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.”
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 lumber yards, 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…
Discover how and when buyers want to engage with providers of goods and services, the common challenges buyers experience when making personal purchases, and what impact customer engagement has on a consumer’s ultimate buying decision.