“As we get more sophisticated and more connected, consumers have become more difficult to convert. Brand owners realise they have to spend more money.”

“The difficulty is the economy is growing at a much slower pace than we had forecast for as an industry, as a business, as any industry in this region. We were growing at a certain pace, building our capabilities and investing in our people and our structures, and suddenly we saw a shift in the speed of growth of the economy.”

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