UK marketing budgets have fallen for the fourth successive quarter, and by more than at any other time in the past nine years, according to the IPA's latest Bellwether survey, published today.
Just 8% of companies were more optimistic about prospects for their industry than they were three months ago.
Market research continues to be reported as part of the 'all other' category with PR and events sponsorship, making it very hard to estimate the implications for the sector. Along with main media advertising, this category was one of the hardest hit - but other comments and indicators, as well as DRNO's own traffic, figures and client comments, suggest it is holding up relatively well. As in previous quarters, budgets fell in all categories except for the Internet, where annual expenditure held steady.
IPA President Moray MacLennan comments: 'I doubt these gloomy results will come as a surprise to anyone. In light of current headlines the biggest surprise may well be that 12% of companies' budgets were revised upwards. The industry will be watching the next set of results with great interest hoping that, following four quarters of decline, the downward curve levels off, despite the impending recession.'
From this quarter, the survey will be available in two versions, a subscription service and a two-page Bellwether Topline automatically emailed to member CEO and FDs on day of release.
Web site: www.ipa.co.uk .
All articles 2006-18 written and edited by Mel Crowther and/or Nick Thomas.