Retailers' holiday marketing budgets take a hit

Share this content:

Advertising and marketing budgets at the nation's leading retailers are taking a hit this holiday season, according to a new survey from BDO Seidman LLP that was conducted after the financial market meltdown.

In the survey, 32% of chief marketing officers at leading US retailers said that their holiday marketing and advertising budgets have been reduced this year. The budget is remaining flat for 43% of retailers and increasing for 25% of retailers.

Print advertising will account for the majority of the advertising and marketing budget at 57% of retailers, while 21% will focus on broadcast outlets, and 19% will focus their spend on Internet advertising, including social networking sites.

Even in the face of the economic downturn, there is still an interest in going green, with 43% of retailers saying they will be increasing their advertising and marketing focus on green products this year, up from 37% in 2007.

“This holiday season, we can expect that advertising buys will be very targeted, and in some cases more conservative,” said Catherine Fox-Simpson, a partner in the retail and consumer product practice of BDO Seidman, in a statement. ”Historically, in tough times, campaigns become less flashy, more sentimental and heavily focused on value-added items, such as sustainable products.”

The survey of 100 chief marketing officers at leading retailers located throughout the country was conducted in October.

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above