Chris Williamson, the chief economist and author of the Institute of Practitioners in Advertising’s (IPA) Bellwether Report, has highlighted the trend.
He was talking in the wake of the Bellwether Report’s findings that the share of total marketing spend taken up by direct marketing has decreased by 0.1 per cent.
This was tempered by the statistic that direct marketing has increased in popularity overall.
“The Bellwether report shows an alarming rate of corporate retrenchment as the recession deepens,” Mr Williamson said.
He went on: “Disappointing sales in all sectors have also led companies to cut budgets for the year ahead for the first time since the survey began, suggesting there will be no quick return to growth for marketing spend.”
The IPA found that for 2009 marketing budgets were smaller than the previous year for the first time on their records.