// 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.
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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.
