P&G, L’Oréal, and More Increase Ad Spend as Inflation Falls
August 3, 2023
Major advertisers, including Procter & Gamble (P&G), L’Oréal, Unilever, Kimberly-Clark Corp., Nestlé, and Hershey Co., are increasing their ad spend after preparing for a recession that did not occur. P&G reported an 8% increase in organic sales growth after raising its ad spend by $453 million last quarter. The growth in ad spend and improved bottom lines are correlated with the U.S. economy’s positive trajectory and a dip in inflation rates, encouraging advertisers to be more flexible in their spending and focus on performance-driven campaigns.
Recent News
Instacart Partners With Uber Eats for Restaurant Delivery
The two delivery giants are working together to serve customers.
California Bill Could Force Stores To Close Self-Checkouts
A California bill could change regulations on self-checkouts in stores. Some businesses may have to discontinue this service altogether.
Apple Is Developing Chips for AI Software in Data Centers, According to Reports
According to a report from the Wall Street Journal, Apple has been working on chips designed to power artificial intelligence software within data centers.
FAA Launches New Boeing Probe, 787 Dreamliners Under Fire
Beleaguered Boeing continues to face federal woes, this time for its 787 Dreamliners.