You've probably had plenty of hours to overanalyze your home after spending far too much time in it over the past couple years. Whether that has inspired you to completely revamp your space or finally given you enough time to make needed repairs, chances are you've found yourself in the aisles of your local Lowe's more than once. This home improvement retailer has been a go-to spot for pandemic projects, and the company has been continuously trying to upgrade its own space and shopping experience as it welcomes in more customers. Now, Lowe's has announced that it just started rolling out another major change for shoppers. Read on to find out what's next for the retailer.
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Lowe's will start providing deliveries to shoppers through Instacart.
ShutterstockLowe's announced on Feb. 23 that it would be partnering with the popular delivery service Instacart, Fox Business reported. According to a press release provided by Instacart, the two companies are collaborating on a same-day delivery service for the home improvement retailer. Customers will be able to get delivery for around 20,000 products from Lowe's, including small home appliances, building supplies, and light fixtures, as well as garden and outdoor essentials.
"Online is a key piece of our omnichannel strategy, and the combination of Lowe's home improvement expertise and Instacart's ability to help deliver right to your door within hours offers a new, convenient way to shop," Mike Shady, Lowe's senior vice president of online business, said in a statement. "As we explore a suite of solutions to meet our customers' same-day and next-day delivery needs, this partnership is enhancing the customer experience and providing the choices today's customers demand."
Not all shoppers in the U.S. will be able to order from Lowe's through Instacart just yet.
Erin Deleon / ShutterstockAccording to the company announcement, Instacart's same-day delivery for Lowe's stores has started as a pilot program in Boston, Massachusetts, and Charlotte, North Carolina. But the company says that there are plans to expand the program to more locations across the nation in the coming months.
In the meantime, customers in Boston and Charlotte can shop from Lowe's for same-day delivery through Instacart by visiting the company's dedicated web page for the home improvement retailer or by selecting the Lowe's storefront on the Instacart app. "For all orders, an Instacart shopper will pick and deliver the order within the customer's chosen delivery timeframe. Customers can follow along and live chat with their shopper in real-time as needed," the delivery company said.
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Instacart says demand for home improvement products has skyrocketed.
ShutterstockLowe's will be the "first dedicated home improvement partner available on the Instacart marketplace," according to the delivery company. The addition of Lowe's stores on its marketplace is meant to address a growing consumer need due to a surge in demand for home improvement products. "People across North America have shown they're embracing the 'do it yourself' mentality, and demand for home improvement essentials on our platform grew by more than 50 percent in 2021 compared to 2020," Chris Rogers, the vice president of retail at Instacart, explained in a statement.
Rogers added, "We're proud to welcome Lowe's to the Instacart marketplace, delivering essential items customers need to complete their projects without leaving their homes. We're excited to help Lowe's connect with consumers in a new way, and we look forward to growing our partnership over the coming months."
Lowe's is expecting demand to continue rising.
ShutterstockAnalysts have recently expressed concern that higher mortgage rates and prices could make customers less interested in investing in their homes, Reuters reported. But it doesn't appear that this has phased Lowe's. The retailer just offered an optimistic perspective on consumer need for home improvement products in the coming year.
"We are confident that home improvement demand will remain strong despite an uptick in interest rates," Lowe's Chief Financial Officer David Denton said on a Feb. 23 earnings call. According to executives for the company, the recent trend of more millennials buying suburban houses and the continued extension of remote work is likely to aid a rise in demand for home upgrades and renovations in 2022.
"And as a reminder, 50 percent of the homes in the U.S. are over 40 years old and will continue to require investments for upkeep, and approximately two-thirds of Lowe’s annual sales are generated from repair and maintenance activity. Therefore, we’re encouraged that the macro environment for home improvement remains very supportive," Lowe's Chief Executive Marvin Ellison also said during the call, per MarketWatch.
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