Through most of 2020, the OOH sector was hanging on a very thin thread. But as the traffic mobility increased the bounce-back began for OOH, it took off rapidly. Due to segments like Real Estate since they are always known to boost the sector and the BFSI category the recovery has seen a progressive change. From two prominent sectors, Real Estate and BFSI, billboards have been covered with advertisements over the last few months. Since people aren’t hotspots for COVID the people migrating towards the outskirts of the city are the affinity for OOH in the current environment, as for Real Estate. An innovative ROB innovation in Bandra was founded by Godrej Properties.
Kajara Infrastructure and Hiranandani have been advertising on OOH confirmed by Times OOH, adding to the list. Times OOH confirmed that brands advertising with them are Bank of Baroda, SBI, IndusInd Bank, Saraswat Bank, IDBI Bank, and AMEX, as for the BFSI sector. CEO of MOMS Outdoor Media Solutions, Jayesh Yagnik commented that the two categories consider OOH as the reminder and impact media as they are high involvement categories. The project catchment area campaigns are crucial, for real estate, which has localized OOH movement of consumers and is in line with today’s trend. With a lot of people investing at the last minute for tax saving and financial purposes, JFM has always been a vital time for BFSI. In Q4 there is a huge surge in the % share of this category. Head of Strategy of Kinetic India, Arijit Chakrabarti commented about the rise of Real Estate advertising that is for Real Estate Lockdown and post-unlock created a unique opportunity. Various brands have launched multiple new projects focusing mostly premium segment.
Right from the unlock in June a strong recovery has been made to OOH by the category. They saw a growth of 85% in the value terms over June 2020 till December 2020. January to March is key months for BFSI because in that period most brands are active. Nearly 80% of the clients have returned to OOH as of December. Which shows the clear power of OOH. In this category there are about the top 50 brands present on OOH, there was no escaping the value propositions that OOH delivers from June till December 2020. The key driving subcategories in BFSI are life insurance and consumer banking.
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