Hong Kong’s advert spend final yr was just like the earlier yr, with a complete spending of HK$28.1bn. Amongst numerous industries, the advert spend of well being and sweetness meals trade recorded a powerful YOY progress final yr, in response to admanGo.
Though native advert spend recorded a 5.3% decline in Q1 and remained flat in Q2 final yr, there was an upward development in Q3 and This fall because the epidemic regularly eased, the report revealed.
The relief of social distance in final April, new consumption voucher in final April and final August, along with the comfort of abroad entry quarantine preparations in final July, all contributed to the expansion of native advert spend with a YOY improve of two.9% and a pair of.2% in Q3 and This fall respectively.
Trying ahead to 2023, as a lot of the epidemic restrictions have been lifted in mainland China and Hong Kong together with the arrival of the long-awaited quarantine-free journey, the native advert spend is anticipated to develop.
By way of media retailers, digital media (desktop and cellular) collectively went up by 7% YOY, and social media recorded a rise of 8% YOY. For conventional media, TV advert spend recorded a YOY improve of 1% in 2022.
Among the many High 10 industries in advert spending, banking and funding companies ranked first with the best advert spend, but recorded a YOY decline of two% in 2022. The class is represented by HSBC Group whose advert spend topped all advertiser teams; whereas Hold Seng Financial institution ranked the ninth.
The advert spend in prescription drugs and healthcare trade recorded a rise of 13% YOY in 2022. The advert spend of biotech firm GSK ranked tenth among the many High 10 advertiser teams.
The retail class, recording a YOY improve of 6% in 2022, benefited principally from the distribution of the 2 rounds of consumption voucher in April and August. The advert spend of DFI Retail Group, which operates Wellcome supermarkets, Mannings and 7-Eleven, marked a 3% YOY lower in 2022 and ranked 4th among the many High 10 advertiser teams.
In the meantime, well being and sweetness meals class recorded a rise of 15% YOY in 2022 and ranked the primary among the many High 10 industries when it comes to progress fee. Particularly, Vita Inexperienced Well being Merchandise from the High 10 advertisers group recorded a 11% YOY improve.
Among the many High 10 advertiser teams, LVMH Group had the best progress with a rise of 18% YOY in advert spend. The advert spend of Walt Disney elevated by 11% YOY, the corporate spent most on selling its streaming platform and theme park. The advert spend of the sixth-ranked Samsung elevated by 6% YOY. Its Galaxy Z Flip4 smartphone accounted for the most important proportion of the group’s advert spend. Different High 10 advertiser teams that recorded YOY progress included Reckitt Benckiser in eighth (5%).
MAGNA report: Advert spend for 2023 and a breakdown of the mediums
Hong Kong’s advert spend on digital media sees optimistic YOY progress