Supermarkets to lift ad budgets
Supermarkets are likely to buoy the advertising industry in the year ahead, according to a new industry report released yesterday.
Advertising from supermarkets in Australia is expected to soar a further 13.8% in the 2009/10 financial year to $774 million amid a stagnant advertising market, according to IBISWorld.
”The relatively recession-proof grocery and supermarket sector are buoying the advertising industry somewhat, as people eating out less translates into more entertaining and eating at home,” the report advised.
Australian supermarkets have been prominent in the advertising domain over the past year, increasing expenditure by just under 15 per cent. And IBISWorld expects that to continue as the likes of Aldi, Coles, Woolworths, Franklins, Foodworks and IGA all outline plans for store growth.
IBISWorld anticipates the back to basics approach will remain the hallmark of supermarket promotions in the short-term.