2020 BIA Advisory Services All Rights Reserved 1

© 2020 BIA Advisory Services. All Rights Reserved. | 1

Report Overview Detailed analysis for successful local selling § To offer comprehensive insights into local selling opportunities for the remainder of 2020 and next year, this report dives into five key verticals: 1. 2. 3. 4. 5. Home Improvement Legal Services Financial Services Real Estate Retail For your specific local market forecasts, login to BIA ADVantage. § For each vertical, you’ll get: • • Vertical Forecast with media analysis Spending in Top 10 Markets 2020 ($000 s) Selling Insights By Sub-Vertical Identification of media where consumers have reacted to ads in the last 30 days © 2020 BIA Advisory Services. All Rights Reserved. | 2

Home Improvement Vertical Forecast Direct Mail has the largest share in 2020 but will decline leaving opportunity for others. Mobile is on a steep growth curve. We’re seeing some digital spending shifting away from video display into search and classified verticals through 2024. Home Centers account for well over a third of media spending. Plumbers and HVAC keep their spending at about a fifth of total spending. Together, they account for over half of all home improvement spending. Floor Covering and Household Appliance Stores show the most growth. Home Improvement Forecasted $7. 05 B in 2020 to $8. 2 B in 2024 (000 s) 2019 2020 2021 % Growth 2020 -2021 Home Centers Plumbers and HVAC Other Home Building Services Lawn and Garden Equipment and Supplies Stores Floor Covering Stores Hardware Stores Household Appliance Stores Paint and Wallpaper Stores Maintenance Services TOTAL $2, 993, 572 $1, 453, 833 $869, 820 $2, 642, 616 $1, 397, 652 $836, 207 $2, 898, 241 $1, 483, 971 $887, 851 9. 7% 6. 2% $731, 441 $532, 778 $428, 345 $319, 778 $223, 406 $153, 252 $7, 706, 224 $660, 075 $489, 639 $384, 285 $289, 208 $199, 975 $147, 744 $7, 047, 402 $728, 752 $559, 149 $426, 990 $331, 203 $223, 161 $155, 668 $7, 694, 985 10. 4% 14. 2% 11. 1% 14. 5% 11. 6% 5. 4% 9. 2% © 2020 BIA Advisory Services. All Rights Reserved. | 3

Home Improvement Spending in Top 10 Markets 2020 ($000 s) Rank 1 2 3 4 5 6 7 8 9 10 TV Market New York, NY Los Angeles, CA Chicago, IL Philadelphia, PA Dallas-Ft. Worth, TX San Francisco. Oakland-San Jose, CA Boston, MA Washington, DC Atlanta, GA Houston, TX AVERAGE Home Centers Plumbers and HVAC Lawn and Garden Equipment and Supplies Stores 6. 75 7. 10 8. 59 8. 19 7. 21 2. 74 4. 15 3. 26 5. 06 4. 64 1. 07 0. 86 1. 49 1. 76 1. 64 2. 48 1. 95 3. 03 2. 78 1. 28 1. 35 1. 43 1. 36 1. 39 1. 06 0. 82 1. 32 1. 06 0. 60 1. 74 0. 80 1. 41 0. 67 0. 84 0. 66 0. 54 0. 53 0. 67 0. 74 0. 37 0. 34 0. 49 0. 45 0. 28 17. 31 18. 42 20. 49 22. 24 20. 12 7. 49 5. 74 1. 61 3. 43 1. 47 2. 23 1. 19 0. 80 0. 25 24. 22 9. 66 9. 57 8. 27 7. 50 8. 03 5. 29 3. 74 3. 72 7. 29 4. 56 1. 80 2. 10 1. 49 1. 54 3. 17 2. 24 2. 22 4. 36 2. 73 1. 57 1. 88 1. 47 0. 90 1. 41 1. 42 0. 97 1. 05 0. 85 1. 14 1. 24 0. 78 0. 72 1. 10 1. 05 0. 70 0. 69 0. 56 0. 66 0. 35 0. 23 0. 33 25. 20 22. 23 19. 98 24. 33 21. 46 Other Home Building Services Floor Covering Stores Hardware Stores Household Paint and Maint. Appliance Wallpaper Services Stores Total © 2020 BIA Advisory Services. All Rights Reserved. | 4

Home Improvement- Selling Insights By Sub-Vertical Landscaping • Homeowners spend $44. 7 billion on lawn and landscape services with single family homes account for over half of & Lawn Care sales. • Off-season advertising is important to drive revenue year-round. Winter-related services, such as snow and ice removal or in the south pruning and winter lawn maintenance should be promoted. • Average Spend on Advertising: 5% of sales, co-op: $3, 344 Home Security & Locksmiths • 70% of home security & locksmiths do their advertising in-house. Retailers are facing competition from low cost competitors as well as consumers who DIY professional systems like Nest. • Demand for low cost security and self-monitoring video continues to grow as more homeowners use mobile apps (smart home) and home automation. • Average Spend on Advertising: 1. 2% of sales, co-op: $1, 838 • Larger contractors are more likely to use traditional media and as smaller, younger companies are more likely to use Specialty new and free media. Trade Contractors • Majority of their work comes through referrals from insurance adjusters and contractors. 75% of work is for repairs/replacement. Customers are attracted to the convenience of a one-stop source. Average Spend on Advertising: 0. 1%-. 5% of sales HVAC • HVAC businesses are heavy users of traditional media. • More HVAC contractors are offering home energy audits and promoting clean air systems as a way to boost revenue and their client base. Maintenance and replacement represent the biggest opportunity, followed by retrofit and renovation. Average Spend on Advertising: 0. 7% of sales © 2020 BIA Advisory Services. All Rights Reserved. | 5

Home Improvement- Selling Insights By Sub-Vertical Home Improvement • Retailers are ramping up their omnichannel strategies to compete with digital pure plays such as Amazon and Overstock through utilizing social media and videos. Retail • Online tools like 360 -degree views and product videos are popular, as many consumers begin researching items online but prefer to view these products in-person before committing. 2% of consumers say they enjoy seeing online videos for household appliances. • New and improved corporate spaces in demand due to the changing workplace and office environments along with work from home office furniture. There's major opportunity to sell office furniture that ties into the home, as working-from-home has grown by 140% since 2005. • Millennials and downsizing baby boomers are expected to be lucrative markets for these retailers. 83% of millennials and 85% of Generation Z purchase new furniture or storage solutions after renovating, compared with 65% of baby boomers. Average Spend on Advertising: Furniture Stores 4. 3% of sales, co-op $4, 439 Home Furnishing Stores co-op $2, 681 Appliance Stores 1. 9% of sales, co-op $4, 473 Building Materials, Hardware and Garden Stores 1. 1% of sales, co-op $5, 597 © 2020 BIA Advisory Services. All Rights Reserved. | 6

Home Improvement– Where Consumers are Responding to Ads Handy Man Shoppers That Responded to an Ad in the Last 30 Days Ad on: Audience All US Difference Direct Mail 39. 2% 31. 4% +25% Search Ad 33. 4% 28% +19% Television (over-the-air, online, mobile or tablet) 33. 0% 29. 6% +11% Email 32. 3% 25. 3% +28% Ad on a social network 30. 9% 27. 9% +11% Mobile smartphone app or text message 29. 2% 26. 4% +11% Newspaper (print, online, mobile or tablet) 26. 5% 19. 5% +36% Display ad 24. 9% 20. 4% +22% Radio (over-the-air, online, mobile or tablet) 23. 5% 19. 3% +22% Magazine (print, online, mobile or on tablet) 21. 7% 16. 8% +29% Out of Doors 17. 3% 14. 2% +22% Pre-roll video ads (the video that plays before the video you 17. 3% 15. 5% +12% want to watch) Directory (print or online) 17. 1% 13. 2% +30% © 2020 BIA Advisory Services. All Rights Reserved. | 7

Legal Services Vertical Forecast TV is growing, Cable is dropping, while digital OTT and mobile show growth in 2021 and through 2024. Most of the spending growth by Legal Services businesses will occur in digital media. TV OTT, Mobile and Online Search have the most aggressive growth in the next 4 years. TV and direct mail are the leading in ad share for traditional with TV a powerful reach medium. Legal Services clients typically are in-market for services where reach matters. Direct mail will take a large decline in the next four years. Within the digital media categories, the majority of 2020 ad buying by Legal Services will be for Video Display (34. 1 percent) and Classified Verticals (31. 6 percent). Search comes in with 22. 2 percent of the budget. Twothirds of digital spending goes to Video Display and Classified Listings ad inventory. Only a fifth goes to Search. Legal Services Forecasted $4. 4 B in 2020 to $5. 7 B in 2024 (000 s) 2019 $4, 501, 097 2020 $4, 398, 478 2021 $4, 827, 250 % Growth 2020 -2021 9. 7% © 2020 BIA Advisory Services. All Rights Reserved. | 8

Legal Services Spending in Top 10 Markets 2020 ($000 s) Rank TV Market Per Capita Spend 1 New York, NY $24. 29 2 Los Angeles, CA $13. 52 3 Chicago, IL $17. 18 4 Philadelphia, PA $15. 83 5 Dallas-Ft. Worth, TX $10. 39 6 San Francisco-Oakland-San Jose, CA $13. 40 7 Boston, MA $14. 03 8 Washington, DC $14. 22 9 Atlanta, GA $10. 22 10 Houston, TX $6. 12 Average $13. 92 © 2020 BIA Advisory Services. All Rights Reserved. | 9

Legal Services- Selling Insights Legal Services • Solo practitioners make up 48% of the private-practice lawyers, according to the American Bar Foundation. With the down economy many firms are merging to better compete. Small firms also face competition from low cost, no frills online legal services for consumer and small business customers. • There's opportunity for lawyers who specialize in niche categories, as industry professionals predict clients will increasingly seek firms with a specific specialty. Industry professionals expect an increase in demand for estate and trust planning, personal injury attorneys and employment attorneys. • Events are increasingly popular among these businesses. An industry survey found that firmhosted events (45%) are the second most effective activity for developing new business, just behind client meetings (54%). Average Spend on Advertising: 2. 3% of sales Average $48, 000 in ad spend Firms with 2 to 99 lawyers had an average annual marketing and business development budget (excluding staffing) of $505, 000 for large firms over 300 lawyers $5. 4 million. © 2020 BIA Advisory Services. All Rights Reserved. | 10

Legal Services– Where Consumers are Responding to Ads Legal Consumers That Responded to an Ad in the Last 30 Days Ad on Audience All US Difference Magazine (print, online, mobile or on tablet) 27. 4% 16. 8% +63% Directory (print, online, mobile or tablet) Pre-roll video ads Newspaper (print, online, mobile or tablet) 21. 4% 24. 8% 30. 4% 13. 2% 15. 5% 19. 5% +62% +60% +56% Out of Doors 21. 9% 14. 2% +54% Radio (over-the-air, online, mobile or tablet) Search ads Display ads Email Mobile smartphone app or text message Ad on a social network 27. 6% 39. 5% 28. 3% 34. 9% 36% 37% 19. 3% 28% 20. 4% 25. 3% 26. 4% 27. 9% +43% +41% +39% +38% +36% +33% 37% 29. 6% +25% 38. 2% 31. 4% +22% Television (over-the-air, online, mobile or tablet) Direct Mail © 2020 BIA Advisory Services. All Rights Reserved. | 11

Financial Services Vertical Forecast Direct Mail has the largest share in 2020 but will decline leaving opportunity for others. Online and mobile are on steep growth curves. We’re seeing some digital spending shifting away from video display into search and classified verticals. Auto and Direct Property Insurance account for 22% the largest spend of this group. Investment and Retirement Advice is next (20%) followed by Commercial Banking (19%). Together, these three sub-verticals account for nearly two-thirds of all Financial Services spending. Saving/Credit Institutions and Other Loan Services show the most growth. Financial Services Forecasted $17 B for 2020 to $21. 1 B in 2024 (000 s) % Growth 2020 -2021 2019 2020 2021 Auto & Direct Property Insurance Investment & Retirement Advice Commercial Banking Direct Health & Medical Insurance Carriers Consumer Lending & Mortgages Direct Life Insurance Carriers Saving/Credit Institutions & Other Loan Services Credit Cards Insurance Agencies & Brokerages $3, 874, 333 $3, 630, 862 $4, 000, 408 10% $3, 548, 553 $3, 395, 033 $3, 816, 718 12% $3, 351, 182 $3, 203, 989 $3, 602, 628 12% $2, 060, 026 $1, 973, 842 $2, 208, 813 12% $1, 841, 601 $1, 759, 897 $1, 979, 118 12% $1, 480, 873 $1, 415, 509 $1, 586, 784 12% $1, 087, 825 $1, 070, 460 $1, 228, 245 15% $352, 360 $343, 083 $381, 089 11% $167, 890 $161, 333 $4, 000, 408 10% TOTAL $17, 764, 643 $16, 954, 009 $18, 976, 687 11% © 2020 BIA Advisory Services. All Rights Reserved. | 12

Financial Services- Spending in Top 10 Markets 2020 ($000 s) Rank TV Market Commercial Banking Direct Health Direct Life Insurance and Medical Insurance Agencies and Credit Cards Insurance Carriers Brokerages Carriers Consumer Lending & Mortgages Saving/ Credit Auto & Investment & Institutions Direct Retirement and Other Property Advices Loan Insurance Services Total 1 New York, NY $ 9. 94 $ 7. 49 $ 4. 86 $ 0. 50 $ 0. 04 $ 5. 45 $ 3. 32 $ 10. 56 $ 11. 27 $ 53. 42 2 Los Angeles, CA $ 9. 45 $ 3. 51 $ 7. 20 $ 0. 55 $ 0. 24 $ 5. 20 $ 3. 16 $ 9. 99 $ 10. 70 $ 49. 99 3 Chicago, IL $ 12. 40 $ 2. 91 $ 3. 96 $ 0. 41 $ 0. 58 $ 6. 81 $ 4. 14 $ 13. 13 $ 14. 05 $ 58. 41 4 Philadelphia, PA $ 9. 33 $ 4. 11 $ 6. 06 $ 0. 41 $ 9. 48 $ 5. 12 $ 3. 11 $ 9. 89 $ 10. 57 $ 58. 08 5 $ 10. 94 $ 2. 94 $ 6. 44 $ 0. 39 $ 0. 20 $ 6. 02 $ 3. 66 $ 11. 56 $ 12. 39 $ 54. 55 $ 13. 10 $ 2. 28 $ 5. 61 $ 0. 85 $ 0. 16 $ 7. 19 $ 4. 37 $ 13. 89 $ 14. 84 $ 62. 29 7 Dallas-Ft. Worth, TX San Francisco. Oakland-San Jose, CA Boston, MA $ 12. 90 $ 6. 18 $ 4. 89 $ 0. 34 $ 0. 00 $ 7. 07 $ 4. 30 $ 13. 70 $ 14. 62 $ 64. 00 8 Washington, DC $ 12. 21 $ 2. 14 $ 6. 69 $ 0. 45 $ 0. 38 $ 6. 70 $ 4. 07 $ 12. 96 $ 13. 84 $ 59. 43 9 Atlanta, GA $ 10. 57 $ 4. 82 $ 2. 90 $ 0. 44 $ 0. 15 $ 5. 81 $ 3. 53 $ 11. 20 $ 11. 98 $ 51. 40 10 Houston, TX $ 7. 62 $ 9. 03 $ 5. 32 $ 0. 85 $ 0. 07 $ 4. 19 $ 2. 55 $ 8. 07 $ 8. 64 $ 46. 36 $ 10. 84 $ 4. 54 $ 5. 39 $ 0. 52 $ 1. 13 $ 5. 96 $ 3. 62 $ 11. 49 $ 12. 29 $ 55. 79 6 Average © 2020 BIA Advisory Services. All Rights Reserved. | 13

Financial Services-Selling Insights By Sub-Vertical Commercial Banking Saving/Credit Institutions & Other Loan Services • Frustration with big banks has led many customers to seek out local community banks. Millennials are a very lucrative market. A survey found that millennials and Gen Z demographics are the most likely to have multi-product relationships with their banks. • Approximately 11% of Americans have used a payday loan in the past two years. • Online banking is the primary banking channel for 40% of Americans. Twenty-six percent primarily use mobile banking, while branches are the preferred channel for 18 percent. Average Spend on Advertising: 1. 0% of sales (commercial banking) 4. 8% of sales (saving/credit) Investment & Retirement Advice • Major opportunity to advise Americans on saving for retirement. 57% of those between 55 and 64 have enough savings to last through retirement. • According to Edward Jones, 75% of women under 40 report not having a financial advisor. • As the cost of college continues to rise, there's opportunity for setting up 529 college investment plans. Average Spend on Advertising: 1. 9% of sales Consumer Lending & Mortgages • There's major opportunity to market to millennials. A survey found that 72% of millennials considered homeownership as a top priority. Millennials now account for approximately 45% of all new mortgages compared with 36% for Generation X and 17% for baby boomers. • There's major opportunity for lenders to capture business online, as home buyers are increasingly finding their lenders online and a recent survey found that two-thirds of Americans expect to be able to apply for a mortgage and complete the application online. Average Spend on Advertising: 2. 4% of sales © 2020 BIA Advisory Services. All Rights Reserved. | 14

Financial Services-Selling Insights By Sub-Vertical Insurance Agencies • The market for life insurance, retirement and investment products continues to be highly fragmented and competitive. Most life insurance companies offer one or more similar products. Americans are concerned and Brokerages about paying for long-term care. Millennials are key to growth for established agents. Auto & Direct Property Insurance • Insurance agents should consider marketing usage-based insurance, as interest for this continues to grow. • An industry study found that, to be more competitive, agents are adding new digital capabilities (48%), Direct Life Insurance investing in marketing (38%), and reaching out to new market segments (31%). Carriers Average Spend on Advertising: 0. 2% sales (insurance brokers) 1% (direct health & medical) Direct Health & Medical Insurance Carriers © 2020 BIA Advisory Services. All Rights Reserved. | 15

Financial Services– Where Consumers are Responding to Ads Financial Retirement Planning Consumers That Responded to an Ad in the Last 30 Days Direct Mail Television (over-the-air, online, mobile or tablet) Ad on a social network Search Ads Email Mobile smartphone app or text message Newspaper (print, online, mobile or tablet) Radio (over-the-air, online, mobile or tablet) Display Ads Magazine (print, online, mobile or on tablet) Pre-roll video ads (the video that plays before the video you want to watch) Outdoor Directory print or online Audience 38. 8% 34. 9% 33. 1% 32. 5% 32% 29. 8% All US 31. 4% 29. 6% 27. 9% 28% 25. 3% 26. 4% Difference +24% +18% +19% +16% +26% +13% 27. 2% 24% 23. 5% 22. 3% 19. 5% 19. 3% 20. 4% 16. 8% +39% +24% +15% +33% 16. 9% 15. 5% +9% 16. 3% 15. 5% 14. 2% 13. 2% +15% +17% © 2020 BIA Advisory Services. All Rights Reserved. | 16

Real Estate Vertical Forecast TV (OTA and online), OTT, mobile show growth in 2021 and through 2024. Most of the spending growth will occur in digital media which has a larger share of the ad pie. TV OTT, mobile and radio online have the most aggressive growth in the next 4 years. TV and out of home are the leading in ad share for traditional with TV a powerful reach medium. Within the digital media categories, the majority of 2020 ad buying by Real Estate will be for Other Display (35. 4%) and Search (33. 9%). Real Estate Forecasted $3. 9 B in 2020 to $(000 s) 2019 2020 2021 % Growth 2020 -2021 Real Estate Development $1, 223, 399 $1, 277, 947 $ 1, 392, 624 8% Realtors $2, 550, 367 $2, 668, 509 $2, 909, 127 9% Total $3, 773, 767 $3, 946, 456 $4, 301, 751 9% © 2020 BIA Advisory Services. All Rights Reserved. | 17

Real Estate- Spending in Top 10 Markets 2020 ($000 s) Rank TV Market Realtors Real Estate Development Total 1 New York, NY $ 8. 97 $ 4. 30 $ 13. 28 2 Los Angeles, CA $ 8. 24 $ 3. 95 $ 12. 19 3 Chicago, IL $ 8. 98 $ 4. 30 $ 13. 28 4 Philadelphia, PA $ 8. 28 $ 3. 96 $ 12. 25 5 Dallas-Ft. Worth, TX $ 8. 21 $ 3. 93 $ 12. 14 6 San Francisco-Oakland-San Jose, CA $ 9. 94 $ 4. 76 $ 14. 70 7 Boston, MA $ 9. 80 $ 4. 69 $ 14. 50 8 Washington, DC $ 9. 08 $ 4. 35 $ 13. 43 9 Atlanta, GA $ 7. 54 $ 3. 61 $ 11. 16 10 Houston, TX $ 8. 25 $ 3. 95 $ 12. 20 Average $ 8. 73 $ 4. 18 $ 12. 91 © 2020 BIA Advisory Services. All Rights Reserved. | 18

Real Estate- Selling Insights By Subvertical Realtors • • Many real estate agents are using digital tools, such as virtual open houses and showings via live chat. Professionals predict that this digital integration was much needed and demand for these services will continue after the outbreak. 76% of recent home buyers used a mobile device during their home search. Forty-two percent of home buyers say that the first step they took during the buying process was look at properties online. Average Spend on Advertising: 2. 3% of sales Real Estate • Development • Home builders report receiving 1 -10 leads a month from their websites. At least 63% of builders focus on generating leads through inbound practices. 94% of prospective buyers use technology to search and select their new builder. 89% of those prospects expect to continue using technology throughout the construction process. Average Spend on Advertising: 0. 5% of sales © 2020 BIA Advisory Services. All Rights Reserved. | 19

Real Estate– Where Consumers are Responding to Ads Real Estate Consumers That Responded to an Ad in the Last 30 Days Ad Media Ad on a social network Mobile smartphone app or text message Search Ads Direct Mail Television (over-the-air, online, mobile or tablet) Emailed ad or newsletter Display Ads Daily deals (like Groupon or Living. Social) Radio (over-the-air, online, mobile or tablet) Newspaper (print, online, mobile or tablet) Magazine (print, online, mobile or on tablet) Pre-roll video ads (the video that plays before the video you want to watch) Outdoor ad Directory search (online or print) Audience 38. 8% 37. 5% 37. 3% 36. 7% 35. 1% 31. 1% 30. 9% 29. 2% 25. 6% 25. 2% 24. 7% All US Difference 27. 9% +39% 26. 4% +42% 28% +33% 31. 4% +17% 29. 6% +19% 25. 3% +23% 20. 4% +51% 20. 4% +43% 19. 3% +33% 19. 5% +29% 16. 8% +47% 20. 7% 15. 5% +34% 20. 6% 18. 4% 14. 2% 13. 2% +45% +39% © 2020 BIA Advisory Services. All Rights Reserved. | 20

Retail Vertical Forecast Retail Forecast $24. 9 B in 2020 to $29. 5 B in 2024 (000 s) TV (OTA and online), OTT, mobile and email show growth in 2021 and through 2024. Most of the spending growth by Retail businesses will occur in digital media. TV OTT, Mobile and Email have the most aggressive growth in the next 4 years. 68. 4% of spend is on traditional and 31. 6% digital in 2020. Direct Mail has the largest ad share but is losing share between 2020 and 2024 leaving opportunity for other media. Within retail warehouse clubs, clothing stores and home centers have the largest spend on advertising. Furniture Stores Floor Covering Stores Other Home Furnishings Stores Household Appliance Stores Electronic Stores Home Centers Paint and Wallpaper Stores Hardware Stores Lawn & Garden Equipment & Supplies Stores Shoe Stores Jewelry, Luggage, and Leather Goods Stores Sporting Goods Stores Hobby, Toy, and Game Stores Book Stores Department Stores Discount Department Stores Warehouse Clubs and Supercenters All Other General Merchandise Stores Office Supplies and Stationery Stores Gift, Novelty, and Souvenir Stores Mattress and Sleep Centers Clothing Stores Pet Supplies Stores TOTAL 2019 2020 2021 % Growth 2020 -2021 $1, 410, 794 $532, 778 $775, 839 $319, 778 $607, 299 $2, 993, 572 $223, 406 $428, 345 $731, 441 $683, 105 $820, 364 $932, 565 $386, 282 $303, 119 $1, 670, 262 $2, 477, 827 $6, 207, 753 $976, 214 $500, 794 $358, 447 $572, 777 $3, 807, 514 $167, 290 $27, 887, 563 $1, 290, 014 $489, 639 $689, 850 $289, 208 $541, 558 $2, 642, 616 $199, 975 $384, 285 $660, 075 $607, 300 $728, 710 $834, 166 $345, 253 $270, 238 $1, 486, 545 $2, 211, 301 $5, 556, 341 $875, 720 $447, 350 $319, 920 $517, 869 $3, 381, 171 $149, 287 $24, 918, 389 $1, 478, 179 $559, 149 $774, 701 $331, 203 $606, 099 $2, 898, 241 $223, 161 $426, 990 $728, 752 $681, 378 $818, 121 $930, 916 $385, 507 $302, 062 $1, 665, 846 $2, 469, 681 $6, 080, 469 $970, 630 $499, 968 $357, 402 $597, 178 $3, 800, 213 $167, 082 $27, 752, 928 14. 6% 14. 2% 12. 3% 14. 5% 11. 9% 9. 7% 11. 6% 11. 1% 10. 4% 12. 2% 12. 3% 11. 6% 11. 7% 11. 8% 12. 1% 11. 7% 9. 4% 10. 8% 11. 7% 15. 3% 12. 4% 11. 9% 11. 4% © 2020 BIA Advisory Services. All Rights Reserved. | 21

Retail- Spending in Top 10 Markets 2020 ($000 s) Rank TV Market Furniture Stores Other Home Floor Covering Furnishings Stores Household Appliance Stores Electronic Stores Home Centers Paint and Wallpaper Stores Hardware Stores Lawn and Garden Shoe Stores Equipment and Supplies Stores 1 New York, NY $ 4. 51 $ 1. 28 $ 3. 61 $ 1. 74 $ 2. 07 $ 6. 75 $ 0. 66 $ 1. 07 $ 3. 30 2 Los Angeles, CA $ 3. 92 $ 1. 35 $ 2. 36 $ 0. 80 $ 1. 85 $ 7. 10 $ 0. 54 $ 0. 82 $ 0. 86 $ 2. 07 3 Chicago, IL $ 3. 93 $ 1. 43 $ 2. 24 $ 1. 41 $ 1. 84 $ 8. 59 $ 0. 53 $ 1. 32 $ 1. 49 $ 2. 18 4 Philadelphia, PA $ 4. 44 $ 1. 36 $ 2. 14 $ 0. 67 $ 1. 91 $ 8. 19 $ 0. 67 $ 1. 06 $ 1. 76 $ 2. 13 5 Dallas-Ft. Worth, TX $ 3. 80 $ 1. 39 $ 2. 01 $ 0. 84 $ 1. 45 $ 7. 21 $ 0. 74 $ 0. 60 $ 1. 64 $ 1. 76 6 San Francisco-Oakland-San Jose, CA $ 4. 24 $ 1. 47 $ 3. 31 $ 1. 19 $ 2. 11 $ 7. 49 $ 0. 80 $ 2. 23 $ 1. 61 $ 2. 39 7 Boston, MA $ 5. 39 $ 1. 57 $ 3. 91 $ 1. 24 $ 2. 24 $ 9. 66 $ 0. 70 $ 1. 42 $ 1. 80 $ 2. 47 8 Washington, DC $ 4. 88 $ 1. 88 $ 2. 68 $ 0. 78 $ 2. 21 $ 9. 57 $ 0. 70 $ 0. 97 $ 2. 10 $ 2. 43 9 Atlanta, GA $ 3. 54 $ 1. 47 $ 1. 75 $ 0. 72 $ 1. 48 $ 8. 27 $ 0. 69 $ 1. 05 $ 1. 49 $ 1. 50 10 Houston, TX $ 4. 02 $ 0. 90 $ 2. 33 $ 1. 10 $ 1. 61 $ 7. 50 $ 0. 56 $ 0. 85 $ 1. 54 $ 1. 76 Average $ 4. 27 $ 1. 41 $ 2. 63 $ 1. 05 $ 1. 88 $ 8. 03 $ 0. 66 $ 1. 14 $ 1. 54 $ 2. 20 © 2020 BIA Advisory Services. All Rights Reserved. | 22

Retail- Spending in Top 10 Markets 2020 ($000 s) Rank TV Market Jewelry, Luggage, Sporting Hobby, Toy, and Leather Goods and Game Goods Stores Book Stores Gift, All Other Office Novelty, Discount Warehouse Department General Supplies and Department Clubs and Stores Merchandise Stationery Stores Supercenters Souvenir Stores 1 New York, NY $ 4. 29 $ 2. 40 $ 1. 55 $ 1. 03 $ 6. 56 $ 6. 12 $ 5. 70 $ 2. 11 $ 1. 64 $ 1. 22 2 Los Angeles, CA $ 2. 45 $ 2. 26 $ 1. 03 $ 0. 75 $ 5. 15 $ 8. 41 $ 8. 55 $ 2. 73 $ 1. 63 $ 0. 89 3 Chicago, IL $ 2. 40 $ 2. 49 $ 1. 19 $ 0. 93 $ 5. 27 $ 10. 09 $ 11. 03 $ 2. 22 $ 1. 33 $ 0. 95 4 Philadelphia, PA $ 2. 60 $ 2. 98 $ 1. 51 $ 1. 08 $ 6. 71 $ 10. 71 $ 7. 43 $ 3. 18 $ 1. 62 $ 1. 63 5 Dallas-Ft. Worth, TX $ 1. 97 $ 2. 30 $ 0. 84 $ 0. 71 $ 4. 60 $ 3. 00 $ 27. 53 $ 2. 64 $ 1. 22 $ 0. 63 6 San Francisco-Oakland-San $ 3. 04 $ 3. 29 $ 1. 22 $ 1. 29 $ 7. 70 $ 9. 36 $ 5. 35 Jose, CA $ 1. 85 $ 1. 74 $ 1. 45 7 Boston, MA $ 3. 64 $ 3. 57 $ 1. 52 $ 1. 61 $ 4. 99 $ 9. 40 $ 7. 59 $ 2. 21 $ 1. 99 $ 1. 50 8 Washington, DC $ 2. 70 $ 2. 25 $ 1. 27 $ 1. 18 $ 5. 35 $ 8. 66 $ 10. 87 $ 1. 80 $ 1. 68 $ 1. 04 9 Atlanta, GA $ 1. 65 $ 1. 42 $ 0. 83 $ 0. 63 $ 3. 75 $ 3. 13 $ 28. 03 $ 1. 85 $ 1. 31 $ 0. 69 10 Houston, TX $ 2. 20 $ 3. 14 $ 1. 02 $ 0. 66 $ 4. 53 $ 3. 40 $ 22. 06 $ 1. 93 $ 1. 15 $ 0. 79 Average $ 2. 69 $ 2. 61 $ 1. 20 $ 0. 99 $ 5. 46 $ 7. 23 $ 13. 41 $ 2. 25 $ 1. 53 $ 1. 08 © 2020 BIA Advisory Services. All Rights Reserved. | 23

Retail- Selling Insights • Omni-channel operations (including websites and catalogs), are a critical part of customers’ overall experience with brands and will be a significant contributor to future business growth and profitability. • Stores are finding opportunity to attract shoppers and boost revenue by hosting events and experiences. • Millennials are avid spenders on their children: 53% shop for their children at least once a month, which is significantly more than non-millennials (42%). • Some retailers are encouraging customers to return by offering loyalty programs, which include special sale information and coupons. Many of these stores offer branded credit cards, often which provide a discount to approved cardholders. • Subscription apparel services and rental programs are gaining popularity. • Average Spend on Advertising: Clothing, shoes and accessories- 1. 9%-4. 6% co-op $1, 416 -$2, 000 Department stores & retail stores - 0. 9%-4%, co-op $3, 700 -$5, 100 © 2020 BIA Advisory Services. All Rights Reserved. | 24

Retail– Where Consumers are Responding to Ads Warehouse and Supercenter Consumers That Responded to an Ad in the Last 30 Days Ad media Audience Direct Mail 36. 8% Television (over-the-air, online, mobile or tablet) 30. 5% Search Ads 29. 8% Email 28. 4% Ad on a social network 27. 1% Mobile smartphone app or text message 25. 8% Newspaper (print, online, mobile or tablet) 22. 3% Display Ads 20. 2% Radio (over-the-air, online, mobile or tablet) 17. 7% Magazine (print, online, mobile or on tablet) 17. 5% Pre-roll video ads (the video that plays before the video you want 12. 4% to watch) Directory search (online or print) 12. 3% Outdoor ad 11. 1% All US Difference 31. 4% +17% 29. 6% +3% 28% +6% 25. 3% +12% 27. 9% -3% 26. 4% -2% 19. 5% +14% 20. 4% -1% 19. 3% -8% 16. 8% +4% 15. 5% -20% 13. 2% 14. 2% -7% -22% © 2020 BIA Advisory Services. All Rights Reserved. | 25

Selling Digital Services to Local Businesses Webinar Offering Data, Insights, Strategy, Case Studies § Next week our focus is on selling digital to local businesses. § BIA’s Rick Ducey will moderate a webinar on Wed. , June 24 at 11 am eastern § Our guest speakers: • Stephanie Slagle, Graham Media • Mike Hartel, Alpha Media • Lisa Rigsby, Sales. Fuel Details and registration here: https: //bit. ly/Digital. Selling. Webinar © 2020 BIA Advisory Services. All Rights Reserved. | 26

Vertical Definitions Vertical Coverage (ADVantage Categories)/Definition Home Improvement General Services Sub-Verticals Maintenance Services Other Home Building Services Plumbers and HVAC Retail Sub-Verticals Floor Covering Stores: Hardware Stores Home Centers Household Appliance Stores Lawn and Garden Equipment and Supplies Stores Paint and Wallpaper Stores Legal Services Offices of legal practitioners known as lawyers or attorneys (i. e. , counselors-at-law) primarily engaged in the practice of law. Establishments in this industry may provide expertise in a range or in specific areas of law, such as criminal law, corporate law, family and estate law, patent law, real estate law, or tax law. © 2020 BIA Advisory Services. All Rights Reserved. | 27

Vertical Definitions Vertical Coverage (ADVantage Categories) Financial Services Auto & Direct Property Insurance Commercial Banking Consumer Lending & Mortgages Credit Cards Direct Health and Medical Insurance Carriers Direct Life Insurance Carriers Insurance Agencies and Brokerages Investment & Retirement Advices Saving/Credit Institutions and Other Loan Services Real Estate Development Realtors © 2020 BIA Advisory Services. All Rights Reserved. | 28

Vertical Definitions Vertical Coverage (ADVantage Categories) Retail Electronic Stores Shoe Stores Jewelry, Luggage, and Leather Goods Stores Sporting Goods Stores Hobby, Toy, and Game Stores Book Stores Department Stores Discount Department Stores Warehouse Clubs and Supercenters All Other General Merchandise Stores Office Supplies and Stationery Stores Gift, Novelty, and Souvenir Stores Mattress and Sleep Centers Clothing Stores Pet Supplies Stores © 2020 BIA Advisory Services. All Rights Reserved. | 29

Questions & Comments: We're here to answer your questions, and help you find the data you need. For questions or comments, please contact us: Celine Matthiessen, VP Insights and Analytics & ADVantage Client Services cmatthiessen@bia. com | clientinfo@bia. com | (469) 955 -2151 © 2020 BIA Advisory Services. All Rights Reserved. 30