Will advertising budgets adjust to the new norm?

Some would say these are hard times, and a recession has been over-due. Though, some would say COVID-19 directly affected the economy and resulted in what’s considered our current recession.

It’s March 28th, 2020, and it is very clear COVID-19 has taken a hit to our economy. Both consumers and businesses have changed regular habits in preparation and some indirect effect to the COVID-19 situation.

Businesses have been driven dry and pushed to shut down. Others have had to layoff employees; like the e-commerce giant Amazon, who was presumed to layout nearly 3,000 people since March 1st, 2020.

While budgets continue to be affected by COVID-19 and the dip in the global economy, large companies have drastically cut their advertising spending budgets.