JC Lupis | Marketing Charts | Wed, 08 Jun 2016 13:30:24 +0000

Luxury advertising spending growth slowed to 1.9% last year across 18 key markets, reports Zenith in a recent forecast. However, ad spending is expected to pick up this year to register a 3% increase (to $10.9 billion), roughly the same growth rate as seen in 2014 (2.9%). That’s still below the predicted growth rate of all advertising, which Zenith projects will be 4.5% this year.Zenith-Luxury-Ad-Spend-Growth-Forecast-June2016

The North American region appears to be the most buoyant for luxury advertising. Spending in North America grew by almost double the 18-market average last year (3.6% vs. 1.9%), and will again outpace the average this year (3.9% vs. 3%).

North America’s gains are being driven by the US. Together, the US and China are expected to contribute 82% of the ad spending gains between 2015 and 2017. The US is the world’s largest luxury advertising market, at 45% share of the 18-market total last year.

Within the US, advertisers should consider targeting men rather than women, suggests a new report from the Shullman Research Center. According to the Shullman survey results, men were 50% more likely than women to have made a luxury purchase in the 12 months prior to the survey (33% vs. 22%). Men were particularly more likely than women to have purchased fine wine/beer/spirits (13% vs. 6%), a luxury cruise/vacation (13% vs. 5%) and a fine watch or jewelry (12% vs. 5%).

For data concerning high-income households in the US, see MarketingCharts’ report, Media Habits of the Affluent.

About the Data: The markets covered in the Zenith study are: China, Colombia, France, Germany, Hong Kong, Italy, Malaysia, Mexico, the Netherlands, Peru, Russia, Singapore, South Africa, South Korea, Spain, Taiwan, the UK and the USA.

The Shullman Research Center results are based on a survey conducted between August 14 and August 25, 2015 among 1,690 US adults.

The post Luxury Ad Spend Set for Modest Growth; Men More Likely Shoppers Than Women appeared first on Marketing Charts.