Current Trends in Outdoor – Available Impressions are Down
By Laura DiCaprio
With people taking social distancing precautions and many areas enforcing travel bans and/or restrictions, it’s no surprise that summertime travel is down this year. This, combined with a solid number of people still working from home, has dramatically cut down on the number of people on the roadways. Due to this reduced travel, available out-of-home (OOH) impressions are also down. So what does this mean for your outdoor media plan for the remainder of 2020? Below are some recent stats that better explain the current state of OOH.
- Summer travel is down; 71% of Americans report that they might skip a Summer Vacation in 2020. National hotel occupancy is also down YOY; the occupancy rate this year was only 43.9% in June 2020, compared to 74.5% in 2019.
- OOH spending is down April – June 2020 ($36.7MM), as compared to the same months in 2019 ($108MM). However, June 2020 numbers saw a bounce back of 23%, indicating that the category will recover.
OOH is expected to see a 21.7% decline in sales this year; it was originally projected to see an increase of 5.9%.
- With fewer commuters and Summer travelers on the road, OOH mediums will serve fewer impressions. This means rates should be negotiated lower to compensate for the lost impressions.
- The number of commuters on the road will coincide with the State’s quarantine regulations. Since this is unpredictable, outdoor plans should be flexible and not booked months in advance, to avoid revisions.
- Available inventory might increase due to the lack of spending with this medium. Wahl Media will keep an eye on prime placements and alert clients of their availability.