Lowe's Expands Partnership With Petco to 300 Stores
Lowe's and Petco have announced the expansion of their pilot program that brings products, services and expertise — for both home and pets — into a one-stop shop, growing from 15 Lowe's stores to nearly 300 locations by year-end. Focusing on rural communities across the country, this expansion offers a new convenience to shoppers, providing access to pet supplies and veterinary care along with everything DIY and pro customers need for their home improvement projects. The expansion of the Petco store-in-store locations is part of Lowe's broader rural strategy to tailor its assortment in up to 300 stores to include everything needed for farm and home.
Total Retail's Take: According to the American Pet Products Association (APPA), 90.5 million families — or 70 percent of U.S. households — now own a pet. This sizable demographic is an attractive audience for retailers. With that in mind, expanding its partnership with Petco allows Lowe's to expose the pet retailer's products and services to a wider segment of its existing audience as well as attract new customers. Furthermore, the move can help Lowe's to potentially grow average basket size and increase customer loyalty, the latter due to the added convenience of being able to purchase pet products at the home improvement retailer's stores.
"Partnering with top brands that our customers know and trust, like Petco, allows Lowe's to continue elevating and localizing our curated assortment to ensure we have the right products in the right markets," said Bill Boltz, Lowe's executive vice president of merchandising. "By expanding our store-in-store footprint, we're offering more tailored products and services to meet the unique needs of our customers in rural and remote areas, streamlining the shopping experience."