Micro influencers will be even more critical for consumer engagement: Ipshita Chowdhury
The start of a new year is seen as bringing in new operational efficiencies, stronger strategies, a far greater emphasis on building deep bonds with various stakeholders and consumers. In keeping with the current market ecosystem, technology and a human approach are seen as going hand in hand.
As 2023 kicks off, Adgully has approached key industry leaders to Crystal Gaze into 2023 to highlight the major trends and developments that they see dominating the industry in the year ahead.
Ipshita Chowdhury, CMO, Valvoline Cummins, speaks about some key trends that are expected to dominate the automobile industry, especially the lubricants market, in 2023, the bright future of E-mobility in India, as well as Valvoline’s brand building efforts in the year ahead.
Key trends dominating the automobile industry in 2023
I think going forward, differentiating brand with value propositions that create real impact in consumers’ day to day lives will be the key. Specifically, in the 2-wheeler space, wherein the consumer expectations are continually evolving, we do expect significant market actions here. In the passenger car segment, brand building with clear benefit related communication around transition to full synthetic will dominate. Digital marketing will evolve further with more focus on the intersection of snackable + language content. We do see this gaining traction even within the commercial mobility space. Micro influencers will become even more critical in engaging with the consumer.
Major expectations
India’s auto lubricant market is one of the fastest growing markets compared to other countries in the world and with an uptick growth of auto industry, it is anticipated to grow at a CAGR of 4.77 per cent by 2027. The latest Moody’s Report suggests India is set to see the strongest growth in automotive sales in the coming years which will boost the demand for auto lubricants as well. The demand for automotive lubricants has a direct correlation with on-road vehicle movement.
Automotive sales will be fuelled by people’s preference for personal vehicle over public transports. Besides, with consistent economic development and growing disposable income of people will be major factor for people shifting from 2-wheelers to 4-wheelers, which will augment the demand for passenger car motor oils (PCMO). In addition to that, the government of India is aiming to construct 60 km of road per day in 2023. With such transformation of road infrastructure, more and more vehicles are expected to hit the road.
On the other hand, we are also witnessing consumers adopting conscious choices towards environment and buying EV vehicles. With the advent of path breaking EV Technologies, India is poised to grow gradually, but the future of E-mobility is definitely bright.
Focus areas for Valvoline Cummins in 2023
Our loyalty platforms with influencers – Bike Xpert and Truck Xpert – will continue to be a major focus for 2023, enabling and empowering them with greater digital footprint and traffic generation. Brand building efforts will continue to make Valvoline synonymous with the Original Engine Oil. Consumer benefit-oriented campaigns in personal mobility will gather momentum along with our continued emphasis on building and strengthening our relationship with mechanics.