The company is one of the biggest companies in retail and they have a reputation of being a company that is pretty reliable and trustworthy.
Lowe’s has a long but checkered history of success and failure. Lowe’s is an American retailer that has been around since 1915.
23 Lowe’s Statistics, Facts, & Trends In 2022
1. The First Lowe’s Store Opened In Carolina
When Lowe’s first store opened in North Wilkesboro, Carolina, it was the start of a movement that would make home improvement stores so popular all over the country.
Lowe’s was originally a small hardware store, and its design was very similar to that of small hardware stores.
In the 1950s the company was the largest coal shipper in the world.
2. Lowe’s Used To Sell A Lot More Than Hardware Before World War II
Lowe’s sold many more basic items, like hammers, axes, shovels, and wheelbarrows. And they bought other products, like nails, from suppliers. But for at least a few years, Lowe’s was the only major seller of ready-made cabinets and furniture.
Carl Buchan was the partner in the business and he anticipated the need for construction after World War II and so he focused on hardware and building materials.
3. Lowe’s Has A Total Of 2015 Stores
Lowe’s is currently holding a total of 2,015 home improvement stores in the USA and Canada. This makes the stores occupy a total of 209 million square feet of space altogether.
4. Lowe’s Used To Have Stores In Mexico
Lowe’s announced that the will close about 100 stores in Mexico, including their 14 stores in the country.
According to The New York Times, Lowe’s shut down several stores in Mexico because they were unable to compete with Home Depot.
5. Lowe’s Business Is Designed Around The Customer
Lowe’s has a business model that focuses exclusively on the customer. To serve the customer, the company provides extensive online and mobile capabilities for both the in-store and online shopping experience.
While on job sites we work hard to stay in-tune, with on-the-job training. And we stay safe with the latest products and equipment. We’re also proud of our focus on the customer and keeping a clean site, so you can be at ease.
We are an emergency repair company and are available to you when you need us.
6. Lowe’s Estimated $90 Billion Sales In 2020
The Walmart store in the US had an impressive sales figure of $90 billion in 2020.
With this figure, Lowe’s has definitely cemented his position as a much-loved brand all over the word.
7. Lowe’s Gives Back To Communities
Lowe’s gives back to the community in a variety of ways, from investing in local causes to providing support to nonprofits, to participating in programs that benefit their employees and the communities in which they live and work.
8. Lowe’s Encourages Its Employees To Give Back To Their Communities
Through its program called Heroes, Lowe’s gives funding to each store for a project that its employees can do together.
Lowe’s has a program called “Give Back Time,” which encourages associates to take a day of the year to do something that they believe in.
9. Lowe’s Stocks More Than 30,000 Different Products
Lowe’s offers a wide range of products. It’s the largest home improvement store in the U.S., and it also sells outdoor products and furniture. It is also one of the oldest home improvement companies.
Customers visit Lowe’s to look at their inventory, buy tools, and buy home improvement stuff.
10. Lowe’s Has 300,000 Employees
Lowe’s has a estimated 1,300,000 employees worldwide, but there are about 2,500 stores in the United States and Canada.
Lowe’s has hired many people to work there, which means that customers can receive good customer service when they shop at Lowe’s.
11. Lowe’s Has Had Multiple Slogan Changes
Lowe’s has used slogans that are either fun and friendly or are a little more down-to-earth. The slogans tend to be somewhat funny, but not overly crude.
12. Lowe’s Attracted Over 120 Million Customers To Its Website In The Last Six Months
An analysis of Lowe’s visitors was released by SimilarWeb.com. The analysis shows that the site received 121.5 million visitors in the last six months.
So the large number of website visits shows that Lowe’s has a big focus on increasing its online footprint.
13. Lowe’s Has Exclusive Access To Well-Known Brands
– A selection of exclusive deals for The Simpsons, Family Guy and Futurama.
– The Simpsons and Family Guy are just the beginning with a host of other brands. These deals are being heavily discounted.
– The Simpsons, Family Guy, Futurama and many other shows are available to rent on iTunes and Amazon Prime.
14. Lowe’s Is Environmentally Conscious
Lowe’s is committed to educating its customers to reduce their impact on the environment by using environmentally-friendly products.
However, you can learn more about the green products Lowe’s carries here.
Additionally, Lowe’s Green program has earned it eight consecutive energy star awards.
15. Lowe’s Supports The Republican Party
Lowe’s runs a political action committee that tends to contribute donations to Republican Congressional candidates.
But there’s more.
The only way for a third party to gain access to the Federal Election Commission is if one of the other two major parties don’t submit a candidate for the same office.
16. Controversy Surrounded Lowe’s For Pulling Advertising From ‘All-American-Muslim’
All-American-Muslim was one of Lowe’s television advertisements. The TV show features children of Arab Muslims in the US trying to get accepted into high school.
The American-Arab Anti-Discrimination Committee is asking people to write to Lowe’s urging them to remove the anti-Muslim policy from their website.
The company did not change its decision even though it wanted to.
17. Lowe’s Had Lawsuits Relating To Employee Pay
Lowe’s was at the center of a class action lawsuit which was related to the payment system it provided for their employees.
In the “variable rate over time” situation, the employer pays a constant rate for every hour over a 40-hour week, and more overtime pay for more hours beyond that. This is an example of overtime pay being lower than a worker’s regular pay.
It was revealed that the suits alleged that salaried managers who worked 40 to 50 hours per week were improperly compensated for that time.
Although there were a few exceptions where employees with shorter length of service time could be granted overtime if their supervisors determined that their jobs involved more than 8 hours of additional duties beyond an employee’s normal daily duties. These exceptions were for the most part due to union contracts.
18. Lowe’s Has A Financing Program
Builders, contractors, and construction companies can apply for financing through Lowe’s.
In addition to helping local builders access the financing they needed, the program also reduced local building materials prices, encouraging the recovery of local building trades. It also allowed homeowners to purchase homes with a down payment as low as 3.5%; enabling them to get into the housing market.
Thanks to the contractor program, contractors manage to file forms they needed for government operations.
Another thing that happened in the housing market was that contractors could start building more affordable housing.
So, the housing market worked; it worked for people that had homes. But the housing market didn’t work for people that were renting.
As a result, they saw a lot of the housing stock that they owned go into foreclosure.
And, they became renters. And, they became renters in different kinds of housing situations, as well.
So, a lot of this stuff is affecting our economy today.
19. Lowe’s Annually Served One Million Customers For The First Time In 1964
In 1964, Lowe’s served one million customers annually for the very first time. But, it wasn’t too much longer until the next step in Lowe’s growth would happen.
Now, what’s interesting is, after the first four years of a student’s study they have no interest in going further or in continuing. They feel that the time they’ve spent in a course is enough. And this is the case for a considerable number of students.
20. Lowe’s Launched Its Website In 1995
Back then, Lowe’s.com was a huge success and it helped Lowe’s gain a very good online reputation.
The site quickly became a tool that could be used in the sales process.
As the years went by, the site would be regularly updated and improved.
By 2006, users could create wish lists, browse through available rooms, price and view inventory.
And the site would even allow users to make their own rooms, allowing them to be customized to their specific needs.
21. Lowe’s Has Offices In India
Lowe’s wants to expand its hardware to all around the world and has opened an office in Bangalore.
22. Lowe’s Encourages Diversity And Inclusion
Lowe’s employees are instructed to embrace diversity of all kinds.
where anyone can find the best work to do and succeed, and where anyone can bring their full self to work.
A person is prohibited from discriminating, or permitting others to discriminate, against a person or persons in a workplace or any other place to which the public has access because of race, ethnicity, gender, age, religion, or disability, or in any place of public accommodation. This is also known as racial, ethnic, or religious discrimination.
23. Lowe’s Implements Safety Measures
The company implemented a new approach to safety, following the recent coronavirus pandemic. Among the new measures that Lowe’s implemented were additional requirements for employees to stay home when not at work, a temporary increase of store hours, and the elimination of paid days off.
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These 23 facts and statistics create an interesting background for Lowe’s and can give us a better sense of the company’s history.
As a huge home improvement retail chain, Lowe’s has stores in the United States and Canada.
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