Lowe's Brings on Starcom for $300 Million Media Account

Lowe's has tapped Publicis Groupe's Starcom to handle its $300 million media account about a month after naming Jocelyn Wong as its new chief marketing officer. The retailer has been reviewing its media business since last fall. The account had been handled by Omnicom's OMD, which was not immediately available for comment. Lowe's spent $304.5 million on measured media in the U.S. last year, according to Kantar Media, but has struggled in its competition with rival Home Depot, the No. 1 home-improvement chain in the country. In the third quarter of 2016, Lowe's missed analyst expectations when it reported earnings of $379 million and sales of $15.7 billion, a 10% rise over the year-earlier period. Same-store sales were up 2.7% for the quarter but were not as strong as predicted. "Lowe's continues to explore the most compelling and efficient ways to reach consumers in a dynamic and ever-changing marketplace," Ms. Wong said in a statement. "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." Starcom said it would use data to drive returns on Lowe's marketing. "As Lowe's works to establish connections with its evolving customer base, Starcom is proud to bring our unique approach to determining what drives people to action by utilizing data, understanding their desire lines, and applying this knowledge to create real results for the Lowe's business," Starcom USA CEO Kathy Ring said in a statement. R3 managed the review, according to people with knowledge of the matter. The consulting group declined to comment.

Lowe's Brings on Starcom for $300 Million Media Account

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