According to a report by Espace Pub and Nielsen, advertising spending in Luxembourg has dropped by approximately 24% during the COVID-19 pandemic.
During the first half of 2020, the entire economy was impacted by the pandemic. Throughout the first semester of this year, members of Espace Pub and Nielsen continued their collaboration in order to collect, control and publish the results of advertising investments. The figures included in the "Luxembourg Ad’Report" were validated by a technical committee made up of members of Espace Pub, Nielsen and a state official.
The report revealed that gross commercial advertising investments contracted by €18.4 million, or 24.51%, in the first semester of 2020 in the Grand Duchy. More specifically, spending fell from €75,177 (January to June 2019) to €56,750 in the first six months of 2020.
Regarding specific economic sectors, advertising spending in the food industry took the greatest hit (down 54.16%), followed by the drinks industry (down 42.73%) and the clothing and accessories sector (down 40.94%). Non-banking and non-financial services were by far the least affected, with spending having dropped by just 6.47% over one year.