While it initially appeared to be positioning for a repeat Q4 power play, Pfizer has disappeared from the ranks of radio’s top national advertisers. Fortunately, the market remains steady, especially as brands prepare for a competitive holiday season.
Despite a shorter holiday shopping season due to a late Thanksgiving, Americans are still projected to spend at record levels.
The National Retail Federation forecasts that holiday spending in the US will grow between 2.5% and 3.5% compared to last year. This would bring total holiday sales to between $979.5 billion and $989 billion in November and December, up from $955.6 billion in 2023. The prediction aligns with NRF’s annual retail sales forecast, which also anticipates a 2.5% to 3.5% increase over 2023.
Online sales continue to outpace overall retail growth, with NRF estimating an 8% to 9% rise in nonstore holiday sales this year, reaching between $295.1 billion and $297.9 billion, compared to $273.3 billion in 2023.
NRF President Matthew Shay said, “The economy remains fundamentally healthy and continues to maintain its momentum heading into the final months of the year. The winter holidays are an important tradition to American families, and their capacity to spend will continue to be supported by a strong job market and wage growth.”
From October 14 to October 20, 2024, the top five most-aired radio spots in monitored markets were dominated by a mix of insurance, health, retail, and financial services brands, according to Media Monitors. Progressive retained the top spot, continuing its strong radio presence.
The rest of the top three remained unchanged from last week, with Vicks in second and The Home Depot in third. Discover leaped from off the list entirely into the top five, with Macy’s rebounding from 20th to 5th, signaling a notable ramp-up in marketing, likely in preparation for upcoming holiday shopping.
