New categories emerge
While sales are declining for many categories who are big spenders on sports sponsorships, new categories are emerging that can take their place, especially brands that are prioritizing direct-to-consumer (note the restructuring of Nike), as consumption habits are rapidly changing. Read more HERE.
As consumer buying patterns shift, and pandemic pastimes change how people spend time, advertising/sponsorship spending is increasing in certain categories, such as grocery delivery, food delivery, meal/snack kits, grocery (in-store), office supplies, cleaning supplies (as noted in the Clorox example above). You might be losing some sponsors, but opportunities to capture new spending are plentiful. Read more HERE.