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This week, we consider the latest global ad spend reports and look at retail spending and attitudes in the US, UK and APAC.
Global ad spend set to rise over 12% this year
The latest Global Advertising Trends report from Warc predicts that global ad spend will rise by 12.6% this year to reach $665bn.
According to the report, global ad spend for Q1 2021 grew 12.5% and 23.6% in Q2 to $157.6bn. That‘s the strongest Q2 rise in over 10 years and is driven mostly by online formats, the report said. Global ad spend in H1 2021 was 17.8% higher than H1 2020, reaching $311.5bn. The report predicts 8.2% growth in 2022.
Dentsu predicts 10% rise in ad investment
Slightly different – though similarly optimistic figures – on global ad spend come from Japanese communication group Dentsu, which forecasts ad investment to rise 10.4% globally in 2021. Ad spend in APAC alone is expected to grow by 8% to $229bn, with China, India and Australia key markets for growth. The Drum‘s Amit Bapna discusses the report in detail here.
Third of US shoppers won’t buy online without delivery tracking
That’s according to 4over, which surveyed 2,000 consumers in the US. It found that 29% said they would not order an item online if they couldn‘t track the delivery. 96% of consumers track deliveries after ordering online, with 43% tracking deliveries daily after ordering.
87% of consumers have had a package arrive late and 73% feel ‘a sense of anxiety‘ when there’s a delay. 45% feel that two to three days is an acceptable amount of time to wait for shipping, while 24% prefer next-day when available. And the states with the most delays? Vermont, Delaware, Rhode Island, Alaska and New Hampshire.
One in four APAC consumers are set to switch banks
So says Qualtrics, which just surveyed 3,733 consumers in Hong Kong, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.
Two thirds of respondents said they were happy with their banking provider or health/life insurer, but 22% were still getting prepped to switch. And 48% of respondents were ‘very interested‘ in using digital banks or finance brands, suggesting more consumers are open to non-traditional providers than before.
Despite that, many said they still wanted face time with their banking brand. When purchasing an insurance policy, 32% of respondents said they would like a mix of digital and face-to-face interaction, 26% wanted more digital interaction with a financial advisor and 23% want more face-to-face interaction. In contrast, only 19% wanted less contact with staff.
Summer sun pushes Brit spending up 11%
Barclaycard reports that spending on plastic jumped 11.1% compared with the same month in 2019. Warm weather, a gentle relaxation of lockdown restrictions and the return of sporting events all conspired to tempt Britons out of their houses and into pubs, gardens and traditional holiday resorts, and according to the banking brand leisure spending jumped 38.1% in June. More details in our report here.
High street gains ground on digital retail
According to the latest IMRG Capgemini Online Retail Index, British online retail sales fell 14.1% year-on-year in June as high streets and physical shops welcomed more shoppers indoors. It’s the biggest drop for digital spend in the history of the index. The report also found – unsurprisingly – that booze sales were up 52% in the week that England prepared to play Germany for a place in the Euro 2020 semi-finals.
Chris Long, director of retail consulting at Capgemini, said: “The steep fall in June of 14.1% is a strong indication that consumer confidence is growing to get back out on the high street as lockdown eases and the vaccine rollout continues. We can expect this shift in spend between online and the high street to continue, with retailers grappling demand swings and stock challenges across channels to ensure availability for consumers as their shopping habits change.“
71% of Spotify Free listeners are under 35
Spotify‘s latest Culture Next report reveals that 71% of users signed up to the ad-supported version of the music streaming platform are under the age of 35, while the median age of podcast listeners is 27.
Based on four Zoom focus groups, 40 interviews and a dozen ethnographies, the resulting report drew on the responses of over 50 respondents from around the globe and was augmented by a survey of 9,000 respondents conducted by Lucid in April. Tune in to the finer details here.
Twitch viewership rose over a third in spring
Compared to the first few months of 2020, Twitch viewership was much higher this year, according to Safe Betting Sites. That suggests media habits formed during the course of 2020’s lockdown boredom have stuck.
The total number of hours watched on the streaming platform from March 2021 to June 2021 amounted to 8.69bn. This figure is a 35.84% increase from the same period in 2020.