Lowe’s new marketing represents a departure in strategy, as the chain shifts away from independent seasonal campaigns in favor of marketing that maintains the underlying “Lowe’s Knows” theme. Previously, Lowe’s deployed six to 12 individual campaigns throughout the year but will now feature “Lowe’s Knows” throughout its marketing.
“What we’re trying to do is create a strategic thread that’s more horizonal that helps us because it’s more distinctive brand awareness,” said Wilson, noting that the budget for the new work is commensurate with previous campaigns.
The shift comes following a structural change late last year at Lowe’s in which former Chief Marketing Officer Marisa Thalberg exited the company and marketing moved under merchandising. The CMO role was eliminated. After pandemic-fueled sales gains, Lowe’s is now facing a less enthusiastic shopper and trying economic backdrop filled with inflation and cost pressures. The company recently reported revenue that missed analyst expectations; fourth-quarter net income, at $957 million, was less than the $1.2 billion from a year earlier.
Wilson said the new platform should assist the brand with communicating its value for customers who may be more cost-conscious.
“This campaign insulates us in a big way—it speaks to both everyday value, as well as value beyond price,” she said.