Ben Willee, Executive Director – Media and Data at Spinach, said the headline numbers are sobering.
“January feels like a market that has checked its bank balance and decided to sit very still,” he said.
“With spend down and confidence fragile, brands are retreating into caution just when share of voice is getting cheaper.
“We are living through the most tumultuous period advertising has ever faced. Platforms are multiplying, metrics are arguing with each other and every second headline predicts either the end of creativity or the end of civilisation.
“It is hardly surprising that many marketers feel like they are trying to assemble flat pack furniture without the instructions.
“The good news is that while the environment changes quickly, human behaviour does not. People still buy from brands they remember and trust. Consumer confidence will recover, and when it does, advertiser confidence will follow close behind.
“In the meantime, this is a market rich with opportunity. Media is more negotiable, attention is still available, and competitive noise is softer than it looks. For smart and courageous advertisers, this is less a crisis and more opportunity than ever.”
