While DIY chain Lowe’s is announcing double profits for the third quarter of 2017, it is also looking at its success with attracting and keeping pro customers.
“We achieved double-digit comps in lumber and building materials and above-average comps in plumbing and electrical,” Rick Damron, Lowe’s Chief Operating Officer said during the company’s earnings call. The nearly across the board increases in sales for lumber, buildings materials, plumbing and electrical shows the work to attract all trades is working for Lowe’s.
“In addition to our outstanding portfolio of brands, we’re also expanding our relationship with the pro customer across all categories with our strong value proposition, including our 5 Ways to Save, as well as advancing our capabilities to connect with the Pro seamlessly across channels through lowesforpros.com and our growing ProServices team,” Damron continued. 5 Ways to Save is a program that includes a 5% discount for pro customers, a business replenishment program, contractor packs, easy ways to order by phone or online, and delivery options.
Lowe’s has also expanded its ProServices team over the past two years, which is a local team of sales people used to help contractors on the job site. “We continue to build pro awareness with targeted marketing as well as pro exclusive offers to grow our share of wallet with existing pros while also expanding our base of pro customers. We continue to execute on our strategic priorities, including leveraging our omni-channel capabilities to help customers achieve great project results,” Damron added.
Lowe’s is also expanding its delivery opportunities to get contractors their purchases inside of a two hour window. Lowe’s recently filled an executive position to make sure fulfillment is a priority.
As of this earnings report, the pro business is about 30% of the revenue created by Lowe’s. “I still feel very good about our Pro performance, seems doing a great job engaging the customer in a variety of different segments across the marketplace,” Mike McDermott, Chief Customer Officer, told reporters during the earnings call.
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