MediaRadar’s Recession Ready Weekly Advertising Overview: Apparel and Food advertisers loosen their ad budget belts
In the week of January 23, 2023, MediaRadar reported that Food advertisers dramatically increased spending—especially food subscription boxes and candy brands ahead of Valentine’s Day—while Apparel advertisers saw a modest rise led by accessories and athletic footwear, Pharmaceutical advertising declined overall with prescription ads dropping but large pharma and OTC meds increasing, and Education and Training companies cut their ad budgets by 20% week-over-week.
Week of February 6, 2023
This week MediaRadar reviewed advertising from the week of January 23, 2023, and compared it to ads that ran the week of January 16, 2023.
This article discusses four categories, but we also share weekly, monthly, and quarterly ad shifts in investment among all segments.
Here are some key weekly takeaways from advertising shifts that took place:
Food advertisers increased ad spend this week. It was up over 100% week-over-week (WoW). Food subscription boxes (Butcher Box, HelloFresh, Hungryroot, etc.) invested over $5 million, up 1000%+ WoW. Snacks & Desserts were up 115% WoW from last week. As Valentine’s Day gets closer, Candy brands increased ad spend by over 1000% WoW.
Ad spend from Apparel advertisers increased less than 5% WoW to $45 million+ invested. This is the first week since November 28th that there’s been a week-over-week increase in this category. Accessories (jewelry, watches, etc.) advertising investment increased 30%+ WoW, representing an estimated $12 million in advertising. Apparel brands invested over $10 million in advertising this week, an over 15% WoW increase. Ad spend for apparel brands came from a mix of designer fashion (23%) and sportswear (77%). Athletic footwear was also up over 15% WoW to $1 million+ in ad investment.
Pharmaceutical advertising decreased 25% WoW to less than $125 million in ad spend during the week of January 23rd. Large Pharma companies increased ad investment 27% WoW to just under $100 million. They advertised over-the-counter (OTC) meds, prescriptions, and biopharmaceutical advertising. Interestingly, prescription advertising decreased 34% WoW to less than $75 million. OTC meds helped to offset the decline with a 17% WoW increase to nearly $15 million. Dietary supplements were also down 23% WoW from the $20 million+ invested the week of January 16th.
Education and Training companies reduced ad investment this week by 20% WoW ($20 million). Colleges and universities increased ad spend by nearly 20% WoW. Real estate education and primary & secondary education’s advertising investments were both down over 40% WoW. Online Education Companies remained flat week-over-week with around $4 million in ad spend.
For a full breakdown of which product categories are buying ads now, the list is updated weekly and you can subscribe to receive it in your inbox.
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