Retail Search Spend Up 33%
ADOTAS – In spite of (or due to) forecasts of a Scroogey holiday season, multi-channel retailers are actually increasing their U.S. search spend, according to a report from SearchIgnite. Retail search spend is up 33% so far this quarter compared to Q4 of last year.
The increase is becoming more pronounced as the quarter progresses leading up to the peak holiday season, SearchIgnite found. Although it is typical for retailers to ramp up their marketing spend throughout Q4 and leading up to the holidays, 2008 showed marked differences from the prior year.
For the first half of Q4 08, the pace of spending among retailers is up 58% over Q3 spend. This compares to an increase of only 40% for comparable periods in 2007 (Q3 vs first half Q4).
“With the current economic climate leading up to the holidays, retailers are looking for ways to capture consumer spend and drive revenue in efficient ways,” said Roger Barnette, president of SearchIgnite. “We’re seeing multi-channel marketers moving more dollars into search from other areas of their marketing mix since search is still the most efficient and measurable advertising channel.”
SearchIgnite is a search management and auction campaign optimization technology company.
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