Lowe’s Signs on to a Project with SOLUM
Lowe’s Companies, Inc., one of the leading retail companies in the United States, signed on to a project with SOLUM back in January 2020 to be its primary provider of ESL solutions.
Headquartered in Mooresville, North Carolina, the retail giant operates 2,200 home improvement and hardware stores across the United States and Canada, employing 300,000 associates while serving approximately 18 million customers a week.
The home improvement retail company is set to install its 1,730 branches Newton tags in various sizes. The first phase of the rollout consisted of tags customized with Lowe’s logo, prominently displayed on the lower bezel. ESLs without the logo will also be rolled out in the next phases to make their orientation more adaptable, as per Lowe’s request.
The project is expected to be completed by the 3rd quarter of 2020 as the rollout is now at 90% completion.
Originally a small-town hardware store in North Carolina, Lowe’s has evolved to be one of the largest home improvement retailers worldwide. Since then, it has committed to helping homeowners, renters, and professionals improve their homes and businesses.
One of the most vital factors of Lowe’s success is its strong commitment to store operating efficiency, which includes streamlining and improving product pricing and promotional activities. This is exactly why, from using paper shelf labels, Lowe’s has decided to shift to electronic shelf labels.
Lowe’s was looking for an ESL solution that would ensure swift but accurate price updates to reflect their dynamic pricing strategies and for the execution of successful in-store promotions. This is especially important during the holiday season when important sale events would often overlap. Furthermore, an ESL solution that can retain sensitive data such as product information and sales analytics in-house will be far more beneficial than paper shelf labels, eliminating the need to share them with third-party providers such as printing houses.
Lowe’s chose SOLUM primarily because of the newly introduced Newton label, which provides the fastest update speed in the market today.
Newton’s update speed is ten times faster than any other ESL, which means that Lowe’s can change their product prices across all 1,730 stores in real-time. This enables them to develop a more sophisticated dynamic pricing strategy, thus helping them stay competitive.
Aside from its speed, Newton’s custom bezel design will help Lowe’s attain consistent brand identity. Important consumer data gathered by the intuitive Newton system will also help Lowe’s gain insights about their customer behavior, allowing them to create more effective and timely promotion strategies.
In the near future, SOLUM will install more Newton tags in Lowe’s lighting section, which will serve as their next collaboration.
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For further information about our ESL solutions, please contact:
Stefan Voelkel, Director Sales, SOLUM Europe, tel.: +49 (0) 162 296 3186, [email protected]
or Hyojin Lee, Director Sales EMEA & Industrial, SOLUM Europe, tel.: +49 (0) 170 9166857, [email protected]
or John Revie, Vice President of Sales, SOLUM America, tel.: 01-201-210-8360, [email protected]
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