POV: Out-of-Home’s Road to the Rebound
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Despite decades of marketing science proving that advertisers should not go dark in a recession many advertisers did just that in these early weeks of the COVID-19 pandemic. With businesses shutting or dialing down operations, it’s understandable (to a degree) why holding back advertising spend seems like a prudent move. Our way of living has been completely upended and at a breakneck speed, disorienting people and businesses. Many are calling this time of stay-at-home isolation or lock downs our “new normal” but actually it’s not, it’s an aberration that will come to an end. Looking to the countries who are one to two months ahead of Canada in terms of slowing the spread of the corona-virus, we see what is likely to be our realistic new normal. South Korea and Japan for example have restarted their economies in various stages with people returning to work and businesses opening back up. But it’s not a wholesale return to life pre-COVID. Schools are mostly still out and certain social distancing requirements are in place. We have the benefit of peering into our future by keeping our eye on those countries to see what might lie ahead for us (see: COVID-19: The slow return to normal for a Canadian in China).
While we have yet to hit the peak of this crisis in North America, we do see that in China, who is on the other side of the curve, consumer optimism that the economy will rebound quickly and strongly is highest compared to countries still battling the spread.
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