In a recent afaqs panel discussion, experts explored how marketers can leverage connected TV (CTV) and retail media to reach consumers more effectively. As traditional advertising formats evolve, CTV and retail media are gaining prominence as powerful tools for marketers. According to an EY-FICCI report, India boasts around 20-25 million CTV households, while retail media spending for Amazon and Flipkart in FY23 reached Rs 30,000 crore, as per an ET report.
The panel, ‘New Frontiers: Utilizing Retail Media and CTV to Unlock Growth,’ was part of the afaqs! Marketers Excellence Conference. Moderated by Venkata Susmita Biswas, executive editor at afaqs!, the panel included Esha Arora (SVP of Growth and Insights, Info Edge India), Krishna Menon (COO, QYOU Media Inc), Pallavi Barman (Chief Strategy Advisor, HRX), Vaibhav Kapur (Senior Director of Monetisation, Flipkart), Varun Mohan (Head of Growth and Revenue, MiQ India), and Vignesh Narayanan (VP and Business Head of Media, JioAds).
Advertising on Retail Media
Vignesh Narayanan of JioAds highlighted their goal to exceed what Google and Meta offer by driving value for brands and the broader ecosystem, including both advertisers and publishers. With Jio’s diverse operations spanning retail, e-commerce, telecommunications, and content, the company gains a holistic view of user behavior, enabling precise, activity-based targeted advertising.
“We offer a complete omnichannel advertising solution through our extensive ecosystem and partnerships with over 40 publishers,” Narayanan said. “Effective advertising involves reaching the right user at the right time with the right content, ensuring ads are delivered in a brand-safe environment.”
Vaibhav Kapur from Flipkart emphasized that modern marketers seek retail media solutions addressing the entire consumer journey, not just the final sale. He cited a campaign with Samsung to promote the Galaxy AI phone, which used an integrated approach across the Flipkart app and beyond, resulting in a threefold increase in search volumes during the campaign.
“Our role has expanded beyond driving conversions to also building awareness,” Kapur explained. “As consumer behavior evolves, searches and review checks increasingly happen on e-commerce platforms.”
Pallavi Barman of HRX discussed their precision marketing strategy, which starts with homepage placements to build awareness, moves to category pages for consideration, and finally to product pages for conversions. This targeted approach, leveraging first-party data from Myntra, avoids inefficiencies and ensures effective audience targeting.
“Retail marketing now constitutes 60-70% of HRX’s budget because it delivers incremental revenue by targeting users who have already shown purchase intent,” Barman said.
CTV Advertising
Krishna Menon of QYOU Media noted that CTV advertising budgets are currently sourced from digital spending, but should ideally blend digital and TV broadcast strategies. Despite the industry’s nascent state, CTV ad breaks still often resemble traditional TV ads.
“While we’ve started using pre-rolls and other digital formats, the industry needs to mature in this aspect,” Menon said.
Esha Arora from Info Edge shared that CTV has become mainstream, providing mass reach for brands like Naukri.com, especially during major events like the IPL.
“CTV offers access to a higher NCCS audience and has become a part of our sustained advertising strategy,” Arora explained. “We can target audiences via platforms like YouTube on TV panels, Jio, and others, covering both live and pre-recorded content.”
Varun Mohan of MiQ India highlighted the evolving market, where CTV fills gaps left by linear TV, offering deterministic targeting based on content, devices, and OEMs.
“Marketers need to view CTV as TV getting smarter, not just mobile screens getting bigger,” Mohan stated. “Budgets are now coming from both TV and digital allocations, recognizing CTV’s value as a key platform in the overall marketing mix.”
The discussion underscored the growing importance of CTV and retail media in contemporary marketing strategies, emphasizing their ability to deliver targeted, effective advertising to today’s dynamic consumer base.
