How Covid-19 Has Affected Ad Spend For Office Supply Retailers
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There has been an incredible increase in the number of people working from home. With that in mind, we wanted to take a look at trends in ad spend for suppliers of office furniture. We dove into Lighthouse™ and looked at the keywords ‘office furniture’ and ‘office appliances’ to see how the shift to working from home has impacted ad spend trends.
- Large retailers like Office Depot and Wayfair, didn’t rely just on their name brand to get traffic, and increased spend in March by 32% and 24% respectively.
- Staples appeared to keep ad spend pretty stagnant, only increasing spend by 2% in March.
- Lesser-known names like supplyndash.com are trying to grab some of the new business opportunities in this space by increasing their ad spend by 109833%, while keeping their CPC under $1, with a CTR of 7%.
Next, we took a look at the Share of Voice for the Month of March on the term ‘office furniture’:
- Wayfair’s strategy has resulted in significant increases to their SOV
- Amazon’s SOV, which usually dominates, has essentially disappeared as of the end of March
- Office Depot has maintained the same SOV month-over-month, even though they had increased ad spend by 32% during the month of March.
PLA SOV on keyword group “office furniture” for last quarter:
- Wayfair is dominating SOV for PLAs as well
- Amazon becomes non-existent in SOV for PLAsin week 12 of 2020
- We can assume Walmart is spending the most money on PLAs as we didn’t see them show up in top 10 in search results or ad spend
- Target is more active with PLAs as well
Looking for similar data for your vertical? Reach out to our team for a look at the data.