Around one third of all ad executives who participated in this survey stated that they plan to decrease the budget that they would dedicate towards email marketing with all things having been considered and taken into account. There seems to be a general trend of reducing promotional budgets, with 25% also stating that they plan to make in store promotions less prevalent than might have been the case otherwise.
In spite of the fact that this is the case, social media seems to be seeing a huge resurgence in popularity. 41% of ad execs are planning an increase in their spending on social media marketing, and with all of that having been said and now out of the way it is important to note that 90% of them think that it is a crucial aspect of their marketing endeavors.
There also appears to be a generally positive attitude about the results that can be obtained this holiday shopping season. 88% of people who are in charge of businesses seem to be confident that they can at least match last year’s shopping numbers, and they also expect some growth in that area. However, 50% stated that their holiday discounts are going to be bigger drivers of sales than they were in previous years which makes sense given the impacts of inflation.
37% of business leaders claimed that inflation was going to be one of the biggest impactors of sales in the coming months. 43% also stated that their supply chains are getting disrupted and they expect this to have an ill effect on their sales and revenue prospects as well in the short term.