February bookstore sale fell 22.3% compared to 2020, according to preliminary estimates released by the U.S. Census Bureau. The decline is higher than the 16.7% drop bookstore sales experienced in January compared to the first month of 2020. Bad weather and more store lockdowns as Covid-19 cases spread are likely reasons for the higher decline in sales. In the month, sales were $446 million, down from $573 million in February 2020. For the first two months of 2021, bookstore sales were $1.24 billion, down 18.7% from the comparable period last year. For the entire retail sector, February sales rose 2.9% and sales were up 5.3% for the first two months of 2021 over 2020.
Macroeconomic troubles have prompted Zenith to lower its global ad-spend growth prediction to 4% for 2017, when total expenditures are now expected to reach $558 billion.
That’s a downgrade from the 4.2% growth that Zenith had forecast in June. The June forecast was a downgrade from the 4.4% the Publicis Groupe media agency had forecast in March.
“I was surprised to downgrade so many Eurozone ad markets, since the region is currently enjoying its best economic performance for a decade,” says Jonathan Barnard, the agency’s head of forecasting and director of global intelligence. There are also pockets of weakness in Mexico and Thailand, while Malaysia’s recovery from a 2016 downturn is taking longer than expected.
These disappointments have been partially offset by improvements in Canada and Russia. For now, Zenith projects that global ad expenditure will hit 4.2% in 2018.
Although some persistent uncertainty remains in the U.S. marketplace — particularly with regard to policy changes the Trump Administration may or may not implement — advertising is forecast to increase 3.5% in 2017 to $434.5 billion, roughly in line with earlier predictions for the year. Next year the U.S. market’s growth is currently expected to hit 3.4%, per Zenith’s latest forecast.
Digital — and particularly mobile — continues to take dollars away from print media as consumers use mobile apps. The most rapid growth is coming from online video (+18%) and social media (+25%), while U.S. TV is still growing, only fractionally at 0.5% this year.
American print media continue its steep decline, with newspapers falling 9% and magazines down 7.4% this year.
Globally, social media — growing at 20% per year — and online video — growing at 21% per year — are driving 14% annual growth in total display advertising, according to the updated forecasts.
more at: https://www.mediapost.com/publications/article/307096/zenith-ad-forecast-downgraded-again.html