Marketing budgets and consumer confidence

 |  By: Steve Johnson

The Q2 2014 IPA Bellwether Report, published last Friday, shows that marketing budgets continued to be revised upwards for the seventh successive quarter. It’s the longest period of continuous growth in the survey's 14-year history.

Their data shows that the sector reporting the highest growth in marketing spending was internet-related, followed by main media advertising, then events, direct marketing, PR and sales promotion. Mediatel Newsline have a good summary here.

At the same time, GfK’s UK consumer confidence index has moved into the positive zone for the first time since 2005.

Consumer confidence chart

What does this mean for actual consumer decision-making? Here are GfK’s UK statistics on the current climate for consumers making major purchases:

Consumer purchases chart

All rather upbeat.

So feel free to celebrate. Whose turn is it to buy the ice creams? Live a little. We’ve waited nine years to see the day when consumers are officially cheerful once again...