Week of January 30, 2023
This week MediaRadar reviewed advertising from the week of January 16, 2023 and compared it to ads that ran the week of January 9, 2023.
This article discusses four categories, but we also share weekly, monthly, and quarterly ad shifts in investment among all segments here. (Don’t worry, it’s ungated)
Here are some key weekly takeaways from advertising shifts that took place.
In reviewing MediaRadar’s data sample of Finance advertisers, we saw an increase of 5% or more in ad spend week-over-week (WoW). This category includes advertising from financial institutions, insurance, and real estate companies, with weekly investment exceeding $225 million. Financial institutions alone invested over $120 million, representing a 4% WoW increase in ad spend. Within this segment, we saw increases in both banking and tax services, with both up over 35% WoW. Advertising among tax service companies, such as HR Block and TurboTax, typically peaks this time of year as Americans prepare their taxes. MediaRadar also reports an 8% WoW increase in advertising among insurance brands and a 9% WoW increase in real estate advertising.
Advertising for Pets jumped nearly 40% WoW to over $8 million. Brands advertising pet food and treats saw a 40% WoW increase in ad investment. Over the last five years, pet care products have been the fastest-growing segment in the industry. This week, we saw pet care products increase their ad investment by over 25% WoW.
Retail advertising decreased by more than 10% WoW to around $185 million, which is not surprising given the tightening of budgets after the holiday rush. Six segments drove 74% of the total retail ad spend for the week, but two-thirds of those segments decreased their ad investment WoW. Food and drug retailers increased 2% WoW, while advertising for home furnishings was up 1% WoW. Apparel and accessories retailers and online department stores both reduced ad spend by over 25% WoW. Online marketplaces (such as Alibaba, Etsy, and Mercari) decreased by 15% WoW, and large retailers like Target and Walmart had a modest decrease of 2% WoW.
Home Goods advertisers decreased their ad investment by over 50% WoW to $27 million. Both housewares (including items such as toilet paper and cookware) and household maintenance products saw over 70% WoW reductions in ad spend. Furniture and decor products, like candles, couches, and mattresses, reduced their ad spend by less than 15% WoW to $14 million.