Most product categories were able to record a full advertising recovery this year but there are notable exceptions, according to WARC Data’s latest Global Advertising Trends report.
For example, transport & tourism leads growth with an absolute increase of $12.5bn this year but is still almost $2.9bn down on 2019 levels.
Shortfalls of varying degrees were also recorded among a number of CPG sectors this year, including toiletries and cosmetics (down $1.2bn), tobacco (down $378m), food (down $109m) and alcoholic drinks (down $78m).
At the same time, some categories have registered continuous growth in their advertising spend – telecoms & utilities is worth up to $35bn more than before the pandemic.
The research also shows that rapid online investment means the largest sectors are seeing some of the fastest growth next year. Business and industrial is one of these; it includes a substantial amount of classified advertising within real estate and recruitment – two bellwethers of wider economic health.
WARC Data’s latest report provides advertising investment forecasts for 2022 and 2023, additional insights include:
The global ad market saw record growth this year, with advertising investment rising by 23.8% to a total of $771bn.
E-commerce is set to lead advertising growth to 2023, by when it is expected to be worth $137bn.
Post-pandemic changes in consumer behaviour and data privacy will be the most significant challenges for marketers in 2022.