America’s third largest retailer Kmart tossed its annual $100 million advertising budget into the ring on Wednesday. According to the 2,171-store chain, headquartered in Troy, Michigan, it has set an "aggressive schedule" for a general ad agency review – its first in five years – that begins immediately and will be completed by September 1.
Incumbent agency, Minneapolis-based Campbell Mithun Esty, will be pitching alongside an unknown number of contestants. In late July, the field will be narrowed to around five shops, each of which will make presentations to Kmart in mid-August. "While our review schedule is aggressive, we are confident that a number of outstanding agencies will welcome the opportunity to compete with speed for our account," said Larry Davis, Kmart’s senior vice president of advertising and marketing.
Kmart is eager to launch new promotional and brand-positioning ad campaigns in the fall, ahead of the holiday shopping season. "As we rebuild Kmart to put the wants and needs of our customers first, we need to look at new advertising and marketing efforts that will stand-out and support our strategic priorities," Davis explained.
News Source: CampaignLive (UK)