BDO Seidman: 35% of Retail CMOs Cut Holiday Spending December 11, 2008
Posted by Mark Blei in : Uncategorized , trackback
Only 25% of retailers say their holiday ad spend is up this year; 35% say they have cut back ad spending as a result of the weak economy, while 43% say their holiday budgets are flat, according to a new study from BDO Seidman.
Of the CMOs surveyed for the study, 57% say they will spend the majority of their budgets on print advertising. 21% will spend most of their budgets on broadcast, while 19% will focus online, writes MediaPost.
Green marketing is still hot, with 43% saying they are increasing their focus on green products, up from 37% last year.
CMOs expect that Black Friday sales will grow 1.2% this holiday season. Online sales for Cyber Monday are expected to grow by 2.4%. Internet sales and gift card sales are expected to fare much better for retailers. CMOs are projecting internet sales to grow 8.0% and gift card sales to grow 5.1% this holiday season.
Read The Rest—>BDO Seidman: 35% of Retail CMOs Cut Holiday Spending
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