Expect to see more advertisements for “everyday treats” in fashion and food next year and fewer campaigns involving expensive goods and services such as travel.
“You’ll see more advertising in those sectors that are what I term ‘affordable rewards’ – food, fashion, beauty,” Mr Titshall said. “Small indulgences that people have. There will likely be fewer ads about anything to do with travel, whether that’s airlines, rental cars, hotels, those types of things.”eighth consecutive rate rise lastMr Titshall said the total level of advertising would continue to grow next year, but at a lower rate than this year’s growth.
GroupM, another large media buyer, forecast the advertising market would grow 3.4 per cent in Australia next year. It leapt 10.9 per cent this year as it continued a recovery from COVID-19 lows in early 2020, when brands slashed advertising spending.GroupM’s chief investment officer, Seb Rennie, said: “We think [2022] is going to finish in a fairly positive way. In 2023, we still think there’ll be growth, low single-digit growth, but we do think there’s some fragility to that forecast.
“Next year should hold quite steady. There will be some volatility within the market in certain media channels and there is likely to be a decline of one or two [percentage] points in 2023.”The co-chief executive at OMD Australia, Sian Whitnall, said tough economic times could lead to marketers spending more on advertising to offset lower demand.
“We don’t know how bad it’s going to get. It’s not doom and gloom yet. When home loans move to variable, it might be a different story. We’re watching,” he said.Compared to the pre-COVID 2019 financial year, the auto sector was down 33 per cent and travel was down 34 per cent in FY22, figures from Standard Media Index , which measures agency media buying, found.
Mmm pushing shit food. McDiabetes