Lowe's Pens New 'Playbook' to Help Coach Pros Through New-Year Preparation and the Challenges Pros Expect

Rhea-AI Summary

As Lowe's PROvember approaches, the company unveils the PROvember Playbook to assist professionals in navigating inflation-related challenges. Recent research indicates that 86% of professionals rank inflation as a major issue. The Playbook offers insights on efficient spending and investment in tools. PROvember, starting Oct. 27, features special discounts on Pro-grade tools, rewards programs for loyal customers, and events like a Pro Happy Hour on Nov. 17. Despite economic pressures, 73% of professionals feel their jobs are more rewarding this year, indicating optimism for future projects.

Positive

• Lowe's introduces the PROvember Playbook to assist professionals in managing inflation challenges.
• The survey shows that 73% of professionals feel their jobs are more rewarding than last year.
• 66% of professionals expect increased project work for the remainder of the year.
• Extra savings and rewards opportunities during PROvember may lead to increased customer loyalty.

Negative

• Inflation continues to challenge 86% of professionals, indicating ongoing economic pressures.
• A significant number of professionals (57%) identify effective time management as a challenge in their work.

As Lowe's PROvember returns, PROvember Playbook helps Pros ease burden of inflation with long-term savings, intel from industry experts and new survey findings

MOORESVILLE, N.C., Oct. 26, 2022 /PRNewswire/ -- As Pros balance planning for another busy year ahead with closing out their winter project logs, Lowe's is stepping in as a true business partner to help them find new opportunities to maximize their business. Enter: Lowe's PROvember Playbook, a guide for Pros of all business sizes to create the most value as they restock and recharge heading into 2023.

According to new proprietary research from Lowe's¹, 86 percent of Pros found inflation a top challenge in 2022, and two-thirds of those Pros believe it will be a long-term issue. The Lowe's PROvember Playbook will help ease the burden of such issues by offering advice from Lowe's Pro Ambassadors about making the most with their money, which tools are worth stocking up on now, and which deals provide the most return on investment for their business.

Available at Lowes.com/PROvemberPlaybook, the guide comes just as Lowe's kicks off Lowe's PROvember on Oct. 27, with more than 30 days to celebrate Pros—this year, with new upgrades to help Pros make the most of their year-end purchases, including:

• Extra savings to help provide more return on investment in the long run. In addition to immediate cost savings, Pros can stock up for the year ahead on select Pro-grade tools and materials—from DeWalt, Metabo HPT, FLEX and more—that also promote maximum productivity on the jobsite.
  
  
• Opportunities to earn rewards and celebrate their crew. MVPs Pro Rewards and Partnership Program members can rack up Bonus Points by earning up to three Bonus Points per dollar² on select items during Lowe's PROvember. And, Lowe's will host a free Pro Happy Hour on Nov. 17 from 2 to 5 p.m. at all stores nationwide, where Pros can join in for free PEPSI^® drinks and FRITO-LAY^® snacks and more. MVPs Pro Rewards members can also enter for a chance to win a trip to the NFL Pro Bowl Games³.
  
  
• All this in addition to a Pro desk with fully dedicated Red Vest associates trained to help Pros, inventory quantities that Pros can count on and strong credit offerings (Pros can save five percent off every day on eligible purchases plus zero percent interest for 60 days when using the Lowe's Business Advantage Account⁴).

"We know Pros have a lot of challenges to navigate this winter, so we are deepening our dedication through Lowe's PROvember," said Tony Hurst, senior vice president, Pro, services and international. "As a true business partner for Pros, we are listening to their needs and adding more value and more meaning to what we offer our Pros so they can get ahead of another busy year."

For the second year in a row, Lowe's conducted its proprietary Pro Pulse Survey¹ to understand Pros' reflections on the year and what they expect ahead. In addition to challenges they faced like inflation, the key findings suggest:

• Pros remain optimistic despite a challenging economic backdrop. Nearly three in five (59 percent) Pros say their job has been more challenging than last year, but 73 percent say their job has been more rewarding than last year.
  
  
• Pros expect steady project growth in 2023. 66 percent expect to have more work for the remainder of the year than they did during the rest of the year – and 73 percent expect even more work in 2023.
  
  
• The increasing economic pressures provoke an even deeper focus for Pros on saving time and money. While 98 percent of Pros say effective time management is important to the success of their jobs, 57 percent of Pros name effective time management as a challenge.
  
  
• Looking ahead to next year, the majority of Pros (61 percent) plan to outsource part(s) of their business. Further, 68 percent say they rely on their retailers and suppliers more than they did a year ago.

Learn more about Lowe's PROvember and shop the latest savings from Oct. 27 - Dec. 8 at Lowes.com/PROvember.

1. TRUE Global Intelligence, the in-house research practice of FleishmanHillard, fielded an online survey of 1,000 home improvement professionals in the U.S. aged 18 and older between September 15 and 28, 2022, on behalf of Lowe's.
   
   
2.  Program subject to Terms & Conditions. Details at Lowes.com/L/ProLoyaltyTerms. Subject to change. Bonus Points calculated before taxes and fees, after applicable discounts, if any.
   
   
3. NO PURCHASE NECESSARY. Begins at 2:00:00 p.m. local time & ends at 5:00:00 p.m. local time on 11/17/22 ("Sweepstakes Period"). Open to legal U.S. residents residing in the 50 US/DC, 18 or older (19 or older for AL & NE) & a Lowe's MVPs Pro Rewards member at the time of entry. Void where prohibited. Ends at 5:00:00 p.m. local time on 11/17/22. See Official Rules for free entry via email at bit.ly/3BZK3mC. Sponsor: Pepsi-Cola Company. Lowe's is not a sponsor of this sweepstakes. The NFL Entities have not offered or sponsored this Sweepstakes in any way.
   
   
4. For more information on Lowe's PRO Financing Solutions options visit lowes.com/businesscreditcenter.

About Lowe's

Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 19 million customers a week in the United States and Canada. With fiscal year 2020 sales of nearly $90 billion, Lowe's and its related businesses operate or service more than 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 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/lowes-pens-new-playbook-to-help-coach-pros-through-new-year-preparation-and-the-challenges-pros-expect-301659543.html

SOURCE Lowe's Companies, Inc.

FAQ

What is the PROvember Playbook by Lowe's?

The PROvember Playbook is a guide created by Lowe's to assist professionals in maximizing business value while addressing inflation-related challenges.

When does Lowe's PROvember start?

Lowe's PROvember kicks off on Oct. 27.

What percentage of professionals find inflation a top challenge according to Lowe's survey?

86% of professionals identified inflation as a major challenge in 2022.

When is the Pro Happy Hour event during Lowe's PROvember?

The Pro Happy Hour is scheduled for Nov. 17 from 2 to 5 p.m. at all Lowe's stores nationwide.

What are the expectations for project growth in 2023 according to professionals?

73% of professionals expect to have more work in 2023 compared to this year.