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DIY Media Opps: Home Depot increases digital display ad spend to reach consumers stuck at home

Most Home Depot (HD) locations remained open despite the global pandemic, albeit with extra safety and cleanliness precautions. The company increased its digital display ad spend in order to reach more customers stuck at home; stay-at-home regulations gave people more free time than ever to dedicate to DIY projects.

According to HD's Q1 2020 earnings call, eCommerce rose to around 17% of sales, almost double what it ended 2019 at. While eCommerce will remain an important channel, the company will also continue to primarily focus on its retail activity.

According to iSpot, the company spent around $85.8m on national TV ads YTD, down 4% from $89m during the same time period of 2019. Full-year spend equaled $245.1m in 2019 and $209.6m in 2018. It targets Gen-X and millennials with a slight female skew via this channel (see targeting right). 

HD targets men and women alike, but especially contractors and DIYers; the increase in digital display ad spend leads us to believe it's particularly trying to reach Gen-Z and millennials. Thus, you may additionally want to offer paid social, podcast and/or OTT ad space. The company also utilizes local advertising methods such as print, radio, broadcast and OOH. Its main competitor is Lowe's.

Agency & martech readers - We see no major signs of upcoming reviews, so prospect elsewhere for the time being. Winmo states HD works with Carat (media buying and planning).