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Marketing spend: hope for a brighter new year
New research shows a predictable drop in spending as a result of the Covid-19 lockdown, but many advertising and marketing agencies expect a recovery in 2021 — possibly as soon as January
12 November 2020 - 05:00
New data from Scopen Africa and the Independent Agency Search & Selection Company shows that during the first six months of the lockdown, 58% of marketers cut their advertising spend. Just over 30% maintained a stable budget, and a paltry 5.6% increased spending by 20%-30%.
The data confirms brands have cut adspend in response to the pandemic — the overall average reduction was 21.3%, though this is a slightly smaller reduction than expected...
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