Consumer Sentiment Is Rising Without Any Doubt: Mike Cooper, OMG

By his own admission, Mike Cooper, the CEO for the APAC and EMEA regions for Omnicom Media Group, is an optimistic person, who takes a long-term view of every situation. Cooper is also among the global industry leaders who have always kept high expectations from India as a market. None of this changed in the Covidian year. 

No surprise then that Cooper believes there is good news on the horizon, which will impact the marketing sector as well. “There is development around the vaccine. We had the US Election results that should lead to greater international collaboration and boost global trade in 2021. Consumer sentiment is rising without any doubt. When we return to normalcy, the shift would come very rapidly. There is a massive amount of pent-up demand. All of these are reasons to be optimistic about 2021,” Cooper argues.

He cites the second phase of the lockdown as an example of how the state of shock and uncertainty has passed, and consumers are navigating the current scenario.

The evidence of the return of consumer sentiment is seen in the recovery of the stock market as well. “We have always encouraged our clients to invest in their brand and stay in front of the consumers. There is already some rise in demand seen even in the sectors that were adversely hit. I have been speaking to our clients across sectors, from hospitality to auto, and this is true for all. This gives me reason to believe that 2021 would be much busier than we imagine, and we should be prepared for it,” Cooper comments. 

Traditional Vs Digital - Not As Simple

Cooper advises not differentiate in terms of traditional and digital. He explains, “What we call ‘traditional’ have already developed their digital channels. The lines have blurred so much that sometimes you do not know the platform where you read a piece of new or consumed content. Most traditional media owners are running their content on digital. I do not see the demarcation. Marketers will go to the place where they get the best possible consumer engagement, and where consumers get the best brand experience. It is up to agencies on how they exploited this.”

Covid had a revolution of sorts in the role of digital media, and this will continue to grow going forward, according to Cooper. He explains that while digital has seen “extraordinary explosion”, media such as films or cinema and out of home, which are two major media in India, will also “come back very quickly” in 2021. “There are winners and losers but the ones that adapt quickly will win,” Cooper points out.

The Omnicom Media Group Chief also believes that Covid-19 may have put India in a stronger position. “There has been argument India’s lack of investment in physical infrastructure has been a handicap in comparison to a market like China. Covid put India in an interesting position because the current investment in digital infrastructure will help India leapfrog in its preparedness for a full digital economy. India will be in a better situation to thrive in a future where businesses can do anything from anywhere.”