LOWE'S UNVEILS LOWE'S STYLE STUDIO FOR APPLE VISION PRO

Rhea-AI Summary

Lowe's is launching Lowe's Style Studio, a groundbreaking experience for the home improvement industry designed exclusively for Apple Vision Pro. This new spatial computing tool allows customers to visualize and design their dream kitchen from the comfort of their own homes, offering nearly 80 billion possible combinations for a unique design.

Insights

Market Research Analyst

The introduction of Lowe's Style Studio for Apple Vision Pro represents a significant innovation in the home improvement sector, leveraging emerging technology to enhance customer experience. From a market research perspective, this initiative could potentially increase customer engagement and drive sales, as it simplifies the decision-making process for consumers. By allowing customers to visualize their kitchen designs in 3D, Lowe's is addressing a common barrier in the home improvement journey: the difficulty of imagining the end result of renovations.

Moreover, the nearly 80 billion possible combinations for customization indicate a vast inventory and a high level of personalization, which are key competitive advantages. This could lead to an uptick in store visits and online traffic, as customers seek to translate their virtual designs into reality. In the long term, such technological advancements could solidify Lowe's position as an innovator in the industry, potentially affecting market share and investor confidence positively.

Technology Analyst

The deployment of spatial computing in Lowe's Style Studio is a strategic move that showcases the company's commitment to integrating cutting-edge technology into their business model. Spatial computing allows users to interact with digital content in a three-dimensional space, which in this case, enhances the user's ability to design and visualize home projects. The technology's intuitive input and gesture system, controlled by eyes and hands, could set a new standard for user interfaces in retail apps.

From a technological standpoint, this launch could also drive further innovation within the sector, prompting competitors to adopt similar technologies. The synchronization feature with Lowes.com accounts in a post-launch update emphasizes the importance of a seamless omnichannel experience. This integration could lead to increased data collection on consumer preferences, enabling Lowe's to refine product offerings and marketing strategies.

Financial Analyst

The financial implications for Lowe's following the release of Lowe's Style Studio could be multifaceted. On one hand, the initial costs associated with developing such a sophisticated app may be substantial. However, if the app succeeds in reducing friction in the customer journey, it could translate into higher conversion rates and larger average order values. The ability for customers to directly email, text, or AirDrop their designs to stakeholders could streamline the sales process, potentially shortening the sales cycle and improving inventory turnover.

Investors should monitor customer adoption rates and the subsequent impact on sales. If Lowe's can effectively leverage this technology to capture a larger market segment, it could lead to an improved financial outlook. However, investors should also be aware of the risks involved, such as the potential for technical issues or a slower-than-expected user adoption rate, which could dampen the anticipated positive financial impact.

A breakthrough experience for the home improvement industry on Apple Vision Pro; customers can visualize and design their dream kitchen in minutes with immersive spatial computing 

CHARLOTTE, N.C., Feb. 1, 2024 /PRNewswire/ -- Lowe's is launching Lowe's Style Studio^TM, a breakthrough experience for the home improvement industry designed exclusively for Apple Vision Pro. Available Friday, Feb. 2 on the App Store, Lowe's Style Studio takes advantage of the unique capabilities of spatial computing to help customers visualize and design their dream kitchen from the comfort of their own home, making home improvement easier than ever.

Getting started on a kitchen design can be exciting and daunting. With more products and style trends available than ever before, customers often don't know where to begin, or how to articulate the look they want. In Lowe's Style Studio for Apple Vision Pro, customers don't just look at 2D renderings or flat inspirational images to get started; they step into an immersive 3D kitchen scene. Here, they can explore preset styles curated by Lowe's professional designers, and customize hundreds of real-world materials, fixtures, and appliances – all available at Lowes.com or in store – to fit their personal taste. With nearly 80 billion possible combinations, every customer can create a kitchen inspiration that's uniquely their own.

"This is a transformational moment for kitchen design. Our customers can now visualize their dream kitchen in their own space, and that's incredibly exciting," said Seemantini Godbole, Lowe's executive vice president, chief digital and information officer. "Lowe's Style Studio immerses our customers in a cutting-edge design experience enabled by spatial computing that will make home improvement easier than ever. I'm proud of our team for creating a powerful, immersive experience for Apple Vision Pro customers."

Lowe's has a track record of leveraging groundbreaking technologies to make home improvement projects frictionless and more approachable – and this new experience represents another step forward. Utilizing the intuitive input and gesture system of Apple Vision Pro, which is controlled by a user's eyes and hands, Lowe's Style Studio gives customers the unprecedented ability to create, explore, and bring their projects to life with ease. After customers realize their ideal kitchen design, they can transform their plans into style boards, and email, text or AirDrop them to a significant other, a contractor, or an interior designer to compare notes. In a post-launch update, customers will also be able to synchronize their style boards with their Lowes.com account, making it simple to shop within the Lowe's app on iPhone or iPad.

Lowe's Style Studio was built by Lowe's Innovation Labs, a team focused on imagining, exploring, and accelerating the future of home improvement through emerging technologies, and core members of the Lowe's mobile technology team.

This experience is the latest development in a portfolio of breakthrough innovations aimed at reducing friction for customers and associates. With a decade of exploration in emerging technologies, the organization has developed features like  Measure Your Space^®, a room measurement tool that uses ARKit and the LiDAR Scanner on iPhone; experiences like Lowe's Product Expert^TM, a custom GPT that delivers home improvement product recommendations via generative AI; and the industry's first interactive store digital twin.

To learn more, please visit Lowesinnovationlabs.com.

About Lowe's

Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 17 million customer transactions a week in the United States. With total fiscal year 2022 sales of over $97 billion, approximately $92 billion of sales were generated in the United States, where 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

Kyle.Byrnes@lowes.com
Larry.Costello@lowes.com
Codeword for Lowe's Innovation Labs
lowesinnovationlabs@codewordagency.com

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SOURCE Lowe's Companies, Inc.

FAQ

What is Lowe's launching for Apple Vision Pro?

Lowe's is launching Lowe's Style Studio, a spatial computing tool that allows customers to visualize and design their dream kitchen.

When will Lowe's Style Studio be available?

Lowe's Style Studio will be available on Friday, Feb. 2 on the App Store.

What is the unique capability of spatial computing used in Lowe's Style Studio?

Lowe's Style Studio uses spatial computing to help customers visualize and design their dream kitchen from the comfort of their own home.

How many possible combinations are available in Lowe's Style Studio for kitchen design?

There are nearly 80 billion possible combinations available in Lowe's Style Studio for creating a unique kitchen design.

Who created Lowe's Style Studio?

Lowe's Style Studio was built by Lowe's Innovation Labs and core members of the Lowe's mobile technology team.