After a slower-than-expected 2022 holiday season, many retailers have tightened their budgets in 2023.
While optimizing budgets in times of financial uncertainty makes sense, such times also provide smart marketers with easier opportunities to improve market position. According to research from Analytic Partners, 63% of marketers that increased their marketing investment during the financial crisis of 2008 generated a positive ROI. Furthermore, those that increased their media investments benefitted from a 17% growth in incremental sales.
