Consumer spending takes a hit
Consumer spending shrank by 2% in October, the fastest year-on-year decline in four years and the fifth monthly decline in six months.
Clothing and footwear sales fell by 9%, food and drink was down 2%, while recreation and culture declined 2.9%.
The marketing skills gap
Multinational brands are increasingly concerned they won’t be able to recruit the experts they need in years to come.
Artificial intelligence was the main area of concern, cited by 73% of respondents, followed by programmatic on 62% and the internet of things on 52%.
“A changing marketing landscape is creating new challenges for the large multinationals in WFA membership and they need additional skills relating to newer disciplines such as data analytics. Whether that talent is sourced internally or externally, clear marketing capabilities programmes are a vital part of managing resource and demonstrate how central teams are investing in their people,” Rob Dreblow, head of marketing services, WFA
British advertising’s biggest ever Christmas
This Christmas is expected to see the largest ever seasonal ad spend, with advertisers investing close to £6bn in the final quarter of 2017.
That means spend at Christmas has increased 37% since 2017 as brands compete to be top of mind.
Two-thirds of those who work in the marketing industry have had a job that has made them miserable, with almost three out of five admitting they’re unhappy in their current role.
That puts marketing at the top of a list of industries most affected by low job satisfaction, with 51% saying they find the work unfulfilling and 49% that they feel let down by the lack of opportunities.
1. Marketing – 57.1%
2. Legal – 54.5%
3. Hospitality – 53.3%
4. Accounting – 50%
5. IT – 50%
Marketers lack understanding about ePrivacy law reform
Three in 10 marketers have no awareness of upcoming ePrivacy Regulation reforms.
For those that are aware, the biggest concerns are having to provide an opt-in for B2B marketing (31%), consent requirement for cookies (26%) and an opt-in for tele-marketing (25%).