Recent announcements by consumer goods giants Mondelez and PG that they would extend payment terms to 120 days and 75 days from 45, respectively, will therefore hit an industry that is already under pressure.
“It’s been common practice in the industry for a while now, and these announcements by the major clients are just formalising the practice,” said Darren Woolley, managing director of marketing consultancy TrinityP3. “Agencies have been accepting it...
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