 Good morning everyone. Thanks a lot for exchange for media, business world for inviting us to give a perspective from a consumer lens. A lot of times we talk about brand building from more from a market perspective also, but during these times it is important to understand where is the consumer currently, what is it really seeing and look at the entire perspective from their lens. There are challenges which are currently which we know is facing the world overall and there are certain challenges which even India is not really immune to. Let us look at what are these challenges, how do really the consumer really see where the brands are placed currently in these challenges and what do we need to do going forward. So, it will be four to five different aspects that we will talk about right now, but before that first we all know what is really happening currently. Yes, we moved away from COVID, but post COVID there was the Ukraine war which really happened the global conflict. Then there is inflation and then there is a potential recession which is there across the world. Yes, the recession is not so much for India, but there is a slight slowdown which might happen which we are really seeing possibly in the GDP numbers which also will get released today for the Q3 numbers in fact. We can see this from world panel data also that there is a concern among consumers 92% of them have spoken about inflation as being one of the main concerns for them. Other Cantas surveys have clearly mentioned multiple aspects. Recently we have done a survey very close to the union budget where we found very clearly consumers talking about inflation as their top most concern in India and also gets reflected in the FMCG volumes which have actually come down plus there are a few other aspects in terms of the tech layoffs, job loss, etc. So what are we really trying to do today? We will try and understand these four aspects because these are burning questions and questions which we as Cantas receive a lot from brand builders from clients quite a bit in terms of understanding where the consumer is currently on each of these aspects. So first is more in terms of understanding inflation. What are they doing right now? What is happening to their current basket? What is the mix between essential and discretionary spends? How is it really changing? From there moving on to the entire price premium quotient. What is really happening out there? Can brands in these times command a price premium? How do they really command a price premium during these times? Then looking at can it really be media dark because for example funding is the challenge or if there is a little bit of a slowdown which is really happening there is a budget cut. So can I go media dark and for how long? Then looking at digital in particular, how can it really create a greater impact because more and more spends obviously are going to digital. So what is really happening out there? And finally the entire aspect of India versus India, urban versus rural divide are there opportunities and even among those opportunities what do brands need to do out there? But first let's look at the tenants of brand building because those are constant, those are not going to change whatever really happens. So from canta brand Z and this is a report that we really publish every year in India and globally and across 30 plus markets in countries out here. What is really happening out there is that we always talk about strong brands and strong brands always tend to deliver very well even in a turbulence time. They go down lesser and they also bounce back much more strongly. So that's first aspect of investing in brand building is absolutely critical irrespective of the times we are in currently. Second aspect is that when we look at the brand and their equity, we clearly see that equity is a function wherein actually it drives overall valuation. So there's a valuation change which really happens when your brand equity or brand power actually goes up and we have done this analysis across multiple brands over a period of time where we see brands which have actually had an improvement in their brand equity, they've had a jump of 98% in terms of overall brand valuation. That's more from an importance of brand building plus what do you really do that more in terms of saliency and being meaningful and why are these two pillars absolutely critical because when we really talk about saliency, meaningful and differentiation which is the overall Kantar model, we look at saliency or mental availability. Does the brand come to your mind immediately or not? Is it relevant for you? And do you have affinity with the brand? And meaningful is a square which is like almost four pillars of your brand, four corners of your brand. What really happens is that even if I am slightly lower on saliency or differentiation because there is competition which can catch up quickly on differentiation like what we really saw between in telecom, geo, et cetera, over the period of time what really happened, we have seen meaningful to be a most powerful metric because that is the foundation. That is really an aspect where you really are looking at building affinity as well as relevance with consumers. And a brand which is actually improving saliency actually has a jump of 16% in valuation but actually a brand which improves on both aspects of saliency and meaningful. There's a 31% increase. That's a huge jump, almost double 2x. The key question, inflation, what's really happening out here? First is more in terms of the concerns. When we have done multiple surveys, we have seen that across the world, inflation economy right now is in the top three in terms of overall concerns. Inflation leads in that in terms of 31%. And COVID has actually almost moved out of the top three right now. But there is a change which is happening and inflation is clearly hogging headlines right now. And what's really happening? The mix between discretionary spends and spends which can be, for example, for big purchases, long term, et cetera, globally there is a change. So yes, on basics, on household items, et cetera, we may still end up spending. That's almost like an essential. But there are certain aspects like dining out or large purchases or a new car. There's a concern. But having said that, why is it not really a concern in India? Because opportunity especially on big spends is still higher. If you see where India is placed currently, there are only 22 cars per household, in terms of 22 cars per thousand households which are there. So there's a huge opportunity which has moved from 12 or decade back. So there's still a huge opportunity and there's a reason you're seeing that overall sentiment out there plus the aspiration. But what's really happening is when we look at India in particular right now, and this is data for APAC versus India, we clearly see that there is an increase which is really happening more from a value perspective on essentials. But on personal care or a few other products it is actually going, it is flat. It's stable versus the last year. So there's a clear difference between how essentials versus personal products are getting classified currently. But even on essentials, consumers are trying to make a differentiation out there. So because the budget is X, there's an X number of disposable income and inflation is eating up some of those disposable income also. What's really happening is that people are actually then looking at frugality. In terms of, for example, can I actually use lesser number of lesser oil? Or can I actually use a toothpaste? This is a study which is done even in Thailand recently where we saw and it was validated very clearly that people using just three fourths on the brush versus the full part of the brush. So that's how consumers are trying to save more during these times, buying essentials, but trying to save as much as possible. Even on that, what's also happening is that people are moving from branded to unbranded in certain categories, like for example, washing powder. There's a clear increase that we have seen on the unbranded side currently. As well as the mass segment washing powder actually increasing from 31% to 41%. So there is a shift which is happening, a slow shift which is happening during these times, even on essentials. So how do brands really maintain their margin and pricing power? And that's an important aspect because, and this data is for Europe. What do you see out there? And I'll touch up on this first and before coming to the India data. What do you really see out here is that if you look at what we've been going to now, so the overall purchase frequency is actually coming down. Visits are coming down and the basket size is increasing in Europe. Every time I'm going, I'm buying bigger packs, bigger basket size, and purchase frequency is coming down. But that's not true for the developing world. What is really happening out here is that the price elasticity on large SKUs is a lot more sensitive. So India is a lot more sensitive on those aspects. So you can see a gap across all categories except for salty snacks, where you can see that the sensitivity is very high, for example, biscuits or even deodorants or a few other products, there's a high sensitivity. And the reason that's really happening is that if you are going for a, we all know a large SKU actually is far more beneficial in terms of price per unit. But when someone is actually going and visiting, when he's actually purchasing the outlay is much more when you're buying a large SKU. So they end up buying a small SKU still and try and see that how can I stretch that small SKU for a longer period of time. That's what is really happening out here in India. Yes, we just spoke about and there was a question on sale and discount. And this data is very clear. It can work for a particular period of time, but it actually falls through. Like for example when we really look at promotions. So there have been multiple times promotions have happened for Tesco, but then after the promotion has stopped, the brand sales have actually come down. So there is very clearly an impact and how much you can really run the discount for a period of time in certain categories. Hence, value becomes important rather than just discounting. How can you really charge value and how can you charge a premium and get value? It is again looking at what drives premiumness across categories. From the entire Brand C database, we clearly see that differentiation is absolutely critical with meaningful. 49% of the weightage comes from differentiation if you need to drive premiumness. Yeah, differentiation is not easy and it is more about uniqueness and setting trends, etc. But absolutely critical to drive differentiation to command a price premium. There can't be a better example than this. We all know this brand. So premium beer, Indian beer, which actually stands a lot for differentiation. Wheat based beer which is also commanding a premium currently, but consumers pay for it because they see a lot of value in it. So these are some of the examples where we can clearly see that how a pricing power can be attained based on what the consumer really sees as value. Looking at this particular question, in terms of should I really go media dark? What is the time period for which can I really go media dark? So what we did was we ran a time series analysis on continuous data across different measures and we looked at if there is a budget cut for almost 6 months and then what really happens to the brand in terms of awareness, in terms of communication and will the brand really bounce back quickly later on if we start spending. What we realize what you need to it will bounce back, but the spends out here what you can see are much higher than even this time period. So the budget cut at that point of time can impact the scores including communication etc. But to bounce back and reach the same level, it will take a lot more investment effort. So sustainability is key even during these periods even if it is not large spends. And what are consumers really saying? During these times what do they need to see and what do they want to see? Offer something which has got a positive perspective. Talk about how you can really help me during these times. These are the two important elements and aspects which are critical. Summarizing these three sections right now more first in terms of value not discounts what we really saw. Create a meaningful differentiation to command a price premium. Third is look at the SKU mix and can there be smart SKUs in between if there is too wide a gap between the lowest SKU and the highest SKU. Finally continue investing in your brand don't stop advertising, but at least have some measures for sustainability. So digital advertising how do we really create impact and the reason this question really came up because we do get a lot of questions from clients in terms of digital actually in terms of spends increasing quite a bit. What is really happening how do I really measure my ROI out there and which kind of ads and communication will work because I can put a number of digital ads but what is going to work for me or not. So first is from an internet penetration perspective and if you really see the overall numbers which have been projected to 2025 there is a growth almost 900 million who will actually have active internet access on a daily basis by 2025 which is again a fairly huge number and that growth is also happening. Second thing is that the overall time spent is also increasing we clearly see that because for example duration of time being spent on the mobile that has increased by 21% from 2019 to now. Similarly look at the daily active users are 30% urban is almost 90% right now overall 30% in terms of increase and 90% in terms of the overall urban penetration active users. What is also happening is through multiple other studies that we have found out that the digital touch points and their impact is overall increasing if you see from 2018 to 21 there is a clear increase which is really happening through surveys that we have done to understand the impact of the digital touch points on the brand. So what are we saying now? Since there is a lot of advertising and the digital touch points are also increasing from a solution perspective what we had done a few years back a couple of years back I had launched link AI. Link is actually the advertising pretesting tool that we have but what we felt was that it is very important for marketers to get something really on the tap. So if you give an ad and if you test an ad you don't need to really wait for 2-3 weeks or even 15 days to get the results. 15 minutes is what it takes for you to really just get the results in terms of behavioral metrics, creative inputs and what can happen to the brand and this is again mined from database over a period of time over the last many years and is also India specific. Comes in a very neat dashboard wherein you can actually see all the metrics at one go. You can even have a comparison across different ads that you have tested on the same metric and is also very specific to the overall context. It is YouTube, the platform Facebook across. Finally looking at India and Bharat, is there a need for a differentiated strategy and there are four aspects we will just address out here. One is more from a consumer involvement perspective and awareness. Second is from a creative. Third is from a media angle. First more in terms of awareness. What we will see across studies that we have done and this is again Kantar Rural Syndicated Studies on brand that we do. We clearly see a difference in terms of urban versus rural in terms of awareness and average awareness and recall. For some categories the difference is even higher which is like for example skin cleansing etc. T is still moderate. But you can also see for example like hair care 3.3 versus 4.8. So there are differences which are clearly there across categories that we see. So there is definitely a road ahead even in terms of building awareness currently. Second is we took up two basically two segments in two sectors and completely different. One in terms of the CPG and second was retail to see are there differences in urban rural in terms of understanding. So first was more in terms of looking at urban versus rural in the oral care category. Very clear in rural aspiration and optimism drives it very clearly out there. Versus in urban is a lot more functional in higher order benefits, whitening etc. Similarly when you really look at retail out here you can actually see that for them when they are visiting a store or even retail outlet ambience and the store has to be of particular way for them to feel because it is an occasion for them to go visit and even actually purchase. So these are some of the differences which really come through very clearly between urban and rural across categories. Second is again question and a lot of times CTV penetration is roughly around 6% but from a connected TV perspective also you can see 33% of the overall number is actually coming from rural right now for connected TV. Fairly sizable number if you really look at the overall mix currently from a media perspective. So mobile as well as TV in particular how it is being used out there. And finally from an advertising and a creative perspective what are the three or four things that brands need to do. First is look at executions more in terms of are they really simple. Do they talk about the movement of truth currently? And are they more of the slice of life executions because that's more easier for people to understand out there. The rural consumers in particular. Storylines keep it as simple as possible and when you are really looking at analogies, metaphors etc. they need to add to the plot very clearly rather than being separate for consumers to understand. And finally the most important aspect singular message not having layered messages out there absolutely singular message is critical. So these are more in terms of India versus Bharat also. The key learnings from an advertising as well as media and movement perspective. Thank you.