Just months after the first case was reported, it is already clear that COVID-19 is having a negative impact on ad spending in China. In fact, we have lowered our outlook for China ad spending for 2020 and beyond.
The pandemic has had a profound impact on Latin America’s retail industry. Mandated stay-at-home orders in several countries forced retailers to close physical stores, wreaking havoc on many companies’ bottom lines.
This is especially true now, as the pandemic has proven that a strong brand is a powerful asset for a company looking to build trust and consistency. Moreover, 94% of marketing professionals worldwide said the pandemic would have at least some impact on their company’s brand strategy, according to April 2020 Bynder research.