When it comes to jewelry store advertising during the weeks that led up to Valentine's Day, is television playing the part of the jilted lover? It seems that way, based on Katz Radio Group's analysis of Media Monitor radio and TV ad data in its “Sound Answers” blog.
Examining ads airing from Jan. 1 to Feb. 1 of this year, 70% of jewelry retailers advertising were doing so on AM/FM radio, with 59% focused only on radio, leaving 30% for just TV.
For radio, that's a significant statistic, seeing as Valentine's Day sales are expected to total $25.9 billion this year, with an average consumer spend of $193. “Jewelry is a top-five gift for Valentine's Day celebrants, so is no wonder that jewelry stores are hitting the airwaves,” Katz's report says. It notes that 2023's numbers are on track to repeat what occurred in 2022, “showing that jewelry retailers are just as in love with radio as ever.”
Breaking down Media Monitor's spot counts, Katz's analysis shows 488 different jewelry retailers having advertised during those five weeks. Of the top 25 stores, 20 are using radio and nine only radio, with only five retailers exclusive to broadcast and cable TV. “Jewelry stores understand the power of radio's unique assets as the number one reach medium, engaging consumers across demographics, and reaching prospects out-of-home, on-the-go, and during prime shopping hours,” the report says.
Katz's analysis, while giving AM/FM radio a clear advantage in Valentine's Day advertising for jewelry, suggests there remain opportunities on the medium. “Brands like The Jewelry Exchange, Zales, Kay, Pandora and Jared stand to benefit from establishing and increasing share of voice among their competitors,” it says, “and especially for those who have an established audio signature like Kay Jewelers' 'Every kiss begins with Kay,' radio can act as a natural extension to their TV campaigns.”