Brands make markets
Lowe is the second largest home improvement retailer in the US after Home Depot, with sales of USD 68.6 bn (EUR 55.8 bn)........
in 2017/2018 (end of February 2018). It operates 2,152 stores in Canada, Mexico and the US, employing over 310,000 people.
After a difficult second quarter divesting the Orchard Supply Hardware division, the new CEO Marvin R. Ellison, has proposed a number of changes, including: they have analyzed their Pro- customers and found out that they have very simple expectations and that starts with the service first of all. As "time is money" also applies to this customer group, it is important that consulting staff is always available, and moreover, the diversity of the offer should make it easy for them to always choose and get the right product for a specific job. Slow turners are sorted out and replaced with high turnover products.
Lowe believes that branded products attract customers, so they work closely with their current suppliers to make sure that they continue to be loyal to Lowe, but at the same time meet new suppliers with new product lines in order to close product gaps and address even more customers.
Customers want reliable brands, so brand manufacturers need to invest in brand care.