Food companies shying away from spending advertising dollars
The drop has been attributed to food advertisers spending less on television and outdoor advertising.
Budgets have instead been re-directed to digital advertising with spending on this type of advertising has increased by 5.4 per cent over the first quarter.
Not all categories are cutting spending
When comparing the different categories within the food industry; milk, dairy, produce and baked goods all grew their advertising spend by 75 per cent for the quarter.
These categories also increased their social media spend by 168 per cent.
There is however far less confectionery, snack and dessert advertising with their advertising expenditure dropped by 7.9 per cent.
SMI Australia and New Zealand Managing Director, Jane Schulze, said despite the increase in social media advertising spend, even this category experienced a drop in spending during April 2017.
“This month there continues to be huge variation in the levels of Digital spending within the key Food/Produce/Dairy sectors,’’ she said.
“For example, the Confectionery/Snacks/Dessert Items market has so far reduced Digital spending 54 per cent this month while the second largest sub category of Milk/Dairy/Produce/Baked Goods grew Digital spend by 31 per cent, and in the process grew its share of the category’s total Digital spend this month from 14 per cent last April to 25.8 per cent,’’ she stated.
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