Banks and food firms drive industry's HK$19.7b sales last year
Advertisers in Hong Kong are expected to spend 5 per cent more this year compared with last year on increased marketing by property developers, according to a report.
Advertising spending rose 7.3 per cent to HK$19.7 billion last year, researcher admanGo said in the report yesterday. Growth will continue at about the same pace as more property developments coming to market prompt more ad campaigns.
HSBC was the biggest advertiser last year, raising its spending 31 per cent to HK$184 million, admanGo said.
The bank last year aggressively marketed personal finance products such as mortgages and private loans, advertising agents said.
Want Want, a snack food producer, spent 398 per cent more last year at HK$183 million to rank second, ahead of fast-food chain McDonald's, which cut spending 3 per cent to HK$154 million.
Actual spending growth last year after discounts was 3 per cent to 5 per cent, industry executives said.
