Target tops ad spending among retailers
The most recent Leading National Advertisers annual report from Advertising Age shows Target posted the biggest increased in ad spending in 2010 among conventional retailers. The total amount the company spent increased 12% to $1.508 billion compared with $1.246 billion the prior year. That put the company 18th on the Ad Age list of the nation’s 100 largest advertisers. Only two retailers spent more than Target. Fifteenth ranked Sears Holdings spent $1.778 billion, 4.6% more than the prior year and 7th ranked Walmart spent $2,055 billion, 0.9% more than the prior year.
Target spent more on advertising than 19th ranked Macy’s, which invested $1.417 billion in marketing for a 2.3% increase. JCPenny also spent a lot on advertising and ranked 25th on the list. Its spending was essentially flat with the prior year at $1.317 billion.
Other retailers, their rank on the top 100 list and amount spent included Lowe’s (47, $778 million), Home Depot (49, $768 million), Best Buy (56, $666 million), Kroger (66, $533 million), Amazon (70, $486 million), Walgreen (72, $468 million), Gap (90, $413 million), CVS Caremark (95, $400 million) and Fry’s Electronics (99, $384 million).