Titan Company to up digital marketing spends by 50% for its watches division - The Financial Express
So far, the company has been able to recover little less than 10% of its sales, compared to pre-Covid timesConsumer goods company, Titan Company Limited, plans to increase its digital ad spends by 50% for the watches and wearables division in FY 21, Suparna Mitra, chief executive officer, watches and wearables division, Titan Company Limited told BrandWagon Online. “Our advertising spends for this year will be lower than FY20- but it’s difficult to put a specific number to it. Much of this will depend on the rate of sales recovery. However, the proportion of digital ad spends will rise,” she added. The company claimed to have spent about Rs 100 crore in advertising on watches in FY 20.
According to the company, sales have started to pick up since June and July with the company recording an increase of 30%-40% across channels. “Traditionally, digital channels contributed to around 15% of the sales. This contribution has approximately doubled in the first few months post lockdown,” Mitra noted. Further, the company claims that a large segment of consumers who still prefer to shop offline — are now using online channels to browse through products, before purchasing through stores. As a result, the company has begun to gradually increase advertising across traditional media such as print and television. So far, the company has been able to recover little less than 10% of its sales, compared to pre-Covid times.
To be sure, the company is aiming at a complete recovery of sales by the last quarter of this financial year. Moreover, it has rolled out a new campaign #LetsGetIndiaTicking, a movement urging individuals to kick-start the wheel of the economy post lockdown. “The thought that struck us was – can we do something to encourage each and every individual to do their bit to get the economy out of its slumber,” Mitra explained. The campaign is being run on Titan Company’s offline and online channels.
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