As companies across the world try to figure out the economic ramifications of the coronavirus, the advertising business is suddenly in free fall.
, brands are pondering whether to invest in advertising if they can’t get their products on the shelves because of supply chain issues or because of staffing shortages — even if demand for their products remains.
“This is just the beginning," she told NBC News."Every agency is going to consider a number of things from a rollback in salaries at a senior level, to furloughing certain employees who maybe can’t work remotely or are not in critical roles right now. There’s going to be a lot of shifting to manage business and cost flow.”
Several industry prognosticators are retooling their expectations for ad growth estimates as the economic ripple effects of social distancing throttle markets and potentially also roil political ad spending. “We are at an inflection point with respect to e-commerce,” he said, predicting that stay-at-home measures will influence people beyond the state-mandated period. People will continue to visit supermarkets and retail less frequently, he said, noting, “We’re seeing that in Asia already.”
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