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German Advertisers feel impact of global financial crisis
Date: 31/10/2008
WFA's German Advertiser Association, the Organisation Werbungtreibende im Markenverband (OWM), has released the results of a survey among the biggest German advertisers that demonstrate the impact of the global financial crisis on consumer spending and advertising expenditure in 2009.
Highlights from the survey show that:
- While 22% of respondents expect that consumer spending in 2009 will be on a similar level to that in 2008, 78% expect consumer spending to drop.
- 35% of respondents believe that German ad budgets will be less in 2009 compared with 2008. In last year's survey, only 6% felt that this would be the case.
- 43% of respondents believe budgets will remain constant in 2009. 22% expect that budgets will increase in 2009, down from 42% in last year's survey.
- The internet is likely to be a big winner in relative terms in 2009, with 81% of respondents saying that spend in this medium will increase in 2009. In absolute terms, online spend in Germany remains low at 2.9% in 2007, compared with a European average of 7.9%.
Germany is the fifth largest ad market in the world, and is also the third largest economy by GDP.
The OWM survey comes at a time of increasing concern about the implications of the financial crises for the global economy and speculation about the impact on advertising expenditure in particular. The survey is based on about 100 responses from OWM members, the biggest ad spenders in the German market.
The full Press Release can be viewed below (in German). For more information, please contact Malte Lohan [email protected]
Documents:
Pressemitteilung Werbungtreibende spüren Krise.pdf
