Lowe’s Cos. Inc. is the latest in a rapidly growing line of retailers creating an omnichannel advertising platform to connect brands with their customers.
Home improvement giant is launching Lowe’s One Roof Media Network, a retail media service designed to provide a portfolio of omnichannel advertising services. The platform includes data-driven insights integrated with the analysis of consumer behaviors and house category trends, as well as personalized advertising products.
More than 100 partner brands, including Samsung, Kohler and GE Lighting, participated in the network’s first beta tests, with limited categories and inventory. According to Lowe’s, a kitchen and bathroom partner achieved a 700% return on ad spend, and several vendors in the pilot had returns above 100%. As part of the next public beta phase, Lowe’s will expand its onsite inventory, select offsite activation partners, and increase sales demand as brands plan for 2022.
âThere has been a real shift in consumer behavior and sentiment towards the home, and we know our partners are continually looking for new ways to gain attention, drive relevance and overall sales,â said Marisa Thalberg, Executive Vice President, Chief Brand and Marketing Officer of Lowe. âBy leveraging Lowe’s in-depth understanding of customer lifestyles and real-time trends, Lowe’s One Roof Media Network will serve as an extension to our partners’ marketing teams, helping them develop personalized and comprehensive approaches designed to achieve their business goals. “
The platform has several products currently available or under development to be launched in 2022 and beyond, including aplacement on the Lowes.com pages and the channel’s mobile application; sponsored editorial content on these channels; Ddigital and social media extensions to help brands better reach their target customers; vspersonalized research and thought leadership on buying behaviors, trends and changes; and IN-depth measurement and closed-loop reporting, including consulting for growth opportunities. The platform also offers integration with Lowe’s marketing and brand team.
To grow the network, Lowe’s has partnered with retail media technology and service providers CitrusAd and Criteo. Home improvement retailer is part of a rapidly developing trend of retailers opening their customer bases to third-party digital advertisers, either through partnerships with retail media platforms or through proprietary networks.
For example, consumer electronics chain Best Buy recently launched enabling advertisers to use Criteo’s cross-retailer self-service platform to reach online shoppers in the United States and Canada. Through Sponsored Products, the platform will help Best Buy customers discover and buy more products. And Wakefern Food Corp., the nation’s largest retailer-owned grocery cooperative, recently started leverage CitrusAd’s retail media technology for sponsored products and display advertisements on its desktop and mobile e-commerce sites.
Additionally, Walmart recently launched a ofplatform demand side for suppliers and their media and advertising agencies in time for the holiday season 2021. Originally announced at the introduction of Walmart Connect media platform in January 2021, Walmart’s demand-side platform (DSP) is a collaborative effort with a demand-side independent platform The commercial counter.
Meanwhile, target spear its Roundel advertising network in 2019 as a tool for CPG brands to create personalized digital advertising campaigns aimed at target customers. At least four other major retailers have launched similar digital third-party ad networks in the past year: Family dollar, Walgreens, Kroger, and CVS.
Based in Mooresville, North Carolina, Lowe’s has more than 2,200 home improvement and hardware stores.