Summer 2024 is shaping up to be much better for radio advertising than the year before, as Media Monitors’ chart of the week’s top national advertisers shows signs of continued health across the industry as back-to-school shopping ads ramp up.
For the week of July 15 through 21, Progressive Insurance again led the pack, airing 66,129 spots. Lowe’s finished second with 45,904 ads, even as the ad battle with home improvement rival The Home Depot fizzles out until Labor Day. The Home Depot dropped out of the top ten after holding third the week prior.
In its stead, language learning app Babbel stepped up one place to take the third spot with 44,060 spots. Wendy’s also climbed one step into fourth place with 36,324 ads. Lastly, Grainger rounds out the top five by broadcasting 32,871 spots.
Worth noting: this week’s list carried its first sign that back-to-school revenue is headed radio’s way: Target climbed from 100 to 9, while Macy’s jumped from 22 to 8. A Deloitte survey found 66% of families plan to complete their shopping by the end of July, up from 59% last year.
Brands have more reason this year to fight to get their deals and products in front of consumers: spending on back-to-school items is expected to average $586 per child this year, a slight decrease from $597 in 2023. Lower expenditures are noted particularly among low- and middle-income families, with spending reductions of 4% and 9% respectively.
Combined with the promise of new money from a radically changed political season, these patterns forecast a promising continuation of steady engagement from advertisers across a wide range of sectors as fall approaches.
