Throughout the 2018 financial year (July 2017-June 2018), 50% of total Australian advertising spend was made up by the top five industries. The travel sector, ranked third, recorded the biggest boost in ad spending - up 21% on the previous financial year.
The biggest challenge facing the financial industry is having a brand promise that matches the customer’s experience. With over 3.1 million Australians expressing dissatisfaction with their major financial institution over the past 12 months it is critical for Australian financial institutions to examine how to address their disengaged and dissatisfied customers.
From a global perspective, prospects for the remainder of the year appear largely positive. In Q1, confidence grew across Western Europe, the economic recovery in Latin America looks promising in a number of markets, dollar sales of FMCG in North America performed well, and growing disposable incomes across Asia-Pacific are having an effect well beyond the immediate region.
2017 was a good year for global consumers, with consumer confidence ending the year at a near-record level. Notably, 51 markets finished the year with higher confidence than they did in 2016, and the gains were bigger than 2 points in 46 markets.
Competition to light up Kiwi homes is high, with new energy companies bringing their offerings to the table. Across New Zealand there are more than 30, together spending over $33 million dollars on advertising in 2017.