BIA/Kelsey: Local Retail Ad Spending To Exceed $26.8B Nationwide In 2013
September 12, 2012
According to BIA/Kelsey's Media Ad View reports, retail spending on local advertising will exceed $26.8 billion nationwide in 2013, $4.2 billion of which will be spent on online media. Rounding out the top five business categories spending on local advertising across the country in 2013 are automotive, general services, restaurants and financial/insurance.
Media Ad View estimates for total local media spending in 2013 for each of these categories are as follows: Retail - $26.8 billion, Automotive - $16.9 billion, General Services - $15.3 billion, Restaurants - $14 billion and Financial/Insurance - $13.9 billion. For total online media spending in 2013, BIA/Kelsey predicts: Retail - $4.2 billion, Automotive - $2.7 billion, General Services - $3.1 billion, Restaurants - $2.3 billion and Financial/Insurance - $2.7 billion.
"The migration to digital media is growing in local markets across the country, with a number of business categories leading the way," said Mark Fratrik, VP/Chief Economist, BIA/Kelsey. "Within the online segment, video display is seeing some of the greatest gains, with the top five business categories expected to account for an increase of $232 million in local spending nationwide in 2013 alone."