There is a lot of conservatism among consumers these days: Sunil Lulla

Sunil Lulla is Chairman and managing director of Grey Group India

Ad industry growth for the last year will be lower than anticipated, but the sense of optimism is still there, Sunil Lulla tells Sangeeta Tanwar
 
What has been the impact of demonetisation on the advertising industry?
 
Let us accept that consumers of goods and services faced a sudden and huge shortage of money supply. Indians like to hoard. So whatever money they had they decided to hoard immediately after the announcements related to demonetisation. So purchase was restricted to essential items. For most categories, there was a huge drop in consumption in the months of November and December.