Welcome to the first edition of Zenith’s new Business Intelligence reports.
Each report will focus on a specific business category. We will look at the main trends in advertising in that category, and forecast their future, while also examining the top-level business environment, and how consumer behaviour is shaping the development of the industry.
For this first edition we focus on the automotive industry. This has suffered disproportionately from the coronavirus pandemic, but the prospects for growth are good once the recovery takes hold. Consumers who need new cars have postponed, not cancelled, their plans to buy. The development of more advanced and environmentally friendly vehicles, combined with new demand for private transport among consumers wary of crowds, is forecast to spur sustained growth in new vehicle sales from 2021 onwards.
Auto brands will need to develop new ways of communicating with consumers, whose expectations for how to research, choose and buy cars are shifting online, a trend that the pandemic has accelerated. Digital advertising is already the biggest channel for automotive brands, and its importance will only grow over the next few years.
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