Dive Brief:
- Lowe’s has updated its loyalty program to make it easier for small- and mid-sized professional contractors to earn and redeem rewards, the company announced Tuesday. The MVP Pro Rewards & Partnership Program is now the MyLowe’s Pro Rewards.
- Members earn points for every dollar spent that can be redeemed for experiences, products or MyLowe's Money, which offers credit toward eligible purchases. The program also offers members access to exclusive deals and business solutions aimed at professional customers, among other benefits.
- MyLowe’s Pro Rewards has three tiers, with higher tiers offering more points per level and special coupons for snacks and drinks. New members start at Gold Pro status and can reach Platinum Pro and Titanium Pro as they spend more money.
Dive Insight:
MyLowe’s Pro Rewards is part of the home improvement retailer’s broader strategy of leaning into customer experience to differentiate itself from the competition.
The pro loyalty program builds on the home retailer’s DIY-focused MyLowe’s Rewards program with the addition of business-focused features like volume discounts, quotes for online orders and purchase authorization, which lets crew members make in-store purchases on behalf of their company.
Additionally, members can track their points progress, re-order items from previous purchases and check out personalized recommendations through the app.
"We talk about saving our Pros time and money in all that we do and this program is the perfect example of our commitment to do just that,” Quonta Vance, EVP of pro and home services at Lowe’s, said in a prepared statement.
Simplicity was one of the top goals for Pro Rewards. The old program was too complex, which made it hard for professionals to get the most out of its benefits, according to executives speaking at a December analyst and investor day presentation.
Lowe’s is improving the experience for DIY customers as well. In November, it launched the Lowe’s Digital Home Platform, which aims to improve the post-purchase experience for MyLowe’s Rewards members with personalized product information, maintenance suggestions and recommended subscriptions for recent purchases.
Lowe’s rival Home Depot is putting an emphasis on CX too, particularly for the needs of professional contractors.
Home Depot announced the creation of a pro customer experience manager role on a Q3 2024 earnings call in November. The position’s responsibilities include ensuring stores have the right items on hand and enough staff dedicated to helping professionals in-store during peak shopping hours.
