Online adspend soars
Advertising spend on e-commerce platforms is set to rise sharply this year despite the global recession — reaching a total of $58.5bn
Advertising spend on e-commerce platforms is set to rise sharply this year despite the global recession — reaching a total of $58.5bn — as brands look to capitalise on the boom in online shopping sparked by the Covid-19 pandemic.WARC, the international marketing intelligence service, says the surge in e-commerce advertising mirrors a rapid increase in online purchasing; consumers will spend an additional $183bn online this year as a direct result of Covid-19, with total e-commerce sales set to rise 30.4% to $2.9-trillion worldwide. Brands, says WARC, are flocking to leverage targeted advertising across e-commerce platforms as a means of getting closer to the consumer at the point of purchase.
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