Mumbai: The diverse landscape of 2023 saw significant developments across various industries, with key players reflecting on their achievements and outlining future trends. From the resurgence of ethnic fashion to groundbreaking strides in plant-based nutrition, and the evolution of digital healthcare initiatives, each sector had its unique story. Additionally, leaders in public relations, creative agencies, and marketing shared insights into the shifting dynamics and emerging trends. As we enter 2024, these snapshots offer a glimpse into the innovation, growth, and transformative journeys that define these industries.
Here are some insightful quotes from various personalities
Shobitam co-founder & chief product officer Aparna Thyagarjan,
It has been a fabulous year for ethnic fashion. We witnessed a post-pandemic festive boom where every category did well. They say fashion repeats itself and we saw it. Multi-hued Checks and plaids on Kanjivarams, a hot trend in the 60s, made a sparkling comeback this year. We saw a huge demand for this from our customers across the globe.
In the age of social media, it is all about standing out and wearing outfits that bring out your personality in the most authentic way. A fusion outfit becomes an effortless choice to achieve that, as it can seamlessly fuse two distinct styles to yield a unique charm. Our fusion sarees like Chikankari saree with Banarasi border, Tussar silk sarees hand painted with Gondh art, and Trench coats crafted with Banarasi fabrics were instant hits with our customers.
We are also living in times of conscious shopping where the aim is to maximize one’s wardrobe. People also want to travel light and fuss-free for occasions. Hence the Mix and Match trend is here to stay where one can create multiple looks with a chic blouse or crop top. Our Mix and Match blouses have been a bestseller throughout the year for this very reason as they are very versatile and can be used in multiple ways.
In the coming year, there will be an iteration of mix-and-match trends. We will see a lot of metallics and pastels. The year will see more pastel representations of Banarasis and Kanjivarams. Indigenous folk art forms like Lambani art, Pichwai, and Pattochitra will dominate the ethnic fashion scene in 2024.
Nourish You co-founder Krishna Reddy
This year has been one with many milestones for Nourish You. Our strategic choices guaranteed an anticipated four-fold growth this year, showcasing our commitment to quality and innovation. The strides we've made, from securing substantial investments, and our first-ever acquisition to groundbreaking developments, have been phenomenal. Welcoming Samantha Ruth Prabhu into the Nourish You family as both an investor and ambassador has been an honour. Her long-standing relationship with our brand as a loyal consumer has significantly elevated our industry standing. Our achievement of securing $2 million in a seed round has served as a catalyst for our progress, what really stood out was the trust from investors like Nikhil Kamath (Co-Founder of Zerodha), Abhinay Bollineni (CEO, KIMS Hospitals), Rohit Chennamneni (Co-founder of unicorn Darwinbox), Abhijeet Pai (Co-Founder, Gruhas Proptech), Y Janardhana Rao (Triumph Group), Amplify III PCC, Triumph Advisory & Consulting (FZE), Mr. Himank Duvvuru. Nourish You also secured esteemed awards like the Poshak Anaaj Award 2023 from the Indian Institute of Millet Research (IIMR) and the Best Alternative to Dairy accolade from the Plant-Based Foods Industry Association (PBFIA) for Millet Mlk, affirming the credibility of our brand.
Our greatest milestone for this year was our first-ever acquisition. We’ve recently acquired One Good, India’s Most Affordable and Versatile Vegan Brand. This acquisition represents more than a strategic business move; it's a significant step forward for the entire plant-based industry. By combining forces, we are set to revolutionize accessibility to high-quality, affordable plant-based products in India. Through their shared commitment to innovation and accessibility, this union promises to elevate the entire landscape of plant-based offerings, fostering a more inclusive and sustainable future for consumers and the planet alike.
The Food and Agriculture Organization and United Nations recognised 2023 as The International Year of Millets, which has also given millet brands like us a fantastic boost. Participating in platforms like G20, Gulfood International Convention on Millets (Odisha), International Nutri Cereal Convention 5.0, and India Food Forum, Nourish You showcased the transformative potential of millets, advocating for sustainable nutrition on a grand scale. Additionally, recognition at the Prime Minister’s Shree Anna conference elevated our mission to national prominence.
The journey of Nourish You in 2023 exemplifies our commitment to nourishing lives and communities worldwide through wholesome, innovative food choices. In 2024, we gear up to amplify our commitment even further through strategic marketing initiatives and fortified brand identity; we aim to elevate our brand-building efforts. Concurrently, we're deepening awareness about the benefits of superfoods, continuing to lead the charge in innovative advancements within this realm, while also prioritizing the enhancement of accessibility to these nutritional powerhouses. By fostering a deeper understanding of superfoods, pioneering new innovations, and making these options more accessible, Nourish You remains steadfast in its mission to nourish individuals, farmers, and the planet, fostering a cycle of sustainable wellness for all.
Doceree founder and global CEO Harshit Jain
“The year 2023 witnessed an incredible evolution within the life sciences ecosystem, fuelled by unprecedented advancements in digital healthcare initiatives. With pharma marketers becoming assertive about the potential of Artificial Intelligence (AI) in creating solutions better and more effective than ever before, the year witnessed a strategic inclination towards making data-driven decisions across diverse marketing dimensions. The year also witnessed a massive shift in ROI towards script lifts over HCP reach. As we step into 2024, the landscape will continue to redefine itself, embracing personalized strategies that leverage AI and targeted engagement with endeavours of heightened precision in reaching HCPs. At Doceree, we are committed to spearheading this digital transformation, fostering fruitful global partnerships, and empowering the life sciences sector to achieve new milestones in a responsible, ethical and effective manner.” - Harshit Jain MD, Founder & Global CEO, Doceree.
Talking Point Communications (TPC) founder, Naina Aggarwal Ahuja
Trends witnessed in the PR industry in 2023 and what to expect in 2024'
"In the realm of public relations, 2023 saw a surge in digital storytelling, with brands adopting multimedia formats to connect with diverse audiences. There was also a lot of focus on heightened focus on authenticity and purpose-driven communication, as consumers increasingly seek meaningful connections.
In 2024, we are likely to see an integration of AI tools for data analytics which will help streamline campaign strategies, while sustainability and social responsibility will continue to be important themes. The evolving media landscape and emerging technologies will demand adaptability, making agility a prized asset for PR professionals. It will be a year where innovation meets purpose, and storytelling remains at the heart of successful communication strategies."
Virtue Worldwide creative head APAC Hayden Scott
2023 has been an exciting year full of growth and great work. The VIRTUE India grew substantially with exciting hybrid talent from varied backgrounds joining the party. We also stabilised and doubled earnings on key accounts and put out work that got us attention and accolades. Not bad for an agency as young as us! We see 2024 as being a year where we continue to expand our client roster and choose partners that believe in and respect the power of creativity.
Konica Minolta India managing director Katsuhisa Asari
Printing industry
“2023 was a testament to the print industry's resilience and adaptability in striking innovation, particularly in the realm of digital printing. Digital printing has become the preferred choice for many businesses due to its cost-effectiveness, versatility, and quicker turnaround times. The digital printing segment is projected to grow at an impressive rate of 6.7 per cent annually, cementing its place as a dominant force in the industry.
As an industry leader, we reached out to an untapped clientele in the hinterland of the country, across tier 2, 3, and 4 cities, with the latest tech in production printing and digital printing tech, empowering Indian businesses to successfully shape the future of the Indian Printing Industry, which is expected to reach a market size of to 279 billion rupees by 2025. By leveraging its strengths in intangible assets, Konica Minolta also seeks to create customer value through co-creation with customers.”
ESG:
"Staying committed to equitable and all-encompassing smart sustainability, Konica Minolta has been established as a pioneer, segment-starter, and innovator who leads the way in both digital and physical print solutions. Sustainability will continue to spearhead print solutions in 2024, as it did in 2023, with a greater emphasis on margin-friendly, ecologically sound solutions that can be driven at scale. Sustainable solutions are growing to become the need of the hour for businesses because they lead to an increase in operational efficiency, attract new customers, increase competitive advantage, build public trust, most importantly contribute to a healthier planet, and in driving cost savings, customer loyalty, and employee morale.
We set our global ESG vision in creating a positive impact on society while ensuring the longevity of our business, aiming to become carbon-minus by 2030. To support this mission in India, we partnered with a renowned logistics company to deliver products and accessories via 2-wheeler and three-wheeler EVs to local customers, and under the PRAYAAS Initiative planted 4000 plants, which culminated in 2023. Together, we can multiply efforts to execute sustainable goals at scale, that will prime us and our businesses from future disruptions.
Turmeric Consulting founder and principal consultant Roopa Badrinath
The year that was - 2023 dealt a blow to humanity with wars and catastrophic natural disasters. The geopolitical uncertainties cast a shadow on organizations with relentless pressure on revenues, margins, and profits. Generative AI kept all professionals awake in the night. Organisations were running prototypes to see which areas of their organization could use AI efficaciously. There was consternation about the possible entry of human biases into AI algorithms. Globally, DEI faced a backlash which had the potential of undoing years of concerted work in the space of affirmative action and inclusion of historically under-represented groups. The movie ‘Barbie’ became a poster child for DEI and earned both accolades and brickbats for its take on patriarchy and toxic masculinity. Conversations around mental health and menopause showed signs of normalization. Women rocket scientists were at the forefront of our country’s successful moon landing of Chandrayaan-3 which could inspire several young girls to be what they see. The DEI needle also showed signs of moving beyond women as a diversity strand to include LGBTQ, PwDs, neurodiverse spectrum, and generational diversity. Organizations began to acknowledge the importance of remote working for women to expand the shrinking talent pool. In addition to several campaigns that challenged stereotypes, work like #ShareTheLoad from Ariel challenged gender role stereotypes effectively. Industry bodies like ASCI and Unstereotype Alliance played a definitive role in raising awareness around DEI through impactful sessions for the A&M industry.
Focus for 2024 – AI will continue to occupy our mind space in 2024. But more as an ally than as a threat. Serious efforts will be expended on eliminating human biases from AI. Companies will focus on arriving at a win-win formula to reduce the friction with employees on return to office and flexibility. Mental health and well-being will continue to be critical to address the burnout faced in 2023. Companies will be mindful of performative DEI with consumer and employee activism continuing to demand accountability from them on both the DEI and ESG front. While continuing to push for ROI, leaders will realize the business case of DEI and prepare for a marathon as against a sprint. Creating a strong sense of belonging (which is critical for employee engagement) through intentional inclusion will lead to an increased focus on pulse or listening surveys action planning. Industry bodies like WFA, Cannes Lions, ASCI, etc will continue to goad the A&M industry to step up and be the lighthouses of positive behavioural change through the work they do.
Let's Influence founder Bhawna Sethi
As the year wraps up, let's think about the journey we had in marketing – growing, trying new things, and making real connections. In every ad, plan, and interaction, we told stories that meant something and used strategies that got attention. This year wasn't just about hitting targets; it was about making genuine connections with our audience and leaving a strong impression on them.
In the world of marketing, every click, share, and interaction is like a musical note making our success song. As we say goodbye to this year, let's take with us the things we've learned, the wins we've enjoyed, and the problems we've faced and overcome. Every marketing project was like a canvas where creativity mixed with strategy, creating exciting and effective campaigns.
Looking forward, the new year brings opportunities for new ideas, unexplored areas, and lots of creativity. Let's keep pushing our limits, welcoming change, and making stories that not only sell things but also touch the hearts and minds of our audience. As marketers, we create experiences, and in the next year, let's craft stories that not only sell but also leave a lasting impression.
Here's to a year of fantastic marketing, a collection of brand stories, and a future with lots of possibilities. May the next year be a canvas for our bravest ideas and the stage for our most successful campaigns. Cheers to a Happy New Year from the marketing world – where every story begins, and every brand speaks its truth.
Curefoods founder Ankit Nagori
An e-commerce pioneer, Ankit Nagori is the Founder of Curefoods, the leading F&B operator in India, which houses popular food brands like EatFit, CakeZone, Sharief Bhai, Chaat Street, YumLane, Juno’s Pizza, and so on. He is also a co-founder of Cure.fit, a holistic healthcare platform.
Soon after his graduation in 2007, Ankit founded a social media startup- Youthpad, which he ran for three years. He then joined Flipkart as a manager, where he rose quickly among the ranks to spearhead the company’s operations as its Chief Business Officer. In 2016, after a six-year tenure at Flipkart marked by several groundbreaking initiatives launched by him, Ankit left the company to establish Cure.fit, along with Mukesh Bansal. In his current role leading Curefoods and EatFit, his ambition is to grow the company further as a forerunner in the cloud kitchen space and expand its network across the country encompassing a diverse range of cuisines and food brands.
Ankit’s commitment to this industry is fueled by his longstanding passion for food and fitness – a trait he is also well-known for in his personal and professional circles. He is famous for hiking the 9km distance between his home and office in HSR Layout to commute for work.
A sports enthusiast, Ankit captained the cricket group at the Indian Institute of Technology, Guwahati, his alma mater. He continues to honour his love for cricket by regularly participating in his cricket club matches as a pace bowler. He is also an active volunteer with the Simply Sports Foundation.
An avid movie buff and a voracious reader, Ankit’s eclectic choice in literature spans mythology, political commentaries, thrillers, and graphic novels. He has perused Mahatma Gandhi's The Story of My Experiments with Truth and the Mahabharat a few times. Ankit also draws inspiration from meeting new people.
Frodoh World founder and CEO Russhabh R Thakkar
As the year draws to a close, I am excited to reflect on Frodoh's journey in the Connected TV advertising domain throughout 2023. We have navigated the landscape as a challenger brand, learning and growing along the way.
In a dynamic industry, our focus on reaching and engaging audiences has been unwavering. This year, we have observed a notable shift as advertisers increasingly recognize the potential of Connected TV advertising to reach premium and affluent audiences. Advertisers are leaning towards CTV because of its precise targeted advertising, ensuring better engagement with specific audiences. Unlike traditional methods, this approach proves more effective in reaching the right demographics. CTV's easy integration into smart homes and the rise of wireless tech contribute to its appeal. By also strategically targeting users exposed to Connected TV ads on mobile platforms, we have harnessed the power of action-oriented creatives.
As we bid adieu to 2023, the numbers paint a vivid picture—25 per cent more connected households, 3+ daily hours of content consumption, 30 per cent growth in regional content, 40% voice command adoption, 15 per cent rise in gaming engagement, and a 20 per cent surge in personalized ad engagement—all etched on the canvas of our connected TVs, shaping a year where technology and humanity converged. Looking ahead, we are bullish about the trends shaping the Connected TV space in 2023. Our commitment to innovation remains steadfast, ensuring we stay at the forefront of industry advancements for the success of our clients.
Here's to a transformative 2024, marked by continued growth, learning, and the limitless possibilities within the ever-evolving digital ad-tech space.
