LOWE'S LAUNCHES FIRST-EVER MYLOWE'S REWARDS WEEK WITH UP TO 40% OFF: THE BIGGEST MEMBER DEALS OF THE YEAR

Rhea-AI Summary

Lowe's announces its first-ever MyLowe's Rewards Week, running from October 10-16, 2024. This member-only event offers up to 40% off hundreds of items across various categories. Highlights include:

• Up to 40% off select tools, tool storage, ladders, and bathroom products
• Up to 30% off select décor lighting and holiday items
• $50 off all Whirlpool laundry pairs

Members spending $50+ in a single transaction earn $5 in MyLowe's Money. The event showcases the program's ability to deliver outstanding deals and new earning opportunities. MyLowe's Rewards members enjoy ongoing benefits like points on purchases, free shipping, DIY-U workshops, and weekly instant savings.

Positive

• Launch of MyLowe's Rewards Week with up to 40% off on various product categories
• Members spending $50+ earn $5 in MyLowe's Money, increasing customer value
• Event timing aligns with pre-holiday season, potentially boosting sales
• MyLowe's Rewards program offers ongoing benefits, encouraging customer loyalty

Negative

• None.

Insights

Marketing Analyst

Lowe's inaugural MyLowe's Rewards Week is a strategic move to boost customer loyalty and drive sales during a typically slower period before the holiday season. The event offers up to 40% discounts on various product categories, which is significant for a home improvement retailer. This promotion is likely to:

• Increase foot traffic and online sales
• Expand the MyLowe's Rewards member base
• Enhance customer data collection for personalized marketing
• Stimulate early holiday shopping

The additional $5 MyLowe's Money incentive for $50 purchases further encourages higher transaction values. This event demonstrates Lowe's commitment to competing with other retailers' loyalty programs and could help strengthen its market position against competitors like Home Depot. However, the deep discounts may impact profit margins in the short term, betting on long-term customer loyalty and increased market share.

Exclusive Member Event from October 10-16: A Celebration of Savings, Rewards, and More

MOORESVILLE, N.C., Sept. 26, 2024 /PRNewswire/ -- Today, Lowe's announces its inaugural MyLowe's Rewards Week, running from October 10-16. This member-only event marks a major milestone, offering MyLowe's Rewards¹ members the biggest deals of the year, with up to 40% off hundreds of items across categories such as appliances, home décor, holiday items, kitchen and bath essentials, paint and more. Whether shopping in-store or online, members will enjoy even more savings during this inaugural event, just ahead of the holiday season.

"We're thrilled to launch MyLowe's Rewards Week as a special way to celebrate our members," said Jen Wilson, Lowe's senior vice president and chief marketing officer. "This event marks an important step in our maturation of our loyalty offering and recognizes and rewards our members for the 'big deal' they are to us."

During MyLowe's Rewards Week, members can enjoy incredible offers, including:

• Up to 40% Off Select Tools, Tool Storage & Ladders
• Up to 40% Off Select Bathroom Products
• Up to 20% Off Select Storage & Organization
• Up to 30% Off Select Décor Lighting
• Up to 30% Off Select Holiday Items
• $50 off ALL Whirlpool Laundry Pairs

Members who spend $50 or more in a single transaction* will also earn $5 in MyLowe's Money™† (to be issued in the form of 500 points), adding even more value to their shopping experience. For non-members, there's never been a better time to join for FREE and immediately access these deals and more.

"Since our launch of MyLowe's Rewards earlier this year, we've been focused on unlocking new ways to give more value to our members," said Wilson. "This special week will showcase the program's ability to deliver outstanding deals and new earning opportunities for valued members."

In addition to these special offers, members also enjoy ongoing benefits, including points toward MyLowe's Money™† on every eligible purchase, free standard shipping (starting at Silver Key status; excluding Alaska and Hawaii), free DIY-U workshops, weekly instant savings with Member Deals, and access to free member gifts throughout the year. MyLowe's Rewards Credit Card holders receive additional advantages, such as a 5% discount** or special financing on eligible purchases and free upgrade to Silver Key status, which offers 1.25x points** towards MyLowe's Money™†.

Accessible through the Lowe's app, Lowes.com, and in-store, MyLowe's Rewards provides a seamless and personalized shopping experience, allowing members to track points, view exclusive deals, redeem MyLowe's Money, explore past purchases and receive personalized recommendations. To take advantage of these deals in-store, customers simply scan their member ID or enter their phone number at checkout.

For more information on MyLowe's Rewards Week and how to become a MyLowe's Rewards member, visit Lowes.com/MyLowesRewards or download the Lowe's app.

1MyLowe's Rewards™ Program subject to terms & conditions. Visit Lowes.com/Terms for details. Subject to change.

† Points are awarded on eligible purchases for orders that have been settled and fulfilled. 500 points = $5 MyLowe's Money. MyLowe's Money: NO CASH BACK. Nontransferable. MyLowe's Money is not a credit, debit or gift card; it has no implied warranties. MyLowe's Money can be redeemed during the stated redemption window with any other discounts, offers, or coupons. Limit of 5 per transaction. Void if altered, defaced, copied, transferred, or sold (thru any on-line auction or otherwise). MyLowe's Money will be applied after all other applicable discounts, coupons, taxes and fees have been applied. MyLowe's Money may not be redeemed or used on (1) gift cards, including Lowe's-branded gift cards; (2) payments to a Lowe's credit card or any third-party charge account; (3) on any Lowe's branded website operated by a 3rd party; or (4) Weber, Kichler or Miele products. Returns: for merchandise purchased with MyLowe's Money return value will be applied first to payment method and any remaining value will be returned as MyLowe's Money to customer's Wallet. Valid in U.S. only. Subject to change. Lowe's reserves the right to withdraw MyLowe's Money at any time for any reason. See Lowes.com/terms for details.

*One time offer only. Offer valid until 10/10/2024. My Points are awarded on Eligible Purchases (calculated before taxes & fees, and after applicable discounts, if any). A MLR member account may reflect a negative points balance if a return is made after MyLowe's Money has been issued to the customer. In those situations, customer may not see full 500 points reflected in points balance. Exclusions, additional terms & restrictions apply. Visit Lowes.com/terms for full details. Subject to change.

**Subject to credit approval. 5% offer applies to eligible US Lowe's store and Lowes.com purchase or order after all other applicable discounts charged to your MyLowe's Rewards Credit Card. Customer must pay applicable sales tax. Offer can't be used in conjunction with or on: (i) other credit-related promotional offers; (ii) any other promotion, discount, markdown, coupon/barcode, rebate or offer, including any Lowe's volume or special discount programs (such as but not limited to, Contractor Pack, Buy in Bulk, Value Savings Program ("VSP"), Special Value, New Lower Price, Was: Now, Military Discount, Employee Discount, and Lowest Price Guarantee); (iii) associate discretion price adjustments; (iv) any services (such as but not limited to, rentals; extended protection/replacement plans; shipping, delivery, assembly or installation fees); (v) fees or taxes; (vi) previous sales; (vii) gift cards; or (viii) Weber, Kichler, or Miele products. Excludes Lowe's Business Credit Accounts, Lowe's Visa® Accounts and all Lowe's Canada Credit Accounts. We reserve the right to discontinue or alter the terms of this offer at any time.

About Lowe's
Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2023 sales of more than $86 billion, Lowe's operates over 1,700 home improvement stores and employs approximately 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.

Media Contact
MJ Wilson
Lowe's Companies, Inc.
mj.wilson@lowes.com

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SOURCE Lowe's Companies, Inc.

FAQ

When is Lowe's MyLowe's Rewards Week in 2024?

Lowe's MyLowe's Rewards Week runs from October 10-16, 2024.

What discounts are offered during Lowe's MyLowe's Rewards Week?

Lowe's offers up to 40% off on select tools, tool storage, ladders, and bathroom products, up to 30% off on select décor lighting and holiday items, and $50 off all Whirlpool laundry pairs.

How can customers earn MyLowe's Money during the Rewards Week?

Members who spend $50 or more in a single transaction during MyLowe's Rewards Week will earn $5 in MyLowe's Money (500 points).

What ongoing benefits does the MyLowe's Rewards program offer?

MyLowe's Rewards members enjoy points on eligible purchases, free standard shipping (starting at Silver Key status), free DIY-U workshops, weekly instant savings, and access to free member gifts throughout the year.