Features both current data on ad spending trends due to COVID-19 and historical data highlighting how brands that continue to spend on advertising through recessions come out more strongly when recessions end.
Global advertising spend is set to fall by 8.1% – $49.6bn – to $563bn this year, led by severe cuts in investment among major product sectors as a result of the COVID-19 outbreak, the latest WARC Global Advertising Trends report finds.
Dan Knapp looks ahead at the digital new normal and how we should try to interpret the coming situation. In its April 2020 forecast, the IMF predicts that Covid-19 and the global lockdown will spark the worst economic recession since the Great Depression of the 1930s.
Dr Gerard J. Tellis, WARC Webinars, May 2020
Gerard Tellis examines how various sectors are poised to win – or lose – as the pandemic plays out, why different sectors should be making different decisions about ad spending and product offerings and how your brand should operate in this unusual environment.
Multinational companies say they are likely to cut ad spending harder than originally planned, and for longer, in response to the COVID-19 pandemic, according to the latest research from the World Federation of Advertisers (WFA).
Gerard J. Tellis, WARC COVID-19 Series, May 2020
When faced with a recession, most firms cut back on advertising alongside cutting other costs, yet there is a body of evidence that suggests a positive impact for companies that keep advertising during a recession.
UK broadcaster ITV has had to adapt quickly, both commercially and in terms of production, during the current health crisis, and chief executive Carolyn McCall believes the company is now bouncing back.
Domino’s, the restaurant chain, is “not pulling back one bit on advertising” during the COVID-19 crisis, as it sees the value in its voice being heard, as well as clear advantages from other brands cutting back.
Explores advertising in a recession through the evidence available in the WARC archives and beyond. Typically, recessions cause businesses to rein in advertising spend in the short term, a mistake, that can cause long-term damage to a brand.