Marvin r. Ellison said in the release.However, ellison stressed that the decline in lowe’s diy . And consumer segment was “partially offset” by positive comparable sales in pro and online.“[w]E continue . To build momentum with our total home strategy reflected by our mid-single-digit positive comps with . The pro customer this quarter,” ellison said in the release. “as we look ahead, we . Are confident that we are making the right long-term investments to take share when the .
Get More S Through Word-of-mouth Marketing
Market recovers.”comparable pro sales were up mid-single digits, and lowe’s reported double-digit online pro growth.Read . Also: lowe’s targets ecuador phone number data smaller pros for bigger bb growthlowe’s looks to take greater share in . Pro segmentthe professional and contractor segment in the home improvement marketplace is one of the . Most valuable due to the large ticket size compared to everyday consumers and diy hobbyists.Against . A backdrop where the lingering effects of inflation have led consumers to prioritize essential spending .
Co-marketing Strategies for Business
Over discretionary home improvement projects, lowe’s strategic focus on pros has never been more central . To the retailer’s growth.“pro backlogs the new product is more compact remain healthy and consistent with last year, and of pros . Surveyed by lowe’s are confident in landing new business,” ellison explained during the earnings call, . Noting that lowe’s is focused on driving pro penetration, in part by accelerating the company’s . Online business and elevating its assortment.“we are seeing strength in the small and medium pro,” .
Leveraging Reviews for Business
Said lowe’s chief financial officer brandon sink on the call.Lowe’s earnings come a week after . The retailer’s main competitor, home depot, reported philippines numbers a similar softening of the macro environment and . Stressed to its own investors that it is doubling down on a similar strategy to . Lowe’s by targeting the professional builder to weather tepid consumer demand.To stand out, lowe’s executives . Told investors they are doubling down on both their digital strategy and in-store experience.
Encourage Referrals for
“in home . Improvement, your stores are still an incredibly important part for the pro customer,” said lowe’s . Leadership. “same with our inventory levels and brand offerings… after we establish those foundational things, . We can drive stickiness with more sophisticated offerings.”see also: lowe’s to pilot in-store mixed-reality experience . For kitchen designas of aug. , lowe’s operated , stores representing million square feet of . Retail selling space, per the press release.
