Why Brexit will create “Adxit” in the advertising industry
Advertising is largely about confidence. Despite the proven relationship between advertising and sales, advertisers typically cut marketing budgets when the economic climate takes a turn for the worst. That’s because advertising spend has always been closely tethered to consumer confidence.
The logic goes something like this: When consumers are confident about the economy they spend more money. And when consumers are out spending more money, brands that advertise tend to capture more of that spending opportunity.