Home Depot Embarks on Media Agency Review Amid Record Sales Growth

Home Depot has put its media agency account in review, seeking a new partner to handle the retailer's estimated $445 million annual marketing budget. The move comes as Home Depot continues to adapt to the shifting retail landscape, with sales surging by over 23% in the second quarter due to consumers renovating and DIY projects while sheltering in place.

The current media agency, Carat, part of Dentsu Aegis, has held the account since 2011. Despite its long-standing relationship with Home Depot, the agency declined comment on the review, but is expected to defend its position. A client representative stated that 'We don't publicly discuss internal vendor matters, but it's standard procedure for us to review agencies from time to time, just as we do with all vendors.'

The review comes at a pivotal moment for retailers, many of which are struggling due to the pandemic. However, home improvement stores like Home Depot have benefited from the trend towards DIY projects and renovations.