Lowe's Companies Inc. has mapped out goals for growth and productivity initiatives and topping the list is driving a best-in-class omnichannel experience and growing its Pro consumer segment.
"As we look ahead to the expected recovery in home improvement, we are making investments to position the company for long-term growth. We are evolving our Total Home strategy to help solve our customers' total home improvement needs with more value and exceptional service," Marvin R. Ellison, Lowe's chairman, president and CEO, said in a release.
Lowe's 2025 Total Home Strategy has five top initiatives:
- Drive Pro penetration.
- Accelerate online sales.
- Expand home services.
- Create a loyalty ecosystem.
- Increase space productivity.
The company has developed a framework to harness the power of generative AI designed to enhance the customer experience and unlock productivity.
Lowe's is piloting solutions to empower frontline associates to better serve customers and improve the in-store shopping experience, according to the release
In early 2025, the company is relaunching its Pro loyalty program as MyLowe's Pro Rewards, designed specifically for the small-to-medium Pro. The program will be more intuitive to use, making it easier and faster for Pros to earn rewards and redeem them.
The company is bringing its DIY and Pro loyalty programs into one ecosystem, under a single currency.
Lowe's plans to open 10 to 15 stores per year over the next several years in fast-growing markets in the U.S.
Lowe's is planning to extend its rural assortments to 150 more stores, bringing everything needed for farm and home under one roof.