LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Magazine Advertising Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the marketing industry. This report breaks down the data and analysis behind the procurement of magazine advertising services and acts as an all-inclusive guide for making smart purchasing decisions.
“The major end-user segments of the global magazine advertising market, include retail, BFSI, real estate, travel and tourism, and FMCG,” says SpendEdge procurement analyst Tridib Bora. “Also, service providers are increasingly integrating technological aspects that can enhance the impact of magazine advertising on end-consumers,” added Tridib.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Magazine Advertising Market:
- Innovations in the creative part of magazine advertising
- The substantial use of magazine advertising in emerging economies
- Outsourcing of production part to local advertising agencies
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Innovations in the creative part of magazine advertising:
Globally, several leading service providers are focusing on implementing innovation in terms of content creation for magazine advertisements. The primary objective of the shifting focus is to ensure the effectiveness of the content to the end-users and to increase consumer engagement with the buyers. The buyers provide personalized services based on the type of magazine as well as the end-user segments as it helps in attracting a huge customer base and also strengthens brand engagement.
The substantial use of magazine advertising in emerging economies:
The low level of internet penetration in emerging economies such as Peru, India, and Indonesia has propelled the growth of traditional advertising techniques such as magazine advertising in these regions. Moreover, the buyers prefer this medium of advertising due to factors such as increased shelf-life and enhanced visibility.
Outsourcing of production part to local advertising agencies:
Globally, there is an increase in the number of buyers that are outsourcing the production part of magazines to local advertising agencies. This is mainly because engaging with local advertising agencies helps the buyers in procuring the services at lowers costs leading to an overall reduction in production costs.
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