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Q2 2024 Bellwether Report

Upward revisions to budgets recorded in every main category

The IPA Bellwether Report is a quarterly survey outlining companies’ marketing spend intentions and financial confidence.

The Bellwether Report is researched and published by S&P Global on behalf of the Institute of Practitioners in Advertising. The report features original data drawn from a panel of around 300 UK marketing professionals and provides a key indicator of the health of the economy. The survey panel has been carefully selected to represent all key business sectors, drawn primarily from the nation’s top 1000 companies.

Key findings from the Q2 2024 IPA Bellwether Report:

  • After a challenging few years, UK companies gear up for growth as marketing budgets see strongest upward revision since Q1 2014.
  • Upward revisions to budgets recorded in every main category, with events continuing to lead growth.
  • Company-own financial prospects at most positive in nearly three years as mood amongst businesses improves.

Commenting on the latest survey, IPA Director General Paul Bainsfair said:

"In line with the brightening economy, decreasing levels of inflation and a new Government, this quarter’s Bellwether Report reveals real vim and vigour regarding UK companies’ marketing spend intentions. As we know, advertising is a lever for growth for companies and so it is great to see them capitalising on these developments.

"While we welcome this positivity, it is worth noting that while inflation levels have come down, this hasn’t yet translated into prices, and as such strains on many household finances prevail. This is something we’ve seen in our recently launched 2024 IPA TouchPoints data where more than a third of consumers say they are struggling to cope on their current income. Companies would benefit from being cognisant of this in terms of their communications approach and messaging to their consumers. I suspect that those brands that can bestow their sense of value, trust and reward will fare well here."