Nearly two in three (65%) marketers have had their budgets cut in line with rising costs across the business they work for, while 69% believe brand switching is becoming more commonplace, according to new research from Ello Group.

The cost of living crisis has also resulted in consumers being forced to cut back, with the data confirming 40% have had to scale back their spending recently, due to their disposable income being reduced. Almost one in five (17%) have also switched...