Lowe’s is joining other retailers such as Walmart and Target to get in on an earlier shopping season for the holidays and is expanding its branded and private brand assortment around decorating and gift giving.
Bill Boltz, EVP of merchandising at Mooresville, N.C.-based Lowe’s, said more than 90% of shoppers expect to spend the same or more on gifts this year, despite the pandemic. A study from Vericast found shoppers could be spending more on store brands, too, in an effort to save money.
As part of its “Total Home Strategy,” the retailer has been enhancing its private brand products, too, particularly in home decor through its allen + roth brand and more. For the holiday season, Boltz said during a virtual press briefing that the stores are set and well positioned nice and early to get ahead of supply chain issues happening around the country.