UK marketing budgets continue to contract markedly amid impact of COVID-19

UK companies registered another drastic reduction in marketing budgets during the third quarter amid ongoing COVID-19 restrictions, according to the latest IPA Bellwether Report. The result followed a record reduction in available funds during the second quarter, when many businesses were either temporarily closed or operating at reduced capacity.   The Q3 2020 IPA Bellwether Report indicated that a net balance of -41.0% of panellists saw their marketing budgets cut in the third quarter (up from -50.7% in Q2). The result represented the second-quickest decline since the survey’s inception in…

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