- 'Big bang' for retail media
- Merchandise sales are surging
It is a truth universally acknowledged that advertising budgets are the first thing to be cut in a recession. It explains why investors are so nervous about media stocks such as ITV (ITV) and Future (FUTR), and why many tech giants are under pressure. Snap (US:SNAP) has warned that revenue could fall by as much as 10 per cent in the first quarter of 2023, while advertising sales at Alphabet’s (US:GOOGL) Google dipped by 4 per cent in the final quarter of last year. YouTube’s performance was particularly disappointing
Yet received wisdom does not always withstand closer scrutiny, and amid the economic gloom demand for certain types of advertising is still strong – as long as you know where to look.