Kohl’s adds $30 million to holiday ad budget; most spent on digital, social media
Menomonee Falls, Wis. -- A Friday report in Advertising Age said that Kohl’s Corp. has added $30 million to its fourth quarter marketing spend in order to pad its efforts to garner holiday shopping dollars.
In 2010, the retailer spent $113 million on measured media in the fourth quarter, according to the report, and will spend about $143 million this year. Annually, Kohl’s spends $340 million.
“…We made the decision to invest more into marketing in the fourth quarter so we could take a real leadership position from a savings perspective for the holiday," said Kevin Mansell, Kohl's CEO, during an earnings call with analysts.
The additional marketing funds will increase broadcast, direct mail, digital and mobile media spend. Kohl’s is planning nine homepage takeovers on sites such as AOL, MSN and Yahoo. It is also expanding its paid-advertising efforts with Facebook and said it plans to use targeted online ads.