Consumer electronics, sporting goods, and consumer product goods saw an uptick in digital ad spend toward the end of 2020, according to data released Monday.
Consumer electronics rose 217%, while sporting goods rose 81%, followed by consumer goods, rising 80%; furniture, 68%; and utilities, 67%. These market segments saw the highest increases in digital ad spend by the end of 2020, according to new research from Improvado, which supports companies such as Coca-Cola, illy, and Ancestry.
Research from martech firm Improvado looks at the impact of COVID-19 on brands' digital ad spend, pulling data from 6,000 U.S. companies across Google Ads to determine the biggest digital increases and decreases during 2020.
The insurance sector rose 2% and saw a small but significant increase in ad spend, along with hospital & healthcare at 12%, financial services at 13%, food production at 16%, non-profit organizations at 17%, and business supplies and equipment at 17%.
Not surprisingly, industries that rely on large crowds had the most significant drop in ad budgets as a result of closures and tougher restrictions. Hospitality, entertainment, travel, leisure and tourism reduced spending as the long-term effects of the COVID-19 pandemic are felt across many industries.
Places like entertainment venues fell 82%, while leisure, travel & tourism fell 78%, airlines and aviation declined 77%, hospitality declined 77%, and recreational facilities fell 69%.