Among home improvement retailers, the Home Depot typically towers in the category, often roosting in radio’s top five based on spot volume. But in the latest Media Monitors tally there is a changing of the guard with Lowe’s suddenly topping its rival, airing 48,981 spots for the week of July 12-18, putting it at No. 3 for its highest ranking since September 2020. The Home Depot, meanwhile, falls to No. 32 with 16,310 spot occurrences.
In its most recent fourth quarter, Lowe’s reported a 29% increase in same-store sales, Ad Age reported. It and other home improvement chains are looking to maintain growth trends spawned during last year’s consumer focus on home improvement with marketing a key part of their strategy.
Lowe’s isn’t the only advertiser to elevate its radio ranking. Powered by 35,348 occurrences, Bank of America rises to its highest position since April, moving 10-6. While the financial institution is often found in the top 10 radio users, its latest count falls short of the 44,939 spots aired for the week of Jan. 25-31, when it was radio’s No. 5 advertiser in the 110 markets measured by Media Monitors.
Tracking Bank of America’s use of radio shows it has made AM/FM a major part of its media mix after minimal investment in the past. After testing the waters with 5,647 spots for the week of Oct 12-18, 2020, Bank of America tripled its allocation one week later, putting it at No. 36 on the list. By early November it was radio’s biggest client based on spot volume, perched in the top spot for two consecutive weeks (Nov. 2-8 and Nov. 9-15). It has remained a top radio advertiser ever since.
Moving to the Fast Casual-Quick Service Restaurants category shows McDonald’s upping its allocation to 30,843 spots, moving 12-9 for its highest chart position since March 16-22, 2020. In 2019 McDonald’s was the No. 4 radio advertiser, No. 13 in 2020 and has been in radio’s top 15 for most of 2021 so far.
Also making a major move on the new list is Peloton, which jumps 17-10 with 30,587 spots. Peloton was the third largest cable TV advertiser of 2020 but largely a no-show on radio. The fitness company, which has enlisted Olympic athletes to tap into Tokyo Olympics fever, debuted on the Media Monitors tally the week of May 24-30 at No. 24 with 22,734 spots. By the week of May 31- June 6 it had nearly doubled its spot count to 43,834 on-air occurrences.
For the week of July 12-18, 2021, the top 10 on the Media Monitors compilation are iHeartRadio at 1, Progressive at 2, Lowe’s at 3, Indeed at 4, GEICO at 5, Bank of America at 6, iHeart’s “Murder In Illinois” podcast at 7, Babbel at 8, McDonald’s at 9 and Peloton at 10.