As the world prepared to draw the curtains on 2019 and start 2020 with vigour and gusto, COVID 19 happened. The pandemic took the world by storm and paralyzed the economy world over. There were so many deaths reported. Seeing their near and dear ones fall ill and many of them fighting for their lives and eventually losing out, the pandemic was a very tragic occurrence. The virus restricted humanity to their homes and the lockdowns, they kept on extending.
Along with the emotional and physical impact was the big dragon of the economic impact. It has been as disruptive and chaotic as can be. India's growth in the fourth quarter of the fiscal year 2020 went down to 3.1% according to the Ministry of Statistics. And is negative growth as they say... On 26 May, CRISIL announced that this will perhaps be India's worst recession since independence. The impact is worldwide.
In this environment of uncertainties and no business outdoor advertising did not escape unscathed. The city, country and the world at large saw roads and roads full of hoardings and other outdoor publicity material lie vacant. The deserted look of the roads as if was a reflection on the hoardings too.Work from Home became the new normal and all the spenders tightened their purse strings, Waiting for the traffic to start flowing back. The traffic came back slowly after the people were tired of sitting at home and little by little the traffic returned but the apprehensions of spenders could not be put to rest. The un-surety reigned and insecurities creeped in to make large dents in all the spending’s of the advertisers and Brands.
The Vaccine was the Ray of hope that made people sit up in anticipation and start waiting for the much-awaited vaccine but this further shrunk the spending’s as people started waiting for normalcy and the urge to spend only once normalcy returns The outdoor hoardings are all full of civic messages in paucity of paid campaigns and the fate of Malls and Railway media is worse, as Malls opened much much later and the trains also started opening up very reluctantly.The train traffic suffered and so did the advertising.
We, at Alakh are using a strategy here for brands to use high impact sites with impactful creatives at very lucrative rates to rejuvenate the outdoor industry and slowly bring it back to its old glory. Clients with good spends can turn the frown upside down