Lowe’s, one of the leading home improvement retailers, is making significant strides to enhance its same-day delivery service, challenging its main competitor, Home Depot.
Following a successful pilot program in select stores last year, Lowe’s (ticker: LOW) announced that starting from Wednesday, all customers across the nation will have access to the same-day delivery option.
To qualify for same-day delivery, customers must place eligible orders before 2 p.m. local time on Lowes.com or through the Lowe’s app. However, any orders placed after the cutoff time will be delivered the following day. This convenient service is available for both do-it-yourself and professional orders.
The decision to expand the same-day delivery service is aligned with Lowe’s Total Home strategy, focusing on enhancing the retailer’s digital capabilities to position Lowe’s as the go-to destination for home improvement projects.
According to Lowe’s CEO, Marvin Ellison, “Utilizing all of our 1,700-plus stores for online delivery and fulfillment is essential to becoming a true omnichannel retailer.”
Providing flexible delivery options has become increasingly important for consumers, especially in the wake of the pandemic. Amazon.com’s efficient delivery practices have played a significant role in shaping customer expectations. Consequently, Home Depot (HD) partnered with Walmart’s (WMT) GoLocal service to offer same-day and next-day delivery options in 2021. Originally launched in certain markets, this initiative has now expanded nationwide.
By introducing same-day delivery, Lowe’s aims to keep up with Home Depot—a strategy they have been gradually implementing since earlier this year.
Upon the announcement, Lowe’s shares experienced a modest increase of 0.2%, reaching $230.33, in recent trading. At the same time, the S&P 500 index showed a rise of 0.5%.
In conclusion, Lowe’s commitment to expanding its same-day delivery service nationwide demonstrates its dedication to meeting customer needs and remaining competitive in the thriving home improvement market.
