Coop on an austerity course
Advertising: To improve the efficiency of its advertising, the major retailer Coop is reviewing its advertising budget, press spokesman Karl Weisskopf told the NZZ am Sonntag. Cost-cutting measures are planned—but the exact amount and where the cuts will be made have not yet been decided.
Advertising In order to increase the efficiency of its advertising, wholesaler Coop is reviewing its advertising budget, press spokesman Karl Weisskopf admitted to the NZZ am Sonntag. Savings are planned - but it has not yet been decided how much and where, and industry insiders are assuming cuts in the double-digit millions. The background to the budget correction is a drop in sales of 3 to 4 percent in the first half of the year. Coop is not giving any official figures. According to the market researcher Media Focus, Coop was the second largest advertising client in Switzerland last year with around 240 million francs. The number one, Migros, has also reviewed its expenditure for efficiency in the current year. However, the budget has not been cut, according to press spokesman Urs Peter Naef. Only certain advertisements have been shifted from the daily newspapers to the Migros magazine.
