Lowe’s responds to housing slump with new shopper perks

What: Lowe’s has introduced new shopper perks to boost sales amid the housing slump, including a 5% discount on home improvement projects over $**500**.
Why: The move aims to attract price-conscious customers and increase market share in a slowing housing market.
Signal: The new perks signal Lowe’s commitment to customer loyalty and retention in a competitive retail landscape.
Target: The company is targeting **$1.5 billion** in sales growth through these initiatives by the end of **2027**.
Risk: The strategy carries a risk of cannibalizing sales from higher-margin projects, but Lowe’s believes the benefits outweigh the costs.