine learning models as such to create a suitable mechanism of ensuring that the machine is able to process diverse data sets and create appropriate learnings about the consumer as such, whether it is understanding trends, whether it is leveraging the large database of ad pre-tests that we’ve been doing over years.

    In India, for example, we’ve done over 28,000 ads being pre-tested over the last couple of decades. Using that data, we’ve created a very nuanced understanding of what kind of ads are going to be working. That is particularly relevant in this new age where ads need to get rolled out very quickly in this digital age and particularly the YouTube age as such.

    In these environments, the ability to be able to test out the likely results that a particular ad or a creative is going to deliver in a fairly quick turnaround time is something that is a differentiator in itself. That is something that Link AI does very effectively. Similarly, we’ve got other tools such as Trend AI, which allows you to understand trends that are bubbling up and defining the consumer today, leveraging a multitude of data sources, unstructured data sources, that are being fed into our machine learning algorithms to create suitable understanding of how consumers are evolving.

    These are some of the offerings. We’ve got Needscope, which allows you to understand consumer needs, needs based on how, what are the spaces that a brand can take within their targeting framework.

    Soumya: So if I was to say how useful this is, less than one per cent of ads that are put out are tested. Most advertisers don’t test advertising. Now with our AI offer, they can actually test a lot more advertising and the chances of failure of ads reduces.

    If there’s something horribly off, at least you don’t have to risk putting it online and then taking it down because there is a big backlash. At least you can avoid those kind of mistakes by using these AI solutions that we have.

    On marketers effectively humanizing AI technologies to create innovative and relatable brand experiences for consumers

    Puneet: So to humanize AI, to create those superlative brand experiences and brands are always looking at ways and means of delighting the consumer because in a manner where the message of the brand is consistent and delivered in a way that it anchors itself to what is relevant to the consumer and is truly differentiated versus whatever, you know, are the options that are set in the marketplace.

    Brands are looking to create those superlative experiences and what AI and technologies do is, it creates a new mechanism of reaching out to consumers, targeting them effectively in their own spaces. Now AI is something that is increasingly getting embedded in consumers’ ways of living.

    There is a cohort of consumers and a fairly large chunk of consumers who are looking at a variety of images and playing with their own images, anything on their own and using some of those features of AI which are brilliantly available in a whole host of social media apps. So a lot of these things are already now, defined by consumers. It is actually about the marketer leveraging some of these trends that have already, the technologies and trends, both are actually in place now.

    You’ve got the technology, you’ve got the trend, consumers have adopted it. It’s for marketers to leverage it effectively and create those superlative brand experiences. Some that come to mind are, for example, what Britannia has done recently where they have leveraged the power of trend, the reach of trend as such and created something that is almost, a surreal dreamlike experience. You would imagine a newspaper and what if the images were to be moving and you’ve got this little QR code there which you scan using a mobile phone and it reaches out to the camera and it creates a big CRT which is quite brilliant. And you’ve got Ranveer Singh who’s suddenly talking about the brand message to the consumer. It’s done in a very interesting manner and leverages a tremendous amount of computing capacity and creates a very, a superlative brand experience.

    Similarly, Mondelez had done something very effectively where they had created a hyperlocal targeting program where they had helped retailers across various micro-markets to, grow their business or gain their business traction as such post the pandemic and they’ve done it very effectively through a campaign where they used the face of Shah Rukh Khan who spoke to the consumer in various parts of the country as such in that particular micro-market, advocating a specific retailer. That is something that is fantastic for the retailer and it is also a delight for the consumer who is residing in that particular market. These are some very interesting examples of how AI has been used to humanize this technology and create great brand experiences for consumers.

    Soumya: The simplest way in which AI can be humanized is that basically you can segment your audience better and you can target your audience better. The moment you start targeting better, you are creating personalized experiences, personalized recommendations. So automatically you are sort of humanizing it. Apart from these brilliant examples of using technology to make an experience normalized.

    On the role that you see AI playing in shaping the future of consumer insights and market research

    Soumya: It will make market research more accessible to a lot more people. In India, by the way, market research is probably penetrated less than 10 per cent, even less than that. If you look at how big the Indian economy is, and if you look at how big marketing and advertising spends are, that itself is very low in India. Within that, research and insights is even lower. So, effectively, the coming of AI and, of course, social media and the internet can increase the reach of everything, from marketing and advertising. Marketing and advertising itself will grow, and so will consumer research.

    Number one, it will improve accessibility. It will make it faster. It will make it more cost-effective for the kind of clientele that today may not be able to afford large-scale work. Having said that, what is most important is that you finally need a human behind the AI because the data that goes into the AI, and the algorithm that is written, is the most important part. Otherwise, AI can go horribly wrong.

    On the threats that AI can pose

    Soumya: I think more than threat, it’s an opportunity, because we are a neutral, third-party, objective source of information, and we have very validated, strong consumer frameworks.

  • Nine in ten Indian internet users are already using AI in some form or the other: Kantar AI research findings

    Nine in ten Indian internet users are already using AI in some form or the other: Kantar AI research findings

    Mumbai: The internet in India is democratized and widely used; but now the country sits on the cusp of an AI revolution. ICUBE* data shows that AI is already touching the lives of nine in ten internet users in India, powered by the enormous computing capabilities on their phones, connectivity, and cloud infrastructure. Kantar, the world’s leading marketing data and analytics business unveils a probe into this burgeoning AI market to dish out actionable insights for marketers. Furthermore, the company also unveiled an AI-powered suit of research solutions that will enable brands and brand builders to understand consumer behavioral data better and stay ahead of the curve in future.

    The current AI user base of the country stands at 724 million and poised to grow YoY at six per cent. These are users who have used any of the AI features like image filters, personalized recommendations, smart devices, etc till now.

    Kantar also found that ‘fitness’ and ‘social media’ apps are driving AI adoption with an average of 2.3 AI-led features embedded in these applications. ‘Entertainment’ apps are a close second, standing at 2.0 AI features on average. AI is also touching ‘digital commerce’ and ‘pharmacy apps’ at an average of 1.8 AI features each. Kantar also anticipates that many more digital commerce & entertainment apps will adopt AI features to enhance quality of customer experience and stay in line with the emerging trends. Adoption however is slower in the ‘BFSI’, ‘job search’ and ‘short video’ apps segments, at an average of 1.2 features each.

    Adoption of AI among users is currently high for popular features while enhanced AI functionalities are catching up. Incidence among AI users in 2023:

    1. 88 per cent consumers used AI-based algorithms which analysed their preferences, behaviours, and interests to create personalized recommendations for tailored experiences. This segment grew at six  per cent YoY.

    2 . 88 per cent consumer also automated various tasks and streamlined routines to enhance efficiency and productivity in their daily lives using AI. This segment grew at six per cent YoY.

    3 . 86 per cent used ‘image enhancement filters’ so that the resulting image is improved in terms of sharpness, contrast, brightness or with other features. This segment grew at five per cent YoY.

    4 . At 21 per cent, ‘smart home automation’ is a smaller segment but growing at 25 per cent YoY.

    5 . 15 per cent consumers enhanced their ‘user experience through virtual assistants’. This segment is the fastest growing at 27 per cent YoY.

    While AI technologies are touching most internet users of India today, their usage is expectedly higher among the youth (19–24-year-olds) at 92 per cent and interestingly, at a high 81 per cent for the older (45 plus year old) age bracket as well.

    Speaking about AI and addressing the marketers, Kantar MD & chief client officer – South Asia, insights division Soumya Mohanty said “AI is inevitable. Historically, technology adoption has always been a dominant determinant of a brand’s trajectory. We at Kantar feel that it is important to help marketers humanise AI to innovate successfully, help activate AI to predict future performance, maximize ROI and use AI strategies to build competitive advantage for sustainable growth. We have created a range of offerings which will benefit marketers and consumers by extension. LINK AI is one such solution, which helps evaluate creative effectiveness at scale and has helped uncover new insights into creating better video ads on YouTube which has a proven track record of growth, following Google’s ABCD framework. Similarly, we have introduced best in class offerings like LIFT ROI, Trend AI and NeedScope AI for various stages of brand growth as well.”

    Kantar Sr executive director, South Asia, insights division Puneet Avasthi added “Generative AI is set to become a $1.3T market by 2034 with a possible 42 per cent CAGR growth over the next 10 years. We are sitting at a point of inflection where the next few years will enable a competitive edge between businesses who adopt early and others. As the usage of AI grows rapidly, it is critical for marketers to not use AI in isolation and as a gimmicky fad, but weave in consumer behavioral data into it to remove biases, continue to focus on building equity and not just to run activations. Kantar is at the forefront of this AI revolution and is assisting brand builders to strengthen creative testing, innovation using it’s AI based solutions.”

  • Kantar Brandz Report: Tata Consultancy Services retains its crown as India’s most valuable brand

    Kantar Brandz Report: Tata Consultancy Services retains its crown as India’s most valuable brand

    Mumbai: Tata Consultancy Services (TCS) has retained its number one position in the 10th anniversary edition of Kantar BrandZ Top 75 Most Valuable Indian Brands Report for the second consecutive year, with a brand value of US$43 billion. TCS continues to successfully capitalise on global demand for digital transformation, despite a tough year for the business technology category in general. HDFC Bank, Infosys and Airtel also hold on to their top four positions, while State Bank of India rises one place to enter the Top 5.

    India’s Top 75 brands have a combined brand value of $379 billion, a decline of four per cent from 2022 – a modest decrease given the ongoing economic volatility across most of the world. This is testament to Indian brands’ resilience, stability and consistency. The decline has been driven by brands in the Business Technology and Services Platforms category, which have a major presence in international markets, and therefore have been impacted by global pressures, recession threats and geopolitical instability.

    The Automotive category produced the Top 75’s two fastest risers: TVS (No.51; $1.90bn) and Mahindra (No.47; $2.01bn) and achieved the second highest category growth at 19 per cent. India’s automotive brands have quickly responded to changing consumer needs, notably the shift in preference from hatchbacks to SUVs, and the demand for electric vehicles.

    TVS gained 59 per cent in value and leapt 24 places thanks to a number of successful product launches and a 10-year partnership with BMW that gives it leverage in markets such as Europe, the US and Canada. Mahindra, which grew its value by 48%, has made itself incredibly meaningful in Indian consumers’ eyes, and has also significantly boosted its salience.

    The ranking’s 16 Financial Services brands contribute the biggest chunk of its total value. They grew six per cent, thanks to the boom in digital banking, led by Axis Bank (No.17; +28 per cent) and ICICI Bank (No.6; +18 per cent).

    Telecom providers also performed strongly, resulting in a 17 per cent rise in total brand value. Airtel (No.4; +29 per cent) took full advantage of the end of the price wars to focus on what makes it special and relevant to Indian consumers’ lives. This included offering differentiated digital services, such as the Xstream entertainment app and Wynk music app. Airtel has also successfully leveraged the rapidly increasing demand among businesses for data and connectivity related solutions, and digital products that enable the delivery of an enhanced omni-channel customer experience.

    There are four newcomers to the 2023 Indian brand ranking, plus two re-entrants. PhonePe – the highest entry at No.21 – has quickly become India’s leading digital payment app by investing heavily in the strength of its infrastructure, building connections with partner banks, and developing a huge network of merchant acceptance points. Also making their debut are fintech brand Cred (No.48; $2.0bn), photo and video sharing app ShareChat (No.67; $1.33bn) and entertainment platform Star (No.71; $1.30bn).

    2023 is the 10th ranking of India’s most valuable brands, during which time the Top 50 have increased almost fivefold in value, from $69.6bn in 2014 to $339.9bn in 2023. The last decade is a story of strength and resilience: 33 of the brands in the current Top 75 were also in the 2014 ranking. The companies behind India’s most valuable brands have consistently outperformed the key market indices – the SENSEX and the NIFTY50 – with share price growth over 10 years of 99.6 per cent compared with 83.2 per cent and 81.7 per cent respectively.

    Kantar BrandZ Top 10 Most Valuable Indian Brands 2023

    Kantar executive managing director- South Asia, insights division Deepender Rana says, “It has been India’s decade. Our GDP has almost doubled with an 82 per cent growth, while the world GDP has grown at 30 per cent. This delta is even more when it comes to the most valuable Indian brands, which have almost quintupled in value (4.9 times), compared to the most valuable global brands, which have grown by 2.4 times. So Indian brands are significant value creators for our economy. We expect this trend to accelerate in the next decade as Indian brands don’t just thrive in India, but also explore growth overseas in their quest to become true multinational giants. Our IT services brands have already done that, with TCS and Infosys already featuring in the Top 100 Most Valuable Global Brand list. The strongest Indian brands have forged powerful connections by consistently adding value to people’s lives, and consumers see them as different to their rivals in ways that really matter. Brands must keep investing in building equity to create future demand, even as they capture existing demand which requires a better balance between short- and long-term strategy.”

    Kantar managing director & chief client officer- South Asia, insights division Soumya Mohanty added, “There is great diversity within the India Top 75: they are a combination of established names and dynamic young brands, both global and local in footprint. What they have in common is their ability to be essentially Indian. Through a deep and detailed understanding of consumers in the market, and adopting the local culture and ethos, even huge international brands are seen and cherished as ‘homegrown’. The trust and loyalty this engenders has helped Indian brands to suffer less and recover more quickly from the storms that have buffeted them over the past 10 years.”

    Other key highlights from the Kantar BrandZ Most Valuable Indian Brands report include:

    ·         Sustainability credentials have a major influence on consumer decision-making – almost nine per cent of Indian brands’ Demand Power – a Kantar BrandZ measure of the ability to drive predisposition to buy – comes from perceptions around sustainability. However, only 8% of brands in India are seen as leaders in this area, compared to 11 per cent globally, indicating an opportunity for those that can do more.

    ·         Differentiation is key to commanding Pricing Power – the ability to justify price charged. Brands that have grown in both Demand Power and Pricing Power over the last year did so by being Meaningfully Different. There are different routes to being perceived as differentiated: a brand could be seen as distinct, to be a specialist, or to have purpose.

    ·         The strength of the domestic economy has acted like a shield – Overseas contribution for the Top 30 Indian brands accounts for 31 per cent of brand value, compared with 47 per cent for Japan, 59 per cent for the UK, and 85 per cent for France. This has protected the ranking from the worst effects of international volatility. 

  • Mary George Parayil appointed as principal – Kantar Analytics India

    Mary George Parayil appointed as principal – Kantar Analytics India

    Mumbai: Kantar, the world’s leading marketing data and analytics company, has appointed Mary George Parayil as principal – Kantar Analytics India. Parayil has been a part of Kantar Analytics for the last 10 years, having managed global engagements as part of the global analytics hub in Bengaluru before taking on the responsibility of the Indian market. Parayil’s expanded responsibilities confirm the company’s continued growth trajectory in the market.

    Recent additions to the analytics portfolio include UMMO (Unified Marketing Measurement & Optimization), a cookie-less unified measurement solution that provides highly scalable, AI-powered, unified measurement of online and offline media, and Digital Mirror, an NLP-based digital analytics solution that decodes digital footprints using AI, helping brands to understand people more holistically – from unknown personality traits to emerging trends and detailed media consumption habits.

    Kantar executive managing director South Asia – insights division Deepender Rana commented, “Our clients already use the power and precision of Kantar’s analytics solutions to answer critical business questions. Clients use our pricing analytics offer to enhance profitability and combat inflation. CrossMedia helps allocate campaign budgets across media for optimal brand outcomes. Our AI-infused solutions are a natural evolution of our offer. Link AI is helping our clients test hundreds of creative assets, including digital ones, cost-efficiently in a matter of hours. UMMO uses AI for real-time advice on media allocation to optimise short- and long-term sales. Advanced technology capability is core to Kantar’s differentiation, and we will continue to invest in this area, helping businesses grow with speed and profitability.”

    Kantar MD & chief client officer South Asia – insights division Soumya Mohanty said, “Kantar in India is the leader in brand measurement, and as our client teams work closely with Mary, it will further amplify our ability to provide end to end solutions to modern-day brand problems.”

    In her new role, Parayil will report into Kantar lead – innovation South Asia – insights division Ranjana Gupta and will continue to be based in Bengaluru.

    Kantar Analytics is a global network of over 1,500 data scientists, analytics consultants, technologists, and designers. Kantar’s analytics offer delivers world-class thinking, innovative technology, and solutions to help clients achieve differentiation across the entire marketing journey.

  • Netflix, Jio lead in customer experience: Kantar report

    Netflix, Jio lead in customer experience: Kantar report

    NEW DELHI: Jio and Airtel have emerged as the top telecom operators in terms of customer experience, according to a report by consulting firm Kantar. Among streaming platforms, Netflix delivered the most consumer satisfaction, followed by Amazon.

    Music streaming services like Amazon Music, Spotify and Apple Music also made the list as "special mentions" for providing great customer experience.

    The new CX+ TMT report released by Kantar evaluates companies in the telecom, media and technology sectors based on a unique combination of their experience scores, and on dimensions that are critical to the customer's journey.

    The study analysed responses from over 6,000 customers across 13 cities in the country in early 2020 to find out key brands in the TMT sector that consumers are most satisfied with.

    In the mobile device segment, Apple topped the list, displacing Xiaomi as the technology brand that provides the best customer experience. OnePlus and Samsung tied for third place. As per the report, Apple has 1.8x higher engagement levels than those at the lower end of the index.

    Tata Sky retained the top spot in the satellite service provider category.

    The landscape across the TMT sectors has changed drastically over the last one year, said Sushmita Balasubramaniam, domain lead for CX and Commerce – South Asia, insights division, Kantar. "Consumers' adoption of and dependence on digital, whether for basic everyday living, working, studying or entertainment has presented enormous challenges to companies in these sectors. And, the changes in usage of products and services will also mean that customer priorities on the kind of experience they are seeking will be different from the pre-COVID era."

    Soumya Mohanty, chief client officer, South Asia, insights division, Kantar explained that there will be vigorous competition in the TMT sector owing to tech convergence and emerging global media giants.

    “Be it network services providers, handheld device brands or streaming media providers, all will leverage customer data to build personalised journeys, CX and owning the relationship with the end user will become increasingly important,” added Mohanty.