Industry Brief
Lowe’s: Never Stop Improving
Lowe’s: The First Choice for Home Improvement
Well-known for its tagline “Never Stop Improving” and focused on providing
customer-valued solutions with the best prices and services, Lowe’s
strives to do whatever’s necessary to make it “the first choice for home
improvement.”
Five Factors That Customers Value
improvement company serving approximately 15
As the world’s economy emerges from recession, U.S. home improvement
product sales growth is expected to increase by 6.5% in 2014 to $309
billion (after a 4.2% increase in 2013), according to the Home Improvement
Research Institute (HIRI). Still, as Lowe’s 2013 Annual Report cautioned,
“The home improvement retailing business includes many competitors.”
To compete and succeed against a wide variety of competitors (including
home improvement warehouse chains and lumberyards, traditional hardware,
plumbing, electrical, home supply and general merchandise retailers, mail
order firms, warehouse clubs, online and other specialty suppliers), Lowe’s
sees five factors that customers value foremost and which the company
seeks to deliver:
million customers a week in the United States,
• Reputation
Canada and Mexico. With fiscal year 2013 sales of
• Customer experience
$53.4 billion, Lowe’s has more than 1,830 home
• Merchandise quality and price
improvement and hardware stores and 260,000
• Range & availability of products & services
About Lowe’s
Lowe’s Companies, Inc. is a FORTUNE® 100 home
employees.
• Store locations
Technology, Multichannel Presence, Customer Experience
In addition to those five value factors, Lowe’s investor relations documents
note “the increasing use of technology and the simplicity of online shopping
also underscore the importance of multichannel presence as a competitive
factor.”
Delivering what it calls “Lowe’s Promise,” company employees are
committed to delivering better customer experiences across the entire home
improvement spectrum.
How does Lowe’s do this?
It pulls together the best combination of possibilities, support and value for
customers wherever and whenever they choose to engage.
Lowe’s Chairman of the Board, President and Chief Executive Officer Robert
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A. Niblock shares his vision:
“We are setting a course to deliver the best customer experiences in home improvement. I believe even better results
await us… on the horizon.”
Americans Hate to Wait
For anyone who’s had to endure the traditional experience of going to a big home improvement emporium, and painfully had
to wait to get the attention of someone to address their needs, it’s impressive to see what Lowe’s is doing to combat this.
At more than 1,800 stores, Lowe’s makes it easy for customers to book in-store or at-home appointments with experts to
discuss options, budgets and plans for exterior or interior projects. Whether it’s online or phone scheduling, the company
offers customers free in-home consultations with Lowe’s Exterior Installation Services specialists to discuss the specific
needs for windows, siding, roofing, gutters, decking or other projects. Similarly, customers can also conveniently schedule
complimentary appointments with an Interior Project Specialist. These specialists play the primary customer-facing role in
developing, closing and managing kitchen and bath project sales.
Lowe’s Holoroom
Augmenting value delivered through in-person appointments with Project Specialists, Lowe’s Innovations Labs recently
pioneered Lowe’s Holoroom: a “home improvement simulator” that uses virtual reality and augmented reality to help
customers visualize what renovated spaces might look like. Customers begin using Holoroom technology by first recreating
an area in their home (e.g. kitchen or bathroom) before adding items like flooring and countertops. They then make an in-store
visit and physically enter the Holoroom simulator and use an iPad as a virtual lens, through which the vacant environment is
transformed into a 3D model of their design. The technology allows people to move through the room, zoom in on details,
interactively change furnishings and finishes, and fully explore their virtual surroundings.
Debuting in a handful of stores in 2014, Lowe’s Holoroom will initially be limited to simulations of bathroom fixtures, but the
company plans to roll out more categories and locations over time.
Lowe’s Customer Experience Leadership
In 2014, Lowe’s further demonstrated its commitment to customer experience through the appointment of a new chief
customer officer, a new chief merchandising officer, and a new top strategy and experience design executive.
Recognized as accomplished business leaders, Lowe’s executives were noted in a company press release for being
responsible for delivering “compelling, differentiating, omni-channel customer experiences across the company’s business.”
From its use of innovative technologies, to the delivery of first-rate services by its more than 206,000 employees, Lowe’s has
proven that it will “Never Stop Improving” to satisfy its customers ever-changing needs and expectations.
FOR MORE INFORMATION CALL US TOLL FREE 877-884-9224
www.timetrade.com
© 2014 TimeTrade Systems, Inc. The World Leader in Online Appointment Scheduling. All rights reserved. Appointment CRM, Appointment Cloud and Inbound Sales are Trademarks of TimeTrade Systems, Inc.