The coronavirus pandemic had direct effects on the day-to-day life of citizens and on the strategy of brands. The confinement measures put in place by many countries, including Spain, to halt the spread of the disease led consumers to stay at home, many companies had to stop their activity and many companies had to make cutbacks decisions in expenses.Advertising and marketing were among the elements that suffered the most, as brands and companies quickly cut back on investment in these areas. Although 2020 was a year in which global ad spend was expected to grow prior to all of this, driven by the Tokyo Olympics and the US elections in November, the forecasts are now very different. The media have closed the start of the year with falls in their income and many companies have suspended, paused or cut their advertising investment.But which sectors and which areas were the most impacted by the cuts in advertising investment?
From the outset, it is to be Liberia Email List expected that those sectors in which the cut in activity was clearer have been the ones who cut the most advertising investment. The tourism industry is one of those that has been hit hardest by this crisis, not only immediately but also in the medium term. After all, this summer nobody is very clear about what is going to happen and how therefore consumers will travel.At the beginning of the crisis in Spain, in fact, travel and tourism transport was one of the sectors most affected by the advertising break. It fell 78%. Data from a British study that has analyzed patterns during these months also points in that direction.The categories in which advertising investment fell the most were travel (48%), entertainment (17%) and telecommunications (15%).
The ones that increased the most during the period in the annual comparison, on the contrary, were food advertising (18%) and government (22%).The benchTravel advertising is not the only one that has fallen. The cuts can also be seen in other sectors. Another British study has just concluded that the banking industry’s paid ad impressions fell by 68.57% during the first 22 weeks of 2020. The measurement is relative to what happened during the same period last year and it has a logical origin. Advertisers turned off the tap because of the coronavirus. Why did the banking sector, which seems a somewhat innocuous sector in the crisis, stop advertising? According to the analysts behind the study (of a global scope) they point out that it was possibly marked by the fact that their clients feared the loss of income and many were beginning to worry about not being able to pay loans and mortgages.
Basically, it was no longer a good time to remember that they existed.Fewer events and fewer new appsAnd, in a transversal way, a European study by Sort list on what companies have been investing their budgets in has indicated that investment has fallen in event marketing, mobile app creation and online advertising. There the fall has been 30%.Faced with this, the demand for web applications, ecommerce sites, SEO and digital strategy has grown during the period. Possibly, as they explain in their conclusions, this is marked by the fact that they are the most necessary services to respond to consumer demands during confinement.