Lowe’s Companies, Inc. hosted its 2024 Analyst and Investor Conference last month to discuss its growth and productivity initiatives and financial targets. The company is evolving its Total Home strategy to provide customers with more value and exceptional service, while building on its momentum with Pros, which has reached 30% penetration.

Lowe’s 2025 Total Home Strategy spans five growth initiatives: Drive Pro Penetration, Accelerate Online Sales, Expand Home Services, Create a Loyalty Ecosystem, and Increase Space Productivity. To support these initiatives, the company is announcing a new AI framework to enhance customer experience and drive productivity. The framework harnesses the power of generative AI through a standardized development process, allowing the company to create innovative solutions alongside leading tech platforms like NVIDIA, OpenAI, and Palantir.

The company has launched the first product marketplace in the U.S. Home Improvement industry, offering a wider selection of products without carrying inventory or managing pricing. The new marketplace positions Lowe’s as a one-stop shop for all home improvement needs.

In early 2025, the company is relaunching its Pro loyalty program as MyLowe’s Pro Rewards, designed specifically for small-to-medium Pros. This new program will be more intuitive to use, making it easier and faster for Pros to earn rewards and redeem them. Additionally, Pro customers who shop with their MyLowe’s Pro Rewards Credit Card will save 5% every day on eligible purchases.

Lowe’s is also launching a Pro Extended Aisle to expand job site delivery through a direct interface with supplier systems. This allows sales associates to access an expanded digital catalog, including inventory availability, pricing, and supplier services like job site and rooftop delivery.

To fuel long-term growth, Lowe’s plans to open 10-15 stores per year in fast-growing markets in the U.S., building on the success of recent new store openings and leveraging enhanced space productivity initiatives. The company is also planning to extend its rural assortments to 150 more stores, bringing everything needed for farm and home under one roof.

In summary, Lowe’s Companies, Inc. is focusing on its Total Home strategy, launching a new AI framework, expanding its online assortment, and expanding its rural offerings to better serve customers in rural communities.

Source: Lowes