The current global COVID-19 pandemic has further caused another economic backlash as Coca-Cola Company, a major multinational beverage company has suspended indefinitely all commercial advertising of its brands. The company said the initiative became necessary in view of the exigencies and expediencies of the time, as it wants to stay focused on ensuring the safety and well-being of its people and communities.
Disclosing this on her LinkedIn page Manager, Public Affairs of the Coca-Cola Company in Nigeria, Mrs Amaka Onyemelukwe stated that the Cola manufacturing giant, its bottling partners and the Coca-Cola Foundation are donating over 120 million dollars to support the COVID-19 relief and response efforts in the affected communities.
According to her “from April and until further notice, we are putting commercial advertising of Coca-Cola and all our brands on hold. Our focus at this time is to ensure the safety and well being of our people and communities”. Speaking further, she said “in the immediate, we are working with our NGO partners to provide support towards COVID-19 communication, provision of protective kits and drinks for health workers. She stated that the company resolved to do this because it’s the right thing to do and because we know that by working together, we can make a difference.
The latest effort suspending forthwith all its brands advertising campaigns is the first in the history of the beverage giant as such an action was never contemplated by the company even during the First and Second World Wars. This stop order on the further brand advertising activities by Coca-Cola is also in line with steps already taken by some major advertisers locally and globally. Since the COVID-19 pandemic began and the lockdown aimed at containing the further spread of this deadly disease, some advertisers and brand owners have been compelled to put a stop to their brands the campaign as they have since diverted the bulk of their budgets to aids support and humanitarian services.
The latest initiative is a major setback to the integrated marketing communications sector where business activities and growth continues to plummet. Commenting on the development, Chief Executive Officer of Noah’s Ark, Mr Lanre Adisa said it is quite unfortunate a major spender like Coca-Cola has suspended its brands’ advertising campaigns saying that at the end of the day the action would have some implication on the total advertising spends by agencies in the year 2020.
Noting that some fast-moving consumer goods are still very active and recording sales activities with governments support in setting up trade points, Adisa opined that at the end of the day, some of the brands suspending their commercials may have done that with a view to switching over to the digital platform. He was of the view that the unfolding the economic situation does not look favourable to the traditional media. Nonetheless, he was of the view that economic activities may soon bounce back and allow the services sector to catch-up.
This news was Culled from Daily Times. Click here to view more.
