In a study of U.S. recessions, McGraw-Hill Research analyzed 600 companies from 1980-1985. The results showed that business-to-business Firms that Maintained or Increased their advertising expenditures during the 1981-1982 recession averaged significantly higher sales growth, both during the recession and for the following three years, than those that eliminated or decreased advertising. By 1985, sales of companies that were aggressive recession advertisers had risen 256% over those that didn't keep up their advertising.
In addition, a series of six studies conducted by the research firm of Meldrum & Fewsmith showed conclusively that advertising aggressively during Recessions not only increases sales but increases profits. This fact has held true for all post-World War II recessions studied by The American Business Press starting in 1949.