Lowe’s is a popular D.I.Y store that has cemented itself at the forefront of home improvement retailers in the United States and Canada.
The retailer’s interesting history is mixed with commercial successes and several controversies. Check out these 23 Lowe’s statistics, facts, and trends to learn more!
Key Takeaways
23 Lowe’s Statistics, Facts, & Trends In 2022
1. The First Lowe’s Store Opened In Carolina
The first Lowe’s store opened in North Wilkesboro, Carolina, in 1921.
During its early years, Lowe’s sold its products mainly to professional contractors, and its store design resembled that of small local hardware stores.
The company didn’t get a second location until 1949, which was in Sparta, North Carolina.
2. Lowe’s Used To Sell A Lot More Than Hardware Before World War II
Before World War II, the product mix at Lowe’s also included these items:
- Sewing notions
- Dry goods (textiles, ready-to-wear clothing, toiletries, and more)
- Horse tack (including saddles, stirrups, headgear, and more)
- Smokeless tobacco
- Groceries
A partner in the business, Carl Buchan, anticipated the dramatic increase in construction after World War II and under his management, the store focused on hardware and building materials.
3. Lowe’s Has A Total Of 2015 Stores
There are 2,015 Lowe’s locations in the USA and Canada as of February 1, 2019. With that, the stores take up a total of 209 million square feet of space altogether.
4. Lowe’s Used To Have Stores In Mexico
Lowe’s formerly operated in Mexico with 14 locations. However, it had to close all its store in Mexico on April 10, 2019.
Reportedly, Lowe’s shutdown in Mexico resulted from the firm failing to achieve adequate sales and being unable to compete with Home Depot.
5. Lowe’s Business Is Designed Around The Customer
Lowe’s has designed its business to center around the customer. For example, on its website, the company says:
“The people we serve are at the heart of everything we do. Our associates have deep home improvement experience and training and can give you the expert advice you need to do your project right.
From urgent repairs to your dream remodel, we designed our business to be there when you need us most.”
6. Lowe’s Estimated $90 Billion Sales In 2020
In 2020, the store had a very impressive sales figure of $90 billion.
With this figure, Lowe’s has undoubtedly cemented its position as a much-loved brand all over the world.
7. Lowe’s Gives Back To Communities
Additionally, Lowe’s gives back to the community in a variety of ways:
- It supports safe and affordable housing initiatives by working with organizations like Habitat for Humanity International.
- Lowe’s partners with SkillsUSA and other non-profit organizations to improve skilled trades education.
- Lowe’s supports communities impacted by disasters and supports charities such as the American Red Cross.
- Lowe’s has a rich heritage in honoring military members and veterans through funding and volunteer projects.
8. Lowe’s Encourages Its Employees To Give Back To Their Communities
Through its Heroes program, Lowe’s allocates funding to each store for a project in its community that employees can complete together.
In addition, Lowe’s has a “Give Back Time” system, which encourages associates to take a day out of the year to volunteer with an organization that’s important to them.
9. Lowe’s Stocks More Than 30,000 Different Products
At Lowe’s, the store always seems to have everything you need when you visit, and it’s no surprise when you consider that it stocks around 34,000 different products.
Because of the huge product variety, customers visit Lowe’s for all their tooling, DIY, and renovation needs.
10. Lowe’s Has 300,000 Employees
Lowe’s has an estimated 300,000 employees in the United States and Canada as of 2020.
With that, this number of staff means the customers can be properly attended to and given exemplary customer service when they shop at Lowe’s.
11. Lowe’s Has Had Multiple Slogan Changes
Although the retailer’s slogans have evolved, they’ve kept a friendly and upbeat tone. For example, here are some of the slogans Lowe’s has used in the past:
- Build and Grow
- The Gift of Home
- Never Stop Improving
- Find your Style at Lowe’s
- Let’s Build Something Together
- Improving Home Improvement
- Do It Right for Less (current slogan
12. Lowe’s Attracted Over 120 Million Customers To Its Website In The Last Six Months
A report by SimilarWeb.com states that Lowe’s website attracted 121.5 million visitors in the last six months.
So, the substantial number of website visitors shows that Lowe’s has a big focus on increasing its online footprint.
13. Lowe’s Has Exclusive Access To Well-Known Brands
The store has an impressive range of exclusive brand deals, including:
- Stainmaster
- allen + roth
- Project Source
- Harbor Breeze
- And much more
14. Lowe’s Is Environmentally Conscious
Lowe’s strives to educate and enable its customers to make decisions that reduce their environmental impact by selling eco-friendly products.
Moreover, you can learn about the eco-friendly products Lowe’s carries here.
Additionally, Lowe’s environmental efforts have earned it eight consecutive energy star awards from 2003 to 2010.
15. Lowe’s Supports The Republican Party
Lowe’s runs a political action committee that tends to contribute donations to Republican Congressional candidates.
During the 2019-2020 election cycle, Lowe’s gave $442,500 to Republican candidates and $265,000 to the Democrats, which means 62.54% of the money was given to the Republican Party.
16. Controversy Surrounded Lowe’s For Pulling Advertising From ‘All-American-Muslim’
In December 2011, Lowe’s withdrew its advertising from the reality television show All-American-Muslim.
A spokesperson for Lowe’s said that “we understand the program raised concerns, complaints, or issues from multiple sides of the viewer spectrum, which we found after doing research of news articles and blogs covering the show.”
The American-Arab Anti-Discrimination Committee called upon members to contact Lowe’s to urge it to reverse its position.
However, the company’s corporate headquarters declined to change its decision.
17. Lowe’s Had Lawsuits Relating To Employee Pay
One piece of controversy that Lowe’s was involved in was some class-action lawsuits revolving around the employee payment system.
For example, the cases focused on a pay practice known as “variable rate over time,” which pays a decreasing overtime rate the more hours a person works in a week.
The suits alleged that salaried managers who worked 40 to 50 hours per week were improperly compensated for that time.
However, the variable rate overtime ended in the first quarter of 2006.
18. Lowe’s Has A Financing Program
Lowe’s has a financing program targeting local builders, contractors, and construction companies.
For example, the financing program enabled local builders to access coordinated Federal Housing Administration (FHA) building plans and loans.
Thanks to the program, contractors managed to fill out government forms they needed in their operations.
Also, construction companies got the chance to build more FHA-approved housing units.
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.
However, this is a far cry from its success today, as that number is increasing dramatically.
20. Lowe’s Launched Its Website In 1995
In 1995, Lowe’s launched its brand-new website, Lowe’s.com, marking the company’s entrance into the digital market.
Since then, the website would go on to be a primary source of customer engagement for Lowe’s.
21. Lowe’s Has Offices In India
Lowe’s aims to expand its hardware globally, so, in 2015, it established an office in Bangalore, India.
22. Lowe’s Encourages Diversity And Inclusion
Lowe’s encourages diversity and inclusion amongst its employees.
With that, the company believes in a respectful and supportive environment regardless of race,
ethnicity, gender, age, religion, ability, or sexual orientation.
23. Lowe’s Implements Safety Measures
In response to the coronavirus pandemic, Lowe’s implemented additional safety efforts, including:
- Enhanced social distancing protocols
- Plexiglass shields at all points of sale
- Masks and gloves for all associates
- Enhanced third-party cleaning shifts
To know more about Lowe’s, you can also read our posts on where is the biggest Lowe’s store, Lowe’s price adjustment policy, and the Lowe’s slogan.
Conclusion
These 23 facts and statistics create an interesting background for Lowe’s and show just how far the store has grown from its humble beginnings.
As of 2022, Lowe’s is a huge home improvement retail chain with stores in the United States and Canada.