Page 19 - WhitePaper_MC&I Benchmark in Covid19 Era

RESET GROWTH: Planning for resuming pre-COVID business growth trajectories

The spend outlook detailed below for MC&I segments is also largely indicative of how marketers
are planning to reset growth. Another 11 to 18 percent of MC&I marketers had started to
plan for a Reset Growth mode led by the Hispanic segment, with almost one in fi ve Hispanic
marketers already planning for a reset as of early April, which appeared slightly ahead of the
overall market.

D. MULTICULTURAL AND INCLUSIVE SPEND OUTLOOK AND SHIFTS

Marketers’ decisions on how they will navigate the Recovery and Reset Growth phases will
greatly affect overall marketing spend in Q3–4. Marketing spend shifts by segment are detailed
below. To put these spending shifts in perspective, it is important to remember that many of
these MC&I groups were already largely underprioritized before the pandemic, meaning large
spending cuts are even more signifi cant.

QUARTER 2

In Q2, MC&I spending was two to six times more likely to have been eliminated. Overall, most
MC&I segment spending has declined and a quarter to a third are fl at.

The spending for Q2 is further outlined by segment in the graph below. Of note, as seen in the
graph, 28 percent of marketers totally eliminated spending on Asian marketing, a segment that
few marketers had allocated adequate spending to prior to the pandemic.

CHART 2

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