Google Cloud and Lowe's Expand their Work Together to Create a Best-In-Class Technology Foundation
January 13, 2020 at 11:00 am
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Google Cloud and Lowe's announced the two companies are expanding their work together to create a best-in-class technology foundation to help Lowe's deliver exceptional customer experiences and empower store associates with tools to better serve customers, regardless of how they shop. This technology foundation for the home improvement company includes new investments toward modernizing Lowes' e-commerce, merchandising, supply chain management, and pricing systems—ultimately providing a more fluid, "channel-less" customer experience spanning from product discovery to return visits. Lowe's is in the early stages of a large-scale, multiyear technology transformation, investing more than $500 million annually through 2021 and hiring up to 2,000 engineers to continue to build out future retail experiences. Lowe's is now looking at how Google Cloud technology can improve the customer experience across all parts of the business, with a focus on three key areas: A seamless, digital experience: Lowe's is working to optimize the online customer journey, from search to navigation to checkout, personalizing the experience for different types of customers; Merchandising and inventory improvements: Using Android-based mobile devices and Google Cloud technology, Lowe's is giving store associates the ability to view and update pricing and inventory on-the-fly. The company has rolled out 88,000 SMART Mobile devices to allow its associates to efficiently access realtime data without leaving the sales floor or losing engagement with a customer; Data analytics and machine learning: Lowe's is also leveraging Google Cloud to grow its capabilities using machine learning and analytics. By centralizing its data lakes into BigQuery, Lowe's will empower employees across the company to gain greater visibility into different aspects of the business and make more data-driven decisions. This data centralization, coupled with artificial intelligence and machine learning algorithms, will provide Lowe's with the ability to model everything from the impact of severe weather to demand forecasting.
Lowe's Companies, Inc. is No. 2 worldwide in retail distribution of residential renovation products. Net sales break down by family of products as follows:
- decorative products (35.3%): especially kitchen accessories, surface coatings products and paint;
- building materials, woodworking and general plumbing products, electrical equipment, hardware products, etc. (32.4%);
- lawn and garden and outdoor decoration (29.7%);
- others (2.6%).
As of 31/01/2022, products are marketed through a network of 1,971 outlets located in the United States (1,737) and Canada (234).
The United Statesaccounts for 93.9% of net sales.