Prepared by: Business Team 5 Lucy Snelson Patricia Tellez Kaitlyn Urenda Pedro Vega
Founded in 1946. North Wilkesboro, North Carolina. Second largest home improvement retailer world wide. Serves more than 14 million customers a week. 1,710 stores in the United States and 20 in Canada. Lowe’s stores stock 40,000 products. Hundreds of thousands more available by special order.
Mission Statement To provide home improvement products and valuable solutions to the customers. Values statement We will provide customer- valued Solutions with the best prices, products and services to make Lowe’s the first choice for home improvement.
Strengths Established presence and efficient merchandising: Store segmentation efficiently caters to the customers’ needs. Dedicated service for commercial business customers. Commerce development initiatives: Provides customers several shopping options Buying online, pick-up in-store, or direct shipment to the customer home. Programs promoting long-term business. Roofing, siding , and fencing. Strong distribution system: Owns and operates 14 regional distribution centers.
Weaknesses Dependence on third party manufacturers Difficult to ensure the quality of the goods they offer in their stores. Often leads to product recalls.
Opportunities Private label brands drive growth Increasing demand for private label brands. Excellent reputation among consumers. Well poised to reap the benefits of private label brands. Online and language investments The company launched Lowe’s.com en Español. Increase appeal to the Hispanic consumers. Enhance their experience.
Threats Difficult US economy Affects sales for the company. Competition Large, small, direct and indirect competitors. Financial performance could be severely affected if they are unable to meet the competitive pressures. Poor outlook of housing market Decreasing demand for home improvement and building materials. The number of new houses being built, or not built, directly impacts demand.
A frequent topic in the national news between 2005 and 2007 involved a language panic. The display of signs in Spanish upsets many customers. English is pivotal to the preservation of a strong national identity. Quickly became an immigration related topic.
Lowes cannot be responsible for the entire well being and ideals of the United States. Common courtesy and understanding is a key element. Place of business needs to hold the needs of its customers above prejudice or ignorance of the general public.
Bilingual signs should stay. Special training for employees. Accommodate needs for those with an English language barrier Advertising campaign promoting tolerance among different cultural groups.
Dual language signs are a source of convenience for the diverse nationalities in our country. Proper training of employees will boost confidence and pride among customers. Lowe’s will establish itself as a community leader and mentor. Increase in revenues by attracting new customers.