The company experienced a 17.4% decline in China; a 4.5% decline in takings in Western Continental Europe; a 5.5% decline in the UK; and a 5.5% increase in India. Still, WPP鈥檚 top 25 clients saw 2.5% growth in Q1, helmed by a robust CPG performance, improvement in tech and digital spend, and stabilization in healthcare. Retail, telecom, and travel and leisure declined.
Both companies are increasing ad spend in Europe, especially in the UK and France鈥攁lthough such relief may be short-lived, given that both countries are also considering crackdowns on de minimis imports.
The US is the overwhelming center of gravity for all things advertising鈥攁nd it will remain that way, even though 2023 will see a slight share drop for the country across various metrics. By the end of next year, the US shares of total and digital ad spending will increase once again.
And even digital spending by consumers and marketers doesn鈥檛 always go hand in hand. Countries like China, the UK, and the US all see high penetration of both ecommerce and online advertising. Meanwhile, others like South Korea would count as an ecommerce leader, but a digital advertising laggard. Our New Global Digital Index Showcases Relative Digital Development.