This article was first published on Ubex - Medium
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In 2019, the 200 largest US companies spent $175 billion on marketing and advertising. This is a record amount, as noted by AdAge, citing data from its Leading National Advertisers ranking.
Compared to 2018, expenses increased by 4.6%. In early 2020, when the COVID-19 pandemic started, many marketers lowered their spending, as the publication notes.
Internet companies have become the driver of ad spending growth. 21 organizations, including Amazon and Uber, have contributed strongly to the overall increase in ad spend, as the list’s compilers note. For these companies, ad spending has increased by 16.9%, and by 3% for the rest.
The financial platform LendingTree significantly increased advertising spending by 46%. They are trailed in the ranking by the Facebook social network (up 41%), online furniture and home goods retailer Wayfair (up 40%), the Grubhub service for ordering and delivery of food (39%), and the Amazon marketplace (37%).
Advertising costs have increased for insurance companies, as the authors note. At the same time, a decline has been noticed in the automotive and care and hygiene industries.
According to GroupM forecasts, in 2021 expenses will increase by 4.2% compared to the current year. However, the authors of the AdAge rating believe that several years will pass before a new record is set.
Telecommunications corporation Comcast became the largest US advertiser last year according to AdAge. Now Amazon has taken first place. The online retailer spent $6.9 billion on advertising and promotion in 2019.
Ubex is closely following the market and considers the e-commerce category as one of the most promising for Ubex in its development on the global market. Stay tuned for more news and updates from Ubex.
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