The ad industry has reacted to the release of the latest Advertising Association/WARC Expenditure Report, which revealed that the UK ad market grew by 34.3% year-on-year.
Gill Huber, Managing Partner of Oystercatchers, says:
While we are seeing positive advertising growth and pandemic related risks receding, there are ongoing tough market drivers which mean consumers will continue to err on the side of caution with their spending. She said: “The UK ad industry is well placed to cope with tough market factors – with adversity being a great driver of creative opportunities. Brands will have the tough job of continuing to adapt to changing behaviour and will need to approach a variety of consumers – from those who want to spend post-lockdown, to others who are tightening their belts because of cost-of-living constraints – with sensitive communications.
As we move out of the short-term reactivity created by the pandemic, strong client:agency partnerships will be essential to help navigate changing consumer needs as well as identifying the best way to reallocate budgets to build brands and ensure those brands are showing up on the right media.