Lowe's Bringing Lowe's One Roof Retail Media Network Sales and Operations In-House to Enhance Advertiser Services

Rhea-AI Summary

Lowe's announced the in-house management of its One Roof Media Network's advertising sales and operations, starting January 31, 2023. This strategic move aims to enhance the customer experience for brand advertisers, improving engagement and ROI. The company has invested in new ad tech and streamlined partnerships, allowing better access to first-party data and faster campaign execution. Serving over 200 clients, Lowe's media network has shown success, with some advertisers achieving returns exceeding double that of industry averages.

Positive

• In-house management of advertising sales expected to enhance customer experience and advertiser engagement.
• Investment in advertising technology and streamlined partnerships for efficient media buying.
• Successful growth of Lowe's One Roof Media Network with over 200 clients and significant returns on ad spend.

Negative

• None.

Ownership of End-to-End Customer Experience Will Simplify Buying Process and Drive Relevance and Sales for Brand Advertisers

MOORESVILLE, N.C., Jan. 12, 2023 /PRNewswire/ -- As the next step in scaling the Lowe's One Roof Media Network platform capabilities and advertising services, Lowe's Companies, Inc. today announced its retail media network's advertising sales and operations departments will move in-house, effective Jan. 31. This move will allow Lowe's One Roof Media Network to own the end-to-end customer experience for brand advertisers and partner with them to deliver a richer commerce experience for Lowe's shoppers.

"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 vice president, enterprise brand and marketing. "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."

Lowe's has invested in new advertising technology and strategically streamlined its preferred partners to make media buying, campaign execution and reporting easier for brands anywhere customers look for home improvement inspiration. The strategic media partnerships include offsite media experiences powered by Yahoo, such as digital out-of-home, addressable TV and connected TV; and sponsored search and product ads on Lowe's channels streamlined and powered by Criteo.

With these investments, enhanced opportunities for advertisers include:

• Improved ability to leverage Lowe's proprietary first-party customer data, including search and transaction insights, to reach the right customers and create more impactful ads
• Faster and more efficient launch and management of Lowes.com campaigns, with dedicated points of activation and measurement for in-depth reporting
• More in-house Lowe's experts to help them scale, personalize and optimize their search campaigns, with integrated partnerships across Lowe's merchandising, marketing and operations

Launched in 2021, Lowe's One Roof Media Network has rapidly grown and currently serves more than 200 clients across a variety of home improvement and lifestyle categories such as appliances, kitchen and bath, and tools. The media network provides customizable advertising solutions and proprietary data and insights to help brands meaningfully connect with Lowe's customer base of more than 100 million home lifestyle shoppers.

Current Lowe's One Roof Media Network advertising partners include Moen, Stanley Black & Decker and Whirlpool Corporation. Brand advertisers are receiving significant returns on their ad spend, with many achieving more than double their returns compared with others in the industry.

"Retail media is among the fastest-growing segments of digital advertising globally," said Abi Subramanian, vice president and general manager 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."

For more information, visit LowesOneRoofMediaNetwork.com. To inquire about advertising opportunities, email LowesOneRoofMediaNetwork@Lowes.com.

About Lowe's

Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE^® 50 home improvement company serving approximately 19 million customer transactions a week in the United States and Canada. With 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. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.

Contact:

Stefanie Moody
Lowe's Companies, Inc.
stefanie.moody@lowes.com

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SOURCE Lowe's Companies, Inc.

FAQ

What is Lowe's One Roof Media Network?

Lowe's One Roof Media Network is an in-house advertising network that provides brand advertisers with media solutions, leveraging Lowe's customer data to enhance advertising effectiveness.

When will Lowe's advertising sales and operations move in-house?

Lowe's advertising sales and operations will move in-house effective January 31, 2023.

How many clients does Lowe's One Roof Media Network serve?

Lowe's One Roof Media Network currently serves over 200 clients in various home improvement and lifestyle categories.

What are the expected benefits for advertisers moving forward?

Advertisers can expect improved engagement, better access to first-party customer data, and more efficient campaign management, ultimately driving higher returns on investment.

What types of media partnerships does Lowe's have?

Lowe's has partnerships for offsite media experiences powered by Yahoo, including digital out-of-home, addressable TV, and sponsored search ads.