The radio industry’s top advertiser is putting its media agency account in review.
According to a report by MediaPost, home-improvement behemoth Home Depot — which, according to Kantar Media, spent about $445 million on measured media last year — is currently with Carat. The Dentsu Aegis agency is expected to defend the account, which it has had since 2011.
Home Depot, the No. 1 radio advertiser last year based on spot volume, aired more than 2.6 million spots in 2019, according to Media Monitors, which tracks advertising in 85 markets. The company’s robust embrace of the medium is alive and well so far in 2020.
The media review comes against the backdrop of the company’s blowout second quarter, one that saw millions of stuck-at-home Americans spending generously on improving their living spaces and creating home offices.
Home Depot also made news this past week when it announced specifics of its holiday marketing plans. For the first time in its history, the retailer says it will turn Black Friday — that’s the day after Thanksgiving — into a two-month sales event, with discounts and special offers beginning in early November and going through December. The deals will be offered in-store and online.
“Say goodbye to one day of frenzied shopping and enjoy Black Friday savings all season long without the stress and crowds,” the company said in a statement on its website.
MediaPost notes that despite the economic blues that have infiltrated the U.S. retail sector in general, the agency review is coming at a time when players in the home-improvement space are crushing it as many Americans shelter in place. Aside from Home Depot 23% sales increase in the second quarter, its chief competitor, Lowe’s, saw its sales rise 30% — and its online sales spike a dramatic 135%.