Marketing budgets in the UK reached the highest peak in over a decade during Q2 2024, with upwards revisions in every main category, marking the second highest revision in the IPA Bellwether Report's history.
Consumers are still facing challenges, with high prices despite the pound hitting a one-year high against the dollar. Data from IPA TouchPoints indicated over a third of consumers struggle on current incomes.
Social interactions drove the events category to lead with a 17.2% net balance increase, followed by direct marketing and sales promotions. Marketers plan to increase spending in all main categories except market research.
During the Euros final, brands risk disconnecting from audiences due to overly aggressive buy-side blocking. Events like the summer of sport and consumer travel have driven budget growth opportunities.
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