The three key markets will account for almost 80% of the increase in luxury goods ad spend between now and 2018, according to media buyer and ad market forecaster ZentihOptimedia.
It says there will be a 2.9% increase in luxury ad spending this year, after a 0.5% decline last year. There will be3.9% growth next year.
The main categories in the luxury sector are cars, beauty, fashion, watches and jewellery. Most of the new spend will be directed towards internet campaigns and in 2018 it will overtake print as the largest medium for luxury ads.
Between now and 2018, TV’s share of the luxury market will fall from 31.3% to 29.7%.
“Luxury advertisers are having to respond to consumers’ changing expectations,” said Vittorio Bonori, Zenith’s global brand president. “Consumers are now looking for luxury experiences that are personal and relevant to them, and targeted brand communication is central to creating this extra brand value.”
Zenith monitors luxury ad spend in 23 markets around the world.
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21st October 2019