IPA Bellwether report 2023 Q1 – light at the end of the tunnel?
Signs of hope from the latest IPA report after periods of pretty bleak outlooks. Whilst most of the UK PLC is recognising the cost of living pressure it seems to be meeting this head on with media marketing growth (see chart) and in particular sales promotion to boost sales demand.
The Chart shows revisions to total marketing budgets
This is all great news given that it’s the first positive response since 2021 and optimism can breed more positive sentiment however this is all tempered a little by the sentiment around the wider financial situation which while better is still negative.
We have seen ourselves a recent uptick in client testing and outlook but the wider economic view will probably remain at a lower level until the inflation rate is brought back into line. It’s looking better though and we are heading into summer too!