March 18, 2019
According to an IPA Bellwether quarterly report, “uncertain political and economic” conditions related to Brexit caused UK marketing budget growth to stall (). During 2018, budgets growth decreased quarter by quarter. And the company found that growth stopped the first time since 2012 in Q4 2018. About 60% of surveyed marketers planned to maintain their budget, and although 16% of respondents planned to increase spend...s, another 16% said they would cut their marketing budgets. The IPA Bellwether forecast on 2019/2020 is rather neutral: nearly 1% growth. But a report from Enders Analysis predicted that the UK ad industry would plunge into its first recession in a decade, with spend likely to decline by 3% or £1.4 billion. Some experts said that possible economic problems would cause restrictions in financial resources available for marketing purposes. But those companies which get over a turbulent period with tactics of increased marketing budget would grow their share of market and win the race. Other experts emphasized that during bad times companies would need to experiment and innovate, because “the winners do things differently”.