)
“You can’t spend your way out of this one”: Sir Martin Sorrell on the ‘shape’ of the COVID-19 recession
V or W? Or Bathtub?
We all know we’re in a deep advertising recession – last week’s AA/WARC Expenditure Report figures confirmed it. The question now is what shape it will be – in other words, how long will it last, and how quick will the rebound be?
That’s the question that WARC posed to Sir Martin Sorrell, Executive Chairman of S4 Capital, in a recent video interview – part of their content series on marketing in the COVID-19 recession.
His prediction: a “reverse square root”. So that’s a sharp downturn, then a rapid partial rebound before a plateau at a lower level than previously. But the picture varies by sector – while travel is hard hit, cash-rich tech companies are taking the opportunity to invest in brand. FMCG companies are holding up better than many, and moving money online, while healthcare is (unsurprisingly) relatively unaffected.
Sorrell has also been vocal in his criticism of those advising brands to spend their way through this recession...
Read more and watch the video at our media partner WARC's website, through this link.
News for You
-
Get to know Fiona Gordon, Ogilvy's CEO
23 Sep 2021 eCommerce Expo MarketingHaving made your way up to CEO at Ogilvy, you’ve worked across several retail clients. Can you explain the importance cross channel commerce is in creating an effective brand experience? - Read more t ... -
“2020 will be remembered as the year people digitally transformed.” In an interview with Richard Robinson
19 Aug 2021Ahead of the Ecommerce Expo & Technology for Marketing September events, we caught up with Richard Robinson. Richard is Managing Director of Xeim Engage, incorporating Econsultancy & Oystercatchers an ... -
Are you ready for eCommerce Expo and Technology for Marketing?
22 Jul 2021 Harriet Fawcett, CloserStill MediaAfter a huge success in 2020 and March 2021, eCommerce Expo and Technology for Marketing are back again, this time taking place virtually on 28th – 30th September 2021. Brought to you by CloserStill M ...