While the initial lockdowns in March led to a steep decline, the worst declines were seen in Q2––with spend dropping 32% YoY
While the initial lockdowns in March led to a steep decline that dragged Q1 down, the worst declines were seen in Q2, with spend dropping 32.0% YoY during the quarter. However, there was some slight recovery from April to June, which saw declines of 34.1% and 30.2%, respectively, and we expect that to continue. We US total media ad spend in 2020 overall will drop by only 6.8%, meaning a rebound is projected for H2.
Household and cleaning supplies were the biggest bright spot, with ad spending in the category rising by 12.3% in H1. As work-from-home orders went into effect, people began stocking up on household goods and cleaning supplies like hand sanitizers and disinfectants. According to Kantar, that led to a burst in advertising .
Consumer packaged goods giant Procter & Gamble was the top advertiser in H1, increasing spend by 9.2%, while second-place Amazon increased spend by 14.8%. Growth in the household supplies category helped buoy the advertising industry from steep declines elsewhere, particularly in travel, which saw outlays decline by more than 50% YoY.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside the secret club that helps determine which healthcare startups blow up - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
U.S. Vinyl Album Sales Hit Biggest Week in 2020 After First Record Store Day DropThanks to Record Store Day 2020&39;s first drop on Aug. 29, U.S. vinyl album sales surged to a new weekly high in 2020.
Read more »
Business Insider's top advertising and media stories for September 10 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Tesla shares suffer their worst day everTesla, one of the best performing US stocks this year, just suffered its worst trading day since it went public 10 years ago. Shares of Tesla lost 21% of their value Tuesday after Standard & Poor's declined to add it to its index of 500 major US stocks.
Read more »
Niecy Nash Takes You Inside Her Surprise Wedding With New VideoA beacon of light in the dark year that has been 2020.
Read more »