THE WHAT? Amazon has knocked Procter & Gamble off the top spot as the world’s largest advertiser, a position the personal care giant has held, with only one blip, since 1987.
THE DETAILS Ad Age, which publishes an annual record of the year’s largest advertising spenders, showcased that Amazon has spent $11 billion on advertising and promotion in 2019, to Procter & Gamble’s $10.7 billion in the fiscal year ending June 2020.
Amazon’s ad spend jumped up 34 percent since its came in in fifth place in 2018, with P&G increasing its ad spend by $600 million from 2018.
L’Oréal took third place, spending $10.3 billion on advertising in 2019.
THE WHY? P&G has remained steadfast at the top, with Samsung Electronics being the only company to knock it off the spot in 2017.
Amazon’s rise to the top mirrors its exponential growth as the worldwide e-tail king, however, Ad Age has warned of more muted spending in 2020.
It said, “But 2020 ad spending figures for top marketers are going to be depressed—with exceptions for some advertisers that increased spending to take advantage of market opportunities amid the coronavirus pandemic.”