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CONSUMER CONFIDENCE
UK consumer confidence has slipped further, reaching a record low for the second consecutive month, according to GfK Consumer Confidence Barometer , with the cost of living crisis and looming recession all impacting people’s outlook. A headline score is -41 for June, a one-point decline compared to previous month. Joe Staton, client strategy director at GfK, said: “Can it get any worse? The answer is probably yes.” He added: “With prices rising faster than wages, and the prospect of strikes and spiralling inflation causing a summer of discontent, many will be surprised that the index has not dropped further.” In comparison, overall index score was -9 in June 2021. Consumers’ view of their personal finances over the past 12 months has dropped one point to -23, while their outlook for the next 12 months has fallen three points to -28. People’s opinion of the general economic outlook is worse. Looking back over the past 12 months, the score drops two points to -65, with people’s expectations for the economy over the coming year slipping one point to -57. While a year ago consumers were very optimistic about rising after pandemic, with -2 for general economic situation score over next 12 months. Moreover, according to data from GlobalWebIndex survey, 90% of UK respondents feel the cost of living is more expensive than six months ago. 44% of people in the UK report spending less compared to 2020. 52% say they are cutting down on the energy used in the home, while around four in 10 say they are walking or cycling more (44%) or preparing meals at home (41%).

Original link: https://www.marketingweek.com/confidence-falls-record-low/

‘Can it get any worse?’: Confidence falls to record low The answer to that question is “probably yes”, according to the latest GfK consumer confidence index, which slips further into negative territory.

PREDICTIVE SEO TOOL
MediaVision, the integrated digital performance agency, launched three new products, whose crowning jewel is the Predict SEO platform. This happened after MediaVision’s data science and development teams spent 12 months working alongside global retailer New Look to ensure the tech delivered to real-world commercial needs – resulting in impressive revenue growth for New Look. The Predict SEO platform uses real-time data to move SEO beyond its traditional reactive and proactive elements, and allows it to spot future trends and create content sooner so that a business can earn high rankings. It is designed to fill the gaps left by major platforms by combining data sets and sources beyond their current means. Predict SEO is supported by MediaVision’s Share of Search tool – the first of its kind to provide weekly insights so brands can compare themselves against each other, and analyze and benchmark that detail over time. This marks a step-change from the monthly reporting under current industry tools. Share of Search help to identify competition at both a brand and product level, and understand the immediate impact of current marketing investments, allowing for better campaign customization and feedback. MediaVision’s Digital Demand Tracker scans search demand in real time across brand and market terms, and does so four times quicker than publicly available data.

Original link https://www.marketingtechnews.net/news/2022/may/20/mediavision-introduces-ground-breaking-predictive-seo-tool/

MediaVision introduces 'ground-breaking' predictive SEO tool The Predict SEO platform uses real-time data to move SEO beyond its traditional reactive and proactive elements.

MARKETING AND ADVERTISING
According to MarketingWeek, a majority of marketers (54%) believe marketing is poorly understood in today’s society. This represents a very slight increase (1%) from the last time marketers were surveyed on this topic in 2019, according to data from the Chartered Institute of Marketing (UK). 40% say they struggle to explain the role of marketers to others, perhaps surprising in an industry that focuses on communication and persuasion. 10% of those surveyed believe colleagues have no understanding of the value of marketing to an organization. This represents a 5% increase from the previous survey. Post-pandemic, 59% of respondents are also finding it more difficult to predict consumers’ priorities. While 91% say they will need to evolve their brand and business model to keep pace with these new priorities. 18% of marketers say traditional marketing and advertising is unfit for purpose. When asked why they feel this way, 55% say the rise of social media influencers who market themselves is the key cause, while an equal number cite the rise of customer experience technology. Meanwhile, the data from LinkedIn suggests creative skills in advertising like design, creative strategy, branding and art direction has dropped by 17% over the past five years. At the same time, the share of technical skills has increased by 47% over the same period. This trend is exacerbated when looking specifically at companies that regularly attend the Cannes Festival of Creativity. At these companies, the share of tech skills has increased 67% over the past five years, while the share of creative skills has decreased by 32%. The data also suggests talent is leaving the ad industry. Advertising has lost 5.5% more people than it gained over the past five years. By comparison, the tech industry has gained 23% more people than it has lost in the same period.

Original link: https://www.marketingweek.com/marketing-creative-talent-5-interesting-stats/

Misunderstanding marketing, inflation, creative talent: 5 interesting stats to start your week We arm you with all the numbers you need to tackle the week ahead.

BUY NOW PAY LATER
By the end of 2022, buy now, pay later (BNPL) transaction value in the US will grow by 77.3% to reach $75.60 billion, according to a forecast from Insider Intelligence. The number of US BNPL users will jump by 56.1% YoY to 79.0 million this year. Gen Z makes up the heaviest users, with more than half (55.1%) of digital buyers in that group using a BNPL platform this year – followed by millennials, Gen X, and baby boomers. Major retailers like Target and Amazon embrace BNPL, so acceptance is becoming more universal (both on-line and in-store). At the same time, major providers like Klarna and Affirm are doubling down on apps that make it easier for customers to use BNPL. As digital buyers become more comfortable using BNPL services, average spending in the US this year will jump by 13.5% YoY to $957.46 and will surpass $1,000 next year. Insider Intelligence forecasts that BNPL transactions will surpass $100 billion by the end of 2024. But Jaime Toplin, senior analyst at Insider Intelligence, said: “Though BNPL is skyrocketing, regulation looms. The Consumer Financial Protection Bureau’s recent push to caution consumers and subsequent inquiry into BNPL products could signal rule-making on the horizon. Applying new regulations could slow growth, interrupt seamless processes, and raise costs.” Other intrigue news is Apple’s announcement that the company will launch Apple Pay Later in the US later this year.

Original link: https://www.emarketer.com/newsroom/index.php/buy-now-pay-later-transactions-will-surpass-100-billion-by-2024/

US E-COMMERCE
According to the latest retail forecast from Insider Intelligence, US e-commerce sales will reach $1.050 trillion by the end of 2022 (slightly lower compared to Q1 forecast). The first time since 2009 US retail e-commerce sales growth will dip into single digits – an increase of 9.4% vs 2021. E-commerce’s share of total US retail sales will be 15.0% (up from 14.6% in 2021). Amazon’s e-commerce business will grow by 9.0% this year (lower than the prior forecast of 14.6%) to reach $397.43 billion. That will give it a 37.8% share of the US e-commerce market in 2022, a slight drop from the 38.0% it had last year. This is the first time Insider Intelligence is projecting a decline in Amazon’s US e-commerce share. Apple’s on-line business will soar by 13.5% to reach $40.79 billion, giving it a 3.9% share of US on-line sales. Conversely, eBay’s e-commerce business will decrease by 7.6% in 2022, reducing its sales to $36.69 billion and equating to 3.5% of US e-commerce sales. Apple’s share of the e-commerce market will surpass that of eBay for the first time. Insider Intelligence has increased its projections for total US retail spending in 2022. It expected to grow by 6.4% year over year to reach $6.988 trillion, up from the $6.796 trillion that expected in Q1 forecast. The increase in overall retail spending is driven mainly by inflation and higher fuel prices.

Original link https://www.emarketer.com/newsroom/index.php/us-ecommerce-will-cross-1-trillion-in-2022/

CYBERSECURITY PREDICTIONS
Gartner senior director analyst Richard Addiscott forecasts some cybersecurity alerts which should influence on business strategic planning. Privacy regulation continues to expand and the tech analyst predicts it will be extended to cover five billion people, and more than 70% of global GDP. It said organizations should track subject rights request metrics, including cost per request and time to fulfill, to identify inefficiencies and justify accelerated automation. By 2025, 80% of enterprises will adopt a strategy to unify web, cloud services and private application access. The benefit here is tighter integration, fewer consoles to use, and fewer locations where data must be decrypted, inspected and re-encrypted. By 2025, 60% of organizations will use cybersecurity risk as a "primary determinant" in conducting third-party transactions and business engagements. Only 23% of organizations monitor third parties in real-time for cybersecurity exposure, according to Gartner data. But as a result of pressure from customers and regulators, it believes organizations will start to insist on measuring cybersecurity risk, ranging from simple monitoring of a critical technology supplier to complex due diligence for mergers and acquisitions. By 2025, 70% of CEOs will drive a culture of organizational resilience to deal with threats from cybercrime, but also from severe weather events, civil unrest and political instabilities. Addiscott said: "With continued disruption likely, Gartner recommends that risk leaders recognize organizational resilience as a strategic imperative."

Original link https://www.zdnet.com/article/hacking-gets-dangerously-real-8-cybersecurity-predictions-for-the-years-ahead/

Hacking gets dangerously real: 8 cybersecurity predictions to watch out for Zero-trust troubles and more ransomware regulation make tech analyst Gartner's list of factors you need to plan for.

TWITTER USAGE
By the end of 2022, there will be 368.06 million monthly Twitter users worldwide, up just 1.5% from 2021, according to Insider Intelligence forecast. This comes after a pandemic-induced bump in 2020 and 2021, when growth was 11.2% and 4.3% respectively, when users flocked to Twitter for information. Usage will grow at a similar rate of just over 1% each year through the end of 2026, far below Facebook, Instagram, Snapchat, and TikTok. Most of Twitter’s growth will come from APAC, while growth in the US is turning negative for the first time since 2018. In 2022, the number of US monthly users will drop by 0.5% to 57.5 million. Growth will be slightly negative for the next three years, with the platform losing nearly 1 million US users by the end of 2026. Another concern—engagement among US users is stagnant. In 2022, adult Twitter users will spend 35 minutes per day on the platform on average, up 1 minute from last year. But engagement will fall back down to 34 minutes in 2023 and remain there through 2024. This forecast was made before Twitter accepted Elon Musk’s offer to purchase the platform. Jasmine Enberg, principal analyst at Insider Intelligence said: “While we now have a better idea of how Musk intends to increase usage of the platform – subscriptions, payments, and a mysterious business X – the goals he has set are lofty and signify a potential major shift in how Twitter is used.”

Original link https://www.emarketer.com/newsroom/index.php/twitter-maus-set-to-grow-just-1-5-this-year/

SOCIAL MEDIA AD ENGAGEMENT
YouTube is the most used social media platform in the UK with 88% of respondents using it since 2020, rising to 93% in Gen Z adults (aged 18-29), according to research from Channel Factory, a global video technology partner specialist. Meta (Instagram and Facebook) is a close second with 73% of respondents using the platform, followed by TikTok (54%) and Snapchat (51%). The research also shows that Gen Z users are four times more likely to use YouTube compared to Snapchat and almost three times more likely compared to TikTok. Meta remains the most popular social network among Millennials (aged 30-44). Ads that are aligned with the content have a 17% higher ROI. Millennials and Gen X (aged 45-60) tend to share a brand video ad when they think its content is relevant to their friends or family members (64% and 57% respectively). While Gen Z users are more inclined to share ads that they find ‘funny’ (59%) or ‘creative and cool’ (57%). Meta Image Ads are currently the first choice for users to shop on socials (32%). Millennials prefer Meta Image Ads and Meta Video Ads (41% and 35% respectively). Gen Z mainly engage with Meta Image Ad (40%), TikTok video ad (40%) and YouTube video ad (32%). Across all generations, Meta is considered the easiest shopping platform (44% of respondents ranked it first), followed by YouTube (25%). Users turn to YouTube to discover something new, unusual or surprising (35%) or to find out information about a topic of interest (35%).

Original link: https://www.marketingtechnews.net/news/2022/may/17/gen-z-users-are-three-times-more-likely-to-use-youtube-than-tiktok/

Gen Z users are three times more likely to use YouTube than TikTok Gen Z are most likely to share ads that they think are funny (59%) or creative, while Millennials and Gen X share ads that are relevant to their family and friends.

MAIL VS E-MAIL
According to a survey by Royal Mail Marketreach, 88% of people in the UK read all or most of their Customer Mail, compared to 76% for e-mails, 58% for texts and 44% for app notifications. In contrast to Advertising Mail, where the focus is to ‘sell’, customer mail’s primary objective is to share information, offer support and develop relationships between an organization and a named addressee. The research found that people are twice as likely to say that they understand complex information when it is presented to them in physical mail compared to digital formats and 57% of respondents report that they are less likely to miss something if it comes to them in a physical format. Customers engage with mail more than e-mail: 85% of them open it; 65% store it for future reference; 49% put it somewhere to action later; and 40% show it to others in their household. 42% of British consumers were encouraged to go paperless last year, but only about 24% did so. And this is not good time to cancel mailing people at all. Royal Mail Marketreach claimed that a combination of both physical and digital mail tends to be the best approach across a customer relationship.

Original link: https://www.marketingtechnews.net/news/2022/may/06/83-of-consumers-want-to-choose-whether-to-receive-comms-by-mail-or-email/

83% of consumers want to choose to receive comms by mail or email A combination of both physical and digital mail tends to be the best approach across a customer relationship, according to Royal Mail Marketreach.

LOST AD REVENUE
59% of marketers have lost revenue since Apple’s IDFA changes, the phasing out of third party cookies by Google, new privacy updates, and changing ad regulations, according to ‘The App-ocalypse’, a report from Bango Audiences, a cookie-less ad targeting tech. The research, which surveyed more than 300 app developers and app marketers, found that 64% of marketers are concerned about the implications Google’s removal of third-party cookies will have on their user acquisition strategy, with 21% being very concerned. 61% of marketers have also reported that they have lost sleep because of the new changes. The report also discusses the iOS IDFA privacy changes already in effect – which allow users to opt out of being tracked. Although the updates have complicated user acquisition strategies, marketers do understand the need for privacy. In fact, 59% agree that user privacy is a top priority for their company in 2022. Concerns about how to acquire new users are still rife, with 61% of marketers agreeing that they’re having to rethink their user acquisition strategy. 63% are actively looking for new ways to target paying users without IDFA, cookies or data privacy issues.

Original link: https://www.marketingtechnews.net/news/2022/may/18/half-of-marketers-have-lost-revenue-due-to-new-ad-regulations/

Half of marketers have lost revenue due to new ad regulations Continuing changes to privacy and ad regulations have been forcing marketers to rethink their user acquisition strategies.

CRYPTOCURRENCY USAGE
According to Insider Intelligence, payments made using cryptocurrencies will surpass $10 billion in total transaction value globally for the first time this year, skyrocketing more than 70% from 2021. The number of US adults who own at least one cryptocurrency will climb 19.0% to 33.7 million by the end of 2022. That equates to 12.8% of the US population, having surpassed 10% last year. The largest ownership group will be adults ages 25 to 34, followed by those ages 35 to 44. Bitcoin, the first cryptocurrency on the market, is the most popular crypto in the US, with 25.2 million owners this year, up 16.7% over last year. Exactly 75% of crypto owners will have Bitcoin in their portfolios this year. But the currency’s share of the market will decline to 70.6% next year as rivals grow in popularity. The second-largest coin, Ethereum, will have 13.1 million owners in the US this year, a gain of 26.8% over last year. Crypto payment transaction value globally will surge 70.5% in 2022 to reach $10.40 billion. By the end of 2023, transaction value will grow another 55.4% to exceed $16 billion. 3.6 million US adults will use cryptocurrency to make a purchase this year, up 68.6% over last year. That means 10.7% of crypto owners will actually use a currency to make a purchase. “Last year was all about networks building crypto payments infrastructure,” says David Morris, principal analyst at Insider Intelligence. “The growth in stablecoin usage is also helping alleviate asset volatility, and CBDC developments are spurring interest in crypto assets as a payment method.”

Original link https://www.emarketer.com/newsroom/index.php/34-million-us-adults-own-cryptocurrency/

B2B MARKETING
According to a B2B Marketing Survey from creative technology studio Appetite Creative Solutions, 79% of UK respondents consider B2B marketing very important for business growth, and 64% are looking to refresh digital marketing plans this year. B2B marketing is considered as an important new business driver (34%), helps deliver sales and e-commerce (22%), and creates strong brand identity (20%). About 60% of respondents are planning to increase digital marketing spend this year. 27% are looking to increase spending up to £10000 and 31% up to £5000. Key media channels considered effective in 2022 include digital out of home (24%), podcasts (24%), print and trade press (12%), and TV and radio (10%). This is a slight year on year shift in approach with print press (28% in 2021) and podcasts (34% in 2021). An uptick in the use of out of home (7% in 2021) is likely due to the relaxation of Covid-19 restrictions. As part of marketing strategy refresh plans for this year, respondents are specifically looking at investing in social media (27%), website (15%), branding (12%) and video (12%). This is a similar mix compared to last year, with a significant year on year drop in video (61% in 2021). “The research shows a continued optimism across the advertising industry, with a slight shift in priority media channels due to an increase in people out and about following the relaxation of Covid-19 restrictions,” said Jenny Stanley, MD at Appetite Creative. “Our research indicated that marketers are starting to trial and invest in new technologies such as AR and the metaverse. Continued innovation is important in the B2B sector to meet business objectives, and ensure campaigns benefit from new opportunities technology offers.”

Original link https://marketingtechnews.net/news/2022/apr/22/b2b-marketing-investment-investment-continues-to-increase-in-2022/

B2B marketing investment investment continues to increase in 2022 79% of marketing executive consider B2B marketing very important to business growth, while 64% are looking to refresh B2B digital marketing plans this year.

TIKTOK AD REVENUE
TikTok’s worldwide ad revenues will triple this year, according to Insider Intelligence’s inaugural forecast on TikTok ad revenue. TikTok’s worldwide ad business grew 175.0% in 2021 to $3.88 billion. Growth will soar to 200.0% this year, propelling revenue to $11.64 billion. That means its ad business will be greater than Twitter’s ($5.58 billion) and Snapchat’s ($4.86 billion) combined. TikTok is also nipping at YouTube’s heels. By 2024, the end of the forecast period, TikTok’s ad revenue will swell to $23.58 billion, essentially equivalent to that of YouTube ($23.65 billion). By then, each company’s share of the worldwide digital ad market will be 3.1%. Despite explosive growth in revenues, TikTok still maintains a small position in the worldwide digital ad market. Its share will grow to 1.9% this year from 0.7% in 2021. For context, Google leads with 29.0%, followed by Meta with 21.4%. 51.2% of TikTok’s ad revenue will come from the US this year. It will generate $5.96 billion, up 184.4% year over year (YoY). That gives the social network a 2.4% share of the US digital ad market. Importantly, the Chinese app will surpass Twitter and Snapchat combined within the US market, as well. TikTok’s UK ad revenue will jump 190.2% to £753.32 million ($1.04 billion), which will make up 8.9% of the company’s global ad revenue by the end of this year. That will give the company a 2.9% share of the UK digital ad market.

Original link: https://www.emarketer.com/newsroom/index.php/tiktok-ad-revenues-to-surpass-twitter-and-snapchat-combined/

CONSUMERS AS INDIVIDUALS
Two years of a global pandemic, economic uncertainty and now macro-level global events have unsurprisingly caused consumer behavior to constantly shift, making it hard for brands to keep up. This is according to a new research from RAPP and Code (part of Omnicom Precision Marketing Group). 24% of consumers plan to spend less across six key sectors: travel, luxury, retail, automotive, technology and financial services. 77% of respondents say brand values are important when choosing a company or brand to shop with. This figure rises in the 16-34 age demographic to 83%. 45% of respondents cite ‘convenience and clarity’ as the number one brand value (up from 37% a year ago) adding credence to the notion that it should be what brands focus on in 2022 and beyond. When it comes to individualization, consumers noted that travel, retail and luxury sectors are not hitting the mark when it comes to delivering individualized marketing communications. When asked which sectors are delivering individualized communications, consumers perceptions of retail plummeted from 33% (a year ago) to 18%; luxury dropped from 10% to 6% and travel fell from 12% to 9%. 59% of consumers say they would spend more money with a brand that treats them as an individual (57% a year ago). And crucially, more than a third (34%) would spend 50% extra with a brand that treats them as an individual.

Original link https://marketingtechnews.net/news/2022/apr/14/faltering-consumer-confidence-sees-expectations-around-spending-plummet/

Faltering consumer confidence sees expectations around spending plummet RAPP Group’s research reveals that despite a downturn in consumer spending, shoppers will spend with brands who treat them as an individual.

AD SPEND IN EASTERN EUROPE
Insider Intelligence expects the ongoing war in Ukraine to have a significant impact on ad spending in Russia, as well as Eastern Europe as a whole. By the end of 2022, Insider Intelligence expects total media ad spending in Russia (digital and non-digital) to drop by 49.7% year-over year to $3.55 billion. This is in stark contrast to October 2021 forecast, which predicted a 7.5% increase in ad spend to $6.89 billion. This forecast assumes Russian GDP will fall 35% quarter over quarter in Q2 and 7% for the full year, according to JP Morgan. Unlike 2015 and 2020 when digital ad spend increased despite a drop in total media ad spend, the company expects digital ad spend to decrease this year. October 2021 forecast expected digital ad spending in Russia to grow 14.0% this year to $4.55 billion. However, the new forecast expects a contraction of 48.2% to $2.23 billion. Russia is dragging down the entire Central and Eastern European region. Previous estimates expected total media spend in the region to grow 7.8% in 2022 to $18.13 billion. Currently it will contract 22.8% to $13.81 billion. The same story goes for digital. Last October, digital ad spending in Central and Eastern Europe predicted to grow 15.2% to $11.85 billion. Now it is expected to decrease by 19.9% to $8.61 billion.

Original link: https://www.emarketer.com/newsroom/index.php/insider-intelligence-slashes-ad-spending-forecast-for-russia-and-eastern-europe-amid-conflict/

PERSONALIZATION IN THE UK
According to a new report from eConsultancy in partnership with Cheetah Digital (https://bit.ly/3MnL0Yq), more than 60% of UK consumers don’t trust social media platforms with their data (the same for 53% of Spanish and 66% of French). 64% of Brits share that they believe cookie tracking is “creepy”. E-mail is the UK consumers’ preferred channel for receiving offers, content, incentives, and rewards from brands. When it comes to driving sales, e-mail beats paid social and display advertising by up to 128% in the UK. This is 20% higher than consumers globally, and 57% and 62% more than France and Spain respectively. The cheapest price point is only one factor of loyalty. UK consumers are loyal to brands that create emotive bonds by fostering community, recognizing their customers as individuals, and delivering bespoke offers and product recommendations that reflect this. 61% of Brits are willing to pay more to purchase from a trusted brand (57% globally). And there’s been an 86% increase in consumers who want suggested products and services based on their preferences in return for their loyalty compared to only a 56% increase globally. There’s been nearly a 60% increase in UK consumers who feel frustrated with a brand whose personalization initiatives don’t recognize their unique desires and needs. Globally, this figure comes in at 52%.

Original link https://marketingtechnews.net/news/2022/apr/04/uk-consumers-demand-hyper-personalisation-new-report-reveals/

UK consumers demand hyper-personalisation, new report reveals People simply don’t know what social media platforms are doing with their data, according to Nick Watson, senior client success lead, Cheetah Digital.

MASTERCARD ACQUIRES DYNAMIC YIELD
Mastercard completed its acquisition of Dynamic Yield, a state-of-the-art personalization platform and decision engine company, from McDonald’s. Dynamic Yield joins Mastercard’s growing Data & Services organization, which has more than 2,000 data scientists, engineers and consultants that serve customers in 70+ countries. Mastercard is routinely recognized as a top company to work for due to its culture of decency, emphasis on wellbeing and flexibility, and commitment to doing well by doing good. Previously purchased by McDonald’s in 2019, Dynamic Yield has integrated its decision technology into McDonald’s drive-thrus and ordering kiosks in several markets around the world. McDonald’s plans to further scale and integrate Dynamic Yield’s capabilities globally and across order channels. The acquisition also strengthens unique and existing synergies across McDonald’s digital engagement experiences powered by Mastercard’s merchant loyalty platform SessionM and Test & Learn software. Ori Bauer, Dynamic Yield CEO, said: “Together with Mastercard, we can put the notion of one-size-fits-all marketing in the rear view for good. Consumers are seeking truly personalized experiences, and brands that don’t adapt risk being left behind.”

Original link https://marketingtechnews.net/news/2022/apr/05/mastercard-acquires-dynamic-yield-to-strengthen-consumer-engagement-services/

Mastercard acquires Dynamic Yield to strengthen consumer engagement services Dynamic Yield joins Mastercard’s growing Data & Services organisation, which has more than 2,000 data scientists, engineers and consultants that serve customers in 70+ countries.

MARKETING SPEND
Annual marketing spend will reach $4.7 trillion by 2025, according to a new report from industry analyst firm Forrester. This growth will be represented by $1.1 trillion from 2021 to 2025 at a compound annual growth rate (CAGR) of 7% — an acceleration above the 5% CAGR from 2015 to 2019. US Companies spend the most on marketing – $1.4 trillion, or 40% of global marketing spend in 2021. They spend a relatively large amount on marketing – 7.7% of revenue versus the global average of 5.6%. Marketing spend growth will see a boost from Chinese companies. They represented only 13% of global marketing spend in 2021, however they will constitute 27% of the growth from 2021 to 2025. Post-pandemic recovery has been swift, but industry performance varies. Healthcare and on-line retail have performed well throughout the pandemic, whilst financial services, property, and travel have lagged the most. IT software and services will be the biggest dollar growth driver. While IT software and services represented 7% of marketing investment in 2021, it will drive 14% of the dollar growth from 2021 to 2025 – by far the most of any industry. It has been a big beneficiary of the digital transformation spurred by the pandemic.

Original link https://marketingtechnews.net/news/2022/apr/07/global-annual-marketing-spend-to-reach-4-7-trillion-by-2025/

Global annual marketing spend to reach $4.7 trillion by 2025 With the pandemic catalysing changes in consumer behaviours, marketing is becoming more important in retaining existing customers and attracting new ones.