Nielsen’s annual ‘Trust in Advertising’ study shows that consumer trust in advertising is low. Public discussion of advertising tends to focus on its alleged contribution to societal problems. In response, the World Federation of Advertisers (WFA) launched in 2008 a global industry campaign to champion the value of advertising. The aim is to ensure that lawmakers and key opinion formers better understand the benefits of advertising and that these are better reflected in the policy making process.
The objective of the survey that covered 25,000 consumers across 50 countries was to provide a better understanding of consumer perceptions of the benefits of advertising. The study reveals that a vast majority of consumers see advertising as playing a key role in the economy: 80% of the world’s consumers believe that advertising helps create jobs and 72% say advertising contributes to economic growth. About 68% of the respondents believe it helps to reduce prices by stimulating competition. A clear majority of consumers across all markets also understand the importance of advertising and sponsorship as a critical source of funding for sports, the arts and the media.