Global crisis blamed for 30% drop in local advertising expenditures

Published by rudy Date posted on March 27, 2009

Local advertising expenses went down by 20 percent to 30 percent because of the global economic downturn, according to an official of the Philippine Association of National Advertisers (PANA).

“The immediate reaction [to] any crisis is to cut back costs and that includes advertising [reacting that way],” Charmaine Canillas, the president of PANA and advertising and promotions director of Petron Corp., said on Thursday.

Despite the scrimping, Canillas added, advertising remains a “commitment” to giving consumers the freedom to choose products they want to buy.

“Unfortunately, however, advertising expenses were reduced by 20 percent to 30 percent” during the first quarter of 2009, she said during a press conference launching the 21st Philippine Advertising Congress.

Canillas, also the chairman of the Advertising Board of the Philippine Advertising Congress, noted that there now is a “wait-and-see attitude” and PANA is talking with the media and service providers on possibly mitigating the impact of the global crisis.

She said that PANA hopes that amid the downturn, advertisers would continue to plug their products.

“The advertising industry is committed to sustain [itself]. It is important for us to keep the industry alive and growing and one way to do that is to come up with the Advertising Congress,” Canillas added.

The 21st Philippine Advertising Congress, which is set for November 18 to 21, will be held in Baguio City, with the theme “Perspective: Ano sa Tingin Mo?”

The theme is an appropriate one for this year because people are looking at different perspectives to address the current situation, according to Fernando Zobel de Ayala, the honorary chairman of the Philippine Advertising Congress.

“We have the flexibility to adjust and reconfigure some of the things that we are doing to precisely face the global condition,” said Zobel de Ayala, this year’s congress keynote speaker.

Canillas urged advertisers to continue promoting their products since, she said, this is the best time to do it.

During the 21st Philippine Advertising Congress, she said, they will push their partners “to come up with better results without spending too much money. You don’t need to spend too much to be more creative.”
— Cris G. Odronia, Manila Times

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