Influencer Advertising - United Kingdom

  • United Kingdom
  • Ad spending in the Influencer Advertising market in the United Kingdom is forecasted to reach £0.92bn in 2024.
  • Ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 5.98%, leading to a projected market volume of £1.23bn by 2029.
  • The average ad spending per internet user in the Influencer Advertising market in the United Kingdom is estimated to be £14.84 in 2024.
  • In global comparison, China is expected to generate the highest ad spending (£15,070.00m in 2024).
  • In the United Kingdom, Influencer Advertising is rapidly evolving with brands increasingly collaborating with micro-influencers to drive targeted engagement and authentic brand promotion.

Key regions: France, China, United Kingdom, United States, India

 
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Analyst Opinion

The Influencer Advertising market in United Kingdom has been experiencing significant growth in recent years.

Customer preferences:
One of the main reasons for the growth of the Influencer Advertising market in United Kingdom is the changing preferences of customers. With the rise of social media and digital platforms, consumers are increasingly relying on influencers to guide their purchasing decisions. Influencers are seen as trusted sources of information and recommendations, and their endorsements can greatly impact consumer behavior. As a result, brands are investing more in influencer advertising to reach and engage with their target audiences.

Trends in the market:
One trend in the Influencer Advertising market in United Kingdom is the shift towards micro-influencers. Micro-influencers are individuals with smaller but highly engaged social media followings. They are often seen as more authentic and relatable compared to celebrities or macro-influencers. Brands are recognizing the value of micro-influencers in reaching niche audiences and are partnering with them to promote their products or services. Another trend in the Influencer Advertising market in United Kingdom is the rise of video content. Platforms like YouTube and TikTok have gained immense popularity, and influencers are leveraging these platforms to create engaging video content. Video content allows influencers to showcase products or services in a more dynamic and interactive way, capturing the attention of their followers and increasing brand visibility.

Local special circumstances:
The United Kingdom has a highly developed influencer ecosystem, with a large number of influencers across various industries. The country is home to many fashion, beauty, and lifestyle influencers who have gained international recognition. This has attracted the attention of brands from around the world, who are eager to collaborate with these influencers to expand their reach in the United Kingdom market.

Underlying macroeconomic factors:
The growth of the Influencer Advertising market in United Kingdom can also be attributed to favorable macroeconomic factors. The United Kingdom has a strong economy and a high level of internet penetration, providing a conducive environment for influencer marketing. Additionally, the increasing adoption of smartphones and social media platforms has made it easier for consumers to access and engage with influencer content. In conclusion, the Influencer Advertising market in United Kingdom is experiencing significant growth due to changing customer preferences, the rise of micro-influencers and video content, the presence of a well-established influencer ecosystem, and favorable macroeconomic factors. Brands are recognizing the value of influencer advertising in reaching and engaging with their target audiences, and are investing more in this form of marketing to stay competitive in the market.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on influencer advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising fees paid directly to influencers to post sponsored content.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use market data from independent databases, influencer marketing platforms, and third-party reports to analyze and estimate global influencer advertising spending. We start by researching on the average cost per content post on each social media platform, the number of influencers available on advertising platforms (breakdown by tier: nano, micro, macro, and mega), and the average number of posts per year. Then we estimate the market size for each country individually. We use relevant key market indicators and data from country-specific industry associations, such as GDP, social media users, and digital consumer spending. Lastly, we benchmark key countries or regions (global, United States, China, etc.) with external sources.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.

Overview

  • Ad Spending
  • Analyst Opinion
  • Reach
  • Demographics
  • Global Comparison
  • Methodology
  • Key Market Indicators
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