Global advertising will have a higher-than-expected growth in 2021, a trend that should extend into next year, according to advertising industry forecasts released this Monday (6).
In the industry’s assessment, brands have been relying more on search engines and social media, such as Google and Meta, to reach customers.
Despite a year marked by supply chain disruptions that delayed the arrival of products on shelves, brands continued to advertise online and promote e-commerce while in-store purchases were slow to return due to the pandemic, said Jonathan Barnard, director of global intelligence from the advertising company Zenith.
Advertising agency GroupM predicts global ad spending will grow 22.5% in 2021 over the previous year, while Zenith estimated a 15.6% increase. Both estimates have been revised upwards.
Global advertising spending is expected to grow by about 9% in 2022, according to the reports.
The movement was led by Google, Meta (which owns Facebook, Instagram and WhatsApp) and Amazon, big sellers of digital ads who now account for more than half of all advertising spending outside of China, an increase of close to 40% in 2019, said GroupM.
This form of advertising has grown 47% this year to $77bn (R$267.3bn) and is expected to grow to $143bn (R$813bn) by 2024, according to Zenith.
Retail media networks have been established in China for more than a decade, but growth in other markets has been remarkable, Barnard said.
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