DISCUSSION
Will advertisers benefit as Lowe’s brings its retail media sales and ops under one roof?
Written by George Anderson
Source: lowes.com
Lowe’s is bringing all of its One Roof Media Network ad sales and operations in-house.
The home improvement retailer yesterday said that the move, effective Jan. 31, will allow it to control all elements of its relationship with advertisers and partner with them in ways to achieve more meaningful interactions with the shoppers on lowes.com and in the chain’s stores.
"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, Lowe’s senior vice president, enterprise brand and marketing, in a statement. "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 launched its One Roof Media Network in 2021 and has made continued investments that it says improves the ability of advertisers to mine its first-party data for deeper insights into the chain’s customers. The company also said advertisers have access to “faster and more efficient” launches and management of campaigns on lowes.com. The retailer’s in-house experts are able to work with brands to help them scale, personalize and optimize search campaigns through in-house partnerships with Lowe’s merchandising, marketing and operations departments.
Lowe's One Roof Media Network has more than 200 clients, including Moen, Stanley Black & Decker and Whirlpool, whose products are sold in the chain’s stores, through its app and online. The home improvement chain claims that many of its advertisers are achieving results that outpace their efforts on competing retail media networks.
"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."
Lowe’s reported a better-than-expected three percent same-store sales gain in the third quarter, ending Oct. 28. The chain’s performance was buoyed by sales to the professional market, which grew 16 percent year-over year, the tenth straight quarter of gains.