Advertising in Malls
The impact of COVID-19 on the Advertising Industry In a recent eMarketer interview of Eric Haggstrom, a forecasting specialist with the company, he provided an interesting insight into how the coronavirus pandemic is affecting eMarketer’s search ad spending forecasts for companies in the US. Hospitality, travel, and retail industries are expected to pull back the most on ad spending until the virus is contained. For the retail industry, the effect is also rooted in supply chain disruptions. Cutting down on ad spends is one major way companies have mitigated the economic impact of COVID-19. Eric Haggstrom forecasts a mere 3% growth rate in the first half of Q1 2020, for the search ad sector which is a significant depreciation compared to last year’s forecasts or that of January 2020. As of late March, Market Influencer reported a 65% decrease in ad spends by the travel sector. All forms of advert placement including radio and TV have had fair shares of the declining campaigns. Perha