Pint half full or half empty? | Tim Clyde | Bellwether Report Q4 2023 Comments

by | Feb 28, 2024 | News | 0 comments

Our Co-founder, Tim Clyde comments on the 2023 Q4 IPA Bellwether Report…
We don’t need the Bellwether report to tell us that we aren’t out of the woods quite yet. With my pint glass half empty, we are still in the midst of a UK cost of living crisis, US inflation continues to accelerate, EU retail sales are in stagnation, China is challenged by deflation and falling exports and let’s not forget two international wars. Historically a backdrop like this would spell uncertainty and inevitable budget cuts whilst nervous brands weather the storm. But despite all this, thank you Bellwether for indicating that my pint glass might not be so empty.
Q4 saw the highest marketing budgets in almost a decade. And whilst recession is predicted in the first half of 2024, business and consumers seem to be familiar with the bumpy road with marketing budgets generally looking robust for the next year and consumer confidence on the rise. Particularly exciting news for the event sector which had such a hard time through covid with predicted growth of 15.%. Brand building investment seems to continue to take a back seat to direct marketing which is disappointing given the evidence supporting the success of brand investment during harder times. But overall, my half pint looks pretty full.

You can read the full article here.