As the home building industry plans for another year ahead by closing out their winter project logs, the retailer Lowe’s is supporting its business partners to help them find new opportunities to maximize their businesses. Helping the company to meet its support goals, Lowe’s has introduced its PROvember Playbook, which Lowe’s says is a guide for Pros of all business sizes to create the most value as they restock and look ahead to 2023.
According to new proprietary research from Lowe’s, 86 percent of building professionals found inflation a top challenge in 2022, and two-thirds of those pros state it will be a long-term issue. The Lowe’s PROvember Playbook is designed to help ease the burden of these issues by offering advice the company’s Lowe’s Pro Ambassadors. This advice includes making decisions about making the most with their money, which tools are worth stocking up on now, and which deals provide the most return on investment for their business.
“We know Pros have a lot of challenges to navigate this winter, so we are deepening our dedication through Lowe’s PROvember,” says Tony Hurst, senior vice president, Pro, services and international.
“As a true business partner for Pros, we are listening to their needs and adding more value and more meaning to what we offer our Pros so they can get ahead of another busy year.”
Available at Lowes.com/PROvemberPlaybook, the guide comes just as Lowe’s launches its PROvember promotion, which starts on Oct. 27. This event provides building professionals with more than 30 days to their year-end purchases, including:
- Extra savings to help provide more return on investment in the long run: In addition to immediate cost savings, building industry members can stock up for the year ahead on select pro-grade tools and materials—from brands such as DeWalt, Metabo HPT, FLEX and more.
- Opportunities to earn rewards and celebrate their crew: MVPs Pro Rewards and Partnership Program members can rack up Bonus Points by earning up to three Bonus Points per dollar on select items during Lowe’s PROvember. And, Lowe’s will host a free Pro Happy Hour on Nov. 17 from 2 to 5 p.m. at all stores nationwide, where building professionals can join in for free PEPSI drinks and FRITO-LAY snacks and more. MVPs Pro Rewards members can also enter for a chance to win a trip to the NFL Pro Bowl Games.
- Pro desk with fully dedicated Red Vest associates and More: In addition to Lowe’s support help, professionals in the building industry can save five percent every day on eligible purchases, plus zero percent interest for 60 days when using the Lowe’s Business Advantage Account.
For the second year in a row, Lowe’s conducted its proprietary Pro Pulse Survey to understand building professionals’ reflections on the year and what they expect ahead. In addition to challenges they faced like inflation, the key findings suggest:
- Pros remain optimistic despite a challenging economic backdrop: Nearly three in five (59%) building professionals say their job has been more challenging than last year, but 73 percent say their job has been more rewarding than last year.
- Pros expect steady project growth in 2023: Approximately 66% expect to have more work for the remainder of the year than they did during the rest of the year—and 73% expect even more work in 2023.
- The increasing economic pressures provoke an even deeper focus for Pros on saving time and money: While 98 percent of pros say effective time management is important to the success of their jobs, 57 percent of Pros name effective time management as a challenge.
Looking ahead to Next Year: The majority of Pros (61%) plan to outsource part(s) of their business. Furthermore, 68% say they rely on their retailers and suppliers more than they did a year ago.
More news from Lowe’s: Lowe’s Survey Predicts Big Year for Home Contractors in 2022
