Lithuanian Businesses Lead Europe in Digital Advertising Investment
Vilnius, Lithuania – Lithuanian companies are outpacing their European counterparts in investment within the digital advertising space, according to a recent Eurostat study. Last year, 34 percent of Lithuanian businesses utilized digital advertising, substantially higher than the 23 percent in Latvia and Poland.
The Eurostat study revealed that keyword advertising – targeting ads based on user search queries – remains the most popular digital advertising method across the EU, employed by nearly 77 percent of companies investing in digital space. Geographic targeting, adapting ads to consumer location, was used by almost 45 percent, while advertising based on user’s prior online activity was utilized by approximately 42 percent.
Experts attribute Lithuania’s leadership to increasing business maturity and a growing awareness of the returns offered by digital solutions.”The decision of companies is increasingly geared towards a variety of digital investments,” stated a representative from the European Merchant Bank. “Our internal data shows that last year alone, the number of companies applying for funding and the number of digital investments attracted to us almost doubled.”
The favorable investment climate is further supported by increasing internet access within Lithuanian households, rising from 65 percent a decade ago to 90 percent currently, with a 15 percent increase in the online population over the last five years.
“Companies’ decision to invest more actively in digital advertising shows the excellent ability to adapt to changing consumer habits,” the European Merchant Bank representative added. “Statistics about growing internet access and the rapidly increasing popularity of e-commerce suggest that Lithuanian businesses are adept at identifying investments that generate returns.”
