Lowe's One Roof Media Network, launched Wednesday with support from Criteo and CitrusAd, will provide retail media services such as sales and marketing.
The group will provide an extensive portfolio of omnichannel advertising services designed to put brands sold through its stores and online at the forefront of the home lifestyle movement.
Samsung, Kohler and GE Lighting, a Savant company, participated in early beta tests with the Lowe's One Roof Media Network.
The group used limited categories and inventory, but the tests “generated significant growth of daily revenue,” according to Lowe’s.
One Lowe's partner focused on the industry of kitchens and baths achieved a 700% return on ad spend, with several vendors in the pilot seeing returns more than 1,000%, the company reported.
As part of the next public beta phase, Lowe's will scale onsite inventory, select offsite partners, and increase sales demand as brands plan for 2022.
Marisa Thalberg, Lowe's executive vice president, chief brand and marketing officer, acknowledged the change in consumer behavior.
Consumers’ relationships with their homes have changed in the past 18 months as COVID-19 took hold, and many found themselves redecorating and renovating their personal spaces. Media has also changed, forcing brands to learn to work across multiple channels to reach consumers.
Lowe's One Roof Media Network will serve as an extension of the retail partners' marketing teams, helping to develop custom approaches designed to deliver on their business goals.
The services, which will begin to launch in 2022, include ad placement on high-traffic Lowes.com pages and in the Lowe's mobile app; digital and social media ads, sponsored home editorial content on Lowe's social channels and Lowes.com, custom research and thought leadership on future shopping behaviors, trends and shifts; and in-depth measurement and closed-loop reporting including consultation for growth opportunities.