Female Millennial, Gen-Z Opps: Lululemon to open 55 new stores in 2023 amid spend increases (Score 55)

Sales lead: Reach out to help this company promote its new locations & to score some of these extra digital ad dollars. 

• Lululemon recently announced its goal of opening 55 new stores in 2023.
• 23 of these stores are scheduled to open in Q3. 
• The company has also been ramping up digital ad spend this year.
• It has spent more YTD than it did during all of 2022. 

Target demographic: Gen-Z & millennial women

The company will likely:

• Continue expanding in 2024
• Keep ramping up digital ad spend
• Seek additional agency assistance

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

• YTD spend: Lululemon has not aired a national TV ad so far this year. 
• 2021-2022 spend: Full-year spend equaled $11.7k in 2022.
  • It did not allocate any budget toward this channel in 2021. 
• 2022 ad programming: It placed ads during You Bet Your Life With Jay Leno. 

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

• YTD spend: Lululemon spent around $16.6m on digital display ads YTD, a 69% increase from $9.8m spent in this channel during the same time period of 2022.
• YTD data: 1.5b impressions via YouTube (68%), Instagram (19%), Facebook (10%), and desktop display (3%).
• 2021-2022 spend: Full-year spend fell 27% from $19m in 2021 to $13.8m in 2022. 
• Ad location: It placed 99% of these ads directly onto sites such as youtube.com, instagram.com, facebook.com, yahoo.com, and msn.com. It placed 1% of these ads through an unknown channel onto sites such as yahoo.com, youtube.com, chegg.com, wfla.com, and boingboing.net. 

Additional channel insights  

• Vivvix: Lululemon also invests in OOH and local broadcast.

Agency analysis:

• Opportunity: I recommend offering media or social assistance for the best chance of picking up some of Lululemon's business. 
• Current roster:
  • Droga5: creative AOR
  • Edelman Group: PR
  • JAR Audio: digital

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