Lowe's Companies, Inc. has launched a retail media service to help brands access the home lifestyle movement through a suite of offerings and consumer insights.
Lowe's One Roof Media Network will provide omnichannel advertising services, including ad placement on Lowes.com and in the Lowe's mobile app.
"There's been a real shift in consumer behavior and sentiment toward home, and we know our partners are continually looking for new ways to command attention, drive relevance and overall sales," said Marisa Thalberg, Lowe's executive vice president, chief brand and marketing officer. "Leveraging Lowe's deep understanding of the home lifestyle customer and real-time trends, Lowe's One Roof Media Network will serve as an extension of our partners' marketing teams, helping them develop custom, comprehensive approaches designed to deliver on their business goals."
Lowe's One Roof Media Network will also offer digital and social media extensions to help brands better reach their target customers; Sponsored home editorial content on Lowe's social channels and Lowes.com; Custom research and thought leadership on future shopping behaviors, trends and shifts; and In-depth measurement and closed-loop reporting including consultation for growth opportunities.
Capabilities are both in operation today and under development to launch in 2022 and beyond. In development of Lowe's One Roof Media Network, Lowe's partnered with technology and service providers CitrusAd and Criteo.
More than 100 partner brands, including Samsung, Kohler and GE Lighting, participated in Lowe's One Roof Media Network's early beta tests, with limited categories and inventory. Those tests have already generated significant growth of daily revenue, Lowe’s said. One kitchen and bath partner achieved a 700% return on ad spend, with several vendors in the pilot seeing returns over 1,000%. As part of the next public beta phase, Lowe's will scale onsite inventory, select offsite activation partners and ramp sales demand as brands plan for 2022.