Lowe’s makes major change to its retail media network
Lowe’s Companies Inc. is taking ownership of its Lowe’s One Roof Media Network.
The home improvement titan initially launched Lowe's One Roof Media Network, a retail media service designed to provide a portfolio of omnichannel advertising services, in October 2021. The platform includes data-driven insights integrated with analysis of consumer behaviors and home category trends, as well as customized advertising products.
[Read more: Lowe’s launches advertising services network]
Effective Tuesday, Jan. 31, Lowe’s retail media network's advertising sales and operations departments will move in-house. According to Lowe’s, this move will allow it to own the end-to-end customer experience for its brand advertisers and partner with them to deliver a richer commerce experience.
In late 2022, Lowe's invested in new advertising technology and strategic media partnerships. These included offsite media experiences powered by Yahoo, including digital out-of-home, addressable TV and connected TV; and sponsored search and product ads on Lowe's channels, supported by Criteo.
“This is the next step in becoming a best-in-class media network and delivering white-glove customer service for our brand partners," said Jen Wilson, senior VP, enterprise brand and marketing, Lowe’s. "Managing these functions internally under one roof will enable us to build stronger, more compelling campaigns better aligned with our brands and customers' interests and needs, which in turn will drive increased shopper engagement and greater ROI for our advertisers."
"Retail media is among the fastest-growing segments of digital advertising globally," said Abi Subramanian, VP and GM of Lowe's One Roof Media Network. "As we continue to grow this business, we'll remain laser-focused on evolving our advertising capabilities and technology to deliver the best marketing solutions for our brands in 2023 and beyond."
Currently, Lowe's One Roof Media Network serves more than 200 advertising clients across categories such as appliances, kitchen and bath, and tools. The media network provides customizable advertising solutions and proprietary data and insights designed to help participating brands connect with Lowe's customer base. Lowe's One Roof Media Network advertising partners include Moen, Stanley Black & Decker and Whirlpool Corporation.
Based in Mooresville, N.C., Lowe's Companies, Inc. reported fiscal year 2021 sales of over $96 billion. Lowe's and its related businesses operate or service nearly 2,200 home improvement and hardware stores and employ over 300,000 associates.