Client Impact: Retail
Lowe’s Home Improvement Warehouse Profile
Lowe’s Companies, Inc. is the second largest chain of retail home improvement and appliance stores in the world. Founded in 1946, Lowe’s has evolved into a $50 billion, Fortune 500 company with over 160,000 employees.
The Opportunity
In an effort to improve its marketing spend and in-store operations, Lowe’s partnered with QualPro. QualPro assembled a project team that included marketing, merchandising, operations, and logistics personnel.
The Impact
Following QualPro’s recommendations, Lowe’s identified the optimal advertising media mix and achieved a combined reduction in advertising expense by $50 million.
The Approach
QualPro consultants tested improvement ideas to determine the impact of each idea, both individually and in combination with others, to determine the impact of each idea on sales and profits. Ideas related to advertising placement, design, messaging, and color schemes, as well as the impact of television advertising.