// Retailers are predicted to spend on their advertising spend for the golden quarter

// Businesses are taking their marketing and advertising spending to record levels

Retailers are expected to spend £446 million on their advertising spend for the golden quarter.

Businesses are taking their marketing and advertising spending to record levels, as the cost-of-living crisis forces customers to cut discretionary purchases.

Advertising spend by retailers has been tracking 8% lower than in 2021 in the first half of the year, according to new research by advertising service WARC.

Subscribe to Retail Gazette for free

Sign up here to get the latest news straight into your inbox each morning

Overall advertising spend this year across all retail will be down 2.3% at £1.3 billion, Retail Week reported.

However, with customers looking to cut discretionary spending, retailers are ramping up their spend in the golden quarter by 2.2%.

WARC found Christmas ad spend across all sectors will be at a record high, despite the expectation that the men’s football World Cup taking place in November and December will bring only a “muted lift” to customer spend.

The data found that total ad spend for the final quarter of 2022 is set to increase by 4.5% from last year’s record high to £9.5 billion.