Deliveroo had planned to increase marketing spend over 2022, but as customer acquisition and retention weakens, the business has decided not to pursue top-line growth.
As the UK teeters on the precipice of another recession, consumer shopping behaviour is shaping up to be similar to that seen during the 2008 financial crash.
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TikTok has become a key driver, not just of reach and awareness, but also conversions and sales, which is seeing it take a core role within brands’ ecommerce strategies.
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The cost of living crisis is weighing heavy on consumers’ minds, with confidence “languishing” at a historic low of -41.
Brands’ financial prospects for the year ahead have deteriorated sharply, falling to levels not seen since the height of the pandemic in 2020 and contributing to a cut in annual ad spend forecasts.
New product launches and strong international growth have helped Premier Foods increase market share both in-store and online.
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Wetherspoon says it has increased marketing spend “substantially” as it looks to entice people back to its pubs post-pandemic.
There are endless examples of brands that have switched to new business models through circumstance or necessity. The key is to do it on your own terms.
L’Oréal’s chief digital and marketing officer explains how the house of brands is mitigating inflation and investing in Web3 amid a post-pandemic “return of colour”.
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The answer to that question is “probably yes”, according to the latest GfK consumer confidence index, which slips further into negative territory.
The retailer has also reported “sustained improvement” in its overall brand health as a result of its actions during the pandemic, leading to market share growth.