The star power of festive favourite Michael Bublé and singer Christina Aguilera will not be enough to arrest a £150m slump in Christmas TV advertising spending, as the cost of living crisis and the pull of alternative media tempers the traditional big-budget marketing showdown in the biggest shopping quarter of the year.
UK companies are set to spend a record £9.5bn on marketing in the run-up to Christmas, known as the “golden quarter”, which many retailers rely on to drive annual profits and sales. That figure is up more than £400m overall on last year.
