Survey: Retailers Cut Holiday Advertising, Marketing Budgets
Chicago Nearly one-third (32%) of chief marketing officers at leading U.S. retailers said that their holiday marketing and advertising budgets have been reduced this season, according to a new study conducted by BDO Seidman, LLP.
The survey said that nearly half (43%) of retailers said their budget will remain flat and only a quarter (25%) cite an increase in advertising and marketing spending this holiday season.
Most of the retailers (57%) will spend the majority of their advertising and marketing budget on print advertising, while 21% will focus on broadcast outlets and 19% will focus spending on Internet advertising, including social-networking sites.
Indicative of an increased interest in going green, about 43% of retailers will be increasing their advertising and marketing focus on green products this holiday season, up from 37% in 2007.