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Marketers in UK, France, Germany upbeat despite Brexit

Oct '19
Pic: Shutterstock
Pic: Shutterstock
Despite uncertainty over the economic consequences of Brexit in Europe, brand marketers in the United Kingdom, France and Germany remain upbeat. According to US-based Rakuten Marketing, 74 per cent of the 610 marketers it polled in a new survey expect their marketing budgets to rise in 2020 despite concerns over Brexit and international trade.

And while the respondents are aware that the year ahead is likely to present them with some difficult challenges and tough decisions, 84 per cent of UK respondents said they feel optimistic about marketing in 2020, rising to 88 per cent in France and 89 per cent in Germany.

More than half (53 per cent) of marketers in these three countries said expanding into new markets would be their top priority for next year, driven in part because 41 per cent of them believe tougher competition from online retail giants poses the greatest threat to their work.

The survey questioned marketers in five sectors–luxury fashion, mainstream fashion, retail, travel and finance–and found concerns over Amazon and other giant e-retailers dominating the minds of mainstream fashion marketers in the United Kingdom (57 per cent), according to British media reports.

The survey revealed that UK marketers think almost a third (30 per cent) of their marketing budget is still being wasted on the wrong channels or strategies, a 10 per cent rise since the beginning of 2018.

Fibre2Fashion News Desk (DS)

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