Shopping at Lowe’s website is an uneventful experience most of the time, but there are some times when it’s clunky, inefficient, or simply frustrating.
Lowe’s recently issued a Q4 2019 earnings report, also discussing 2019 as a whole, and they basically said that their website is outdated and inefficient. But, here’s the good news – they’re promising to make changes.
Here’s a selection that was transcribed from Q4 2019 sales and earnings call:
And finally, as we discussed, Lowe’s.com is still under construction. As customers increasingly utilize online shopping options for convenience and efficiency in the shorter holiday selling season, Lowe’s.com lagged market growth, delivering comp growth of approximately 3% for the quarter.
Let me remind you at the beginning of 2019, Lowe’s.com was sitting on a decade old platform. And although we’re in the process of re-platforming the entire site to Google Cloud, that work will not be completed until Q2. The good news is at Lowe’s.com we know exactly what our issues are, and we have temporarily slowed our dot com growth to resolve those issues. We recruited a very experienced and talented team, and we have a detailed project roadmap to modernize our website. We expect to see a trajectory change in this business in the second half of 2020, which we are very excited about.
Basically, it seems that they’re working to overhaul the website, which sounds good to me. It’ll be months before we see the modernized website, but it’s good to know they’re working on it.
One of the key strategic steps improving Lowe’s.com is the transformation of our supply chain. Consequently, we are also investing $1.7 billion in our supply chain over a five year period. And in 2019, we opened three new bulk distribution facilities and four new cross-dock terminals. I look forward to updating you on our ongoing improvements of Lowe’s.com and our supply chain on future calls.
Does this mean that my online orders where I select shipping/home delivery won’t be cancelled because stores or maybe a distribution warehouse can’t find what I ordered? That happened a few times to me, the last time with Mechanix work gloves I ordered.
Improvements like these sound good to investors, but it also sounds good to me as a customer.
We expect to capitalize on a supportive macroeconomic environment by executing on our four strategic areas of focus. Driving merchandising excellence, transforming our supply chain, delivering operational efficiency and anticipate customer engagement by focusing on the Pro. Our improved Lowe’s.com platform will allow these four strategic areas of focus to create a true omnichannel ecosystem for Lowe’s so we can efficiently serve our customers anyway they choose to shop. And our intense focus on retail fundamentals combined with improving systems and technology will continue to pay dividends across the business in 2020.
Honestly, I don’t know how to interpret this or translate it into plain-language description.
Lowe’s will be focusing on:
- Merchandising excellence
- Transforming the supply chain
- Delivering operational efficiency
- Anticipate customer engagement by focusing on the Pro
They described how they will “transform the supply chain,” but I can’t tell you what “merchandising excellence” or “delivering operational efficiency” really means. “Anticipate customer engagement by focusing on the Pro” – I wonder what this will entail.
Our improved Lowe’s.com platform will allow these four strategic areas of focus to create a true omnichannel ecosystem for Lowe’s so we can efficiently serve our customers anyway they choose to shop.
It sounds to me like Lowe’s is doing a lot more than just giving their website some cosmetic updates.
Okay, cool, let’s check back in a few months and see how Lowe’s website has changed.