The company has attributed the increase to the resurgence of the city’s economy and renewed consumer confidence, particularly among the student demographic, which increased spending during the summer vacation period.
The report found the biggest spending sector to be banking and investment services, which invested a total of $107 million over the quarter — an increase of 25 per cent year-on-year. According to Admango, the bulk of this (20 per cent) was concentrated on the promotion of credit cards. HSBC was shown to be the highest spending advertiser overall, having invested nearly $10 million over the period.
Spend by the toiletries and household goods sector also increased significantly, overtaking the cosmetics and pharmaceutical sectors. Mannings, a pharmacy, was the second biggest advertiser, followed by telco PCCW, Bank of China and McDonald’s. The most pronounced increase in advertising spend (31 per cent) was made by the property and real estate sector, led by Midland Realty and the Centaline Property Agency.
Share of media spend saw little change, with TV claiming the lion’s share (just over 35 per cent). This was followed by newspapers (32 per cent), magazines (14 per cent), outdoor (10 per cent) radio (4.5 per cent) and interactive (4 per cent).
Representatives from Admango were unavailable for comment on the results at press time.
Hong Kong adspend sees spike in third quarter : Admango
HONG KONG - Advertising spend for the third quarter has risen by a total of 14 per cent year-on-year in Hong Kong to over US$1 billion, according to local advertising research firm Admango.
