Nurko says that while the global financial crisis (GFC) originated in the financial sector, it took a while to be felt by some sectors, and that some regions – such as Asia – were mildly affected compared to the West.
“We saw a mindset shift, leading to austerity and a loss of faith and confidence,” says Nurko. “People became more circumspect about companies and brands and decisions, often postponing them rather than undertaking investments – whether that’s in marketing or in (other) expenditure.”
Post GFC, Nurko says there is a new light being shed on the world, an almost bi-polar light, dividing it between the old world and the new. He says companies looking to invest are faced with the choice between an older, ageing, very marketing-savvy audience with limited growth potential, or the youthful, dynamic optimistic growth potential afforded by Latin American and Asia.
Nurko also compares current times to the original Golden Age of advertising, as those were originally driven by the (then new medium) TV and emerging middle classes in the West, so growth is now being driven by new media and consumers in emerging and developing markets.
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