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LOWE'S ACCELERATES ITS ONLINE MARKETPLACE, ANNOUNCES PARTNERSHIP WITH MIRAKL

1. Lowe's partners with Mirakl to enhance its online marketplace capabilities. 2. Marketplace features a wide range of products for DIY and Pro customers. 3. Lowe's aims to become the most customer-centric omnichannel retailer. 4. Marketplace supports MyLowe's Rewards program, enhancing customer loyalty. 5. Over 1,700 stores provide convenient returns for marketplace purchases.

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Why Bullish?

The partnership with Mirakl significantly expands Lowe's marketplace presence, enhancing customer offerings. Historical success in e-commerce strategies by competitors suggests this will boost sales.

How important is it?

The article details a significant partnership that could drive sales growth in e-commerce and expand product offerings. Lowe's strategic focus on enhancing the online shopping experience aligns with current market trends benefiting home improvement retailers.

Why Long Term?

The partnership is set to accelerate Lowe's e-commerce growth over several quarters. Long-term strategic moves in the marketplace space typically yield gradual, sustained financial returns.

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Collaboration with industry-leading marketplace technology positions Lowe's to enhance and scale its marketplace for DIY and Pro customers alike, /PRNewswire/ -- As part of its ongoing commitment to being the most assistive home improvement retailer, Lowe's is bringing customers more options than ever through its online marketplace – an industry first, launched in December 2024. Now, Lowe's is accelerating the growth of Lowe's Marketplace by announcing its partnership with Mirakl – a global leader in marketplace technology – bringing even more choice, convenience, and value to Lowe's customers. Lowe’s Marketplace features products ranging the full price spectrum – from value to premium products – while also allowing Lowe’s to branch into new product categories across the home. Through its partnership with Mirakl, Lowe's is positioned to scale its e-commerce business faster while allowing trusted marketplace sellers to easily manage their catalogs on Lowes.com, better serving customers wherever they are in their home improvement journey. Since launching its marketplace, Lowe's has expanded its offerings from third-party sellers including indoor and outdoor furniture, kitchen and bath, home décor, power and hand tools, and more. This provides more options alongside Lowe's extensive product assortment available in-store and online at Lowes.com, catering to the needs of both do-it-yourself homeowners and professional customers. "Lowe's is committed to being the world's most customer-centric omnichannel retailer, and that starts with having the right products and brands for customers and their homes at the right prices," said Lowe's Chief Digital and Information Officer, Seemantini Godbole. "Our partnership with Mirakl allows Lowe's Marketplace to offer a full complement of products to homeowners for every project around the home, driving our Total Home Strategy forward." In addition to offering customers more choices on its marketplace from popular brands, Lowe's Marketplace will feature products ranging the full price spectrum – from value to premium products – while also allowing Lowe's to branch into new product categories across the home."Lowe's Marketplace extends our aisle to better meet the needs of our customers, bringing them more of the products they want from brands they trust," said Lowe's Vice President of Marketplace, Michael McCluskey. "Mirakl is a proven leader in online retail marketplaces, and joining forces with their team furthers our commitment of creating a robust marketplace, with thousands of items that help home improvement customers find everything they need to make the house of their dreams."Benefits of Lowe's Marketplace extend to members of MyLowe's Rewards loyalty program, with members accruing points on any marketplace purchase. All marketplace products are currently available for home delivery, and customers may return marketplace products purchased through Lowes.com directly to any of Lowe's over 1,700 stores, creating more convenience for customers.Verified sellers within Lowe's Marketplace range from small businesses up to nationally recognized brands, including existing Lowe's suppliers. Lowe's carefully selects its sellers and monitors their ongoing performance and product ratings to ensure products are aligned to Lowe's brand and quality while providing a superior experience that customers know and expect from Lowe's.To shop Lowe's Marketplace, visit lowes.com. Any business interested in becoming a verified seller on Lowe's Marketplace can visit Lowes.com/Marketplace to apply.About Lowe'sLowe'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 2024 sales of more than $83 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, improving community spaces, helping to develop the next generation of skilled trade experts and providing disaster relief to communities in need. For more information, visit Lowes.com.Media ContactCliff CermakLowe's Companies, Inc.[email protected]SOURCE Lowe's Companies, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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