Advertisers are spending more during the coronavirus pandemic as the demand for products in it's healthcare, fabricare and homecare categories grows.
On 17th April, Proctor & Gamble (P&G) reported an organic sales increase of 5% year-on-year.
The CPG giant, which produces the products such as toilet paper brand Charmin and cold relief medicine Vicks, witnessed US sales rise by 10% this quarter. The bump successfully offset the corresponding 8% decline in the Chinese market.
Despite growth in demand during this time – as well as “concentration” of the number of products shipping to retailers – chief financial officer Jon Moeller confirmed the company would be putting its foot down on media spend, rather than taking it off in an effort to bank cash.
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