Jan 13, 2023
Lowe’s is bringing all of its One Roof Media Community advert gross sales and operations in-house.
The house enchancment retailer yesterday stated that the transfer, efficient Jan. 31, will permit it to manage all parts of its relationship with advertisers and associate with them in methods to realize extra significant interactions with the patrons on lowes.com and within the chain’s shops.
“That is the following step in turning into a best-in-class media community and delivering white-glove customer support for our model companions,” stated Jen Wilson, Lowe’s senior vp, enterprise model and advertising and marketing, in a assertion. “Managing these capabilities internally below one roof will allow us to construct stronger, extra compelling campaigns higher aligned with our manufacturers and prospects’ pursuits and wishes, which in flip will drive elevated shopper engagement and larger ROI for our advertisers.”
Lowe’s launched its One Roof Media Community in 2021 and has made continued investments that it says improves the flexibility of advertisers to mine its first-party knowledge for deeper insights into the chain’s prospects. The corporate additionally stated advertisers have entry to “quicker and extra environment friendly” launches and administration of campaigns on lowes.com. The retailer’s in-house consultants are in a position to work with manufacturers to assist them scale, personalize and optimize search campaigns by in-house partnerships with Lowe’s merchandising, advertising and marketing and operations departments.
Lowe’s One Roof Media Community has greater than 200 shoppers, together with Moen, Stanley Black & Decker and Whirlpool, whose merchandise are offered within the chain’s shops, by its app and on-line. The house enchancment chain claims that lots of its advertisers are reaching outcomes that outpace their efforts on competing retail media networks.
“Retail media is among the many fastest-growing segments of digital promoting globally,” stated Abi Subramanian, vp and basic supervisor of Lowe’s One Roof Media Community. “As we proceed to develop this enterprise, we’ll stay laser-focused on evolving our promoting capabilities and know-how to ship the perfect advertising and marketing options for our manufacturers in 2023 and past.”
Lowe’s reported a better-than-expected three % same-store gross sales acquire within the third quarter, ending Oct. 28. The chain’s efficiency was buoyed by gross sales to the skilled market, which grew 16 % year-over yr, the tenth straight quarter of good points.
DISCUSSION QUESTIONS: Will advertisers profit from Lowe’s choice to convey its retail media operations below one roof? The place do you see the most important alternatives and challenges dealing with retailers seeking to develop and scale their very own digital advert networks?
“Will advertisers profit from Lowe’s choice to convey its retail media operations below one roof?”
