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Score big with consumers, unravel the impact of major events on consumer spending

India's economy benefited from the ICC Cricket World Cup, with increases in consumer spending seen across industries, particularly benefiting hotels, restaurants, and sports merchandise stores. Small businesses, local eateries, and fine-dining restaurants all experienced a boost. To capitalize on the uptick in spending, retailers can extend operating hours, organize contests and giveaways, use social media platforms for engagement, launch advertising campaigns, and promote offers. A convenience retailer saw a 2% increase in sales by offering discounts on large meal bundles during a major sporting event. Marketing during major events can be challenging, but a global bank broke through the noise with a social media campaign during Diwali, reaching over 250 million impressions.

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