While brands turn to marketing to promote their products and services in an ever-increasingly competitive world, the UK marketing industry is experiencing a period of growth not seen since 2014. In the second quarter of 2024, all major marketing categories and a net balance of 16 percent of companies recorded increases in
. Market analysts attribute this development to the strong performance the UK economy delivered in 2024 as well as falling inflation and a more friendly investment environment brought about by the reduction of interest rates. The highest increases have been recorded for event marketing, as well as
on broadcaster video-on-demand (BVoD) platforms, digital out-of-home (DOOH) screens, as well as in search engines see highest growth rates. On the other hand, the highest decreases will affect print media and direct mail.
What keeps UK marketers on their toes
Marketing has become progressively more complex as consumers become increasingly demanding. Marketers struggle to understand their new core target group – the so-called
Generation Z (mainly people born between 1997 and 2013), which puts steep
demands on brands. They need to make a good product at a reasonable price and have an ethical or political stance that aligns with that of the Gen Z consumer. The brand and its products must also be aesthetically pleasing and excel in individuality and uniqueness. Additionally, the industry faces such
challenges as the permanent process of adopting new digital technologies, tools, and platforms, marketing products outside of the UK in the post-Brexit regulatory environment, or employment-related issues.
Employment in the UK marketing sector
The
number of employees in the advertising and marketing industry in the UK has been steadily increasing since 2019. In 2022, it was seven percent higher than a year earlier and in 2023, it increased by another five percent, employing 253 thousand people. The
salaries of marketing professionals in the UK vary between 28 thousand British pounds per year for a marketing executive in a medium enterprise and 143.6 pounds for a CMO at a large enterprise. The industry has quite a road ahead fighting
pay gaps, the largest of which is the gender pay gap, which stood at 16 percent in early 2024. This signifies that women employed in the industry earned on average 16 percent less than men.
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