IPL unleashes a consumption wave

Last year IPL was held in South Africa and despite all the hype of taking IPL international, somehow the magic was missing. It was not the same feeling. The excitement was not the same. Some how the efforts just did not add up. Come 2010 and it all seems restored. Why is cricket not the same offshore? The stadiums there seems a lot more comfortable and spacious. While people struggle to find a patch to rest their tired buttocks at the Eden, there is so much room to wander at the Wanderers and while you get yourself roasted at Nagpur you could lord over the heat at Lords. And still the magic unfolds only in India. There is perhaps more than a single factor responsible. One is the crazy passionate cricket loving nation that India is and secondly the large army of consumers who expend goods and services at a faster rate than ever before. If one were to see the word "consumerism" come alive, one does not need to see beyond the magic of the IPL.

IPL has been responsible for the creation of new jobs and the expansion of old jobs. There is so much happening in and around the IPL to drive up consumption and spending that as an economy it would not hurt to acknowledge this contribution. Lets look at the businesses that have been reinvigorated by the IPL

1)Hotel Industry: Across the country in all major cities the five stars are busy playing host to various IPL franchisees and their teeming entourage. Besides the direct guests their a scores of indirect guests from sponsor companies and their agencies who need to be catered to. Then there are the fans who have travelled to be a part of the bonanza. There are several such groups that owe their existence to creative marketing minds who have designed alluring travel packages.

2)Airlines: The teeming IPL entourage have to be constantly on move and Kingfisher would not mind the extra business that flows in during March and April just before the summer holidays kick in.

3)New jobs: IPL brings with it several different kinds of unusual jobs. Ever thought there would be a demand surge for cheer leaders? Suddenly we have scores of beautiful maidens swinging their hips as the wickets tumble and the ball gets belted around the park. Other jobs that have emerged include blog writers, pod casters, team photographers and many more.

4) Entertainment jobs: As entertainment seamlessly merges with cricket on the IPL platform, creative professionals such as musicians, singers, choreographers and others from the creative ilk are in full action at the venues and IPL associated off ground programs and events.

5)Advertising and Marketing jobs: IPL is the biggest event for Indian television and marketers wait with bated breath to leverage this for communicating their goodies. The trp stuffed IPL platform becomes the perfect media vehicle for them to connect with their consumers. Brands like Maxx mobiles, Maxi max,Karbon mobile,Gojiyo have all come together on time for the IPL to engage with potential customers. What is unseen here is the work involved to make this happen. This would have been brought to fruition by the coordinate effort of several brand teams comprising of direct employees and vendors constituting the supply chain.

A canvas as large as IPL could only be stitched together by the harmonious coming together of its several constituents. Big money has chased IPL and its dividends flow all the way down either directly or indirectly to each and every stakeholder of this mega event. Big money in the hands is that which can be disposed off for the sake of other goodies and services kicking off what is popularly known as the "virtuous consumption cycle". Thus IPL has placed money in the hands of millions of people either directly or indirectly and thus proding them to spend and indulge in goodies and thereby giving a fresh lease of life to the people who create such goods and services. Wow! that's setting several production gears into sustained motion.
Psychological impact: When consumers feel good they tend to spend more. In the world of finance this feeling is termed as sentiments. IPL has given a boost to our collective sentiments. IPL sends several signals and the market catches and latches on to these signals. A successful IPL season portends several positives about the country. It makes one believe that the nation is reasonably secured and safe. The IPL has also helped shape the esteem of most Indians. From being perceived as a third world country, we now see ourselves as equals or perhaps more than equals. The best of the international cricketers such Kallis, Perterson, Symonds, Shane Warne, Gilchrist, Hayden and the list almost seems endless hired by Indians to play for city franchises. Doesn't this do something to sentiments of all Indians who have grown up studying about our not so envious past under that under colonial rule. To see these stars playing for us, dancing to our tunes, speaking our language in advertisements does cause one's heart to swell in pride and being Indian suddenly starts to feel nice. That's what IPL has done for us and our sentiments. Thus the IPL has created a perfect setting for consumerism and consumption to bloom, create a demand surge, enhance manufacturing and service capacities, create an exciting environment to take money out of our banks and invest in future expectations and last but not the least create several exciting jobs and putting more money into the hands of consumers for inducing more demand and thereby sustaining a virtuous cycle of consumption led growth of the economy and the nation.