Introduction
The home improvement business is a developed industry that trade in a collection of household repair and maintenance products like hardware, tools, electrical goods, lumber, and merchandise for construction and renovations (Dart, 2017). However, the entity entails a broad range of competitive landscape such as numerous house enhancement warehouse chains and lumberyards that operate within the firm’s market segment. As such, major competitors of Lowes include Home depot which is the biggest retail store in the United States with stores in all the fifty states, Menards with over three hundred outlets in fourteen states, Wesfarmers that dominates Australian hardware and home improvement industry, and Woolworth firm (Dart, 2017).
Besides, traditional hardware, plumbing,
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Notably, differentiation between the merchandise is minimal concerning building materials, electrical, and plumbing applications. Therefore, price factor, national and international brands, and service to the clients plays a significant role in the growth of sales. Hence, to have a competitive advantage over its competitor, LOW have employed various techniques such as acquisitions to expand offerings, integrated retail channels, and internal expansion.
Acquisition to Expand Offerings
Procurement of a maintenance supply headquarters a distributor of commodities intended to maintain multi-family households has enhanced its customer base as numerous clients can easily access the place (Lowes, 2017). Similarly, the firm acquired Central Wholesalers located in Mid-Atlantic that has enabled the industry to expand its services to pro-customers through the provision of a range of offerings. Thus, increasing the business revenues since professional clients are more steadfast with greater order sizes than average consumers.
Integrated Retail