In 2007, local business spent 10% more on advertising than they did on promotions (e.g., coupons, discounts, and promotional products); however, in 2012, they spent a stunning 81% more on promotions, according to a new report by Borrell Associates.
The key to that change is digital promotions, Borrell found.
Even though local advertising is forecast to rebound in 2013—up an estimated 8% year over year, to $101 billion—that projected spend will still be 16% less than 2007 levels. Meanwhile, spending on local promotions is forecast to reach $176 billion in 2013, up 33% from $130 billion in 2007.
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