Lowe’s launches AI quoting tool for home improvement professionals
Lowe’s Companies Inc. continues rolling out solutions and services for home improvement professionals (a customer segment it calls "Pros.")
The home improvement giant is introducing a new AI-based tool called Material Lists which converts handwritten notes, photos, spreadsheets and other supported file types into quote-ready orders in minutes, with support for both the English and Spanish languages.
The solution leverages in-house-developed SKU matching and automated list digitization technology and is designed to reduce manual entry and simplify the estimating process.
"We know time is one of the most valuable resources for Pros and every minute spent manually building estimates or organizing material lists is time taken away from serving customers and growing their businesses," said Quonta (Que) Vance, executive VP of Pro and home services at Lowe's. "Material Lists is part of our broader commitment to building smarter, faster solutions that simplify the customer journey and help Pros save time, work more efficiently and stay competitive. "
Material Lists is the latest AI offering Lowe’s is aiming at Pros. Other AI Pro solutions include Pro extended aisle, which utilizes a direct interface with supplier systems to provides sales associates with instant access to an expanded digital catalog, including inventory availability, pricing and supplier services like jobsite and rooftop delivery.
[READ MORE: Lowe’s growth plans include store expansion, marketplace launch and more]
Video produced by Lowe's.
With the expedited quoting process, the company expects to improve its close rate on larger orders, capturing more planned Pro spend while relying on large suppliers to execute jobsite delivery.
Lowe’s also offers Pros Blueprint Takeoffs, which enables them to generate material lists and estimates directly from project plans using AI. The retailer offers the MyLowe’s Pro Rewards program aimed at home improvement industry professionals, which also recently expanded an existing partnership with financial services company Synchrony to issue an American Express credit card for members.
Chief Lowe’s rival Home Depot has offered its Pro Xtra loyalty program for home improvement professionals since 2012, and recently rolled out a variety of new digital tools for members including a smart project management solution.
Based in Mooresville, N.C., Lowe’s Companies Inc. operates over 1,750 home improvement stores, 540 branches and 120 distribution centers.
