Home Depot may have a new home for its media account in 2021, as the brand has launched a U.S. media agency review, sources with knowledge of the process confirmed to Adweek.
Home Depot has not yet responded to a request for comment.
Incumbent Carat, which was awarded Home Depot’s media business in 2011, is defending in the process, according to these sources. Carat has not yet responded to a request for comment.
Dallas-based independent agency The Richards Group is the brand’s longtime creative partner and retained creative agency of record duties for Home Depot following a 2008 review. Home Depot changed its tagline last December, moving from “More Saving. More Doing.” to “How doers get more done.”
The review is being managed by consultancy Roth Ryan Hayes and expected to conclude by the end of the year, according to sources with knowledge of the review.
Home Depot spent over $444 million on measured media last year and just over $153 million in the first six months of 2020, down from nearly $209 million over that period last year, according to Kantar Media.
The development follows news of the NBA launching a media review last week.