Resiliency of small businesses, a branding slow down and naturally declining growth are all key trends hitting the marketing industry as the labor market closes and the economy shows signs of slowing, The Wall Street Journal reported July 8.
Here are three things to know about how the economic slowdown is affecting the marketing world:
- If there is a slowdown of the market as is predicted, brand marketing may be hit first with organizations deciding to slow spending on advertising that generates awareness.
- The resilience and adaptability of small and medium-sized businesses means that they will be better able to weather the economic storm than large corporations.
- Even though a slowdown is coming, analysts do not predict the growth from the pandemic era to continue.