Advertising market in Switzerland unlikely to return to pre-crisis level until 2023
The coronavirus crisis has also hit the advertising market. However, the digital transformation is also helping it to recover, as the Zenith Advertising Expenditure Forecast shows.
According to calculations by the Zenith agency, global spending will fall by 7.5 percent in 2020. In July, however, the forecast was still for a slump of 9.1 percent, according to a recent press release. Thanks to the e-commerce boom, digital advertising expenditure is even expected to grow by 1.4 percent.
Looking at the individual regions, Western Europe is doing rather poorly compared to the rest of the world and will probably not reach the 2019 level of advertising expenditure again until 2023. "We see a similar picture in Switzerland," explains Maria Brinkmann, Managing Director of Zenith Switzerland. In 2020, the advertising market in this country will lose around 9.7%, after which things will pick up again in rather small steps.
E-commerce and therefore advertising or search ads on retail platforms will probably retain their importance, even if things return to normal. In China, for example, this is already a relatively well-established advertising channel, while there is still great potential for growth elsewhere. (SDA/swi)
