{"id":9217,"date":"2023-09-04T11:07:15","date_gmt":"2023-09-04T10:07:15","guid":{"rendered":"https:\/\/www.vccp.com\/singapore\/news\/2023\/sep\/charles-vallance-in-campaign-crisis-countdown"},"modified":"2023-09-05T09:50:12","modified_gmt":"2023-09-05T08:50:12","slug":"charles-vallance-in-campaign-crisis-countdown","status":"publish","type":"news","link":"https:\/\/www.vccp.com\/singapore\/news\/2023\/sep\/charles-vallance-in-campaign-crisis-countdown","title":{"rendered":"Charles Vallance in Campaign &#8216;Crisis Countdown&#8217;"},"content":{"rendered":"<div class=\"lazyblock-text-full-width-20DwPs wp-block-lazyblock-text-full-width\"><section class=\"fullwidth text-center\" data-aos=\"fade-up\">\n  <div class=\"container\">\n    \n    \n    u003ch4 style=u0022text-align: leftu0022u003eFor his latest Campaign column, VCCP&#8217;s Chairman and Founding Partner Charles Vallance asks if we are beginning to see light at the end of the permacrisis tunnel.u003c\/h4u003enu003cp style=u0022text-align: leftu0022u003eu003cspan style=u0022font-weight: 400u0022u003eAre we beginning to see a chink of light at the end of the permacrisis tunnel?\u00a0u003c\/spanu003eu003c\/pu003enu003cp style=u0022text-align: leftu0022u003eu003cspan style=u0022font-weight: 400u0022u003eIt may be faint, and it may be flickering, but it looks like a slight glow is detectable. The last few weeks have seen a steady flow if not of exactly good news, then at least of less than exactly bad news.\u00a0u003c\/spanu003eu003c\/pu003enu003cp style=u0022text-align: leftu0022u003eu003cspan style=u0022font-weight: 400u0022u003eHeadline inflation fell from 7.9 percent in June to 6.8 percent in July. Still high. But lower, all the same. Even core inflation is beginning to subside, falling from 7.3 percent in May, to 6.9 percent in June and 6.8 percent in July.\u00a0u003c\/spanu003eu003c\/pu003enu003cp style=u0022text-align: leftu0022u003eu003cspan style=u0022font-weight: 400u0022u003eOn the demand side, wages grew by 7.8 percent in the April to June period, the highest annual growth rate since comparable records began in 2001, which means that wage inflation is now outstripping price inflation. According to GfK, savings confidence was at a 21-month high in June, which is perhaps not surprising given that, according to the Bank of England, household deposits stood at \u00a3340 billion, 23 percent higher than they were on the eve of the pandemic.\u00a0u003c\/spanu003eu003c\/pu003enu003cp style=u0022text-align: leftu0022u003eu003cspan style=u0022font-weight: 400u0022u003eIt is important, of course, that these positive statistics are seen in the context of more negative ones. For instance, after hitting a 50-year low, unemployment has edged up from 3.8 percent to 4.2 percent over recent months. Similarly, having climbed to a 17-month high in June, the GfK Consumer Confidence Index fell back by 6 points in July.\u00a0u003c\/spanu003eu003c\/pu003enu003cp style=u0022text-align: leftu0022u003eu003cspan style=u0022font-weight: 400u0022u003eMore importantly still, it is vital to understand that the effects of the cost of living crisis are very far from evenly distributed. Some groups in society have been less impacted, and have even been cushioned by what David Smith recently described in the Sunday Times as u0022involuntary savingsu0022. In a segmentation study commissioned by VCCP, these groups are classified as &#8216;Carefree Comfortables&#8217;, representing 33 percent of the population. For other groups, the impact has been severe, and they have faced serious financial difficulties ever since the spike in inflation began nearly two years ago. In the same study, these groups are classified as &#8216;Just Hanging On\u2019, representing 27 percent of the population and highlighting the polarised nature of the cost of living crisis and the severity of its effects across different social groupings.\u00a0u003c\/spanu003eu003c\/pu003enu003cp style=u0022text-align: leftu0022u003eu003cspan style=u0022font-weight: 400u0022u003eJust like the economic news, it is a mixed picture, with mixed signals. Some markets are doing very well, especially &#8216;revenge spending&#8217; categories such as holidays, flights and live events. Other categories are struggling, particularly those that are affected by high interest rates, such as house sales and new car purchases.\u00a0u003c\/spanu003eu003c\/pu003enu003cp style=u0022text-align: leftu0022u003eu003cspan style=u0022font-weight: 400u0022u003eThe big question, as we look ahead, is whether the recent trickle of good news will gain sufficient momentum for consumers to feel that the tide is turning, that they are nearing the end of the cost of living crisis. Renewed consumer confidence, coupled with high savings levels, falling inflation and rising wages could herald a bumper year for brands in 2024, certainly by comparison to the last three years.\u00a0u003c\/spanu003eu003c\/pu003enu003cp style=u0022text-align: leftu0022u003eu003cspan style=u0022font-weight: 400u0022u003eAccording to a recent survey by Citi Research, it would seem that the consensus within marketing departments is that we might well be turning the corner. They interviewed 175 CMO&#8217;s in 5 countries and found that the anticipated change in marketing budgets over the next 12 months was +10.5 percent. The UK CMO&#8217;s within the sample were even more bullish, expecting an 11.8 percent uplift, rising to 18.5 percent over the next 2-3 years.\u00a0u003c\/spanu003eu003c\/pu003enu003cp style=u0022text-align: leftu0022u003eu003cspan style=u0022font-weight: 400u0022u003eThese are encouraging findings because a brand is essentially a bet on the future. You invest in it now in order to maximise returns further down the line. If the light at the end of the tunnel is approaching, then the conclusion for CMO\u2019s is clear. Don\u2019t be too late in having the conversation with your CFO about the need to invest ahead of rather than behind the demand that is on the horizon.\u00a0u003c\/spanu003eu003c\/pu003enu003cp style=u0022text-align: leftu0022u003eu003cspan style=u0022font-weight: 400u0022u003eBrand predisposition takes time to build, but it is long-lasting and can be efficiently maintained once secured in the minds of consumers. As we head into the recovery, the best shape for marketing budgets will be front loaded so as to anticipate demand. In the famous words of Willie John McBride, there can be advantages to \u201cgetting your retaliation in first\u201d.\u00a0u003c\/spanu003eu003c\/pu003e\n  <\/div>\n<\/section><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":57,"template":"","categories":[191],"class_list":["post-9217","news","type-news","status-publish","hentry","category-agency-news"],"acf":{"hero_image":{"ID":9218,"id":9218,"title":"Charles Vallance Crisis Countdown","filename":"Charles-Vallance-Crisis-Countdown.png","filesize":2873081,"url":"https:\/\/www.vccp.com\/singapore\/wp-content\/uploads\/sites\/7\/2023\/09\/Charles-Vallance-Crisis-Countdown.png","link":"https:\/\/www.vccp.com\/singapore\/news\/2023\/sep\/charles-vallance-in-campaign-crisis-countdown\/attachment\/charles-vallance-crisis-countdown","alt":"","author":"57","description":"","caption":"","name":"charles-vallance-crisis-countdown","status":"inherit","uploaded_to":9217,"date":"2023-09-05 07:57:43","modified":"2023-09-05 07:57:43","menu_order":0,"mime_type":"image\/png","type":"image","subtype":"png","icon":"https:\/\/www.vccp.com\/singapore\/wp-includes\/images\/media\/default.png","width":1920,"height":1080,"sizes":{"thumbnail":"https:\/\/www.vccp.com\/singapore\/wp-content\/uploads\/sites\/7\/2023\/09\/Charles-Vallance-Crisis-Countdown-150x150.png","thumbnail-width":150,"thumbnail-height":150,"medium":"https:\/\/www.vccp.com\/singapore\/wp-content\/uploads\/sites\/7\/2023\/09\/Charles-Vallance-Crisis-Countdown-300x169.png","medium-width":300,"medium-height":169,"medium_large":"https:\/\/www.vccp.com\/singapore\/wp-content\/uploads\/sites\/7\/2023\/09\/Charles-Vallance-Crisis-Countdown-768x432.png","medium_large-width":640,"medium_large-height":360,"large":"https:\/\/www.vccp.com\/singapore\/wp-content\/uploads\/sites\/7\/2023\/09\/Charles-Vallance-Crisis-Countdown-1024x576.png","large-width":640,"large-height":360,"1536x1536":"https:\/\/www.vccp.com\/singapore\/wp-content\/uploads\/sites\/7\/2023\/09\/Charles-Vallance-Crisis-Countdown-1536x864.png","1536x1536-width":1536,"1536x1536-height":864,"2048x2048":"https:\/\/www.vccp.com\/singapore\/wp-content\/uploads\/sites\/7\/2023\/09\/Charles-Vallance-Crisis-Countdown.png","2048x2048-width":1920,"2048x2048-height":1080,"Header":"https:\/\/www.vccp.com\/singapore\/wp-content\/uploads\/sites\/7\/2023\/09\/Charles-Vallance-Crisis-Countdown-1920x720.png","Header-width":1920,"Header-height":720,"Wide":"https:\/\/www.vccp.com\/singapore\/wp-content\/uploads\/sites\/7\/2023\/09\/Charles-Vallance-Crisis-Countdown-1920x960.png","Wide-width":1920,"Wide-height":960,"Square":"https:\/\/www.vccp.com\/singapore\/wp-content\/uploads\/sites\/7\/2023\/09\/Charles-Vallance-Crisis-Countdown-768x768.png","Square-width":768,"Square-height":768,"Tall":"https:\/\/www.vccp.com\/singapore\/wp-content\/uploads\/sites\/7\/2023\/09\/Charles-Vallance-Crisis-Countdown-307x615.png","Tall-width":307,"Tall-height":615,"Mobile":"https:\/\/www.vccp.com\/singapore\/wp-content\/uploads\/sites\/7\/2023\/09\/Charles-Vallance-Crisis-Countdown-768x960.png","Mobile-width":768,"Mobile-height":960,"Facebook":"https:\/\/www.vccp.com\/singapore\/wp-content\/uploads\/sites\/7\/2023\/09\/Charles-Vallance-Crisis-Countdown-1200x630.png","Facebook-width":1200,"Facebook-height":630,"Grid-Item-Square":"https:\/\/www.vccp.com\/singapore\/wp-content\/uploads\/sites\/7\/2023\/09\/Charles-Vallance-Crisis-Countdown-768x768.png","Grid-Item-Square-width":768,"Grid-Item-Square-height":768,"Grid-Item-Wide":"https:\/\/www.vccp.com\/singapore\/wp-content\/uploads\/sites\/7\/2023\/09\/Charles-Vallance-Crisis-Countdown-768x384.png","Grid-Item-Wide-width":768,"Grid-Item-Wide-height":384,"Grid-Item-Tall":"https:\/\/www.vccp.com\/singapore\/wp-content\/uploads\/sites\/7\/2023\/09\/Charles-Vallance-Crisis-Countdown-307x615.png","Grid-Item-Tall-width":307,"Grid-Item-Tall-height":615}},"visible_on_home_page":["1"],"news_id":"191","author":{"ID":930,"post_author":"2","post_date":"2020-07-02 12:04:34","post_date_gmt":"2020-07-02 11:04:34","post_content":"","post_title":"Charles Vallance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"charles-vallance","to_ping":"","pinged":"","post_modified":"2020-08-18 16:44:43","post_modified_gmt":"2020-08-18 15:44:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.vccp.com\/singapore\/?post_type=people&#038;p=930","menu_order":0,"post_type":"people","post_mime_type":"","comment_count":"0","filter":"raw"},"meta-title":"Charles Vallance in Campaign ","meta-description":"For his latest Campaign column, Charles Vallance asks if we are beginning to see light at the end of the permacrisis tunnel.","related_content_title":"You may also like","relateditems":[{"relateditem":{"ID":9184,"post_author":"64","post_date":"2023-08-04 09:43:01","post_date_gmt":"2023-08-04 08:43:01","post_content":"<!-- wp:lazyblock\/two-column-text-quote-image {\"text-left\":\"\\u003cp\\u003e\\u003cb\\u003eVCCP Singapore\\u003c\/b\\u003e\\u003cspan style=\\u0022font-weight: 400\\u0022\\u003e has today unveiled two new super hires to strengthen its leadership team and propel the agency to its next stage of growth. Katya Obolensky joins the agency as Managing Director alongside new hire, Mark Teal who becomes its Chief Marketing Officer. Both hires start with immediate effect.\\u003c\/span\\u003e\\u003c\/p\\u003e\\n\\u003cp\\u003e\\u003cspan style=\\u0022font-weight: 400\\u0022\\u003eVCCP Singapore has experienced rapid growth since its launch in 2019 after winning founding client Shell. In its short time it has grown \\u003c\/span\\u003e\\u003cspan style=\\u0022font-weight: 400\\u0022\\u003eto 25 peopl\\u003c\/span\\u003e\\u003cspan style=\\u0022font-weight: 400\\u0022\\u003ee, created award-winning creative work for industry leaders such as Cathay Pacific, Deliveroo, Sun Life and Toll and was even crowned Independent agency of the year in 2020, in only its second year of operation.\u00a0\\u003c\/span\\u003e\\u003c\/p\\u003e\\n\\u003cp\\u003e\\u003cspan style=\\u0022font-weight: 400\\u0022\\u003eObolensky and Teal join to lead the agency\u2019s development, further strengthen the agency\u2019s presence\\u003c\/span\\u003e\\u003cspan style=\\u0022font-weight: 400\\u0022\\u003e in Singapore and drive growth into other Asian markets\\u003c\/span\\u003e\\u003cspan style=\\u0022font-weight: 400\\u0022\\u003e. As Managing Director, Obolensky will also ensure the creative shop continues to deliver outstanding creative work and exceptional client service.\\u003c\/span\\u003e\\u003c\/p\\u003e\\n\\u003cp\\u003e\\u003cspan style=\\u0022font-weight: 400\\u0022\\u003eKatya Obolensky most recently led the Virgin Media O2 account in VCCP\u2019s HQ in London, but joined the\u00a0 London arm as a Senior Account Director in 2015. Her impressive work and exceptional leadership skills have propelled her to a meteoric rise after only eight years with the agency. With over fifteen years of experience in the advertising industry, both in New York City and London, Obolensky brings a wealth of experience to the agency. Beginning her career at JWT NYC working on the Microsoft account, she then moved to London where she joined M\\u0026amp;C Saatchi and contributed to the success of various high-profile clients such as Hyundai, Currys\/PC World, Public Health England, and Havana Club alongside introducing several cultural initiatives which led to her taking on a global network role, where she played a pivotal role in nurturing international offices and securing international clients. \\u003c\/span\\u003e\\u003c\/p\\u003e\",\"text-right\":\"\\u003cp\\u003e\\u003cb\\u003eKatya Obolensky, Managing Director at VCCP Singapore\\u003c\/b\\u003e\\u003cspan style=\\u0022font-weight: 400\\u0022\\u003e added, \u201cI\u2019m absolutely thrilled to be bringing the challenger spirit of VCCP London to Singapore, and couldn\u2019t be more pleased to have Mark join us at such an exciting time in our growth story. We\u2019ve had an incredible few years and I\u2019m excited to take our Asia offering to its next stage \u201d\\u003c\/span\\u003e\\u003c\/p\\u003e\\n\\u003cp\\u003e\\u003cspan style=\\u0022font-weight: 400\\u0022\\u003eMark Teal is also a seasoned veteran in the realm of advertising and marketing technology, with a track record that spans over two decades. Teal joins from Wunderman Thompson where he was Head of Business Development and led on garnering marketing technology partnerships as well as leading creative and technology related pitches for the agency.\\u003c\/span\\u003e\\u003c\/p\\u003e\\n\\u003cp\\u003e\\u003cspan style=\\u0022font-weight: 400\\u0022\\u003ePrior to that, Mark was at Digitas as Business Development Director where he invested all of his time on new business with a focus on building Digitas\u2019s capabilities around CRM and CMS build projects. His role of Head Of Business Development in 2019 saw Mark grow the agency's headcount threefold.\\u003c\/span\\u003e\\u003c\/p\\u003e\\n\\u003cp\\u003e\\u003cb\\u003eJulian Douglas, International CEO at VCCP\\u003c\/b\\u003e\\u003cspan style=\\u0022font-weight: 400\\u0022\\u003e said, \u201cVCCP Singapore has seen solid momentum, bringing in clients Canon, Cathay Pacific, Toll and Deliveroo and welcoming several new superstar hires. Now with both Katya and Mark on board, we have the right leadership in place to propel the agency and Network even further as we reach the third phase of our global expansion plan which has APAC at the heart of it. I look forward to seeing their impact on our business.\u201d\\u003c\/span\\u003e\\u003c\/p\\u003e\\n\\u003cp\\u003e\\u003cspan style=\\u0022font-weight: 400\\u0022\\u003eVCCP Singapore is part of VCCP Group which employs more than 1,400+ people across its 11 offices in Auckland, London, New York, San Francisco, Salt Lake City, LA, Sydney, Shanghai, Madrid and Prague.\\u003c\/span\\u003e\\u003c\/p\\u003e\",\"blockId\":\"29wqIC\",\"blockUniqueClass\":\"lazyblock-two-column-text-quote-image-29wqIC\"} \/-->\n\n<!-- wp:lazyblock\/quote-full-width {\"quote\":\"It's a hugely exciting time to be joining VCCP Singapore. Our unique minimum-viable-network proposition has proven to be successful, I\u2019m keen to scale that further in a way that benefit our clients.\",\"quotee\":\"Mark Teal, Chief Marketing Officer at VCCP Singapore\",\"blockId\":\"Z2aYJ14\",\"blockUniqueClass\":\"lazyblock-quote-full-width-Z2aYJ14\"} \/-->","post_title":"VCCP Singapore supercharges leadership teams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vccp-singapore-supercharges-leadership-teams","to_ping":"","pinged":"","post_modified":"2023-08-07 09:19:16","post_modified_gmt":"2023-08-07 08:19:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.vccp.com\/singapore\/news\/2023\/aug\/vccp-singapore-supercharges-leadership-teams","menu_order":0,"post_type":"news","post_mime_type":"","comment_count":"0","filter":"raw"}},{"relateditem":{"ID":8654,"post_author":"3","post_date":"2019-09-04 10:06:08","post_date_gmt":"2019-09-04 09:06:08","post_content":"<!-- wp:lazyblock\/video {\"video-id\":\"357765945\",\"blockId\":\"ZonqYm\",\"blockUniqueClass\":\"lazyblock-video-ZonqYm\"} \/-->\n\n<!-- wp:lazyblock\/two-column-text-quote-image {\"text-right\":\"u003cpu003eThatu2019s why Cadbury Dairy Milk have launched a new brand campaign, 'Donate Your Words', in support of Age UK. For the first time ever the UKu2019s number one chocolate brand has removed the words from its iconic purple bars and is 'donating' them to the Charity to help alleviate loneliness amongst older people.u00a0u003c\/pu003enu003cpu003eThe limited edition bar will be sold in supermarkets nationwide with 30p from each bar going towards Age UK to help provide vital services and support when older people need it most.u003c\/pu003enu003cpu003eThe campaign will also encourage Brits to donate their words by pledging to reach out and have a chat with older people in their communities, supported through social media, TV show partnerships, retail pop up experiences and even a custom built Facebook chatbot conversational interface.u00a0u003c\/pu003e\",\"quote\":\"There's a crisis in the UK. 1.4 million older people struggle with loneliness. 225,000 often go a whole week without speaking to anyone.\",\"blockId\":\"CPf5Q\",\"blockUniqueClass\":\"lazyblock-two-column-text-quote-image-CPf5Q\"} \/-->\n\n<!-- wp:lazyblock\/image-full-width {\"image\":\"%7B%22alt%22:%22%22,%22title%22:%22ChatBot%20(1)%22,%22caption%22:%22%22,%22id%22:10720,%22link%22:%22https:\/\/www.vccp.com\/?attachment_id=10720%22,%22url%22:%22https:\/\/www.vccp.com\/wp-content\/uploads\/2020\/08\/ChatBot-1.jpg%22%7D\",\"blockId\":\"Z1eQbm4\",\"blockUniqueClass\":\"lazyblock-image-full-width-Z1eQbm4\"} \/-->\n\n<!-- wp:lazyblock\/quote-full-width {\"quote\":\"Weu2019re so proud to announce this partnership and to be supporting Age UK - itu2019s such an important charity that is really tackling the issue of loneliness. We are donating the words from our bars of Cadbury Dairy Milk and encouraging people up and down the country to donate theirs through small gestures that could really help change the lives of older people.\",\"quotee\":\"Laura Gray, Brand Manager at Mondelez\",\"blockId\":\"CSD4B\",\"blockUniqueClass\":\"lazyblock-quote-full-width-CSD4B\"} \/-->","post_title":"Donate Your Words","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"donate-your-words","to_ping":"","pinged":"","post_modified":"2020-08-27 08:37:11","post_modified_gmt":"2020-08-27 07:37:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.vccp.com\/singapore\/work\/%client_name%\/donate-your-words","menu_order":0,"post_type":"work","post_mime_type":"","comment_count":"0","filter":"raw"}},{"relateditem":{"ID":8741,"post_author":"2","post_date":"2020-05-25 10:52:38","post_date_gmt":"2020-05-25 09:52:38","post_content":"<!-- wp:lazyblock\/two-column-text-quote-image {\"text-right\":\"u003cpu003eThings become axiomatic because, broadly, they're true.u003cbr \\\/u003eu003cbr \\\/u003eA stitch in time frequently does save nine. Many a true word is, indeed, often spoken in jest. Clichu00e9s such as these stick because they are reliable, if imperfect, guides.u003cbr \\\/u003eu003cbr \\\/u003eOf the many clichu00e9s doing the rounds at the moment, one that seems to be bearing up well to overuse is the old saying that a crisis u0022brings out the best and worst in usu0022. Time and again, we see evidence of this essential truth u2013 a truth that applies equally to brands as it does to people.u003c\\\/pu003enu003cpu003eThere is a clue within the wording that provides an important protection against the biggest danger facing brands during the crisis, which is to overestimate how much Covid-19 will change the way your brand should behave. I say this because, although the virus is undoubtedly having a massive impact on behaviours and attitudes, these impacts don't alter the fundamentals for a brand.u003cbr \\\/u003eu003cbr \\\/u003ePerhaps the biggest fundamental to consider is that people don't really change, as Bill Bernbach memorably observed: u0022It took millions of years for man's instincts to develop. It will take millions more for them to even varyu2026 a communicator must be concerned with unchanging man, with his obsessive desire to survive, to be admired, to succeed, to love, to take care of his own.u0022u003c\\\/pu003e\",\"quote\":\"A stitch in time frequently does save nine. Many a true word is, indeed, often spoken in jest. Clichu00e9s such as these stick because they are reliable, if imperfect, guides.\",\"blockId\":\"ZaVGr\",\"blockUniqueClass\":\"lazyblock-two-column-text-quote-image-ZaVGr\"} \/-->\n\n<!-- wp:lazyblock\/two-column-side-by-side-text-inline-image-button 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