The Out-of-Home Advertising market in New Zealand has been experiencing significant growth in recent years.
Customer preferences: One of the main reasons for this growth is the changing preferences of customers. With the rise of digital media and online advertising, consumers are becoming increasingly immune to traditional forms of advertising. As a result, many businesses are turning to out-of-home advertising as a way to reach their target audience in a more impactful and engaging way. Out-of-home advertising offers a unique opportunity to capture the attention of consumers when they are outside of their homes and more receptive to advertising messages.
Trends in the market: There are several key trends that are driving the growth of the out-of-home advertising market in New Zealand. Firstly, there has been a shift towards more targeted and personalized advertising campaigns. Advertisers are increasingly using data and technology to deliver relevant and timely messages to consumers. This has led to the development of innovative advertising formats, such as digital billboards and interactive displays, which allow advertisers to tailor their messages to specific locations and times of day. Secondly, there has been a growing trend towards experiential advertising. Consumers are no longer satisfied with passive advertising messages – they want to be engaged and entertained. This has led to the rise of experiential advertising campaigns that create memorable and immersive brand experiences. For example, advertisers are using augmented reality and virtual reality technologies to create interactive and immersive advertising experiences that capture the attention of consumers and leave a lasting impression.
Local special circumstances: New Zealand's unique geography and population distribution also play a role in the development of the out-of-home advertising market. The country has a relatively small population, but it is spread out across a large land area. This presents challenges for advertisers who want to reach a wide audience. However, it also creates opportunities for out-of-home advertising, as it allows advertisers to target specific regions and communities with their messages. For example, advertisers can use billboards and signage in popular tourist destinations to reach both local residents and international visitors.
Underlying macroeconomic factors: The growth of the out-of-home advertising market in New Zealand is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to increased consumer spending and business investment. This has created a favorable business environment for advertisers, as businesses have more resources to allocate towards advertising and marketing campaigns. Additionally, the tourism industry in New Zealand has been booming, with record numbers of international visitors. This has created a lucrative market for advertisers who want to target tourists with their messages. In conclusion, the Out-of-Home Advertising market in New Zealand is experiencing growth due to changing customer preferences, the adoption of targeted and personalized advertising campaigns, the rise of experiential advertising, the unique geography and population distribution of the country, and underlying macroeconomic factors such as economic growth and a booming tourism industry.
Data coverage:
Data encompasses enterprises (B2B). Figures are based on out-of-home (OOH) advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers traditional out-of-home advertising (offline out-of-home advertisements) and digital out-of-home advertising (internet-connected out-of-home advertisements).Modeling approach:
Market size is determined by a combined top-down and bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party reports, and survey results from our primary research (e.g., Consumer Insights Global Survey) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, population, urban population, and internet infrastructure.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.
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