The latest IAB report, which draws on data provided by PwC, highlights the ebb and flow of sentiment and spending in advertising.
The study found that digital ad spend has accelerated 49% in the first half of 2021 to reach £10.5 billion. Moreover, the statistics chart a 42% increase versus ad spend in the first half of 2019, indicating that digital ad spend in 2021 is significantly outperforming its pre-pandemic baseline.
The credit of this growth goes to the flourishing ecommerce market, improving production logistics and lockdown restriction easing. IAB also catalogues the changing lifestyle of Brittan’s online population, which has increased 6% since the beginning of the pandemic – driven by over 75s, where the proportion online surged 43%. Search remains the most effective digital channel, rising a further 49% YoY to £5.5 billion.
IAB UK’s chief executive officer Jon Mew said the pandemic forced businesses to either accelerate or improve their ecommerce offering. As a result, the industry witnessed three years of change in only three months. Mew added, “Advertisers, in turn, adopted a more digital-heavy strategy as it was the medium least impacted by the lockdown.”
[2 minute read]