Consumer electronics industry sees a 8.3% increase in digital ad spend from 2019
Authors: OPTS IM Planning Team
While other industries have seen a significant decrease in digital ad spend due to lack of demand in the pandemic, the consumer electronics industry has remained resliant on the digital ad spending front, with relatively strong growth forecasts for the year.
eMarketer reports that computing products and consumer electronics have been in high demand as UK consumers bunker down and spend extended periods of time on remote work and indoor leisure activities. As a result, this industry will see digital ad spending grow by 14.3% this year, up from 13.2% in 2019.
All this will produce a slight rebalancing of the world order as it pertains to digital ad spend. Retail will continue to lead the pack and account for a fifth of total digital ad spend in 2020. Computing products and consumer electronics will see a significant bump in spend, elevating its share to 10.6% and positioning it in the middle of the pack.
As a result, Samsung should continue to capitlise the changing habits of consumers in the ongoing pandemic, and pivot to digital in as many campaigns as possible. As competitiors continue to do the same, Samsung must rise above and disrupt the noise of the increasingly saturated digital ad space.
Link to the full article here.