Back-to-school is the second-most important period for retailers after the winter holidays.
While most major retailers cut their back-to-school spending by almost 20%, high-end retailers Macy’s and Kohl’s reduced their advertising by about half in July. Excluding the two store chains, retailer ad spending fell only 8% from the previous year.
The report also revealed that TV saw the most significant boost in ad spending among eight major retailers with a 6% hike in July. Though Walmart reduced their TV spend with a 21% decrease from the last year, Amazon made the highest investment with a 44% hike.
According to MediaRadar, Macy and Kohl’s along with the Amazon and Ikea, are among the top eight retailers by estimated media spending. Kohl’s observed a 2.9% decline in sales in Q2 from the last year. Macy’s also reported a 0.3% dip in sales in the same period.
[3 minute read]