Home-improvement giant Lowe’s is hopping on the retail ad network bandwagon with a new offering it’s calling Lowe’s One Roof Media Network.
Retail media networks have caught on in recent years as chains with extended footprints try to cash in on another advertising and promotion channel to support their brands and those sold in their stores.
Companies like Walmart, Target and CVS have already joined the fray.
"There's been a real shift in consumer behavior and sentiment toward home, and we know our partners are continually looking for new ways to command attention, drive relevance and overall sales," said Marisa Thalberg, Lowe's executive vice president, chief brand and marketing officer.
"Leveraging Lowe's deep understanding of the home lifestyle customer and real-time trends, Lowe's One Roof Media Network will serve as an extension of our partners' marketing teams, helping them develop custom, comprehensive approaches designed to deliver on their business goals," she said.
Dozens of brands — including Samsung and Kohler — have already tested the new service which is now operational and will be adding capabilities in the coming months. According to the company, those tests generated significant growth of daily revenue. One kitchen and bath partner achieved a 700% return on ad spend, with several vendors in the pilot seeing returns over 1,000%.
Lowe’s worked with ad tech firms Criteo and CitrusAd (acquired by Publicis Groupe in July) to get the network up and running.
One Roof will offer capabilities including:
As part of the next testing phase, Lowe's said it will scale onsite inventory, select offsite activation partners and “ramp sales demand as brands plan for 2022.”