Unveiling Out-of-Home Trends: 5 Intriguing Stats to Kickstart Your Week

Out-of-home advertising revenues grew by 12.9% in third quarter

Out-of-home ad revenues in the third quarter of 2023 hit £246m, marking a 12.9% increase from the previous year. Digital out-of-home revenues outpaced the category, growing by 15.6% and now representing 65% of the total category.

Meanwhile, traditional out-of-home revenue increased by 8.1%.

In the third quarter, out-of-home revenue was 4.9% higher than the same period in 2019, marking the first time that revenue for a specific quarter has surpassed pre-pandemic levels.

In 2021, a report from PwC revealed that the UK out-of-home sector contributed £411m towards public services, infrastructure, communities, and employees, which is equivalent to 46% of its advertising revenue.

73% of B2B tech firms to increase marketing budget despite hit to revenue

Nearly 80% of marketing decision-makers in B2B technology firms have stated that they have felt a significant effect on their revenue due to the economic conditions in 2023.

Even in challenging times, B2B technology companies are prioritizing marketing, with 73% intending to boost their budgets for the upcoming year. Along with larger budgets come higher expectations, as more than half (55%) of businesses are setting more ambitious key performance indicators (KPIs) to align with their increased spending.

Businesses that boosted their budgets in 2023 are highly likely to do so again next year, as 92% of companies that increased their budgets this year plan to do the same next year.

Almost half of Brits say they avoid streaming services and channels with ads

Almost half (49%) of British consumers say they try to avoid streaming services and channels that carry ads, according to research from Mintel.

Certain attributes increase the likelihood of consumer engagement with ads. Humorous content (44%) is among the top three factors that can capture a viewer's attention during a TV ad. Additionally, over a quarter (27%) of TV viewers prioritize familiar product features as one of the key factors that grab their attention.

QR codes offer an alternative method for capturing the interest of consumers who are weary of advertisements. A majority (61%) of young men between the ages of 16 and 34 express willingness to scan a QR code featured in an advertisement in order to obtain additional details about a product or service. Similarly, more than half (51%) of dual-parent households share this sentiment.

Toiletries marketed at women are 76% more expensive on average

Women’s toiletries are over three-quarters (76%) more expensive on average than products marketed towards men.

Shampoos and conditioners, aimed at women, have a significantly higher price tag of almost double (96%) per 100ml compared to men's products. This means that very similar products from the same brand can end up being much more expensive for women.

For instance, both TIGI Bed Head Headrush and TIGI Bed Head Power Play products guarantee shine, frizz control, a smooth texture, and professional-grade quality. Despite these similar product benefits, Power Play, marketed towards men, is priced at £3.98 per 100ml, while the women's marketed Headrush costs £6 per 100ml.

In addition, the research indicates that face creams are 82% pricier when marketed for women compared to their counterparts marketed for men.

Although some of these discrepancies can be down to differing ingredients, these price differences can often be put down to marketing strategy, the research finds.

Source: Showers to You

Four in 10 marketers believe rebranding for Christmas is wasteful

Brands transform an average of 17 types of assets (including digital logos, packaging, and physical ads) for the festive season.

Many companies start their festive rebranding process in June, taking an average of 5.7 months to complete. Surprisingly, 9% of participants reported beginning this process a whole year in advance.

Despite the significant effort involved, 41% of marketers believe that this type of rebranding results in unnecessary waste. The main challenges identified include managing the volume of assets, ensuring alignment with the brand, and delivering them at the necessary speed.

Marketers report they rebrand for nine different events and holidays on average, including Black Friday, Halloween and New Year’s Day.

Source: Bynder