Economic Downturn Impact

Goals

Determine the economic downturn impact on advertising and people's decision to change their investment services advisors. Determine also the time frame during economic downturns when frustrations are the highest. Obtain also the sentiments of financial advisors during these times. The economic downturn can be due to the coronavirus or other global events.

Early Findings

Economic Downturn Impact

  • Based on a global media forecast, the advertising industry is expected to experience a slowdown in the advertising sector as the world experiences an economy downturn.
  • Analysts predict that the growth rate of the global advertising market will further go down to 3.9% in 2020 and 3.1% in 2021. This is lower than the 5.7% rate in 2018.
  • However, diigital advertising is expected to save the industry as this segment is expecting an 11% growth. This segment will also make up 52% of the total advertising globally in 2020.
  • In the event of the economic upheaval caused by the coronovirus, the advertising production space is expected to suffer a major setback as this segment is dependent on strict deadlines, tight budgets, and seamless traveling.
  • However, the TV advertising market is seen to stay stable as stay-at-home consumers are more likely to watch TV shows.

Summary of Findings:

Our one hour of research provided some of the impact of the economic downturn on the advertising sector.

Proposed next steps:

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