Report: HK adspend is showing stronger signs of recovery

Hong Kong's overall ad spend dropped significantly last year but it showed some signs to recover as ad spend in Q4 2020 enjoyed a 13% quarter-over-quarter increase. 

AdmanGo has released the latest Hong Kong Adspend Report 2020, highlighting that the overall ad spend dropped 18% in 2020. However, the market has shown some signs of recovery. Adspend in Q2 2020 was 4% higher than that in Q1, while Q3 and Q4 recorded a 14% and 13% quarter-over-quarter increase respectively. Furthermore, adspend saw a 1.4% year-over-year increase in Q4 2020.In particular, banking and investment services (+22%), insurance (+33%) and restaurants (+14%) marked a significant adspend growth. Among which consumer banking and integrated accounts (+157%), medical insurance (+26%) and food delivery and catering services (+45%) were the key subcategories with an outstanding adspend growth.

In terms of media outlets, mobile adspend saw a 17% year-over-year increase in 2020 while digital media (mobile, desktop and social media) adspend was up by 2%. A number of industries such as banking and investment services, insurance and restaurants started shifting to digital media for advertising. Adspend in mobile and social media by banking and investment services marked a 34% and 20% year-over-year growth, and the share of voice of mobile and social media adspend increased from 28% in 2019 to 40% in 2020.Due to the persistent pandemic, the adspend of the toiletries and household, and health and beauty food categories were up by 3% and 4% respectively in 2020. Laundry services or products saw an 81% year-over-year increase in adspend, while detergent and cleaning products and hand wash showed a drastic 172% and 332% year-over-year adspend growth respectively.
As for the top 10 advertiser groups last year, Dairy Farm Group topped the list, followed by P&G and HSBC.