Lowe's has tapped Publicis Groupe's Starcom handle media planning and buying duties after a review that began last fall.
The company spent an estimated $370 million on ads in 2015, and around the same amount from January through November of last year, according to Kantar Media. Omnicom’s PHD and WPP’s Mindshare also participated in the review. Incumbent OMD did not.
The firm hired a new CMO, Jocelyn Wong, while the review was in progress. She issued this statement today: “Lowe’s continues to explore the most compelling and efficient ways to reach consumers in a dynamic and ever-changing marketplace. We were impressed with Starcom’s capabilities and their digital first, omnichannel approach to media and believe they will help us remain innovative and well-positioned to connect with home improvement consumers.”
The home improvement chain has been struggling lately. Earlier this year it confirmed that it would lay off “less than 1%” of its 285,000-person workforce as part of a plan to rejigger the staffing model in its stores. The rejiggering is designed to boost productivity and increase staff-to-customer facetime.
The company missed earnings and revenue expectations from analysts in the third quarter of 2016 and the firm acknowledged at the time that store traffic was down. It is scheduled to release full-year 2016 numbers next week.