Hoarding sees unprecedented demand amid elections

 

 

CITY’S outdoor advertising scene is witnessing an unusual surge in demand, with nearly 800-850 hoardings within the city limits fully occupied due to the ongoing Maharashtra Assembly polls and the recent Diwali festivities. This phenomenon is rare, with all hoardings displaying various advertisements, making it once in a blue moon event. While hoardings in commercial areas like Sitabuldi, Itwari, Gandhibagh, Shankar Nagar Square, Central Avenue and Medical Square are fully occupied, residential areas are not immune to this advertising boom. Hoardings on Jaripatka Ring Road, Godhani Road, Besa, Hingna Road and many other similar places display commercial andpolitical advertisements.

 

This surge in demand reflects the city’s thriving economy and the effectiveness of outdoor advertising in reaching out to a wider audience, at least in the current phase. Itisimportant to note that the annualrent for hoardings in the cityranges fromRs 1-5lakh,providing a lucrative opportunity forhoardingowners tocapitalise on the increased demand for political and other advertisements. Some owners have even hiked their rates by 15-20 per cent to maximize profits. However, this boom is shortlived, as hoarding owners anticipate a 50 per cent drop in occupancy once the elections conclude. “The festive season has concluded and as soon as ongoing campaigning for the assembly polls ends, therewill be sluggishness in the markets,” said one of the hoarding owners on a condition of anonymity. Anotherowner expressedconcerns that the upcoming marriage seasonmight not generate sufficientdemand.“PostCOVID phase, we are not getting a good response during this period.

 

We have also seen ourclients adopting new channels like social media to advertise their products and services. This has also affected our business in a big way,” he observed. Thehoardingownerswillhave to wait till March-April to see increased demand when educational institutes start their advertising campaigns. Typically, hoardings experience 70 to 80 per cent occupancy during festival seasons. But this year’s exceptional demand has brought smiles on the faces of hoarding owners.