Uk Retail Marketing Teams Poised For Sign Budget Cuts
… but finance departments seem more bullish!
21 November 2008
Sign installation and maintenance company Xmo Strata has commissioned research to test the UK market on the eve of recession – and the results make for surprising reading.
Researchers quizzed 50 senior finance managers (finance directors, purchasing managers etc) and 50 marketing professionals, all working in retail companies across the UK.
In some areas, marketing professionals are less bullish about likely expenditure than the normally conservative money men and women. For example, only 18% of the financial managers thought their companies would spend less on signage in a recession – 32% of marketing people expected budgets to be cut. 18% of the financiers also expected to spend more on signage – compared to only 8% amongst their marketing colleagues.
Only 10% of the financial managers thought their companies would spend less on sign maintenance, but that figure rose to 36% when put to the marketing teams. None of the marketeers expected to spend more on sign maintenance, but 12% of financiers were braced for higher maintenance bills.
Managing Director Steve Martin commissioned the research from The Survey Shop and says some of the results have come as a surprise.
“I supposed we had expected the financial managers to be more reluctant to spend money and more determined to dig their heels in and slash budgets,” he said. “But surprisingly it is the marketing teams – who you might have thought would die in a ditch to defend their budgets – that seem resigned to cutting their cloth.
“It may be that the marketing teams are pessimistic and believe that they will have greater restrictions placed on them than the finance managers are currently considering. Whatever the reason, it is clear that there will be pressures on suppliers to provide value for money.”
The full results of the survey can be viewed at www.xmostrata.com.