According to a new report from AdmanGo, Hong Kong advertising spending recorded a 35% YOY increase from January to June, with banking and investment services leading all sectors with nearly 80% YOY growth. In particular, Promise Finance marked significant growth (83%).
Pharmaceuticals & Healthcare fell by 6% YOY, but still remain in second place. Toiletries & household ranked third, with a 49% YOY increase. Nonio MouthWash (+215%) was the standout brand.
Mobile adspend saw a 55% YOY increase, with TV and social media recording 45% YOY growth.
AdmanGo noted that two local boybands, Mirror and Error, have "taken the marketing scene in Hong Kong by storm". In the first half of 2021, five of the top 10 Instagram advertisers (and 27 out of the top 50) had members of either one or the other group involved promotions. Deliveroo, Citibank and HSBC, which ranked as the top three Instagram advertisers, worked with both groups.
Members of Mirror danced for Deliveroo:
Error did its thing for HSBC: