La-Z-Boy to return to pre-Covid spending levels, launch fall marketing push (Score 26)

Sales lead: Get in touch now to offer ad space ahead of the fall campaign. 

• La-Z-Boy disclosed during its recent fiscal Q4 2023 earnings report (ended April 2023) that it plans on returning to pre-Covid spending levels.
• The company will also launch a brand campaign this year.
• The push will focus on reaching a broader audience. 
• We told you about La-Z-Boy's new agency partner & rebranding project earlier in June. 

In other news: 

• La-Z-Boy is currently expanding as it plans on opening nine new locations in fiscal 2024.
• It is also remodeling existing locations to improve the customer experience. 
• The company is acquiring independent furniture stores as well. 

Target demographic: Female Gen-X & millennials

The company will likely:

• Continue improving the customer experience
• Spend more on marketing than it has since before the pandemic
• Make additional agency changes (recent agency appointment)

Broadcast insights (TV ad creative spend, effectiveness, impressions, and performance)

• YTD spend: La-Z-Boy spent about $4.8m on national TV ads YTD, a slight (4%) decrease from $5m spent in this channel during the same time period of 2022.  
• 2021-2022 spend: Full-year spend decreased by 20% from $17.8m in 2021 to $14.2m in 2022. 
• Ad programming: It placed ads during programming such as The View, The Price Is Right, General Hospital, GMA3: What You Need to Know, and The Young and the Restless. 

Digital and social insights (digital ad spend, effectiveness, impressions, and performance)

• YTD spend: La-Z-Boy spent nearly $1.4m on digital display ads YTD, a significant increase from $606.9k spent in this channel during the same time period of 2022. 
• YTD data: 142.2m impressions via Facebook (38%), YouTube (30%), desktop video (13%), Instagram (9%), desktop display (7%), and mobile display (2%). 
• 2021-2022 spend: Full-year spend increased by 24% from $1.7m in 2021 to $2.1m in 2022. 
• Ad location: It placed 88% of these ads directly onto sites such as facebook.com, youtube.com, instagram.com, abcactionnews.com, and twitch.tv. It placed 12% of these ads indirectly through AppNexus and Quantcast onto sites such as listenonrepeat.com, redfin.com, abcactionnews.com, doityourself.com, and yahoo.com. 

Additional channel insights  

• Vivvix: La-Z-Boy also utilizes OOH, print, radio, and local broadcast.  
  • It holds media planning discussions in Q1, and it buys during Q4. 

Agency analysis:

• Opportunity: You may be able to pick up some of La-Z-Boy's business, so contact its DMs for more information. 
• Current roster:
  • RPA: creative & media AOR
  • Zimmerman Advertising: media & digital
  • Colle McVoy: creative & PR

Insight Sources: Broadcast insights estimated by iSpot; digital spend insights estimated by Pathmatics; additional channel insights estimated by Vivvix.