Euro Shock" survey: Cornelia Harder

Compared to the last crisis, it is noticeable that some Swiss companies, e.g. the automotive industry and retailers, are reacting much more quickly with price discounts (euro discount, euro bonus, etc.). For better or worse, these price reductions will have to be saved in various cost items. Cutting advertising budgets seems to be the least of the evils. This will inevitably lead to budget corrections at agencies this year. Price reductions are certainly not a recipe for success in the long term. In many sectors, the future demands fundamental strategic considerations about new business models, sales markets, distribution channels and communication channels. However, as a locally based advertising agency with an international network, we have been exposed to a tough competitive environment with great cost pressure not only since the lifting of the minimum euro threshold. For agencies, this means an even greater focus on targeted creativity, local expertise and measurable efficiency.